AFMACAS:AFM 26 Cyclically Adjusted PB Ratio is 19.18 as of Jul. 05, 2026, which is at its 10-year median of 19.18. GuruFocus rates CAS:AFM with a GF Score™ of 26/100 and a GF Value™ of MAD1,576.33 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 418 Insurance companies, AFMA ranks worse than 99.52% on this metric.
As of today (2026-07-05), AFMA's current share price is MAD1240.00. AFMA's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 was MAD64.65. AFMA's Cyclically Adjusted PB Ratio for today is 19.18.
The historical rank and industry rank for AFMA's Cyclically Adjusted PB Ratio or its related term are showing as below:
CAS:AFM'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 17.32 Med: 19.18 Max: 19.94
Current: 19.18
During the past 11 years, AFMA's highest Cyclically Adjusted PB Ratio was 19.94. The lowest was 17.32. And the median was 19.18.
CAS:AFM's Cyclically Adjusted PB Ratio is ranked worse than 99.52% of 418
companies
in the Insurance industry
Industry Median: 1.38
vs CAS:AFM: 19.18
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.
AFMA's adjusted book value per share data of for the fiscal year that ended in Dec25 was MAD70.724. 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 MAD64.65 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
AFMA (CAS:AFM) 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.
AFMA Cyclically Adjusted PB Ratio Related Terms
AFMA Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for AFMA'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.
CAS:AFM vs MRSH, AON, AJG: Cyclically Adjusted PB Ratio Comparison
For the Insurance Brokers subindustry, AFMA'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.
AFMA Cyclically Adjusted PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, AFMA's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where AFMA's Cyclically Adjusted PB Ratio falls into.
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.
AFMA's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 19.18 mean?
AFMA (CAS:AFM) has a Cyclically Adjusted PB Ratio of 19.18 as of Jul. 05, 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 AFMA and its competitors. This is near median its historical median of 19.18. Over the past decade, AFMA's Cyclically Adjusted PB Ratio has ranged from 17.32 to 19.94. According to the industry distribution chart, AFMA ranks #416 out of 418 companies in the Insurance industry, placing it in the top 99.5%.
Is AFMA's Cyclically Adjusted PB Ratio too high?
AFMA's current Cyclically Adjusted PB Ratio of 19.18 is near median its 10-year median of 19.18. Over the past 10 years, this metric has ranged from a low of 17.32 to a high of 19.94. The Insurance industry median Cyclically Adjusted PB Ratio is 1.38. AFMA's value of 19.18 is 1289.9% above this industry median. Based on the distribution chart, AFMA ranks #416 out of 418 companies in the Insurance industry, which is in the bottom quartile relative to peers. Overall, AFMA has a GF Score™ of 26/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does AFMA's Cyclically Adjusted PB Ratio compare to MRSH and AON?
According to the Insurance industry distribution chart, AFMA ranks #416 out of 418 companies for Cyclically Adjusted PB Ratio. This places AFMA in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.38. AFMA's value of 19.18 is 1289.9% above this benchmark. Historically, AFMA's own Cyclically Adjusted PB Ratio has ranged from 17.32 to 19.94 over the past decade. While the company's 10-year median is 19.18 vs. the industry median of 1.38, AFMA 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 an Insurance company?
The median Cyclically Adjusted PB Ratio among Insurance companies is 1.38, based on 418 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. AFMA's current Cyclically Adjusted PB Ratio of 19.18 is 1289.9% 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 AFMA and its competitors. For the Insurance industry, the median Cyclically Adjusted PB Ratio is 1.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AFMA's current Cyclically Adjusted PB Ratio is 19.18, which is near median its own 10-year median of 19.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AFMA stock overvalued right now?
Based on GuruFocus' analysis, AFMA (CAS:AFM) is currently considered Modestly Undervalued. The stock's GF Value™ is MAD1,576.33, compared to a current price of MAD1,240.00 — trading 21.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 19.18, which is near median its 10-year median of 19.18 and 1289.9% above the Insurance industry median of 1.38. AFMA's overall GF Score™ is 26/100 with 4 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 AFMA (CAS:AFM), the current Cyclically Adjusted PB Ratio is 19.18 as of Jul. 05, 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 AFMA (CAS:AFM) Overvalued in 2026?
Based on GuruFocus' analysis, AFMA stock appears to be undervalued.
The current stock price of MAD1,240.00 is trading 21.3% below its estimated GF Value™ of MAD1,576.33.
GuruFocus considers AFMA to be Modestly Undervalued.
Key valuation signals for CAS:AFM:
Cyclically Adjusted PB Ratio: 19.18 (near median its 10-year median of 19.18)
GF Value™: MAD1,576.33 vs. price of MAD1,240.00 (21.3% below fair value)
Industry Position: 1289.9% above the Insurance median (#416 of 418)
No single metric tells the full story. See the CAS:AFM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AFMA SA provides insurance brokerage services in Morocco. It offers insurance products including Damage Insurance, Insurance Operating Losses, Civil Responsibilities, Car insurance, Transport Insurance, Construction-Related Insurance, Insurance of Persons and Credit insurance. It provides insurance services to both individuals and corporate clients.
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