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.
Hochtief AGLTS:0EPW +0.38%72 Cyclically Adjusted PB Ratio is 22.56 as of Aug. 01, 2026, which is 500% above its 10-year median of 3.76. GuruFocus rates LTS:0EPW with a GF Score™ of 72/100 and a GF Value™ of €177.65 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,349 Construction companies, Hochtief AG ranks worse than 98.44% on this metric.
The historical rank and industry rank for Hochtief AG's Cyclically Adjusted PB Ratio or its related term are showing as below:
LTS:0EPW'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.56 Med: 3.76 Max: 27.23
Current: 22.46
During the past years, Hochtief AG's highest Cyclically Adjusted PB Ratio was 27.23. The lowest was 1.56. And the median was 3.76.
LTS:0EPW's Cyclically Adjusted PB Ratio is ranked worse than 98.44% of 1349
companies
in the Construction industry
Industry Median: 1.15
vs LTS:0EPW: 22.46
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.
Hochtief AG's adjusted book value per share data for the three months ended in Jun. 2026 was €17.221. 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 €19.77 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Hochtief AG (LTS:0EPW) 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.
Hochtief AG Cyclically Adjusted PB Ratio Related Terms
Hochtief AG Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Hochtief 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.
LTS:0EPW vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison
For the Engineering & Construction subindustry, Hochtief 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.
Hochtief AG Cyclically Adjusted PB Ratio vs Construction Industry
For the Construction industry and Industrials sector, Hochtief AG's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Hochtief AG's Cyclically Adjusted PB Ratio falls into.
Hochtief 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.
Hochtief 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 22.56 mean?
Hochtief AG (LTS:0EPW) has a Cyclically Adjusted PB Ratio of 22.56 as of Aug. 01, 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 Hochtief AG and its competitors. This is 500% above median its historical median of 3.76. Over the past decade, Hochtief AG's Cyclically Adjusted PB Ratio has ranged from 1.56 to 27.23. According to the industry distribution chart, Hochtief AG ranks #1328 out of 1349 companies in the Construction industry, placing it in the top 98.4%.
Is Hochtief AG's Cyclically Adjusted PB Ratio too high?
Hochtief AG's current Cyclically Adjusted PB Ratio of 22.56 is 500% above median its 10-year median of 3.76. Over the past 10 years, this metric has ranged from a low of 1.56 to a high of 27.23. The Construction industry median Cyclically Adjusted PB Ratio is 1.15. Hochtief AG's value of 22.56 is 1861.7% above this industry median. Based on the distribution chart, Hochtief AG ranks #1328 out of 1349 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Hochtief AG has a GF Score™ of 72/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hochtief AG's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, Hochtief AG ranks #1328 out of 1349 companies for Cyclically Adjusted PB Ratio. This places Hochtief AG in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.15. Hochtief AG's value of 22.56 is 1861.7% above this benchmark. Historically, Hochtief AG's own Cyclically Adjusted PB Ratio has ranged from 1.56 to 27.23 over the past decade. While the company's 10-year median is 3.76 vs. the industry median of 1.15, Hochtief 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 Construction company?
The median Cyclically Adjusted PB Ratio among Construction companies is 1.15, based on 1,349 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. Hochtief AG's current Cyclically Adjusted PB Ratio of 22.56 is 1861.7% 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 Hochtief AG and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hochtief AG's current Cyclically Adjusted PB Ratio is 22.56, which is 500% above median its own 10-year median of 3.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hochtief AG stock overvalued right now?
Based on GuruFocus' analysis, Hochtief AG (LTS:0EPW) is currently considered Significantly Overvalued. The stock's GF Value™ is €177.65, compared to a current price of €446.00 — trading 151.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 22.56, which is 500% above median its 10-year median of 3.76 and 1861.7% above the Construction industry median of 1.15. Hochtief AG's overall GF Score™ is 72/100 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 Hochtief AG (LTS:0EPW), the current Cyclically Adjusted PB Ratio is 22.56 as of Aug. 01, 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 Hochtief AG (LTS:0EPW) Overvalued in 2026?
Based on GuruFocus' analysis, Hochtief AG stock appears to be overvalued.
The current stock price of €446.00 is trading 151.1% above its estimated GF Value™ of €177.65.
GuruFocus considers Hochtief AG to be Significantly Overvalued.
Key valuation signals for LTS:0EPW:
Cyclically Adjusted PB Ratio: 22.56 (500% above median its 10-year median of 3.76)
GF Value™: €177.65 vs. price of €446.00 (151.1% above fair value)
Industry Position: 1861.7% above the Construction median (#1328 of 1349)
No single metric tells the full story. See the LTS:0EPW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hochtief AG develops and constructs building and infrastructure projects. It works on complex projects in transportation, energy, urban infrastructure, and mining markets. It expands transportation networks with roads, bridges, and tunnels, or designs and constructs office buildings, hospitals, and power plants. The company leans on expertise and technical know-how in developing, financing, building, and operating in designated business areas. Also, it will partner with external groups to work on specific components of a project. Its regional divisions are Americas, Asia Pacific, and Europe. The Americas and the Asia Pacific account for the majority of sales and are where the company's assets are located.
72GF Score
Get the complete analysis for LTS:0EPW
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
LTS:0EPW has been successfully added to your 
