Eutelsat Communications (CHIX:ETLP) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

CHIX:ETLP Eutelsat Communications CHIX:ETLP
64 GF Score
Price €1.77
GF Value €1.43
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Eutelsat Communications Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Eutelsat Communications  (CHIX:ETLp) 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.


Eutelsat Communications Cyclically Adjusted PB Ratio Related Terms


Eutelsat Communications Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Eutelsat Communications'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.

Eutelsat Communications Cyclically Adjusted PB Ratio Chart

Eutelsat Communications Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.83 0.46 0.32 0.28 0.25

Eutelsat Communications Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 0.33 0.32 0.28 0.18 0.26

CHIX:ETLP vs VZ, TMUS, T: Cyclically Adjusted PB Ratio Comparison

For the Telecom Services subindustry, Eutelsat Communications'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.


Eutelsat Communications Cyclically Adjusted PB Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Eutelsat Communications's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CHIX:ETLP
64GF Score
Eutelsat Communications CHIX:ETLP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Eutelsat Communications 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.

Eutelsat Communications's Cyclically Adjusted Book per Share for the fiscal year that ended in Jun26 is calculated as:

For example, Eutelsat Communications's adjusted Book Value per Share data for the fiscal year that ended in Jun26 was:

Adj_Book=Book Value per Share/CPI of Jun26 (Change)*Current CPI (Jun26)
=6.049/123.5000*123.5000
=6.049

Current CPI (Jun26) = 123.5000.

Eutelsat Communications Annual Data

Book Value per Share CPI Adj_Book
201706 9.758 101.320 11.894
201806 9.543 103.370 11.401
201906 9.611 104.580 11.350
202006 9.478 104.790 11.170
202106 9.107 106.340 10.577
202206 9.677 112.550 10.618
202306 9.629 117.650 10.108
202406 6.479 120.200 6.657
202506 4.367 121.360 4.444
202606 6.049 123.500 6.049

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 Eutelsat Communications (CHIX:ETLP) Overvalued in 2026?

Based on GuruFocus' analysis, Eutelsat Communications stock appears to be overvalued. The current stock price of €1.77 is trading 23.4% above its estimated GF Value™ of €1.43. GuruFocus considers Eutelsat Communications to be Modestly Overvalued.

Key valuation signals for CHIX:ETLP:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €1.43 vs. price of €1.77 (23.4% above fair value)
  • GF Score™: 64/100 with 6 warning signs

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


Eutelsat Communications Business Description

Address 32, boulevard Gallieni, Eutelsat Communications, Issy-les-Moulineaux, Paris, FRA, 92130
Eutelsat Communications is a satellite operator, specialised in the supply of connectivity and broadcasting services across various countries. Its coverage spans the EMEA, the Americas, and Asia. It operates a fleet of various satellites serving broadcasters, telecommunications operators, Internet service providers, and government agencies. These satellites are used for video broadcasting, news gathering, broadband services, and data connectivity solutions. The company generates revenue in Europe, the Americas, the Middle East, France, Italy, the United Kingdom, Africa, and Asia.
64GF Score

Get the complete analysis for CHIX:ETLP

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

€1.77
Price
€1.43
GF Value