Ventas (MEX:VTR) Cyclically Adjusted PB Ratio: 2.92 (As of Jul. 25, 2026) — 55% Above Median

Author: 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
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:VTR Ventas Inc MEX:VTR
68 GF Score
Price MXN1,668.90
GF Value MXN1,174.19
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is Ventas Cyclically Adjusted PB Ratio?

Ventas MEX:VTR 68 Cyclically Adjusted PB Ratio is 2.92 as of Jul. 25, 2026, which is 55% above its 10-year median of 1.88. GuruFocus rates MEX:VTR with a GF Score™ of 68/100 and a GF Value™ of MXN1,174.19 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 557 REITs companies, Ventas ranks worse than 92.82% on this metric.

As of today (2026-07-25), Ventas's current share price is MXN1668.90. Ventas's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was MXN571.45. Ventas's Cyclically Adjusted PB Ratio for today is 2.92.

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

MEX:VTR' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.72   Med: 1.88   Max: 3.23
Current: 3.07

During the past years, Ventas's highest Cyclically Adjusted PB Ratio was 3.23. The lowest was 0.72. And the median was 1.88.

MEX:VTR's Cyclically Adjusted PB Ratio is ranked worse than
92.82% of 557 companies
in the REITs industry
Industry Median: 0.83 vs MEX:VTR: 3.07

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.

Ventas's adjusted book value per share data for the three months ended in Mar. 2026 was MXN486.896. 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 MXN571.45 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Ventas  (MEX:VTR) 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.


Ventas Cyclically Adjusted PB Ratio Related Terms


Ventas Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ventas'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.

Ventas Cyclically Adjusted PB Ratio Chart

Ventas 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 1.53 1.32 1.48 1.78 2.39

Ventas 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 2.08 1.92 2.13 2.39 2.50

MEX:VTR vs DOC, OHI, AHR: Cyclically Adjusted PB Ratio Comparison

For the REIT - Healthcare Facilities subindustry, Ventas'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.


Ventas Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Ventas's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MEX:VTR
68GF Score
Ventas Inc MEX:VTR
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ventas 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1668.90/571.45
=2.92

* 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.

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

For example, Ventas'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)
=486.896/330.2130*330.2130
=486.896

Current CPI (Mar. 2026) = 330.2130.

Ventas Quarterly Data

Book Value per Share CPI Adj_Book
201606 525.419 241.018 719.864
201609 573.221 241.428 784.023
201612 608.992 241.432 832.935
201703 552.598 243.801 748.459
201706 526.548 244.955 709.816
201709 546.807 246.819 731.559
201712 599.146 246.524 802.542
201803 547.661 249.554 724.672
201806 585.345 251.989 767.051
201809 548.503 252.439 717.491
201812 562.547 251.233 739.395
201903 549.359 254.202 713.627
201906 559.496 256.143 721.288
201909 564.930 256.759 726.546
201912 528.446 256.974 679.056
202003 668.293 258.115 854.964
202006 637.929 257.797 817.125
202009 602.446 260.280 764.313
202012 540.574 260.474 685.307
202103 543.388 264.877 677.423
202106 524.323 271.696 637.250
202109 570.574 274.310 686.854
202112 557.475 278.802 660.273
202203 532.992 287.504 612.168
202206 529.117 296.311 589.655
202209 521.418 296.808 580.102
202212 495.231 296.797 550.988
202303 450.427 301.836 492.774
202306 426.581 305.109 461.680
202309 424.998 307.789 455.961
202312 400.528 306.746 431.170
202403 385.854 312.332 407.944
202406 426.542 314.175 448.316
202409 458.322 315.301 479.998
202412 513.960 315.605 537.749
202503 520.037 319.799 536.972
202506 478.203 322.561 489.547
202509 483.055 324.800 491.105
202512 474.941 324.054 483.968
202603 486.896 330.213 486.896

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 2.92 mean?
Ventas (MEX:VTR) has a Cyclically Adjusted PB Ratio of 2.92 as of Jul. 25, 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 Ventas and its competitors. This is 55% above median its historical median of 1.88. Over the past decade, Ventas' Cyclically Adjusted PB Ratio has ranged from 0.72 to 3.23. According to the industry distribution chart, Ventas ranks #517 out of 557 companies in the REITs industry, placing it in the top 92.8%.
Is Ventas' Cyclically Adjusted PB Ratio too high?
Ventas' current Cyclically Adjusted PB Ratio of 2.92 is 55% above median its 10-year median of 1.88. Over the past 10 years, this metric has ranged from a low of 0.72 to a high of 3.23. The REITs industry median Cyclically Adjusted PB Ratio is 0.83. Ventas' value of 2.92 is 251.8% above this industry median. Based on the distribution chart, Ventas ranks #517 out of 557 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Ventas has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ventas' Cyclically Adjusted PB Ratio compare to DOC and OHI?
According to the REITs industry distribution chart, Ventas ranks #517 out of 557 companies for Cyclically Adjusted PB Ratio. This places Ventas in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.83. Ventas' value of 2.92 is 251.8% above this benchmark. Historically, Ventas' own Cyclically Adjusted PB Ratio has ranged from 0.72 to 3.23 over the past decade. While the company's 10-year median is 1.88 vs. the industry median of 0.83, Ventas 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 REITs company?
The median Cyclically Adjusted PB Ratio among REITs companies is 0.83, based on 557 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. Ventas's current Cyclically Adjusted PB Ratio of 2.92 is 251.8% 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 Ventas and its competitors. For the REITs industry, the median Cyclically Adjusted PB Ratio is 0.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ventas's current Cyclically Adjusted PB Ratio is 2.92, which is 55% above median its own 10-year median of 1.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ventas stock overvalued right now?
Based on GuruFocus' analysis, Ventas (MEX:VTR) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN1,174.19, compared to a current price of MXN1,668.90 — trading 42.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.92, which is 55% above median its 10-year median of 1.88 and 251.8% above the REITs industry median of 0.83. Ventas' overall GF Score™ is 68/100 with 9 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 Ventas (MEX:VTR), the current Cyclically Adjusted PB Ratio is 2.92 as of Jul. 25, 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 Ventas (MEX:VTR) Overvalued in 2026?

Based on GuruFocus' analysis, Ventas stock appears to be overvalued. The current stock price of MXN1,668.90 is trading 42.1% above its estimated GF Value™ of MXN1,174.19. GuruFocus considers Ventas to be Significantly Overvalued.

Key valuation signals for MEX:VTR:

  • Cyclically Adjusted PB Ratio: 2.92 (55% above median its 10-year median of 1.88)
  • GF Value™: MXN1,174.19 vs. price of MXN1,668.90 (42.1% above fair value)
  • GF Score™: 68/100 with 9 warning signs
  • Industry Position: 251.8% above the REITs median (#517 of 557)

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


Ventas Business Description

Industry Real EstateREITs
Address 300 North LaSalle Street, Suite 1600, Chicago, IL, USA, 60654
Ventas owns a diversified healthcare portfolio of almost 1,400 in-place properties spread across the senior housing, medical office, hospital, life science, and skilled nursing/post-acute care. The portfolio includes almost 100 properties in Canada and the United Kingdom as the company looks for additional investment opportunities in countries with mature healthcare systems that operate similarly to the United States. The firm also owns mortgages and other loans, contributing about 1% of net operating income.
68GF Score

Get the complete analysis for MEX:VTR

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

MXN1,668.90
Price
MXN1,174.19
GF Value