Deutsche Post AG (HAM:DHL) Cyclically Adjusted PB Ratio: (As of Aug. 07, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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.
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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.

HAM:DHL Deutsche Post AG HAM:DHL
78 GF Score
Price €54.94
GF Value €42.53
Valuation Modestly Overvalued
! 11 Warning Signs
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What is Deutsche Post AG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Deutsche Post AG  (HAM:DHL) 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.


Deutsche Post AG Cyclically Adjusted PB Ratio Related Terms


Deutsche Post AG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Deutsche Post 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.

Deutsche Post AG Cyclically Adjusted PB Ratio Chart

Deutsche Post AG 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 5.45 2.93 3.34 2.29 2.93

Deutsche Post AG 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 2.58 2.42 2.93 2.72 0.00

HAM:DHL vs UPS, FDX, JBHT: Cyclically Adjusted PB Ratio Comparison

For the Integrated Freight & Logistics subindustry, Deutsche Post 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.


Deutsche Post AG Cyclically Adjusted PB Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Deutsche Post AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


HAM:DHL
78GF Score
Deutsche Post AG HAM:DHL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Deutsche Post 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.

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

For example, Deutsche Post AG'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)
=19.858/131.3638*131.3638
=19.858

Current CPI (Jun. 2026) = 131.3638.

Deutsche Post AG Quarterly Data

Book Value per Share CPI Adj_Book
201609 6.892 101.017 8.962
201612 9.153 101.217 11.879
201703 9.711 101.417 12.579
201706 9.274 102.117 11.930
201709 9.223 102.717 11.795
201712 10.323 102.617 13.215
201803 10.480 102.917 13.377
201806 9.836 104.017 12.422
201809 10.247 104.718 12.854
201812 11.023 104.217 13.894
201903 11.456 104.217 14.440
201906 9.842 105.718 12.230
201909 9.895 106.018 12.261
201912 11.426 105.818 14.184
202003 11.644 105.718 14.469
202006 11.554 106.618 14.236
202009 10.586 105.818 13.142
202012 11.119 105.518 13.843
202103 13.574 107.518 16.585
202106 12.919 108.486 15.643
202109 14.089 109.435 16.912
202112 15.555 110.384 18.511
202203 17.426 113.968 20.086
202206 17.935 115.760 20.352
202209 19.521 118.818 21.582
202212 19.384 119.345 21.336
202303 19.916 122.402 21.374
202306 18.448 123.140 19.680
202309 19.651 124.195 20.785
202312 19.031 123.773 20.198
202403 20.290 125.038 21.316
202406 18.880 125.882 19.702
202409 19.304 126.198 20.094
202412 20.632 127.041 21.334
202503 20.595 127.779 21.173
202506 18.232 128.412 18.651
202509 19.242 129.255 19.556
202512 19.859 129.361 20.167
202603 20.907 131.258 20.924
202606 19.858 131.364 19.858

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 Deutsche Post AG (HAM:DHL) Overvalued in 2026?

Based on GuruFocus' analysis, Deutsche Post AG stock appears to be overvalued. The current stock price of €54.94 is trading 29.2% above its estimated GF Value™ of €42.53. GuruFocus considers Deutsche Post AG to be Modestly Overvalued.

Key valuation signals for HAM:DHL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €42.53 vs. price of €54.94 (29.2% above fair value)
  • GF Score™: 78/100 with 11 warning signs

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


Deutsche Post AG Business Description

Address Platz der Deutschen Post, Bonn, NW, DEU, 53250
Based in Germany, DHL Group ranks among the three dominant integrated global parcel-shipping providers, along with US-based FedEx and UPS. It's also a leading global third-party logistics provider in terms of air and ocean forwarding and outsourced contract logistics markets touching Europe. The DHL divisions (Express, Global Forwarding & Freight, eCommerce Solutions, and Supply Chain) generate roughly 80% of consolidated revenue. Roughly 20% comes from the Post & Parcel Germany division, which includes the legacy German postal operations and the faster growing domestic package delivery business in Germany.
78GF Score

Get the complete analysis for HAM:DHL

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

€54.94
Price
€42.53
GF Value