Mazda Motor (FRA:MZA0) Cyclically Adjusted PB Ratio: 0.47 (As of Aug. 21, 2026) — 30% Below Median

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.

FRA:MZA0 Mazda Motor Corp FRA:MZA0
85 GF Score
Price €2.90
GF Value €3.14
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is Mazda Motor Cyclically Adjusted PB Ratio?

Mazda Motor FRA:MZA0 -2.03% 85 Cyclically Adjusted PB Ratio is 0.47 as of Aug. 21, 2026, which is 30% below its 10-year median of 0.67. GuruFocus rates FRA:MZA0 with a GF Score™ of 85/100 and a GF Value™ of €3.14 (Fairly Valued). The stock has 7 warning signs investors should review. Among 958 Vehicles & Parts companies, Mazda Motor ranks better than 78.08% on this metric.

As of today (2026-08-21), Mazda Motor's current share price is €2.90. Mazda Motor's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €6.12. Mazda Motor's Cyclically Adjusted PB Ratio for today is 0.47.

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

FRA:MZA0' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.35   Med: 0.67   Max: 1.63
Current: 0.5

During the past years, Mazda Motor's highest Cyclically Adjusted PB Ratio was 1.63. The lowest was 0.35. And the median was 0.67.

FRA:MZA0's Cyclically Adjusted PB Ratio is ranked better than
78.08% of 958 companies
in the Vehicles & Parts industry
Industry Median: 1.245 vs FRA:MZA0: 0.50

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.

Mazda Motor's adjusted book value per share data for the three months ended in Mar. 2026 was €8.235. 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 €6.12 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Mazda Motor  (FRA:MZA0) 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.


Mazda Motor Cyclically Adjusted PB Ratio Related Terms


Mazda Motor Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Mazda Motor'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.

Mazda Motor Cyclically Adjusted PB Ratio Chart

Mazda Motor Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.56 0.68 0.88 0.43 0.44

Mazda Motor Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.43 0.39 0.48 0.53 0.44

FRA:MZA0 vs TSLA, GM, F: Cyclically Adjusted PB Ratio Comparison

For the Auto Manufacturers subindustry, Mazda Motor'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.


Mazda Motor Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Mazda Motor's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:MZA0
85GF Score
Mazda Motor Corp FRA:MZA0
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mazda Motor 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.

Mazda Motor's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=2.90/6.12
=0.47

* 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.

Mazda Motor's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Mazda Motor's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=8.235/112.7000*112.7000
=8.235

Current CPI (Mar. 2026) = 112.7000.

Mazda Motor Quarterly Data

Book Value per Share CPI Adj_Book
201606 6.748 98.100 7.752
201609 7.167 98.000 8.242
201612 6.895 98.400 7.897
201703 7.199 98.100 8.270
201706 7.130 98.500 8.158
201709 6.948 98.800 7.926
201712 6.973 99.400 7.906
201803 7.244 99.200 8.230
201806 7.405 99.200 8.413
201809 7.313 99.900 8.250
201812 7.465 99.700 8.438
201903 7.609 99.700 8.601
201906 7.783 99.800 8.789
201909 8.085 100.100 9.103
201912 7.996 100.500 8.967
202003 7.843 100.300 8.813
202006 7.203 99.900 8.126
202009 6.804 99.900 7.676
202012 6.841 99.300 7.764
202103 7.253 99.900 8.182
202106 7.145 99.500 8.093
202109 7.379 100.100 8.308
202112 7.523 100.100 8.470
202203 7.912 101.100 8.820
202206 7.507 101.800 8.311
202209 7.910 103.100 8.647
202212 7.728 104.100 8.366
202303 7.987 104.400 8.622
202306 7.760 105.200 8.313
202309 7.998 106.200 8.488
202312 8.201 106.800 8.654
202403 8.470 107.200 8.905
202406 8.342 108.200 8.689
202409 8.560 108.900 8.859
202412 8.836 110.700 8.996
202503 8.824 111.100 8.951
202506 8.190 111.700 8.263
202509 7.953 112.000 8.003
202512 7.870 113.000 7.849
202603 8.235 112.700 8.235

