Embraer (BUE:ERJ) Cyclically Adjusted PB Ratio: 3.14 (As of Aug. 15, 2026) — 160% Above Median

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.

BUE:ERJ Embraer SA BUE:ERJ
55 GF Score
Price ARS97,100.00
GF Value ARS77,428.96
! 3 Warning Signs
View Full Analysis

What is Embraer Cyclically Adjusted PB Ratio?

Embraer BUE:ERJ 55 Cyclically Adjusted PB Ratio is 3.14 as of Aug. 15, 2026, which is 160% above its 10-year median of 1.21. GuruFocus rates BUE:ERJ with a GF Score™ of 55/100 and a GF Value™ of ARS77,428.96. The stock has 3 warning signs investors should review. Among 209 Aerospace & Defense companies, Embraer ranks worse than 52.15% on this metric.

As of today (2026-08-15), Embraer's current share price is ARS97100.00. Embraer's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was ARS30,962.86. Embraer's Cyclically Adjusted PB Ratio for today is 3.14.

The historical rank and industry rank for Embraer's Cyclically Adjusted PB Ratio or its related term are showing as below:

BUE:ERJ' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.34   Med: 1.21   Max: 4.08
Current: 3.79

During the past years, Embraer's highest Cyclically Adjusted PB Ratio was 4.08. The lowest was 0.34. And the median was 1.21.

BUE:ERJ's Cyclically Adjusted PB Ratio is ranked worse than
52.15% of 209 companies
in the Aerospace & Defense industry
Industry Median: 3.47 vs BUE:ERJ: 3.79

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Embraer's adjusted book value per share data for the three months ended in Jun. 2026 was ARS7,197.797. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ARS30,962.86 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Embraer  (BUE:ERJ) 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.


Embraer Cyclically Adjusted PB Ratio Related Terms


Embraer Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Embraer'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.

Embraer Cyclically Adjusted PB Ratio Chart

Embraer 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 1.18 0.63 0.95 2.26 3.47

Embraer 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 3.02 3.15 3.47 2.98 3.14

BUE:ERJ vs SPCX, GE, RTX: Cyclically Adjusted PB Ratio Comparison

For the Aerospace & Defense subindustry, Embraer'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.


Embraer Cyclically Adjusted PB Ratio vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Embraer's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BUE:ERJ
55GF Score
Embraer SA BUE:ERJ
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Embraer 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.

Embraer's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=97100.00/30962.86
=3.14

* 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.

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

For example, Embraer'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)
=7197.797/177.5443*177.5443
=7,197.797

Current CPI (Jun. 2026) = 177.5443.

Embraer Quarterly Data

Book Value per Share CPI Adj_Book
201609 74.908 109.986 120.920
201612 82.957 110.802 132.927
201703 81.887 111.869 129.961
201706 88.548 112.115 140.224
201709 97.103 112.777 152.869
201712 105.867 114.068 164.780
201803 111.891 114.868 172.943
201806 132.522 117.038 201.034
201809 193.936 117.881 292.092
201812 197.153 118.340 295.786
201903 200.377 120.124 296.160
201906 231.545 120.977 339.811
201909 281.499 121.292 412.051
201912 285.656 123.436 410.873
202003 268.910 124.092 384.744
202006 267.982 123.557 385.074
202009 282.439 125.095 400.859
202012 308.974 129.012 425.204
202103 329.462 131.660 444.280
202106 354.912 133.871 470.698
202109 358.647 137.913 461.710
202112 366.779 141.992 458.613
202203 387.054 146.537 468.954
202206 440.727 149.784 522.411
202209 465.724 147.800 559.451
202212 585.927 150.207 692.565
202303 677.518 153.352 784.399
202306 820.426 154.519 942.681
202309 1,213.576 155.464 1,385.943
202312 1,369.291 157.148 1,547.011
202403 3,196.218 159.372 3,560.656
202406 3,490.050 161.052 3,847.456
202409 4,054.646 162.342 4,434.327
202412 4,228.446 164.740 4,557.093
202503 4,634.918 168.102 4,895.273
202506 5,395.073 169.670 5,645.462
202509 6,880.810 170.739 7,155.061
202512 6,917.791 171.765 7,150.538
202603 6,468.794 175.066 6,560.387
202606 7,197.797 177.544 7,197.797

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.

