Havanna Holding (BUE:HAVA) Cyclically Adjusted PB Ratio: 13.85 (As of Aug. 16, 2026) — 43% Below Median

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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.
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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.

BUE:HAVA Havanna Holding SA BUE:HAVA
77 GF Score
Price ARS4,600.00
GF Value ARS6,991.51
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Havanna Holding Cyclically Adjusted PB Ratio?

Havanna Holding BUE:HAVA -0.97% 77 Cyclically Adjusted PB Ratio is 13.85 as of Aug. 16, 2026, which is 43% below its 10-year median of 24.18. GuruFocus rates BUE:HAVA with a GF Score™ of 77/100 and a GF Value™ of ARS6,991.51 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 253 Restaurants companies, Havanna Holding ranks worse than 96.84% on this metric.

As of today (2026-08-16), Havanna Holding's current share price is ARS4600.00. Havanna Holding's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ARS332.21. Havanna Holding's Cyclically Adjusted PB Ratio for today is 13.85.

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

BUE:HAVA' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 13.85   Med: 24.18   Max: 48.57
Current: 13.85

During the past years, Havanna Holding's highest Cyclically Adjusted PB Ratio was 48.57. The lowest was 13.85. And the median was 24.18.

BUE:HAVA's Cyclically Adjusted PB Ratio is ranked worse than
96.84% of 253 companies
in the Restaurants industry
Industry Median: 1.85 vs BUE:HAVA: 13.85

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.

Havanna Holding's adjusted book value per share data for the three months ended in Mar. 2026 was ARS1,569.530. 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 ARS332.21 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Havanna Holding  (BUE:HAVA) 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.


Havanna Holding Cyclically Adjusted PB Ratio Related Terms


Havanna Holding Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Havanna Holding'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.

Havanna Holding Cyclically Adjusted PB Ratio Chart

Havanna Holding 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 0.00 0.00 0.00 36.99 21.35

Havanna Holding Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 32.31 25.66 18.39 21.35 14.51

BUE:HAVA vs MCD, SBUX, YUM: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Havanna Holding'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.


Havanna Holding Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Havanna Holding's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BUE:HAVA
77GF Score
Havanna Holding SA BUE:HAVA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Havanna Holding 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.

Havanna Holding's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=4600.00/332.21
=13.85

* 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.

Havanna Holding's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Havanna Holding's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=1569.53/330.2130*330.2130
=1,569.530

Current CPI (Mar. 2026) = 330.2130.

Havanna Holding Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.000 241.018 0.000
201609 5.677 241.428 7.765
201612 6.590 241.432 9.013
201703 6.793 243.801 9.201
201706 5.615 244.955 7.569
201709 5.877 246.819 7.863
201712 24.432 246.524 32.726
201803 8.055 249.554 10.658
201806 6.075 251.989 7.961
201809 6.598 252.439 8.631
201812 38.311 251.233 50.355
201903 29.033 254.202 37.714
201906 24.953 256.143 32.169
201909 27.611 256.759 35.510
201912 43.553 256.974 55.966
202003 32.513 258.115 41.595
202006 25.232 257.797 32.320
202009 20.221 260.280 25.654
202012 32.817 260.474 41.603
202103 28.653 264.877 35.721
202106 28.035 271.696 34.073
202109 34.102 274.310 41.052
202112 111.304 278.802 131.828
202203 60.965 287.504 70.021
202206 72.491 296.311 80.785
202209 97.050 296.808 107.973
202212 382.782 296.797 425.879
202303 153.140 301.836 167.537
202306 185.558 305.109 200.825
202309 266.019 307.789 285.400
202312 1,008.137 306.746 1,085.263
202403 701.699 312.332 741.871
202406 715.011 314.175 751.511
202409 785.000 315.301 822.126
202412 1,186.796 315.605 1,241.728
202503 1,096.652 319.799 1,132.364
202506 1,056.281 322.561 1,081.339
202509 1,159.323 324.800 1,178.644
202512 1,292.050 324.054 1,316.607
202603 1,569.530 330.213 1,569.530

