Exxaro ResourcesEXXAF 85 Cyclically Adjusted PB Ratio is 1.03 as of Jul. 08, 2026, which is 8% below its 10-year median of 1.12. GuruFocus rates EXXAF with a GF Score™ of 85/100 and a GF Value™ of $11.55 (Fairly Valued). The stock has 5 warning signs investors should review. Among 137 Other Energy Sources companies, Exxaro Resources ranks better than 57.66% on this metric.
The historical rank and industry rank for Exxaro Resources's Cyclically Adjusted PB Ratio or its related term are showing as below:
EXXAF'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.64 Med: 1.12 Max: 1.92
Current: 0.95
During the past 13 years, Exxaro Resources's highest Cyclically Adjusted PB Ratio was 1.92. The lowest was 0.64. And the median was 1.12.
EXXAF's Cyclically Adjusted PB Ratio is ranked better than 57.66% of 137
companies
in the Other Energy Sources industry
Industry Median: 1.09
vs EXXAF: 0.95
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.
Exxaro Resources's adjusted book value per share data of for the fiscal year that ended in Dec25 was $14.202. 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 $12.10 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Exxaro Resources (OTCPK:EXXAF) 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.
Exxaro Resources Cyclically Adjusted PB Ratio Related Terms
Exxaro Resources Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Exxaro Resources'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.
Exxaro Resources Cyclically Adjusted PB Ratio Chart
EXXAF vs CNR: Cyclically Adjusted PB Ratio Comparison
For the Thermal Coal subindustry, Exxaro Resources'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.
Exxaro Resources Cyclically Adjusted PB Ratio vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Exxaro Resources's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Exxaro Resources's Cyclically Adjusted PB Ratio falls into.
Exxaro Resources 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.
Exxaro Resources'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 1.03 mean?
Exxaro Resources (EXXAF) has a Cyclically Adjusted PB Ratio of 1.03 as of Jul. 08, 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 Exxaro Resources and its competitors. This is near median its historical median of 1.12. Over the past decade, Exxaro Resources' Cyclically Adjusted PB Ratio has ranged from 0.64 to 1.92. According to the industry distribution chart, Exxaro Resources ranks #58 out of 137 companies in the Other Energy Sources industry, placing it in the top 42.3%.
Is Exxaro Resources' Cyclically Adjusted PB Ratio too high?
Exxaro Resources' current Cyclically Adjusted PB Ratio of 1.03 is near median its 10-year median of 1.12. Over the past 10 years, this metric has ranged from a low of 0.64 to a high of 1.92. The Other Energy Sources industry median Cyclically Adjusted PB Ratio is 1.09. Exxaro Resources' value of 1.03 is 5.5% below this industry median. Based on the distribution chart, Exxaro Resources ranks #58 out of 137 companies in the Other Energy Sources industry, which is above the industry midpoint. Overall, Exxaro Resources has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Exxaro Resources' Cyclically Adjusted PB Ratio compare to CNR?
According to the Other Energy Sources industry distribution chart, Exxaro Resources ranks #58 out of 137 companies for Cyclically Adjusted PB Ratio. This puts Exxaro Resources in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.09. Exxaro Resources' value of 1.03 is 5.5% below this benchmark. Historically, Exxaro Resources' own Cyclically Adjusted PB Ratio has ranged from 0.64 to 1.92 over the past decade. While the company's 10-year median is 1.12 vs. the industry median of 1.09, Exxaro Resources has consistently been below 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 Other Energy Sources company?
The median Cyclically Adjusted PB Ratio among Other Energy Sources companies is 1.09, based on 137 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. Exxaro Resources's current Cyclically Adjusted PB Ratio of 1.03 is 5.5% below 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 Exxaro Resources and its competitors. For the Other Energy Sources industry, the median Cyclically Adjusted PB Ratio is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Exxaro Resources's current Cyclically Adjusted PB Ratio is 1.03, which is near median its own 10-year median of 1.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Exxaro Resources stock overvalued right now?
Based on GuruFocus' analysis, Exxaro Resources (EXXAF) is currently considered Fairly Valued. The stock's GF Value™ is $11.55, compared to a current price of $12.45 — trading 7.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.03, which is near median its 10-year median of 1.12 and 5.5% below the Other Energy Sources industry median of 1.09. Exxaro Resources' overall GF Score™ is 85/100 with 5 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 Exxaro Resources (EXXAF), the current Cyclically Adjusted PB Ratio is 1.03 as of Jul. 08, 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 Exxaro Resources (EXXAF) Overvalued in 2026?
Based on GuruFocus' analysis, Exxaro Resources stock appears to be overvalued.
The current stock price of $12.45 is trading 7.8% above its estimated GF Value™ of $11.55.
GuruFocus considers Exxaro Resources to be Fairly Valued.
Key valuation signals for EXXAF:
Cyclically Adjusted PB Ratio: 1.03 (near median its 10-year median of 1.12)
GF Value™: $11.55 vs. price of $12.45 (7.8% above fair value)
Industry Position: 5.5% below the Other Energy Sources median (#58 of 137)
No single metric tells the full story. See the EXXAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Exxaro Resources Ltd is one of the South Africa-based diversified resources companies. The company's operating segments are: Coal, Energy, Metals, and Others. The majority of its revenue comes from the coal segment, whose operations are located in the Waterberg and Mpumalanga regions and are split between coal commercial operations and coal-tied operations and produce thermal and metallurgical coal, Commercial Waterberg is comprised mainly of the Grootegeluk operation, Commercial Mpumalanga comprising the Belfast and Leeuwpan operations, and Tied comprising of the Matla mine supplying its entire coal supply to Eskom; and Others comprises of the other coal affiliated operation. Geographically, the company derives majority of its revenue from the RSA region ( Republic of South Africa).
85GF Score
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