Bancontander (Brasil) (FRA:DBSA) Cyclically Adjusted PB Ratio: (As of Jul. 31, 2026)

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

FRA:DBSA Banco Santander (Brasil) SA FRA:DBSA
70 GF Score
Price €4.32
GF Value €6.86
Valuation Significantly Undervalued
! 3 Warning Signs
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What is Bancontander (Brasil) Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bancontander (Brasil)  (FRA:DBSA) 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.


Bancontander (Brasil) Cyclically Adjusted PB Ratio Related Terms


Bancontander (Brasil) Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bancontander (Brasil)'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.

Bancontander (Brasil) Cyclically Adjusted PB Ratio Chart

Bancontander (Brasil) 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 0.91 0.83 0.93 0.67 0.94

Bancontander (Brasil) 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 0.81 0.81 0.94 0.83 0.00

Bancontander (Brasil) Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, Bancontander (Brasil)'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.


Bancontander (Brasil) Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Bancontander (Brasil)'s Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Bancontander (Brasil)'s Cyclically Adjusted PB Ratio falls into.


FRA:DBSA
70GF Score
Banco Santander (Brasil) SA FRA:DBSA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bancontander (Brasil) 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.

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

For example, Bancontander (Brasil)'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)
=2.879/177.2608*177.2608
=2.879

Current CPI (Jun. 2026) = 177.2608.

Bancontander (Brasil) Quarterly Data

Book Value per Share CPI Adj_Book
201609 3.202 109.986 5.161
201612 3.164 110.802 5.062
201703 3.466 111.869 5.492
201706 3.158 112.115 4.993
201709 3.213 112.777 5.050
201712 2.968 114.068 4.612
201803 2.902 114.868 4.478
201806 2.693 117.038 4.079
201809 2.541 117.881 3.821
201812 2.759 118.340 4.133
201903 2.888 120.124 4.262
201906 2.951 120.977 4.324
201909 2.939 121.292 4.295
201912 2.839 123.436 4.077
202003 2.468 124.092 3.525
202006 2.314 123.557 3.320
202009 2.181 125.095 3.090
202012 2.265 129.012 3.112
202103 2.096 131.660 2.822
202106 2.344 133.871 3.104
202109 2.276 137.913 2.925
202112 2.214 141.992 2.764
202203 2.592 146.537 3.135
202206 2.714 149.784 3.212
202209 2.833 147.800 3.398
202212 2.667 150.207 3.147
202303 2.698 153.352 3.119
202306 2.870 154.519 3.292
202309 2.883 155.464 3.287
202312 2.877 157.148 3.245
202403 2.861 159.372 3.182
202406 2.711 161.052 2.984
202409 2.576 162.342 2.813
202412 2.507 164.740 2.698
202503 2.600 168.102 2.742
202506 2.559 169.670 2.673
202509 2.634 170.739 2.735
202512 2.623 171.765 2.707
202603 2.792 175.066 2.827
202606 2.879 177.261 2.879

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 Bancontander (Brasil) (FRA:DBSA) Overvalued in 2026?

Based on GuruFocus' analysis, Bancontander (Brasil) stock appears to be undervalued. The current stock price of €4.32 is trading 37% below its estimated GF Value™ of €6.86. GuruFocus considers Bancontander (Brasil) to be Significantly Undervalued.

Key valuation signals for FRA:DBSA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €6.86 vs. price of €4.32 (37% below fair value)
  • GF Score™: 70/100 with 3 warning signs

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


Bancontander (Brasil) Business Description

Address Avenida Presidente Juscelino Kubitschek, 2041, Suite 281, Block A, Condominio Wttore JK, Vila Nova Conceicao, Sao Paulo, SP, BRA, 04543-011
Banco Santander (Brasil) SA is part of Santander Group, a Spanish bank. It operates across two segments; the Commercial Banking segment, catering to both individual and corporate client and the Global Wholesale Banking segment, which encompasses Investment Banking and Markets operations, including the Treasury and Equity Business Departments. The bank generates majority of its revenue from the Commercial Banking segment and has operations in Brazil and internationally.
70GF Score

Get the complete analysis for FRA:DBSA

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

€4.32
Price
€6.86
GF Value