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 0.47 mean?
Mazda Motor (FRA:MZA0) has a Cyclically Adjusted PB Ratio of 0.47 as of Aug. 21, 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 Mazda Motor and its competitors. This is 30% below median its historical median of 0.67. Over the past decade, Mazda Motor's Cyclically Adjusted PB Ratio has ranged from 0.35 to 1.63. According to the industry distribution chart, Mazda Motor ranks #210 out of 958 companies in the Vehicles & Parts industry, placing it in the top 21.9%.
Is Mazda Motor's Cyclically Adjusted PB Ratio too high?
Mazda Motor's current Cyclically Adjusted PB Ratio of 0.47 is 30% below median its 10-year median of 0.67. Over the past 10 years, this metric has ranged from a low of 0.35 to a high of 1.63. The Vehicles & Parts industry median Cyclically Adjusted PB Ratio is 1.25. Mazda Motor's value of 0.47 is 62.2% below this industry median. Based on the distribution chart, Mazda Motor ranks #210 out of 958 companies in the Vehicles & Parts industry, which is in the top quartile — a strong position relative to peers. Overall, Mazda Motor has a GF Score™ of 85/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Mazda Motor's Cyclically Adjusted PB Ratio compare to TSLA and GM?
According to the Vehicles & Parts industry distribution chart, Mazda Motor ranks #210 out of 958 companies for Cyclically Adjusted PB Ratio. This places Mazda Motor in the top 22% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.25. Mazda Motor's value of 0.47 is 62.2% below this benchmark. Historically, Mazda Motor's own Cyclically Adjusted PB Ratio has ranged from 0.35 to 1.63 over the past decade. While the company's 10-year median is 0.67 vs. the industry median of 1.25, Mazda Motor 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 Vehicles & Parts company?
The median Cyclically Adjusted PB Ratio among Vehicles & Parts companies is 1.25, based on 958 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. Mazda Motor's current Cyclically Adjusted PB Ratio of 0.47 is 62.2% 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 Mazda Motor and its competitors. For the Vehicles & Parts industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mazda Motor's current Cyclically Adjusted PB Ratio is 0.47, which is 30% below median its own 10-year median of 0.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mazda Motor stock overvalued right now?
Based on GuruFocus' analysis, Mazda Motor (FRA:MZA0) is currently considered Fairly Valued. The stock's GF Value™ is €3.14, compared to a current price of €2.90 — trading 7.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.47, which is 30% below median its 10-year median of 0.67 and 62.2% below the Vehicles & Parts industry median of 1.25. Mazda Motor's overall GF Score™ is 85/100 with 7 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 Mazda Motor (FRA:MZA0), the current Cyclically Adjusted PB Ratio is 0.47 as of Aug. 21, 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 Mazda Motor (FRA:MZA0) Overvalued in 2026?

Based on GuruFocus' analysis, Mazda Motor stock appears to be undervalued. The current stock price of €2.90 is trading 7.6% below its estimated GF Value™ of €3.14. GuruFocus considers Mazda Motor to be Fairly Valued.

Key valuation signals for FRA:MZA0:

  • Cyclically Adjusted PB Ratio: 0.47 (30% below median its 10-year median of 0.67)
  • GF Value™: €3.14 vs. price of €2.90 (7.6% below fair value)
  • GF Score™: 85/100 with 7 warning signs
  • Industry Position: 62.2% below the Vehicles & Parts median (#210 of 958)

No single metric tells the full story. See the FRA:MZA0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mazda Motor Business Description

Address 3-1 Shinchi, Fuchu-cho, Aki-gun, Hiroshima, JPN, 730-8670
Mazda Motor Corp is a Japanese automobile manufacturer. The company mainly manufactures passenger cars and commercial vehicles. It also manufactures diesel and petroleum gasoline engines, along with manual and automatic transmissions for vehicles. The vast majority of the companys production is manufactured locally. The company segments itself across four geographic areas: Japan, North America, Europe, and other markets.
85GF Score

Get the complete analysis for FRA:MZA0

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

€2.90
Price
€3.14
GF Value