EMBJ (Embraer) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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.

EMBJ Embraer SA EMBJ
68 GF Score
Price $77.02
GF Value $61.93
Valuation Modestly Overvalued
! 3 Warning Signs
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What is Embraer Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Embraer  (NYSE:EMBJ) 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.


Embraer Cyclically Adjusted PB Ratio Related Terms


Embraer Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Embraer'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.

Embraer Cyclically Adjusted PB Ratio Chart

Embraer 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 0.69 0.43 0.74 1.51 2.68

Embraer 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 2.31 2.47 2.64 2.43 2.61

EMBJ vs SPCX, GE, RTX: Cyclically Adjusted PB Ratio Comparison

For the Aerospace & Defense subindustry, Embraer'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.


Embraer Cyclically Adjusted PB Ratio vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Embraer's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


EMBJ
68GF Score
Embraer SA EMBJ
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Embraer 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.

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

For example, Embraer'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)
=21.417/177.5443*177.5443
=21.417

Current CPI (Jun. 2026) = 177.5443.

Embraer Quarterly Data

Book Value per Share CPI Adj_Book
201609 20.451 109.986 33.013
201612 21.354 110.802 34.217
201703 21.547 111.869 34.197
201706 21.902 112.115 34.684
201709 22.659 112.777 35.672
201712 22.577 114.068 35.141
201803 22.658 114.868 35.021
201806 21.663 117.038 32.862
201809 21.549 117.881 32.456
201812 21.289 118.340 31.940
201903 21.044 120.124 31.103
201906 21.110 120.977 30.981
201909 20.532 121.292 30.054
201912 19.542 123.436 28.108
202003 17.779 124.092 25.437
202006 16.047 123.557 23.059
202009 15.671 125.095 22.241
202012 15.843 129.012 21.803
202103 15.362 131.660 20.716
202106 15.663 133.871 20.773
202109 15.264 137.913 19.650
202112 15.137 141.992 18.927
202203 14.966 146.537 18.133
202206 15.667 149.784 18.571
202209 14.755 147.800 17.724
202212 15.198 150.207 17.964
202303 15.123 153.352 17.509
202306 14.996 154.519 17.231
202309 15.229 155.464 17.392
202312 16.493 157.148 18.634
202403 16.534 159.372 18.419
202406 16.968 161.052 18.706
202409 18.606 162.342 20.348
202412 18.162 164.740 19.574
202503 18.856 168.102 19.915
202506 19.566 169.670 20.474
202509 22.215 170.739 23.100
202512 21.079 171.765 21.788
202603 20.467 175.066 20.757
202606 21.417 177.544 21.417

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 Embraer (EMBJ) Overvalued in 2026?

Based on GuruFocus' analysis, Embraer stock appears to be overvalued. The current stock price of $77.02 is trading 24.4% above its estimated GF Value™ of $61.93. GuruFocus considers Embraer to be Modestly Overvalued.

Key valuation signals for EMBJ:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $61.93 vs. price of $77.02 (24.4% above fair value)
  • GF Score™: 68/100 with 3 warning signs

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


Embraer Business Description

Address Avenida Dra. Ruth Cardoso, 8501, 30th Floor, Eldorado Business Tower, Pinheiros, SP, BRA, 05425-070
Embraer SA based in Sao Paulo, Brazil, manufacturer of jets. Its focus is to achieve customer satisfaction with and services addressing the commercial airline, executive jets, and defense and security markets. It has developed a customer-centric technology-driven portfolio of commercial aviation products and services that allows it to build long-term relationships with clients in the commercial aviation, executive jets, and defense and security markets. It operates through the various segments namely Commercial Aviation, Defense and Security, Executive Aviation, Service and Support, and Other Segments. The company generates maximum revenue from the Commercial Aviation segment. Geographically, the company operates in Brazil, Europe, Asia Pacific, North America, and Others.
68GF Score

Get the complete analysis for EMBJ

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

$77.02
Price
$61.93
GF Value