CGI (LTS:0A18) Cyclically Adjusted PB Ratio: 2.91 (As of Aug. 17, 2026) — 42% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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.

LTS:0A18 CGI Inc LTS:0A18
83 GF Score
Price C$102.40
GF Value C$172.75
Valuation Significantly Undervalued
! 1 Warning Sign
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What is CGI Cyclically Adjusted PB Ratio?

CGI LTS:0A18 -0.32% 83 Cyclically Adjusted PB Ratio is 2.91 as of Aug. 17, 2026, which is 42% below its 10-year median of 5.06. GuruFocus rates LTS:0A18 with a GF Score™ of 83/100 and a GF Value™ of C$172.75 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 1,548 Software companies, CGI ranks worse than 56.4% on this metric.

As of today (2026-08-17), CGI's current share price is C$102.40. CGI's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was C$35.15. CGI's Cyclically Adjusted PB Ratio for today is 2.91.

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

LTS:0A18' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.49   Med: 5.06   Max: 6.41
Current: 2.84

During the past years, CGI's highest Cyclically Adjusted PB Ratio was 6.41. The lowest was 2.49. And the median was 5.06.

LTS:0A18's Cyclically Adjusted PB Ratio is ranked worse than
56.4% of 1548 companies
in the Software industry
Industry Median: 2.34 vs LTS:0A18: 2.84

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.

CGI's adjusted book value per share data for the three months ended in Jun. 2026 was C$49.000. 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 C$35.15 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


CGI  (LTS:0A18) 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.


CGI Cyclically Adjusted PB Ratio Related Terms


CGI Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for CGI'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.

CGI Cyclically Adjusted PB Ratio Chart

CGI Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.93 4.15 4.79 5.12 3.71

CGI 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 4.37 3.71 3.74 2.91 2.56

LTS:0A18 vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, CGI'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.


CGI Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, CGI's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


LTS:0A18
83GF Score
CGI Inc LTS:0A18
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CGI 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=102.40/35.15
=2.91

* 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.

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

For example, CGI'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)
=49/133.5265*133.5265
=49.000

Current CPI (Jun. 2026) = 133.5265.

CGI Quarterly Data

Book Value per Share CPI Adj_Book
201609 21.209 101.765 27.829
201612 21.131 101.449 27.813
201703 21.592 102.634 28.091
201706 22.458 103.029 29.106
201709 21.615 103.345 27.928
201712 22.758 103.345 29.404
201803 24.023 105.004 30.548
201806 23.900 105.557 30.233
201809 23.928 105.636 30.246
201812 25.160 105.399 31.874
201903 25.470 106.979 31.790
201906 24.768 107.690 30.710
201909 25.610 107.611 31.777
201912 26.321 107.769 32.612
202003 26.089 107.927 32.277
202006 26.800 108.401 33.012
202009 27.978 108.164 34.538
202012 28.095 108.559 34.556
202103 26.499 110.298 32.080
202106 26.932 111.720 32.189
202109 28.444 112.905 33.639
202112 28.640 113.774 33.612
202203 28.332 117.646 32.157
202206 29.241 120.806 32.320
202209 30.590 120.648 33.855
202212 33.084 120.964 36.520
202303 34.088 122.702 37.095
202306 34.976 124.203 37.601
202309 35.999 125.230 38.384
202312 37.401 125.072 39.929
202403 38.684 126.258 40.911
202406 39.042 127.522 40.880
202409 41.847 127.285 43.899
202412 43.844 127.364 45.965
202503 45.612 129.181 47.146
202506 46.143 129.892 47.434
202509 47.207 130.287 48.381
202512 46.556 130.366 47.685
202603 47.577 132.262 48.032
202606 49.000 133.527 49.000

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 2.91 mean?
CGI (LTS:0A18) has a Cyclically Adjusted PB Ratio of 2.91 as of Aug. 17, 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 CGI and its competitors. This is 42% below median its historical median of 5.06. Over the past decade, CGI's Cyclically Adjusted PB Ratio has ranged from 2.49 to 6.41. According to the industry distribution chart, CGI ranks #873 out of 1548 companies in the Software industry, placing it in the top 56.4%.
Is CGI's Cyclically Adjusted PB Ratio too high?
CGI's current Cyclically Adjusted PB Ratio of 2.91 is 42% below median its 10-year median of 5.06. Over the past 10 years, this metric has ranged from a low of 2.49 to a high of 6.41. The Software industry median Cyclically Adjusted PB Ratio is 2.34. CGI's value of 2.91 is 24.4% above this industry median. Based on the distribution chart, CGI ranks #873 out of 1548 companies in the Software industry, which is below the industry midpoint. Overall, CGI has a GF Score™ of 83/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CGI's Cyclically Adjusted PB Ratio compare to IBM and ACN?
According to the Software industry distribution chart, CGI ranks #873 out of 1548 companies for Cyclically Adjusted PB Ratio. This places CGI in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.34. CGI's value of 2.91 is 24.4% above this benchmark. Historically, CGI's own Cyclically Adjusted PB Ratio has ranged from 2.49 to 6.41 over the past decade. While the company's 10-year median is 5.06 vs. the industry median of 2.34, CGI 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 Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.34, based on 1,548 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. CGI's current Cyclically Adjusted PB Ratio of 2.91 is 24.4% 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 CGI and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CGI's current Cyclically Adjusted PB Ratio is 2.91, which is 42% below median its own 10-year median of 5.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CGI stock overvalued right now?
Based on GuruFocus' analysis, CGI (LTS:0A18) is currently considered Significantly Undervalued. The stock's GF Value™ is C$172.75, compared to a current price of C$102.40 — trading 40.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.91, which is 42% below median its 10-year median of 5.06 and 24.4% above the Software industry median of 2.34. CGI's overall GF Score™ is 83/100 with 1 warning sign 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 CGI (LTS:0A18), the current Cyclically Adjusted PB Ratio is 2.91 as of Aug. 17, 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 CGI (LTS:0A18) Overvalued in 2026?

Based on GuruFocus' analysis, CGI stock appears to be undervalued. The current stock price of C$102.40 is trading 40.7% below its estimated GF Value™ of C$172.75. GuruFocus considers CGI to be Significantly Undervalued.

Key valuation signals for LTS:0A18:

  • Cyclically Adjusted PB Ratio: 2.91 (42% below median its 10-year median of 5.06)
  • GF Value™: C$172.75 vs. price of C$102.40 (40.7% below fair value)
  • GF Score™: 83/100 with 1 warning sign
  • Industry Position: 24.4% above the Software median (#873 of 1548)

No single metric tells the full story. See the LTS:0A18 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CGI Business Description

Address 1350 Rene-Levesque Boulevard West, 25th Floor, Affaires Corporatives, Montreal, QC, CAN, H3G 1T4
CGI is a Canada-based IT-services provider with an embedded position in North America and Europe. The company is one of the major IT suppliers to different levels of government around the world. It offers a broad portfolio of services such as consulting, systems integration, application maintenance, and business process services to governments and the private sector. With offices in over 40 countries, CGI follows a balanced global delivery model with most consultants in client proximity.
83GF Score

Get the complete analysis for LTS:0A18

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

C$102.40
Price
C$172.75
GF Value