What does a Cyclically Adjusted PB Ratio of 3.14 mean?
Embraer (BUE:ERJ) has a Cyclically Adjusted PB Ratio of 3.14 as of Aug. 15, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Embraer and its competitors. This is 160% above median its historical median of 1.21. Over the past decade, Embraer's Cyclically Adjusted PB Ratio has ranged from 0.34 to 4.08. According to the industry distribution chart, Embraer ranks #109 out of 209 companies in the Aerospace & Defense industry, placing it in the top 52.2%.
Is Embraer's Cyclically Adjusted PB Ratio too high?
Embraer's current Cyclically Adjusted PB Ratio of 3.14 is 160% above median its 10-year median of 1.21. Over the past 10 years, this metric has ranged from a low of 0.34 to a high of 4.08. The Aerospace & Defense industry median Cyclically Adjusted PB Ratio is 3.47. Embraer's value of 3.14 is 9.5% below this industry median. Based on the distribution chart, Embraer ranks #109 out of 209 companies in the Aerospace & Defense industry, which is below the industry midpoint. Overall, Embraer has a GF Score™ of 55/100, reflecting its overall financial health beyond just this single metric.
How does Embraer's Cyclically Adjusted PB Ratio compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Embraer ranks #109 out of 209 companies for Cyclically Adjusted PB Ratio. This places Embraer in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 3.47. Embraer's value of 3.14 is 9.5% below this benchmark. Historically, Embraer's own Cyclically Adjusted PB Ratio has ranged from 0.34 to 4.08 over the past decade. While the company's 10-year median is 1.21 vs. the industry median of 3.47, Embraer has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Aerospace & Defense company?
The median Cyclically Adjusted PB Ratio among Aerospace & Defense companies is 3.47, based on 209 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Embraer's current Cyclically Adjusted PB Ratio of 3.14 is 9.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Embraer and its competitors. For the Aerospace & Defense industry, the median Cyclically Adjusted PB Ratio is 3.47 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Embraer's current Cyclically Adjusted PB Ratio is 3.14, which is 160% above median its own 10-year median of 1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Embraer stock overvalued right now?
Embraer (BUE:ERJ) has a current Cyclically Adjusted PB Ratio of 3.14. The stock's GF Value™ is ARS77,428.96, compared to a current price of ARS97,100.00 — trading 25.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.14, which is 160% above median its 10-year median of 1.21 and 9.5% below the Aerospace & Defense industry median of 3.47. Embraer's overall GF Score™ is 55/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Embraer (BUE:ERJ), the current Cyclically Adjusted PB Ratio is 3.14 as of Aug. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Embraer (BUE:ERJ) Overvalued in 2026?

Based on GuruFocus' analysis, Embraer stock appears to be overvalued. The current stock price of ARS97,100.00 is trading 25.4% above its estimated GF Value™ of ARS77,428.96.

Key valuation signals for BUE:ERJ:

  • Cyclically Adjusted PB Ratio: 3.14 (160% above median its 10-year median of 1.21)
  • GF Value™: ARS77,428.96 vs. price of ARS97,100.00 (25.4% above fair value)
  • GF Score™: 55/100 with 3 warning signs
  • Industry Position: 9.5% below the Aerospace & Defense median (#109 of 209)

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


Embraer Business Description

Address Avenida Dra. Ruth Cardoso, 8501, 30th Floor, Eldorado Business Tower, Pinheiros, SP, BRA, 05425-070
Embraer SA based in Sao Paulo, Brazil, manufacturer of jets. Its focus is to achieve customer satisfaction with and services addressing the commercial airline, executive jets, and defense and security markets. It has developed a customer-centric technology-driven portfolio of commercial aviation products and services that allows it to build long-term relationships with clients in the commercial aviation, executive jets, and defense and security markets. It operates through the various segments namely Commercial Aviation, Defense and Security, Executive Aviation, Service and Support, and Other Segments. The company generates maximum revenue from the Commercial Aviation segment. Geographically, the company operates in Brazil, Europe, Asia Pacific, North America, and Others.
55GF Score

Get the complete analysis for BUE:ERJ

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

ARS97,100.00
Price
ARS77,428.96
GF Value