Vale (BUE:VALE) Cyclically Adjusted PB Ratio: (As of Aug. 03, 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.

BUE:VALE Vale SA BUE:VALE
55 GF Score
Price ARS11,840.00
GF Value ARS9,932.21
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Vale Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Vale  (BUE:VALE) 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.


Vale Cyclically Adjusted PB Ratio Related Terms


Vale Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Vale'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.

Vale Cyclically Adjusted PB Ratio Chart

Vale 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 2.29 2.49 2.02 1.36 1.62

Vale 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 1.24 1.33 1.62 1.79 0.00

Vale Cyclically Adjusted PB Ratio Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Vale'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.


Vale Cyclically Adjusted PB Ratio vs Metals & Mining Industry

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

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


BUE:VALE
55GF Score
Vale SA BUE:VALE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Vale 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.

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

For example, Vale'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)
=26396.198/177.5443*177.5443
=26,396.198

Current CPI (Jun. 2026) = 177.5443.

Vale Quarterly Data

Book Value per Share CPI Adj_Book
201609 229.938 109.986 371.176
201612 98.147 110.802 157.266
201703 251.518 111.869 399.177
201706 258.970 112.115 410.104
201709 302.319 112.777 475.939
201712 319.323 114.068 497.020
201803 346.594 114.868 535.708
201806 402.577 117.038 610.703
201809 581.628 117.881 876.005
201812 647.043 118.340 970.750
201903 646.078 120.124 954.912
201906 741.972 120.977 1,088.905
201909 916.207 121.292 1,341.119
201912 934.016 123.436 1,343.440
202003 832.518 124.092 1,191.128
202006 911.108 123.557 1,309.209
202009 998.538 125.095 1,417.200
202012 1,134.073 129.012 1,560.689
202103 1,278.444 131.660 1,723.984
202106 1,566.801 133.871 2,077.953
202109 1,332.079 137.913 1,714.872
202112 1,438.679 141.992 1,798.894
202203 1,704.910 146.537 2,065.667
202206 1,860.802 149.784 2,205.681
202209 2,031.183 147.800 2,439.959
202212 2,682.578 150.207 3,170.805
202303 3,323.289 153.352 3,847.550
202306 4,289.219 154.519 4,928.370
202309 6,179.434 155.464 7,057.112
202312 6,626.002 157.148 7,485.989
202403 14,757.172 159.372 16,439.809
202406 15,505.016 161.052 17,092.838
202409 17,052.739 162.342 18,649.574
202412 15,808.046 164.740 17,036.695
202503 17,584.406 168.102 18,572.167
202506 21,840.220 169.670 22,853.841
202509 26,109.285 170.739 27,149.931
202512 22,787.749 171.765 23,554.437
202603 24,034.082 175.066 24,374.387
202606 26,396.198 177.544 26,396.198

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 Vale (BUE:VALE) Overvalued in 2026?

Based on GuruFocus' analysis, Vale stock appears to be overvalued. The current stock price of ARS11,840.00 is trading 19.2% above its estimated GF Value™ of ARS9,932.21. GuruFocus considers Vale to be Modestly Overvalued.

Key valuation signals for BUE:VALE:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ARS9,932.21 vs. price of ARS11,840.00 (19.2% above fair value)
  • GF Score™: 55/100 with 5 warning signs

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


Vale Business Description

Address Praia de Botafogo, 186, Rooms 1801 to 2001, Botafogo, Rio de Janeiro, RJ, BRA, 22250-145
Vale is a large global miner and the world's largest producer of iron ore and pellets. In recent years the company has sold noncore assets such as its fertilizer, coal, and steel operations to concentrate on iron ore, nickel, and copper. Earnings are dominated by its iron ore business. The base metals division is much smaller, consisting of nickel mines and smelters along with copper mines producing copper in concentrate. In 2024, Vale sold a minority 10% stake in its base metals business, likely the first step in separating base metals and iron ore.
55GF Score

Get the complete analysis for BUE:VALE

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

ARS11,840.00
Price
ARS9,932.21
GF Value