TNS energo Voronezh PJSC (MIC:VRSB) Cyclically Adjusted PB Ratio: 14.34 (As of Aug. 01, 2026)

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.

MIC:VRSB TNS energo Voronezh PJSC MIC:VRSB
17 GF Score
Price ₽242.00
View Full Analysis

What is TNS energo Voronezh PJSC Cyclically Adjusted PB Ratio?

TNS energo Voronezh PJSC MIC:VRSB -1.43% 17 Cyclically Adjusted PB Ratio is 14.34 as of Aug. 01, 2026. GuruFocus rates MIC:VRSB with a GF Score™ of 17/100.

As of today (2026-08-01), TNS energo Voronezh PJSC's current share price is ₽242.00. TNS energo Voronezh PJSC's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 was ₽16.87. TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio for today is 14.34.

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

MIC:VRSB's Cyclically Adjusted PB Ratio is not ranked *
in the Utilities - Regulated industry.
Industry Median: 1.53
* Ranked among companies with meaningful Cyclically Adjusted PB Ratio only.

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.

TNS energo Voronezh PJSC's adjusted book value per share data for the three months ended in Sep. 2023 was ₽145.473. 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 ₽16.87 for the trailing ten years ended in Sep. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


TNS energo Voronezh PJSC  (MIC:VRSB) 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.


TNS energo Voronezh PJSC Cyclically Adjusted PB Ratio Related Terms


TNS energo Voronezh PJSC Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for TNS energo Voronezh PJSC'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.

TNS energo Voronezh PJSC Cyclically Adjusted PB Ratio Chart

TNS energo Voronezh PJSC Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 8.77 23.86 12.47

TNS energo Voronezh PJSC Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
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 11.15 12.47 23.61 26.61 45.26

MIC:VRSB vs NEE, SO, DUK: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, TNS energo Voronezh PJSC'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.


TNS energo Voronezh PJSC Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio falls into.


MIC:VRSB
17GF Score
TNS energo Voronezh PJSC MIC:VRSB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TNS energo Voronezh PJSC 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.

TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=242.00/16.87
=14.34

* 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.

TNS energo Voronezh PJSC's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 is calculated as:

For example, TNS energo Voronezh PJSC's adjusted Book Value per Share data for the three months ended in Sep. 2023 was:

Adj_Book=Book Value per Share/CPI of Sep. 2023 (Change)*Current CPI (Sep. 2023)
=145.473/242.6000*242.6000
=145.473

Current CPI (Sep. 2023) = 242.6000.

TNS energo Voronezh PJSC Quarterly Data

Book Value per Share CPI Adj_Book
201312 4.344 124.900 8.438
201403 4.969 127.800 9.433
201406 4.907 130.900 9.094
201409 4.704 132.700 8.600
201412 5.310 139.000 9.268
201503 6.824 149.400 11.081
201506 6.862 150.900 11.032
201509 6.966 153.500 11.009
201512 7.703 157.000 11.903
201603 11.101 160.200 16.811
201606 7.699 162.200 11.515
201609 7.968 163.300 11.837
201612 5.789 165.400 8.491
201703 5.939 167.000 8.628
201706 5.943 169.200 8.521
201709 4.679 168.200 6.749
201712 4.428 169.600 6.334
201803 5.579 171.000 7.915
201806 5.153 173.100 7.222
201809 5.203 173.900 7.258
201812 4.780 176.800 6.559
201903 5.568 179.900 7.509
201906 5.574 181.200 7.463
201909 6.373 180.800 8.551
201912 7.273 182.200 9.684
202003 9.038 184.500 11.884
202006 9.262 187.000 12.016
202009 8.579 187.400 11.106
202012 9.515 191.100 12.079
202103 12.181 195.200 15.139
202106 13.244 199.100 16.138
202109 14.424 201.300 17.383
202112 18.479 207.200 21.636
202203 24.136 227.800 25.704
202206 13.770 230.800 14.474
202209 16.784 228.800 17.796
202212 23.877 231.900 24.979
202303 36.186 235.800 37.230
202306 59.962 238.300 61.044
202309 145.473 242.600 145.473

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 14.34 mean?
TNS energo Voronezh PJSC (MIC:VRSB) has a Cyclically Adjusted PB Ratio of 14.34 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 TNS energo Voronezh PJSC and its competitors.
Is TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio too high?
TNS energo Voronezh PJSC's current Cyclically Adjusted PB Ratio is 14.34. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.53. TNS energo Voronezh PJSC's value of 14.34 is 837.3% above this industry median. Overall, TNS energo Voronezh PJSC has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio compare to NEE and SO?
TNS energo Voronezh PJSC's Cyclically Adjusted PB Ratio of 14.34 can be compared against companies in the Utilities - Regulated industry. The industry median Cyclically Adjusted PB Ratio is 1.53. TNS energo Voronezh PJSC's value of 14.34 is 837.3% above this benchmark. 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 an Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.53, based on 439 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. TNS energo Voronezh PJSC's current Cyclically Adjusted PB Ratio of 14.34 is 837.3% 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 TNS energo Voronezh PJSC and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PB Ratio is 1.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TNS energo Voronezh PJSC's current Cyclically Adjusted PB Ratio is 14.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TNS energo Voronezh PJSC stock overvalued right now?
TNS energo Voronezh PJSC (MIC:VRSB) has a current Cyclically Adjusted PB Ratio of 14.34. The current Cyclically Adjusted PB Ratio is 14.34 and 837.3% above the Utilities - Regulated industry median of 1.53. TNS energo Voronezh PJSC's overall GF Score™ is 17/100. 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 TNS energo Voronezh PJSC (MIC:VRSB), the current Cyclically Adjusted PB Ratio is 14.34 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.

TNS energo Voronezh PJSC Business Description

Address Merkulova 7A, Voronezh, RUS, 394029
TNS energo Voronezh PJSC is engaged in the purchase and sale of electricity in the wholesale and retail markets.
17GF Score

Get the complete analysis for MIC:VRSB

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

₽242.00
Price