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Chongqing Brewery CoSHSE:600132 +0.98%88 Cyclically Adjusted PB Ratio is 12.32 as of Aug. 30, 2026, which is 31% below its 10-year median of 17.78. GuruFocus rates SHSE:600132 with a GF Score™ of 88/100 and a GF Value™ of ¥56.20 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 156 Beverages - Alcoholic companies, Chongqing Brewery Co ranks worse than 96.79% on this metric.
The historical rank and industry rank for Chongqing Brewery Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
SHSE:600132'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 5.76 Med: 17.78 Max: 67.78
Current: 12.31
During the past years, Chongqing Brewery Co's highest Cyclically Adjusted PB Ratio was 67.78. The lowest was 5.76. And the median was 17.78.
SHSE:600132's Cyclically Adjusted PB Ratio is ranked worse than 96.79% of 156
companies
in the Beverages - Alcoholic industry
Industry Median: 1.385
vs SHSE:600132: 12.31
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.
Chongqing Brewery Co's adjusted book value per share data for the three months ended in Jun. 2026 was ¥3.273. 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 ¥3.27 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Chongqing Brewery Co (SHSE:600132) 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.
Chongqing Brewery Co Cyclically Adjusted PB Ratio Related Terms
Chongqing Brewery Co Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Chongqing Brewery Co'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.
Chongqing Brewery Co Cyclically Adjusted PB Ratio Chart
SHSE:600132 vs STZ: Cyclically Adjusted PB Ratio Comparison
For the Beverages - Brewers subindustry, Chongqing Brewery Co'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.
Chongqing Brewery Co Cyclically Adjusted PB Ratio vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Chongqing Brewery Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Chongqing Brewery Co's Cyclically Adjusted PB Ratio falls into.
Chongqing Brewery Co 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.
* 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.
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 12.32 mean?
Chongqing Brewery Co (SHSE:600132) has a Cyclically Adjusted PB Ratio of 12.32 as of Aug. 30, 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 Chongqing Brewery Co and its competitors. This is 31% below median its historical median of 17.78. Over the past decade, Chongqing Brewery Co's Cyclically Adjusted PB Ratio has ranged from 5.76 to 67.78. According to the industry distribution chart, Chongqing Brewery Co ranks #151 out of 156 companies in the Beverages - Alcoholic industry, placing it in the top 96.8%.
Is Chongqing Brewery Co's Cyclically Adjusted PB Ratio too high?
Chongqing Brewery Co's current Cyclically Adjusted PB Ratio of 12.32 is 31% below median its 10-year median of 17.78. Over the past 10 years, this metric has ranged from a low of 5.76 to a high of 67.78. The Beverages - Alcoholic industry median Cyclically Adjusted PB Ratio is 1.39. Chongqing Brewery Co's value of 12.32 is 789.5% above this industry median. Based on the distribution chart, Chongqing Brewery Co ranks #151 out of 156 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Chongqing Brewery Co has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Chongqing Brewery Co's Cyclically Adjusted PB Ratio compare to STZ?
According to the Beverages - Alcoholic industry distribution chart, Chongqing Brewery Co ranks #151 out of 156 companies for Cyclically Adjusted PB Ratio. This places Chongqing Brewery Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.39. Chongqing Brewery Co's value of 12.32 is 789.5% above this benchmark. Historically, Chongqing Brewery Co's own Cyclically Adjusted PB Ratio has ranged from 5.76 to 67.78 over the past decade. While the company's 10-year median is 17.78 vs. the industry median of 1.39, Chongqing Brewery Co 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 Beverages - Alcoholic company?
The median Cyclically Adjusted PB Ratio among Beverages - Alcoholic companies is 1.39, based on 156 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. Chongqing Brewery Co's current Cyclically Adjusted PB Ratio of 12.32 is 789.5% 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 Chongqing Brewery Co and its competitors. For the Beverages - Alcoholic industry, the median Cyclically Adjusted PB Ratio is 1.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Chongqing Brewery Co's current Cyclically Adjusted PB Ratio is 12.32, which is 31% below median its own 10-year median of 17.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Chongqing Brewery Co stock overvalued right now?
Based on GuruFocus' analysis, Chongqing Brewery Co (SHSE:600132) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥56.20, compared to a current price of ¥40.28 — trading 28.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 12.32, which is 31% below median its 10-year median of 17.78 and 789.5% above the Beverages - Alcoholic industry median of 1.39. Chongqing Brewery Co's overall GF Score™ is 88/100 with 2 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 Chongqing Brewery Co (SHSE:600132), the current Cyclically Adjusted PB Ratio is 12.32 as of Aug. 30, 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 Chongqing Brewery Co (SHSE:600132) Overvalued in 2026?
Based on GuruFocus' analysis, Chongqing Brewery Co stock appears to be undervalued.
The current stock price of ¥40.28 is trading 28.3% below its estimated GF Value™ of ¥56.20.
GuruFocus considers Chongqing Brewery Co to be Modestly Undervalued.
Key valuation signals for SHSE:600132:
Cyclically Adjusted PB Ratio: 12.32 (31% below median its 10-year median of 17.78)
GF Value™: ¥56.20 vs. price of ¥40.28 (28.3% below fair value)
Industry Position: 789.5% above the Beverages - Alcoholic median (#151 of 156)
No single metric tells the full story. See the SHSE:600132 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Established in 1958 in Chongqing city, Chongqing Brewery is one of the major beer brewers in China with a strong presence in the west. The company distributes a beer portfolio consisting of international brands, such as Carlsberg, Tuborg, 1664, and domestic brands such as Chongqing. In 2013, the company became a subsidiary of Carlsberg Group after the latter acquired a 60% stake in the company. It became the sole operating platform of Carlsberg Group's China business in 2020, after the group injected all its China beer assets into Chongqing Brewery.
88GF Score
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