Acinque SpA (MIL:AC5) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

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.

MIL:AC5 Acinque SpA MIL:AC5
64 GF Score
Price €2.08
GF Value €1.97
Valuation Fairly Valued
! 6 Warning Signs
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What is Acinque SpA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Acinque SpA  (MIL:AC5) 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.


Acinque SpA Cyclically Adjusted PB Ratio Related Terms


Acinque SpA Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Acinque SpA'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.

Acinque SpA Cyclically Adjusted PB Ratio Chart

Acinque SpA 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 1.00 0.74 0.73 0.71 0.79

Acinque SpA Semi-Annual Data
Jun13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun21 Dec21 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 0.74 0.71 0.75 0.79 0.75

MIL:AC5 vs SRE, AES: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Diversified subindustry, Acinque SpA'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.


Acinque SpA Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

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

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


MIL:AC5
64GF Score
Acinque SpA MIL:AC5
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Acinque SpA 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.

Acinque SpA's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Acinque SpA's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=2.667/122.6000*122.6000
=2.667

Current CPI (Dec25) = 122.6000.

Acinque SpA Annual Data

Book Value per Share CPI Adj_Book
201612 2.361 100.300 2.886
201712 2.441 101.200 2.957
201812 2.480 102.300 2.972
201912 2.470 102.800 2.946
202012 2.481 102.600 2.965
202112 2.622 106.600 3.016
202212 2.676 119.000 2.757
202312 2.648 119.700 2.712
202412 2.659 121.200 2.690
202512 2.667 122.600 2.667

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 Acinque SpA (MIL:AC5) Overvalued in 2026?

Based on GuruFocus' analysis, Acinque SpA stock appears to be overvalued. The current stock price of €2.08 is trading 5.6% above its estimated GF Value™ of €1.97. GuruFocus considers Acinque SpA to be Fairly Valued.

Key valuation signals for MIL:AC5:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €1.97 vs. price of €2.08 (5.6% above fair value)
  • GF Score™: 64/100 with 6 warning signs

No single metric tells the full story. See the MIL:AC5 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Acinque SpA Business Description

Address Via Pietro Stazzi, 2, Como, ITA, 22100
Acinque SpA is an Italy-based company, engaged in public utility services. It operates in four sectors namely water, electricity and gas distribution, electricity and gas sales, urban hygiene and waste-to-energy and technologies, district heating, efficiency and smart city.
64GF Score

Get the complete analysis for MIL:AC5

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

€2.08
Price
€1.97
GF Value