Banco Azteca Institucion De Banca Multiple (MEX:FPLUS16) Cyclically Adjusted PB Ratio: 0.96 (As of Jul. 28, 2026) — 16% 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.

MEX:FPLUS16 Banco Azteca SA Institucion De Banca Multiple MEX:FPLUS16
53 GF Score
Price MXN5.06
GF Value MXN6.04
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Banco Azteca Institucion De Banca Multiple Cyclically Adjusted PB Ratio?

Banco Azteca Institucion De Banca Multiple MEX:FPLUS16 -0.59% 53 Cyclically Adjusted PB Ratio is 0.96 as of Jul. 28, 2026, which is 16% below its 10-year median of 1.14. GuruFocus rates MEX:FPLUS16 with a GF Score™ of 53/100 and a GF Value™ of MXN6.04 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,292 Banks companies, Banco Azteca Institucion De Banca Multiple ranks better than 67.11% on this metric.

As of today (2026-07-28), Banco Azteca Institucion De Banca Multiple's current share price is MXN5.06. Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was MXN5.26. Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio for today is 0.96.

The historical rank and industry rank for Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio or its related term are showing as below:

MEX:FPLUS16' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.94   Med: 1.14   Max: 1.76
Current: 0.97

During the past years, Banco Azteca Institucion De Banca Multiple's highest Cyclically Adjusted PB Ratio was 1.76. The lowest was 0.94. And the median was 1.14.

MEX:FPLUS16's Cyclically Adjusted PB Ratio is ranked better than
67.11% of 1292 companies
in the Banks industry
Industry Median: 1.27 vs MEX:FPLUS16: 0.97

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.

Banco Azteca Institucion De Banca Multiple's adjusted book value per share data for the three months ended in Mar. 2026 was MXN2.295. 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 MXN5.26 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Banco Azteca Institucion De Banca Multiple  (MEX:FPLUS16) 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.


Banco Azteca Institucion De Banca Multiple Cyclically Adjusted PB Ratio Related Terms


Banco Azteca Institucion De Banca Multiple Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Banco Azteca Institucion De Banca Multiple'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.

Banco Azteca Institucion De Banca Multiple Cyclically Adjusted PB Ratio Chart

Banco Azteca Institucion De Banca Multiple 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 0.00 1.75 0.96 1.33 1.14

Banco Azteca Institucion De Banca Multiple 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 1.15 1.11 0.99 1.14 1.00

MEX:FPLUS16 vs PNC, USB: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, Banco Azteca Institucion De Banca Multiple'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.


Banco Azteca Institucion De Banca Multiple Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio falls into.


MEX:FPLUS16
53GF Score
Banco Azteca SA Institucion De Banca Multiple MEX:FPLUS16
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Banco Azteca Institucion De Banca Multiple 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.

Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=5.06/5.26
=0.96

* 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.

Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Banco Azteca Institucion De Banca Multiple'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)
=2.295/166.0400*166.0400
=2.295

Current CPI (Mar. 2026) = 166.0400.

Banco Azteca Institucion De Banca Multiple Quarterly Data

Book Value per Share CPI Adj_Book
201606 3.745 101.905 6.102
201609 3.891 103.084 6.267
201612 4.060 105.002 6.420
201703 4.244 108.063 6.521
201706 4.374 108.339 6.704
201709 4.551 109.628 6.893
201712 4.734 112.114 7.011
201803 4.924 113.505 7.203
201806 5.123 113.373 7.503
201809 5.325 115.130 7.680
201812 5.532 117.530 7.815
201903 5.751 118.050 8.089
201906 5.862 117.848 8.259
201909 5.946 118.581 8.326
201912 5.866 120.854 8.059
202003 7.278 121.885 9.915
202006 6.949 121.777 9.475
202009 6.505 123.341 8.757
202012 5.984 124.661 7.970
202103 2.132 127.574 2.775
202106 2.152 128.936 2.771
202109 2.190 130.742 2.781
202112 2.260 133.830 2.804
202203 2.874 137.082 3.481
202206 2.832 139.233 3.377
202209 2.783 142.116 3.251
202212 2.753 144.291 3.168
202303 2.849 146.472 3.230
202306 2.943 146.272 3.341
202309 3.064 148.446 3.427
202312 3.097 151.017 3.405
202403 2.549 152.947 2.767
202406 2.653 153.551 2.869
202409 2.734 155.246 2.924
202412 2.879 157.378 3.037
202503 3.073 158.761 3.214
202506 3.238 160.180 3.356
202509 3.476 161.030 3.584
202512 3.670 163.190 3.734
202603 2.295 166.040 2.295