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 13.85 mean?
Havanna Holding (BUE:HAVA) has a Cyclically Adjusted PB Ratio of 13.85 as of Aug. 16, 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 Havanna Holding and its competitors. This is 43% below median its historical median of 24.18. Over the past decade, Havanna Holding's Cyclically Adjusted PB Ratio has ranged from 13.85 to 48.57. According to the industry distribution chart, Havanna Holding ranks #245 out of 253 companies in the Restaurants industry, placing it in the top 96.8%.
Is Havanna Holding's Cyclically Adjusted PB Ratio too high?
Havanna Holding's current Cyclically Adjusted PB Ratio of 13.85 is 43% below median its 10-year median of 24.18. Over the past 10 years, this metric has ranged from a low of 13.85 to a high of 48.57. The Restaurants industry median Cyclically Adjusted PB Ratio is 1.85. Havanna Holding's value of 13.85 is 648.6% above this industry median. Based on the distribution chart, Havanna Holding ranks #245 out of 253 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Havanna Holding has a GF Score™ of 77/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Havanna Holding's Cyclically Adjusted PB Ratio compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Havanna Holding ranks #245 out of 253 companies for Cyclically Adjusted PB Ratio. This places Havanna Holding in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.85. Havanna Holding's value of 13.85 is 648.6% above this benchmark. Historically, Havanna Holding's own Cyclically Adjusted PB Ratio has ranged from 13.85 to 48.57 over the past decade. While the company's 10-year median is 24.18 vs. the industry median of 1.85, Havanna Holding has consistently been above 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 a Restaurants company?
The median Cyclically Adjusted PB Ratio among Restaurants companies is 1.85, based on 253 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. Havanna Holding's current Cyclically Adjusted PB Ratio of 13.85 is 648.6% above 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 Havanna Holding and its competitors. For the Restaurants industry, the median Cyclically Adjusted PB Ratio is 1.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Havanna Holding's current Cyclically Adjusted PB Ratio is 13.85, which is 43% below median its own 10-year median of 24.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Havanna Holding stock overvalued right now?
Based on GuruFocus' analysis, Havanna Holding (BUE:HAVA) is currently considered Significantly Undervalued. The stock's GF Value™ is ARS6,991.51, compared to a current price of ARS4,600.00 — trading 34.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 13.85, which is 43% below median its 10-year median of 24.18 and 648.6% above the Restaurants industry median of 1.85. Havanna Holding's overall GF Score™ is 77/100 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 Havanna Holding (BUE:HAVA), the current Cyclically Adjusted PB Ratio is 13.85 as of Aug. 16, 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 Havanna Holding (BUE:HAVA) Overvalued in 2026?

Based on GuruFocus' analysis, Havanna Holding stock appears to be undervalued. The current stock price of ARS4,600.00 is trading 34.2% below its estimated GF Value™ of ARS6,991.51. GuruFocus considers Havanna Holding to be Significantly Undervalued.

Key valuation signals for BUE:HAVA:

  • Cyclically Adjusted PB Ratio: 13.85 (43% below median its 10-year median of 24.18)
  • GF Value™: ARS6,991.51 vs. price of ARS4,600.00 (34.2% below fair value)
  • GF Score™: 77/100 with 3 warning signs
  • Industry Position: 648.6% above the Restaurants median (#245 of 253)

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


Havanna Holding Business Description

Address Costa Rica, Buenos Aires, ARG, 4161
Havanna Holding SA is an investment company. Through its subsidiaries, it operates coffee stores franchises in Argentina, Chile. Brazil, Venezuela, Bolivia, Paraguay, Uruguay, Peru, Mexico and Spain. Its products are cookies, chocolates, lattes, frappes.
77GF Score

Get the complete analysis for BUE:HAVA

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

ARS4,600.00
Price
ARS6,991.51
GF Value