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.
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.
CropEnergies AGHAM:CE2 71 Cyclically Adjusted PB Ratio is 1.94 as of Jul. 15, 2026, which is 1% below its 10-year median of 1.95. GuruFocus rates HAM:CE2 with a GF Score™ of 71/100 and a GF Value™ of €14.57 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,285 Chemicals companies, CropEnergies AG ranks worse than 53.93% on this metric.
The historical rank and industry rank for CropEnergies AG's Cyclically Adjusted PB Ratio or its related term are showing as below:
HAM:CE2'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.87 Med: 1.95 Max: 3.14
Current: 1.95
During the past 13 years, CropEnergies AG's highest Cyclically Adjusted PB Ratio was 3.14. The lowest was 0.87. And the median was 1.95.
HAM:CE2's Cyclically Adjusted PB Ratio is ranked worse than 53.93% of 1285
companies
in the Chemicals industry
Industry Median: 1.7
vs HAM:CE2: 1.95
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.
CropEnergies AG's adjusted book value per share data of for the fiscal year that ended in Feb26 was €5.269. 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 €7.17 for the trailing ten years ended in Feb26.
Shiller PE for Stocks: The True Measure of Stock Valuation
CropEnergies AG (HAM:CE2) 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.
CropEnergies AG Cyclically Adjusted PB Ratio Related Terms
CropEnergies AG Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for CropEnergies AG'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.
CropEnergies AG Cyclically Adjusted PB Ratio Chart
HAM:CE2 vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison
For the Specialty Chemicals subindustry, CropEnergies AG'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.
CropEnergies AG Cyclically Adjusted PB Ratio vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, CropEnergies AG's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where CropEnergies AG's Cyclically Adjusted PB Ratio falls into.
CropEnergies AG 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.
CropEnergies AG'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 1.94 mean?
CropEnergies AG (HAM:CE2) has a Cyclically Adjusted PB Ratio of 1.94 as of Jul. 15, 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 CropEnergies AG and its competitors. This is near median its historical median of 1.95. Over the past decade, CropEnergies AG's Cyclically Adjusted PB Ratio has ranged from 0.87 to 3.14. According to the industry distribution chart, CropEnergies AG ranks #693 out of 1285 companies in the Chemicals industry, placing it in the top 53.9%.
Is CropEnergies AG's Cyclically Adjusted PB Ratio too high?
CropEnergies AG's current Cyclically Adjusted PB Ratio of 1.94 is near median its 10-year median of 1.95. Over the past 10 years, this metric has ranged from a low of 0.87 to a high of 3.14. The Chemicals industry median Cyclically Adjusted PB Ratio is 1.70. CropEnergies AG's value of 1.94 is 14.1% above this industry median. Based on the distribution chart, CropEnergies AG ranks #693 out of 1285 companies in the Chemicals industry, which is below the industry midpoint. Overall, CropEnergies AG has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CropEnergies AG's Cyclically Adjusted PB Ratio compare to LIN and SHW?
According to the Chemicals industry distribution chart, CropEnergies AG ranks #693 out of 1285 companies for Cyclically Adjusted PB Ratio. This places CropEnergies AG in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.70. CropEnergies AG's value of 1.94 is 14.1% above this benchmark. Historically, CropEnergies AG's own Cyclically Adjusted PB Ratio has ranged from 0.87 to 3.14 over the past decade. While the company's 10-year median is 1.95 vs. the industry median of 1.70, CropEnergies AG has consistently been above 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 Chemicals company?
The median Cyclically Adjusted PB Ratio among Chemicals companies is 1.70, based on 1,285 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. CropEnergies AG's current Cyclically Adjusted PB Ratio of 1.94 is 14.1% above 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 CropEnergies AG and its competitors. For the Chemicals industry, the median Cyclically Adjusted PB Ratio is 1.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CropEnergies AG's current Cyclically Adjusted PB Ratio is 1.94, which is near median its own 10-year median of 1.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CropEnergies AG stock overvalued right now?
Based on GuruFocus' analysis, CropEnergies AG (HAM:CE2) is currently considered Fairly Valued. The stock's GF Value™ is €14.57, compared to a current price of €13.90 — trading 4.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.94, which is near median its 10-year median of 1.95 and 14.1% above the Chemicals industry median of 1.70. CropEnergies AG's overall GF Score™ is 71/100 with 4 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 CropEnergies AG (HAM:CE2), the current Cyclically Adjusted PB Ratio is 1.94 as of Jul. 15, 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 CropEnergies AG (HAM:CE2) Overvalued in 2026?
Based on GuruFocus' analysis, CropEnergies AG stock appears to be undervalued.
The current stock price of €13.90 is trading 4.6% below its estimated GF Value™ of €14.57.
GuruFocus considers CropEnergies AG to be Fairly Valued.
Key valuation signals for HAM:CE2:
Cyclically Adjusted PB Ratio: 1.94 (near median its 10-year median of 1.95)
GF Value™: €14.57 vs. price of €13.90 (4.6% below fair value)
Industry Position: 14.1% above the Chemicals median (#693 of 1285)
No single metric tells the full story. See the HAM:CE2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CropEnergies AG is a German company which manufactures bioethanol for the fuel sector from cereals and sugar beet. The company also produces various food and animal feed products such as ProtiWanze, a liquid protein animal feed for feeding ruminants and pigs, as well as a high-grade dry stillage protein animal feed. In addition, it produces neutral alcohol for the beverage, food, cosmetics and pharmaceutical industries, as well as for industrial applications, such as the production of windscreen washer fluid and disinfectants.
71GF Score
Get the complete analysis for HAM:CE2
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HAM:CE2 has been successfully added to your 
