Dominion Energy (MIL:1D) Cyclically Adjusted PB Ratio: 2.03 (As of Jul. 21, 2026) — 29% 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.

MIL:1D Dominion Energy Inc MIL:1D
50 GF Score
Price €60.06
GF Value €53.10
Valuation Modestly Overvalued
! 10 Warning Signs
View Full Analysis

What is Dominion Energy Cyclically Adjusted PB Ratio?

Dominion Energy MIL:1D 50 Cyclically Adjusted PB Ratio is 2.03 as of Jul. 21, 2026, which is 29% below its 10-year median of 2.84. GuruFocus rates MIL:1D with a GF Score™ of 50/100 and a GF Value™ of €53.10 (Modestly Overvalued). The stock has 10 warning signs investors should review. Among 441 Utilities - Regulated companies, Dominion Energy ranks worse than 64.63% on this metric.

As of today (2026-07-21), Dominion Energy's current share price is €60.06. Dominion Energy's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €29.56. Dominion Energy's Cyclically Adjusted PB Ratio for today is 2.03.

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

MIL:1D' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.24   Med: 2.84   Max: 3.92
Current: 1.99

During the past years, Dominion Energy's highest Cyclically Adjusted PB Ratio was 3.92. The lowest was 1.24. And the median was 2.84.

MIL:1D's Cyclically Adjusted PB Ratio is ranked worse than
64.63% of 441 companies
in the Utilities - Regulated industry
Industry Median: 1.53 vs MIL:1D: 1.99

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.

Dominion Energy's adjusted book value per share data for the three months ended in Mar. 2026 was €27.709. 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 €29.56 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Dominion Energy  (MIL:1D) 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.


Dominion Energy Cyclically Adjusted PB Ratio Related Terms


Dominion Energy Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Dominion Energy'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.

Dominion Energy Cyclically Adjusted PB Ratio Chart

Dominion Energy 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 2.78 2.00 1.45 1.60 1.68

Dominion Energy 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 1.64 1.63 1.75 1.68 1.74

MIL:1D vs ETR, XEL, EXC: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, Dominion Energy'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.


Dominion Energy Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Dominion Energy's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MIL:1D
50GF Score
Dominion Energy Inc MIL:1D
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dominion Energy 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.

Dominion Energy's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=60.06/29.56
=2.03

* 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.

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

For example, Dominion Energy'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)
=27.709/330.2130*330.2130
=27.709

Current CPI (Mar. 2026) = 330.2130.

Dominion Energy Quarterly Data

Book Value per Share CPI Adj_Book
201606 20.558 241.018 28.166
201609 21.256 241.428 29.073
201612 22.047 241.432 30.154
201703 22.174 243.801 30.033
201706 21.152 244.955 28.514
201709 21.210 246.819 28.376
201712 22.457 246.524 30.081
201803 21.969 249.554 29.070
201806 23.643 251.989 30.982
201809 24.166 252.439 31.611
201812 25.953 251.233 34.112
201903 29.694 254.202 38.573
201906 28.766 256.143 37.084
201909 30.550 256.759 39.290
201912 31.797 256.974 40.859
202003 30.568 258.115 39.106
202006 27.997 257.797 35.861
202009 24.918 260.280 31.613
202012 24.201 260.474 30.681
202103 25.338 264.877 31.588
202106 24.852 271.696 30.205
202109 25.730 274.310 30.974
202112 27.888 278.802 33.031
202203 28.815 287.504 33.095
202206 30.147 296.311 33.596
202209 32.482 296.808 36.138
202212 29.254 296.797 32.548
202303 29.688 301.836 32.479
202306 29.383 305.109 31.801
202309 29.381 307.789 31.522
202312 28.215 306.746 30.374
202403 28.165 312.332 29.777
202406 28.485 314.175 29.939
202409 28.084 315.301 29.412
202412 29.000 315.605 30.342
202503 28.600 319.799 29.531
202506 26.661 322.561 27.293
202509 26.637 324.800 27.081
202512 27.293 324.054 27.812
202603 27.709 330.213 27.709

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 2.03 mean?
Dominion Energy (MIL:1D) has a Cyclically Adjusted PB Ratio of 2.03 as of Jul. 21, 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 Dominion Energy and its competitors. This is 29% below median its historical median of 2.84. Over the past decade, Dominion Energy's Cyclically Adjusted PB Ratio has ranged from 1.24 to 3.92. According to the industry distribution chart, Dominion Energy ranks #285 out of 441 companies in the Utilities - Regulated industry, placing it in the top 64.6%.
Is Dominion Energy's Cyclically Adjusted PB Ratio too high?
Dominion Energy's current Cyclically Adjusted PB Ratio of 2.03 is 29% below median its 10-year median of 2.84. Over the past 10 years, this metric has ranged from a low of 1.24 to a high of 3.92. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.53. Dominion Energy's value of 2.03 is 32.7% above this industry median. Based on the distribution chart, Dominion Energy ranks #285 out of 441 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Dominion Energy has a GF Score™ of 50/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Dominion Energy's Cyclically Adjusted PB Ratio compare to ETR and XEL?
According to the Utilities - Regulated industry distribution chart, Dominion Energy ranks #285 out of 441 companies for Cyclically Adjusted PB Ratio. This places Dominion Energy in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.53. Dominion Energy's value of 2.03 is 32.7% above this benchmark. Historically, Dominion Energy's own Cyclically Adjusted PB Ratio has ranged from 1.24 to 3.92 over the past decade. While the company's 10-year median is 2.84 vs. the industry median of 1.53, Dominion Energy 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 an Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.53, based on 441 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. Dominion Energy's current Cyclically Adjusted PB Ratio of 2.03 is 32.7% 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 Dominion Energy 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. Dominion Energy's current Cyclically Adjusted PB Ratio is 2.03, which is 29% below median its own 10-year median of 2.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dominion Energy stock overvalued right now?
Based on GuruFocus' analysis, Dominion Energy (MIL:1D) is currently considered Modestly Overvalued. The stock's GF Value™ is €53.10, compared to a current price of €60.06 — trading 13.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.03, which is 29% below median its 10-year median of 2.84 and 32.7% above the Utilities - Regulated industry median of 1.53. Dominion Energy's overall GF Score™ is 50/100 with 10 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 Dominion Energy (MIL:1D), the current Cyclically Adjusted PB Ratio is 2.03 as of Jul. 21, 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 Dominion Energy (MIL:1D) Overvalued in 2026?

Based on GuruFocus' analysis, Dominion Energy stock appears to be overvalued. The current stock price of €60.06 is trading 13.1% above its estimated GF Value™ of €53.10. GuruFocus considers Dominion Energy to be Modestly Overvalued.

Key valuation signals for MIL:1D:

  • Cyclically Adjusted PB Ratio: 2.03 (29% below median its 10-year median of 2.84)
  • GF Value™: €53.10 vs. price of €60.06 (13.1% above fair value)
  • GF Score™: 50/100 with 10 warning signs
  • Industry Position: 32.7% above the Utilities - Regulated median (#285 of 441)

No single metric tells the full story. See the MIL:1D stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Dominion Energy Business Description

Address 600 East Canal Street, Richmond, VA, USA, 23219
Based in Richmond, Virginia, Dominion Energy is an integrated energy company with over 31 gigawatts of electric generation capacity and more than 91,000 miles of electric transmission and distribution lines. Dominion is constructing a rate-regulated 5.2 GW wind farm off the Virginia Beach coast.
50GF Score

Get the complete analysis for MIL:1D

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

€60.06
Price
€53.10
GF Value