Paranapanema (BSP:PMAM3) Cyclically Adjusted PB Ratio: (As of Sep. 07, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
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:PMAM3 Paranapanema SA BSP:PMAM3
7 GF Score
Price R$0.32
GF Value R$0.75
Valuation Possible Value Trap
! 7 Warning Signs
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What is Paranapanema Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Paranapanema  (BSP:PMAM3) 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.


Paranapanema Cyclically Adjusted PB Ratio Related Terms


Paranapanema Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Paranapanema'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.

Paranapanema Cyclically Adjusted PB Ratio Chart

Paranapanema Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.20 0.14 0.34 0.00 0.00

Paranapanema 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:PMAM3 vs SCCO, FCX: Cyclically Adjusted PB Ratio Comparison

For the Copper subindustry, Paranapanema'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.


Paranapanema Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Paranapanema's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Paranapanema's Cyclically Adjusted PB Ratio falls into.


BSP:PMAM3
7GF Score
Paranapanema SA BSP:PMAM3
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Paranapanema 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.

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

For example, Paranapanema'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)
=-38.766/177.5443*177.5443
=-38.766

Current CPI (Jun. 2026) = 177.5443.

Paranapanema Quarterly Data

Book Value per Share CPI Adj_Book
201609 14.336 109.986 23.142
201612 10.217 110.802 16.371
201703 9.608 111.869 15.249
201706 5.678 112.115 8.992
201709 23.199 112.777 36.522
201712 16.364 114.068 25.470
201803 15.519 114.868 23.987
201806 10.424 117.038 15.813
201809 10.225 117.881 15.400
201812 11.041 118.340 16.565
201903 10.505 120.124 15.527
201906 12.455 120.977 18.279
201909 14.314 121.292 20.952
201912 10.685 123.436 15.369
202003 1.093 124.092 1.564
202006 -3.430 123.557 -4.929
202009 -6.146 125.095 -8.723
202012 -3.415 129.012 -4.700
202103 -10.213 131.660 -13.772
202106 -6.435 133.871 -8.534
202109 -13.480 137.913 -17.354
202112 -16.405 141.992 -20.512
202203 -13.187 146.537 -15.977
202206 -22.644 149.784 -26.841
202209 -27.884 147.800 -33.496
202212 -48.450 150.207 -57.268
202303 -51.527 153.352 -59.656
202306 -62.347 154.519 -71.638
202309 -68.919 155.464 -78.708
202312 -72.626 157.148 -82.052
202403 -59.120 159.372 -65.861
202406 -60.716 161.052 -66.934
202409 -65.854 162.342 -72.021
202412 -67.442 164.740 -72.684
202503 -73.817 168.102 -77.963
202506 -71.979 169.670 -75.320
202509 -74.939 170.739 -77.926
202512 -58.244 171.765 -60.204
202603 -50.886 175.066 -51.607
202606 -38.766 177.544 -38.766

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 Paranapanema (BSP:PMAM3) Overvalued in 2026?

Based on GuruFocus' analysis, Paranapanema stock appears to be undervalued. The current stock price of R$0.32 is trading 57.3% below its estimated GF Value™ of R$0.75. GuruFocus considers Paranapanema to be Possible Value Trap.

Key valuation signals for BSP:PMAM3:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$0.75 vs. price of R$0.32 (57.3% below fair value)
  • GF Score™: 7/100 with 7 warning signs

No single metric tells the full story. See the BSP:PMAM3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Paranapanema Business Description

Address Via do Cobre, n 3700, Complexo Petroquimico de Camacari, West Industrial Area, Dias Davila, BA, BRA, 42850-000
Paranapanema SA is a Brazilian producer of copper and its alloys. The company is engaged in the production and sale of electrolytically refined copper, its byproducts, and related services, as well as the sale of semi-finished copper and its alloys. Its products include laminates, bars, profiles, tubes, rods, casts, manufactured and semi-manufactured industrial parts, and components. It only operates in the copper segment, which includes the production and sale of electrolytically refined copper, its byproducts, and related services, as well as semi-finished copper and its alloys. Geographically, the company operates in Europe, America, and Asia, of which a majority of its revenue is generated from the European markets.
7GF Score

Get the complete analysis for BSP:PMAM3

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

R$0.32
Price
R$0.75
GF Value