Holcim Ecuador (QUI:HLE) Cyclically Adjusted PB Ratio: 2.46 (As of Aug. 03, 2026) — Near 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.

QUI:HLE Holcim Ecuador SA QUI:HLE
100 GF Score
Price $45.00
GF Value $52.86
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Holcim Ecuador Cyclically Adjusted PB Ratio?

Holcim Ecuador QUI:HLE 100 Cyclically Adjusted PB Ratio is 2.46 as of Aug. 03, 2026, which is at its 10-year median of 2.46. GuruFocus rates QUI:HLE with a GF Score™ of 100/100 and a GF Value™ of $52.86 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 314 Building Materials companies, Holcim Ecuador ranks worse than 72.93% on this metric.

As of today (2026-08-03), Holcim Ecuador's current share price is $45.00. Holcim Ecuador's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 was $18.31. Holcim Ecuador's Cyclically Adjusted PB Ratio for today is 2.46.

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

QUI:HLE' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.96   Med: 2.46   Max: 2.55
Current: 2.06

During the past 13 years, Holcim Ecuador's highest Cyclically Adjusted PB Ratio was 2.55. The lowest was 1.96. And the median was 2.46.

QUI:HLE's Cyclically Adjusted PB Ratio is ranked worse than
72.93% of 314 companies
in the Building Materials industry
Industry Median: 0.97 vs QUI:HLE: 2.06

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.

Holcim Ecuador's adjusted book value per share data of for the fiscal year that ended in Dec25 was $15.418. 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 $18.31 for the trailing ten years ended in Dec25.

Shiller PE for Stocks: The True Measure of Stock Valuation


Holcim Ecuador  (QUI:HLE) 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.


Holcim Ecuador Cyclically Adjusted PB Ratio Related Terms


Holcim Ecuador Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Holcim Ecuador'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.

Holcim Ecuador Cyclically Adjusted PB Ratio Chart

Holcim Ecuador 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 2.21 2.46 2.49 2.49 2.21

Holcim Ecuador Semi-Annual Data
Dec12 Dec13 Dec14 Dec15 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.21 2.46 2.49 2.49 2.21

QUI:HLE vs CRH, VMC, MLM: Cyclically Adjusted PB Ratio Comparison

For the Building Materials subindustry, Holcim Ecuador'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.


Holcim Ecuador Cyclically Adjusted PB Ratio vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, Holcim Ecuador's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


QUI:HLE
100GF Score
Holcim Ecuador SA QUI:HLE
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Holcim Ecuador 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.

Holcim Ecuador's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=45.00/18.31
=2.46

* 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.

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

For example, Holcim Ecuador'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)
=15.418/324.0540*324.0540
=15.418

Current CPI (Dec25) = 324.0540.

Holcim Ecuador Annual Data

Book Value per Share CPI Adj_Book
201612 16.988 241.432 22.802
201712 16.586 246.524 21.802
201812 19.111 251.233 24.650
201912 16.963 256.974 21.391
202012 19.503 260.474 24.264
202112 16.163 278.802 18.786
202212 16.735 296.797 18.272
202312 16.127 306.746 17.037
202412 18.526 315.605 19.022
202512 15.418 324.054 15.418

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 2.46 mean?
Holcim Ecuador (QUI:HLE) has a Cyclically Adjusted PB Ratio of 2.46 as of Aug. 03, 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 Holcim Ecuador and its competitors. This is near median its historical median of 2.46. Over the past decade, Holcim Ecuador's Cyclically Adjusted PB Ratio has ranged from 1.96 to 2.55. According to the industry distribution chart, Holcim Ecuador ranks #229 out of 314 companies in the Building Materials industry, placing it in the top 72.9%.
Is Holcim Ecuador's Cyclically Adjusted PB Ratio too high?
Holcim Ecuador's current Cyclically Adjusted PB Ratio of 2.46 is near median its 10-year median of 2.46. Over the past 10 years, this metric has ranged from a low of 1.96 to a high of 2.55. The Building Materials industry median Cyclically Adjusted PB Ratio is 0.97. Holcim Ecuador's value of 2.46 is 153.6% above this industry median. Based on the distribution chart, Holcim Ecuador ranks #229 out of 314 companies in the Building Materials industry, which is below the industry midpoint. Overall, Holcim Ecuador has a GF Score™ of 100/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Holcim Ecuador's Cyclically Adjusted PB Ratio compare to CRH and VMC?
According to the Building Materials industry distribution chart, Holcim Ecuador ranks #229 out of 314 companies for Cyclically Adjusted PB Ratio. This places Holcim Ecuador in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.97. Holcim Ecuador's value of 2.46 is 153.6% above this benchmark. Historically, Holcim Ecuador's own Cyclically Adjusted PB Ratio has ranged from 1.96 to 2.55 over the past decade. While the company's 10-year median is 2.46 vs. the industry median of 0.97, Holcim Ecuador 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 Building Materials company?
The median Cyclically Adjusted PB Ratio among Building Materials companies is 0.97, based on 314 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. Holcim Ecuador's current Cyclically Adjusted PB Ratio of 2.46 is 153.6% 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 Holcim Ecuador and its competitors. For the Building Materials industry, the median Cyclically Adjusted PB Ratio is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Holcim Ecuador's current Cyclically Adjusted PB Ratio is 2.46, which is near median its own 10-year median of 2.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Holcim Ecuador stock overvalued right now?
Based on GuruFocus' analysis, Holcim Ecuador (QUI:HLE) is currently considered Modestly Undervalued. The stock's GF Value™ is $52.86, compared to a current price of $45.00 — trading 14.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.46, which is near median its 10-year median of 2.46 and 153.6% above the Building Materials industry median of 0.97. Holcim Ecuador's overall GF Score™ is 100/100 with 1 warning sign 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 Holcim Ecuador (QUI:HLE), the current Cyclically Adjusted PB Ratio is 2.46 as of Aug. 03, 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 Holcim Ecuador (QUI:HLE) Overvalued in 2026?

Based on GuruFocus' analysis, Holcim Ecuador stock appears to be undervalued. The current stock price of $45.00 is trading 14.9% below its estimated GF Value™ of $52.86. GuruFocus considers Holcim Ecuador to be Modestly Undervalued.

Key valuation signals for QUI:HLE:

  • Cyclically Adjusted PB Ratio: 2.46 (near median its 10-year median of 2.46)
  • GF Value™: $52.86 vs. price of $45.00 (14.9% below fair value)
  • GF Score™: 100/100 with 1 warning sign
  • Industry Position: 153.6% above the Building Materials median (#229 of 314)

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


Holcim Ecuador Business Description

Other Exchanges HLE:Ecuador
Address Barcelona Avenue, San Eduardo I Urbanization, El Caiman Building, 2nd Floor, Guayaquil, ECU
Holcim Ecuador SA is an Ecuador-based company engaged in the manufacturing and production of clinker, cement, and concrete. The company offers products and services for road development, buildings, infrastructure, developments and residences, and agro-industrial solutions.
100GF Score

Get the complete analysis for QUI:HLE

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

$45.00
Price
$52.86
GF Value