CDUAF (Canadian Utilities) Cyclically Adjusted PB Ratio: 2.34 (As of Jul. 07, 2026) — 19% Above Median


CDUAF Canadian Utilities Ltd CDUAF
73 GF Score
Price $36.44
GF Value $26.47
Valuation Significantly Overvalued
! 14 Warning Signs
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What is Canadian Utilities Cyclically Adjusted PB Ratio?

Canadian Utilities CDUAF 73 Cyclically Adjusted PB Ratio is 2.34 as of Jul. 07, 2026, which is 19% above its 10-year median of 1.97. GuruFocus rates CDUAF with a GF Score™ of 73/100 and a GF Value™ of $26.47 (Significantly Overvalued). The stock has 14 warning signs investors should review. Among 440 Utilities - Regulated companies, Canadian Utilities ranks worse than 73.41% on this metric.

As of today (2026-07-07), Canadian Utilities's current share price is $36.44. Canadian Utilities's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $15.57. Canadian Utilities's Cyclically Adjusted PB Ratio for today is 2.34.

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

CDUAF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.37   Med: 1.97   Max: 2.88
Current: 2.42

During the past years, Canadian Utilities's highest Cyclically Adjusted PB Ratio was 2.88. The lowest was 1.37. And the median was 1.97.

CDUAF's Cyclically Adjusted PB Ratio is ranked worse than
73.41% of 440 companies
in the Utilities - Regulated industry
Industry Median: 1.53 vs CDUAF: 2.42

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.

Canadian Utilities's adjusted book value per share data for the three months ended in Mar. 2026 was $13.396. 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 $15.57 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Canadian Utilities  (OTCPK:CDUAF) 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.


Canadian Utilities Cyclically Adjusted PB Ratio Related Terms


Canadian Utilities Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Canadian Utilities'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.

Canadian Utilities Cyclically Adjusted PB Ratio Chart

Canadian Utilities 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 1.97 1.83 1.53 1.64 1.99

Canadian Utilities 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 1.72 1.75 1.80 1.99 2.25

CDUAF vs SRE, AES: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Diversified subindustry, Canadian Utilities'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.


Canadian Utilities Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Canadian Utilities's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CDUAF
73GF Score
Canadian Utilities Ltd CDUAF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Canadian Utilities 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.

Canadian Utilities's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=36.44/15.57
=2.34

* 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.

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

For example, Canadian Utilities'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)
=13.396/132.2623*132.2623
=13.396

Current CPI (Mar. 2026) = 132.2623.

Canadian Utilities Quarterly Data

Book Value per Share CPI Adj_Book
201606 12.991 102.002 16.845
201609 12.781 101.765 16.611
201612 12.799 101.449 16.687
201703 13.477 102.634 17.368
201706 13.424 103.029 17.233
201709 14.605 103.345 18.692
201712 13.490 103.345 17.265
201803 13.496 105.004 16.999
201806 13.050 105.557 16.352
201809 13.409 105.636 16.789
201812 13.330 105.399 16.727
201903 13.403 106.979 16.571
201906 13.788 107.690 16.934
201909 14.378 107.611 17.672
201912 14.593 107.769 17.910
202003 14.169 107.927 17.364
202006 13.988 108.401 17.067
202009 14.212 108.164 17.378
202012 14.701 108.559 17.911
202103 15.324 110.298 18.376
202106 15.325 111.720 18.143
202109 14.744 112.905 17.272
202112 14.688 113.774 17.075
202203 15.267 117.646 17.164
202206 15.135 120.806 16.570
202209 14.538 120.648 15.938
202212 14.476 120.964 15.828
202303 14.572 122.702 15.707
202306 14.981 124.203 15.953
202309 14.219 125.230 15.017
202312 14.782 125.072 15.632
202403 14.840 126.258 15.546
202406 14.429 127.522 14.965
202409 14.424 127.285 14.988
202412 13.797 127.364 14.328
202503 13.929 129.181 14.261
202506 14.548 129.892 14.813
202509 14.308 130.287 14.525
202512 12.951 130.366 13.139
202603 13.396 132.262 13.396

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 2.34 mean?
Canadian Utilities (CDUAF) has a Cyclically Adjusted PB Ratio of 2.34 as of Jul. 07, 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 Canadian Utilities and its competitors. This is 19% above median its historical median of 1.97. Over the past decade, Canadian Utilities' Cyclically Adjusted PB Ratio has ranged from 1.37 to 2.88. According to the industry distribution chart, Canadian Utilities ranks #323 out of 440 companies in the Utilities - Regulated industry, placing it in the top 73.4%.
Is Canadian Utilities' Cyclically Adjusted PB Ratio too high?
Canadian Utilities' current Cyclically Adjusted PB Ratio of 2.34 is 19% above median its 10-year median of 1.97. Over the past 10 years, this metric has ranged from a low of 1.37 to a high of 2.88. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.53. Canadian Utilities' value of 2.34 is 52.9% above this industry median. Based on the distribution chart, Canadian Utilities ranks #323 out of 440 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Canadian Utilities has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Canadian Utilities' Cyclically Adjusted PB Ratio compare to SRE and AES?
According to the Utilities - Regulated industry distribution chart, Canadian Utilities ranks #323 out of 440 companies for Cyclically Adjusted PB Ratio. This places Canadian Utilities in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.53. Canadian Utilities' value of 2.34 is 52.9% above this benchmark. Historically, Canadian Utilities' own Cyclically Adjusted PB Ratio has ranged from 1.37 to 2.88 over the past decade. While the company's 10-year median is 1.97 vs. the industry median of 1.53, Canadian Utilities 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 Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.53, based on 440 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. Canadian Utilities's current Cyclically Adjusted PB Ratio of 2.34 is 52.9% 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 Canadian Utilities and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PB Ratio is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Canadian Utilities's current Cyclically Adjusted PB Ratio is 2.34, which is 19% above median its own 10-year median of 1.97. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Canadian Utilities stock overvalued right now?
Based on GuruFocus' analysis, Canadian Utilities (CDUAF) is currently considered Significantly Overvalued. The stock's GF Value™ is $26.47, compared to a current price of $36.44 — trading 37.7% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.34, which is 19% above median its 10-year median of 1.97 and 52.9% above the Utilities - Regulated industry median of 1.53. Canadian Utilities' overall GF Score™ is 73/100 with 14 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 Canadian Utilities (CDUAF), the current Cyclically Adjusted PB Ratio is 2.34 as of Jul. 07, 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 Canadian Utilities (CDUAF) Overvalued in 2026?

Based on GuruFocus' analysis, Canadian Utilities stock appears to be overvalued. The current stock price of $36.44 is trading 37.7% above its estimated GF Value™ of $26.47. GuruFocus considers Canadian Utilities to be Significantly Overvalued.

Key valuation signals for CDUAF:

  • Cyclically Adjusted PB Ratio: 2.34 (19% above median its 10-year median of 1.97)
  • GF Value™: $26.47 vs. price of $36.44 (37.7% above fair value)
  • GF Score™: 73/100 with 14 warning signs
  • Industry Position: 52.9% above the Utilities - Regulated median (#323 of 440)

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


Canadian Utilities Business Description

Address 5302 Forand Street South West, 4th Floor, West Building, Corporate Governance & Secretarial, Calgary, AB, CAN, T3E 8B4
Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company is engaged in segments that include ATCO Energy Systems, ATCO EnPower, ATCO Australia, and Corporate & Other. Headquartered in Calgary, Alberta, the firm mainly operates in Canada, Australia, and others. The company generates maximum revenue from Canada. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta.
73GF Score

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

$36.44
Price
$26.47
GF Value