Fraport AG (MIL:1FRA) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.
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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:1FRA Fraport AG MIL:1FRA
56 GF Score
Price €63.20
GF Value €62.14
Valuation Fairly Valued
! 3 Warning Signs
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What is Fraport AG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Fraport AG  (MIL:1FRA) 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.


Fraport AG Cyclically Adjusted PB Ratio Related Terms


Fraport AG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Fraport 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.

Fraport AG Cyclically Adjusted PB Ratio Chart

Fraport AG 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 - - 1.06 0.96 1.30

Fraport AG Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 1.13 1.39 1.32 1.43 1.33

MIL:1FRA vs JOBY: Cyclically Adjusted PB Ratio Comparison

For the Airports & Air Services subindustry, Fraport 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.


Fraport AG Cyclically Adjusted PB Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Fraport AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MIL:1FRA
56GF Score
Fraport AG MIL:1FRA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Fraport 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.

Fraport AG's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Fraport AG's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=59.697/131.3638*131.3638
=59.697

Current CPI (Jun. 2026) = 131.3638.

Fraport AG Quarterly Data

Book Value per Share CPI Adj_Book
201609 39.376 101.017 51.205
201612 41.593 101.217 53.981
201703 42.321 101.417 54.818
201706 41.552 102.117 53.453
201709 43.605 102.717 55.766
201712 43.605 102.617 55.820
201803 43.677 102.917 55.749
201806 43.427 104.017 54.844
201809 45.861 104.718 57.531
201812 47.277 104.217 59.592
201903 47.700 104.217 60.125
201906 46.857 105.718 58.224
201909 49.588 106.018 61.443
201912 50.039 105.818 62.119
202003 48.849 105.718 60.699
202006 46.478 106.618 57.266
202009 42.667 105.818 52.968
202012 40.682 105.518 50.647
202103 39.936 107.518 48.793
202106 41.068 108.486 49.729
202109 42.391 109.435 50.886
202112 42.309 110.384 50.351
202203 41.589 113.968 47.937
202206 42.407 115.760 48.123
202209 44.033 118.818 48.682
202212 44.722 119.345 49.226
202303 44.373 122.402 47.622
202306 45.811 123.140 48.870
202309 49.321 124.195 52.168
202312 49.705 123.773 52.753
202403 50.266 125.038 52.809
202406 51.673 125.882 53.923
202409 54.032 126.198 56.244
202412 56.045 127.041 57.952
202503 55.349 127.779 56.902
202506 55.636 128.412 56.915
202509 59.356 129.255 60.324
202512 59.674 129.361 60.598
202603 59.770 131.258 59.818
202606 59.697 131.364 59.697

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.

Is Fraport AG (MIL:1FRA) Overvalued in 2026?

Based on GuruFocus' analysis, Fraport AG stock appears to be overvalued. The current stock price of €63.20 is trading 1.7% above its estimated GF Value™ of €62.14. GuruFocus considers Fraport AG to be Fairly Valued.

Key valuation signals for MIL:1FRA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €62.14 vs. price of €63.20 (1.7% above fair value)
  • GF Score™: 56/100 with 3 warning signs

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


Fraport AG Business Description

Address Frankfurt Airport Services Worldwide, Frankfurt am Main, HE, DEU, 60547
Fraport owns and operates Frankfurt Airport, a European cargo and transfer hub, and international concessions including Lima Airport, Antalya Airport, and a network of 14 Greek airports. Frankfurt Airport operates under a dual-till model, leaving its commercial activities completely unregulated. The German business is split between regulated aviation activities, retail & real estate activities, and ground handling services. In 2025, retail & real estate contributed 33% of the group's operating profit, despite generating only 13% of the sales. Lufthansa accounted for 65% of Frankfurt Airport's total seat capacity in 2025. It has the highest contribution from its international segment among our European airport coverage, with 42% of EBITDA deriving from overseas operations in 2025.
56GF Score

Get the complete analysis for MIL:1FRA

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

€63.20
Price
€62.14
GF Value