FLNT (Fluent) Cyclically Adjusted PB Ratio: 0.21 (As of Sep. 09, 2026) — 45% Below Median

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

FLNT Fluent Inc FLNT
41 GF Score
Price $3.19
GF Value $1.13
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Fluent Cyclically Adjusted PB Ratio?

Fluent FLNT +3.57% 41 Cyclically Adjusted PB Ratio is 0.21 as of Sep. 09, 2026, which is 45% below its 10-year median of 0.38. GuruFocus rates FLNT with a GF Score™ of 41/100 and a GF Value™ of $1.13 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 652 Media - Diversified companies, Fluent ranks better than 90.34% on this metric.

As of today (2026-09-09), Fluent's current share price is $3.19. Fluent's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was $15.37. Fluent's Cyclically Adjusted PB Ratio for today is 0.21.

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

FLNT' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.08   Med: 0.38   Max: 2.86
Current: 0.2

During the past years, Fluent's highest Cyclically Adjusted PB Ratio was 2.86. The lowest was 0.08. And the median was 0.38.

FLNT's Cyclically Adjusted PB Ratio is ranked better than
90.34% of 652 companies
in the Media - Diversified industry
Industry Median: 1.015 vs FLNT: 0.20

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.

Fluent's adjusted book value per share data for the three months ended in Jun. 2026 was $0.257. 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 $15.37 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Fluent  (NAS:FLNT) 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.


Fluent Cyclically Adjusted PB Ratio Related Terms


Fluent Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Fluent'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.

Fluent Cyclically Adjusted PB Ratio Chart

Fluent 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 0.67 0.32 0.20 0.13 0.14

Fluent 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 0.10 0.11 0.14 0.20 0.24

FLNT vs TSQ, TJGC, MCHX: Cyclically Adjusted PB Ratio Comparison

For the Advertising Agencies subindustry, Fluent'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.


Fluent Cyclically Adjusted PB Ratio vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Fluent's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FLNT
41GF Score
Fluent Inc FLNT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fluent 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.

Fluent's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=3.19/15.37
=0.21

* 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.

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

For example, Fluent'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)
=0.257/333.9520*333.9520
=0.257

Current CPI (Jun. 2026) = 333.9520.

Fluent Quarterly Data

Book Value per Share CPI Adj_Book
201609 26.335 241.428 36.428
201612 25.728 241.432 35.587
201703 24.816 243.801 33.992
201706 23.160 244.955 31.574
201709 22.515 246.819 30.463
201712 21.934 246.524 29.713
201803 15.132 249.554 20.250
201806 15.567 251.989 20.630
201809 16.149 252.439 21.364
201812 16.509 251.233 21.945
201903 16.571 254.202 21.770
201906 16.591 256.143 21.631
201909 16.367 256.759 21.288
201912 16.680 256.974 21.677
202003 16.697 258.115 21.603
202006 16.816 257.797 21.784
202009 16.991 260.280 21.800
202012 17.044 260.474 21.852
202103 16.287 264.877 20.534
202106 15.951 271.696 19.606
202109 15.840 274.310 19.284
202112 16.215 278.802 19.422
202203 15.976 287.504 18.557
202206 11.731 296.311 13.221
202209 12.012 296.808 13.515
202212 7.039 296.797 7.920
202303 4.665 301.836 5.161
202306 5.038 305.109 5.514
202309 2.623 307.789 2.846
202312 2.539 306.746 2.764
202403 2.104 312.332 2.250
202406 1.973 314.175 2.097
202409 1.184 315.301 1.254
202412 1.246 315.605 1.318
202503 1.067 319.799 1.114
202506 0.788 322.561 0.816
202509 0.731 324.800 0.752
202512 0.615 324.054 0.634
202603 0.446 330.213 0.451
202606 0.257 333.952 0.257

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 0.21 mean?
Fluent (FLNT) has a Cyclically Adjusted PB Ratio of 0.21 as of Sep. 09, 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 Fluent and its competitors. This is 45% below median its historical median of 0.38. Over the past decade, Fluent's Cyclically Adjusted PB Ratio has ranged from 0.08 to 2.86. According to the industry distribution chart, Fluent ranks #63 out of 652 companies in the Media - Diversified industry, placing it in the top 9.7%.
Is Fluent's Cyclically Adjusted PB Ratio too high?
Fluent's current Cyclically Adjusted PB Ratio of 0.21 is 45% below median its 10-year median of 0.38. Over the past 10 years, this metric has ranged from a low of 0.08 to a high of 2.86. The Media - Diversified industry median Cyclically Adjusted PB Ratio is 1.02. Fluent's value of 0.21 is 79.3% below this industry median. Based on the distribution chart, Fluent ranks #63 out of 652 companies in the Media - Diversified industry, which is in the top quartile — a strong position relative to peers. Overall, Fluent has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fluent's Cyclically Adjusted PB Ratio compare to TSQ and TJGC?
According to the Media - Diversified industry distribution chart, Fluent ranks #63 out of 652 companies for Cyclically Adjusted PB Ratio. This places Fluent in the top 10% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.02. Fluent's value of 0.21 is 79.3% below this benchmark. Historically, Fluent's own Cyclically Adjusted PB Ratio has ranged from 0.08 to 2.86 over the past decade. While the company's 10-year median is 0.38 vs. the industry median of 1.02, Fluent 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 a Media - Diversified company?
The median Cyclically Adjusted PB Ratio among Media - Diversified companies is 1.02, based on 652 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. Fluent's current Cyclically Adjusted PB Ratio of 0.21 is 79.3% 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 Fluent and its competitors. For the Media - Diversified industry, the median Cyclically Adjusted PB Ratio is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fluent's current Cyclically Adjusted PB Ratio is 0.21, which is 45% below median its own 10-year median of 0.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fluent stock overvalued right now?
Based on GuruFocus' analysis, Fluent (FLNT) is currently considered Significantly Overvalued. The stock's GF Value™ is $1.13, compared to a current price of $3.19 — trading 182.3% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.21, which is 45% below median its 10-year median of 0.38 and 79.3% below the Media - Diversified industry median of 1.02. Fluent's overall GF Score™ is 41/100 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 Fluent (FLNT), the current Cyclically Adjusted PB Ratio is 0.21 as of Sep. 09, 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 Fluent (FLNT) Overvalued in 2026?

Based on GuruFocus' analysis, Fluent stock appears to be overvalued. The current stock price of $3.19 is trading 182.3% above its estimated GF Value™ of $1.13. GuruFocus considers Fluent to be Significantly Overvalued.

Key valuation signals for FLNT:

  • Cyclically Adjusted PB Ratio: 0.21 (45% below median its 10-year median of 0.38)
  • GF Value™: $1.13 vs. price of $3.19 (182.3% above fair value)
  • GF Score™: 41/100 with 5 warning signs
  • Industry Position: 79.3% below the Media - Diversified median (#63 of 652)

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


Fluent Business Description

Address 300 Vesey Street, 9th Floor, New York, NY, USA, 10282
Fluent Inc is a commerce media solutions provider that connects brands with engaged consumers by leveraging diverse advertising inventory, robust first-party data, and proprietary machine learning. The company mainly delivers customer acquisition services through scalable digital marketing campaigns, linking advertisers with targeted audiences. It reaches consumers through its Commerce Media Solutions, which integrate targeted advertising into e-commerce and digital media transaction flows on partner websites and mobile applications, as well as through its owned and operated digital media properties. The company operates in the United States, which generates the majority of its revenue, along with international markets.
41GF 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.

$3.19
Price
$1.13
GF Value