Inepar Industria e Construcoes (BSP:INEP4) Cyclically Adjusted PB Ratio: (As of Sep. 07, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:INEP4 Inepar SA Industria e Construcoes BSP:INEP4
31 GF Score
Price R$1.41
GF Value R$2.27
Valuation Possible Value Trap
! 5 Warning Signs
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What is Inepar Industria e Construcoes Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Inepar Industria e Construcoes  (BSP:INEP4) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Inepar Industria e Construcoes Cyclically Adjusted PB Ratio Related Terms


Inepar Industria e Construcoes Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Inepar Industria e Construcoes's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Inepar Industria e Construcoes Cyclically Adjusted PB Ratio Chart

Inepar Industria e Construcoes Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Inepar Industria e Construcoes Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

BSP:INEP4 vs GEV, ETN, PH: Cyclically Adjusted PB Ratio Comparison

For the Specialty Industrial Machinery subindustry, Inepar Industria e Construcoes's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Inepar Industria e Construcoes Cyclically Adjusted PB Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Inepar Industria e Construcoes's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Inepar Industria e Construcoes's Cyclically Adjusted PB Ratio falls into.


BSP:INEP4
31GF Score
Inepar SA Industria e Construcoes BSP:INEP4
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Inepar Industria e Construcoes Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Inepar Industria e Construcoes's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Inepar Industria e Construcoes's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=-35.405/177.5443*177.5443
=-35.405

Current CPI (Jun. 2026) = 177.5443.

Inepar Industria e Construcoes Quarterly Data

Book Value per Share CPI Adj_Book
201609 -20.469 109.986 -33.042
201612 -33.128 110.802 -53.083
201703 -34.629 111.869 -54.959
201706 -36.313 112.115 -57.505
201709 -38.270 112.777 -60.248
201712 -44.141 114.068 -68.705
201803 -53.831 114.868 -83.203
201806 -55.879 117.038 -84.768
201809 -55.543 117.881 -83.655
201812 -54.541 118.340 -81.827
201903 -55.609 120.124 -82.191
201906 -57.088 120.977 -83.781
201909 -55.153 121.292 -80.731
201912 -65.176 123.436 -93.746
202003 -66.937 124.092 -95.770
202006 -66.305 123.557 -95.276
202009 -68.294 125.095 -96.928
202012 -83.115 129.012 -114.381
202103 -83.324 131.660 -112.363
202106 -82.177 133.871 -108.986
202109 -82.055 137.913 -105.635
202112 -40.583 141.992 -50.744
202203 -40.511 146.537 -49.083
202206 -41.761 149.784 -49.501
202209 -42.768 147.800 -51.375
202212 -47.162 150.207 -55.745
202303 -49.054 153.352 -56.792
202306 -51.503 154.519 -59.178
202309 -44.485 155.464 -50.803
202312 -27.265 157.148 -30.804
202403 -28.624 159.372 -31.888
202406 -30.774 161.052 -33.925
202409 -33.074 162.342 -36.171
202412 -34.760 164.740 -37.462
202503 -35.938 168.102 -37.957
202506 -42.889 169.670 -44.880
202509 -36.130 170.739 -37.570
202512 -36.905 171.765 -38.147
202603 -38.372 175.066 -38.915
202606 -35.405 177.544 -35.405

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Inepar Industria e Construcoes (BSP:INEP4) Overvalued in 2026?

Based on GuruFocus' analysis, Inepar Industria e Construcoes stock appears to be undervalued. The current stock price of R$1.41 is trading 37.9% below its estimated GF Value™ of R$2.27. GuruFocus considers Inepar Industria e Construcoes to be Possible Value Trap.

Key valuation signals for BSP:INEP4:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$2.27 vs. price of R$1.41 (37.9% below fair value)
  • GF Score™: 31/100 with 5 warning signs

No single metric tells the full story. See the BSP:INEP4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Inepar Industria e Construcoes Business Description

Other Exchanges INEP3:Brazil
Address Al Dos Jurupis 455, 10th Floor, Sao Paulo, SP, BRA, 4088001
Inepar SA Industria e Construcoes, together with its subsidiaries, is engaged in creating solutions, manufacture, and supply of capital goods, equipment, and services for the generation, transmission and distribution of electricity, among others.
31GF Score

Get the complete analysis for BSP:INEP4

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$1.41
Price
R$2.27
GF Value