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 0.96 mean?
Banco Azteca Institucion De Banca Multiple (MEX:FPLUS16) has a Cyclically Adjusted PB Ratio of 0.96 as of Jul. 28, 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 Banco Azteca Institucion De Banca Multiple and its competitors. This is 16% below median its historical median of 1.14. Over the past decade, Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio has ranged from 0.94 to 1.76. According to the industry distribution chart, Banco Azteca Institucion De Banca Multiple ranks #425 out of 1292 companies in the Banks industry, placing it in the top 32.9%.
Is Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio too high?
Banco Azteca Institucion De Banca Multiple's current Cyclically Adjusted PB Ratio of 0.96 is 16% below median its 10-year median of 1.14. Over the past 10 years, this metric has ranged from a low of 0.94 to a high of 1.76. The Banks industry median Cyclically Adjusted PB Ratio is 1.27. Banco Azteca Institucion De Banca Multiple's value of 0.96 is 24.4% below this industry median. Based on the distribution chart, Banco Azteca Institucion De Banca Multiple ranks #425 out of 1292 companies in the Banks industry, which is above the industry midpoint. Overall, Banco Azteca Institucion De Banca Multiple has a GF Score™ of 53/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Banco Azteca Institucion De Banca Multiple's Cyclically Adjusted PB Ratio compare to PNC and USB?
According to the Banks industry distribution chart, Banco Azteca Institucion De Banca Multiple ranks #425 out of 1292 companies for Cyclically Adjusted PB Ratio. This puts Banco Azteca Institucion De Banca Multiple in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. Banco Azteca Institucion De Banca Multiple's value of 0.96 is 24.4% below this benchmark. Historically, Banco Azteca Institucion De Banca Multiple's own Cyclically Adjusted PB Ratio has ranged from 0.94 to 1.76 over the past decade. While the company's 10-year median is 1.14 vs. the industry median of 1.27, Banco Azteca Institucion De Banca Multiple 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 Banks company?
The median Cyclically Adjusted PB Ratio among Banks companies is 1.27, based on 1,292 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. Banco Azteca Institucion De Banca Multiple's current Cyclically Adjusted PB Ratio of 0.96 is 24.4% 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 Banco Azteca Institucion De Banca Multiple and its competitors. For the Banks industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Banco Azteca Institucion De Banca Multiple's current Cyclically Adjusted PB Ratio is 0.96, which is 16% below median its own 10-year median of 1.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Banco Azteca Institucion De Banca Multiple stock overvalued right now?
Based on GuruFocus' analysis, Banco Azteca Institucion De Banca Multiple (MEX:FPLUS16) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN6.04, compared to a current price of MXN5.06 — trading 16.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.96, which is 16% below median its 10-year median of 1.14 and 24.4% below the Banks industry median of 1.27. Banco Azteca Institucion De Banca Multiple's overall GF Score™ is 53/100 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 Banco Azteca Institucion De Banca Multiple (MEX:FPLUS16), the current Cyclically Adjusted PB Ratio is 0.96 as of Jul. 28, 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 Banco Azteca Institucion De Banca Multiple (MEX:FPLUS16) Overvalued in 2026?

Based on GuruFocus' analysis, Banco Azteca Institucion De Banca Multiple stock appears to be undervalued. The current stock price of MXN5.06 is trading 16.2% below its estimated GF Value™ of MXN6.04. GuruFocus considers Banco Azteca Institucion De Banca Multiple to be Modestly Undervalued.

Key valuation signals for MEX:FPLUS16:

  • Cyclically Adjusted PB Ratio: 0.96 (16% below median its 10-year median of 1.14)
  • GF Value™: MXN6.04 vs. price of MXN5.06 (16.2% below fair value)
  • GF Score™: 53/100 with 1 warning sign
  • Industry Position: 24.4% below the Banks median (#425 of 1292)

No single metric tells the full story. See the MEX:FPLUS16 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Banco Azteca Institucion De Banca Multiple Business Description

Address Insurgentes Sur No. 3579, Torre 2 Piso 6, Col. Villa Olimpica, Delegacion Tlalpan, Distrito Federal, Mexico City, MEX, 14020
Banco Azteca SA Institucion De Banca Multiple provides banking products and services. The company's business divisions include Debit Business, Aztec businessman, Micronegocity and Aztec Point.
53GF Score

Get the complete analysis for MEX:FPLUS16

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

MXN5.06
Price
MXN6.04
GF Value