UGI (STU:3U6) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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.
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.

STU:3U6 UGI Corp STU:3U6
71 GF Score
Price €32.38
GF Value €28.29
Valuation Modestly Overvalued
! 8 Warning Signs
View Full Analysis

What is UGI Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


UGI  (STU:3U6) 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.


UGI Cyclically Adjusted PB Ratio Related Terms


UGI Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for UGI'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.

UGI Cyclically Adjusted PB Ratio Chart

UGI Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.87 1.48 0.95 0.96 1.20

UGI 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 1.27 1.16 1.34 1.30 1.24

STU:3U6 vs SWX, BKH, NJR: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Gas subindustry, UGI'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.


UGI Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

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

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


STU:3U6
71GF Score
UGI Corp STU:3U6
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

UGI 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.

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

For example, UGI'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)
=21.259/333.9520*333.9520
=21.259

Current CPI (Jun. 2026) = 333.9520.

UGI Quarterly Data

Book Value per Share CPI Adj_Book
201609 18.530 241.428 25.631
201612 20.467 241.432 28.310
201703 21.264 243.801 29.127
201706 19.425 244.955 26.482
201709 18.276 246.819 24.728
201712 19.212 246.524 26.025
201803 20.765 249.554 27.788
201806 20.827 251.989 27.601
201809 20.316 252.439 26.876
201812 20.362 251.233 27.066
201903 22.067 254.202 28.990
201906 21.022 256.143 27.408
201909 16.796 256.759 21.846
201912 17.107 256.974 22.231
202003 17.896 258.115 23.154
202006 17.674 257.797 22.895
202009 16.932 260.280 21.725
202012 17.423 260.474 22.338
202103 19.683 264.877 24.816
202106 19.732 271.696 24.253
202109 21.933 274.310 26.702
202112 21.564 278.802 25.830
202203 25.889 287.504 30.072
202206 26.693 296.311 30.084
202209 28.794 296.808 32.397
202212 22.441 296.797 25.250
202303 22.192 301.836 24.553
202306 18.366 305.109 20.102
202309 19.057 307.789 20.677
202312 18.306 306.746 19.930
202403 20.462 312.332 21.878
202406 20.248 314.175 21.523
202409 18.172 315.301 19.247
202412 20.492 315.605 21.683
202503 21.485 319.799 22.436
202506 19.180 322.561 19.857
202509 18.991 324.800 19.526
202512 19.883 324.054 20.490
202603 21.942 330.213 22.190
202606 21.259 333.952 21.259

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 UGI (STU:3U6) Overvalued in 2026?

Based on GuruFocus' analysis, UGI stock appears to be overvalued. The current stock price of €32.38 is trading 14.5% above its estimated GF Value™ of €28.29. GuruFocus considers UGI to be Modestly Overvalued.

Key valuation signals for STU:3U6:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €28.29 vs. price of €32.38 (14.5% above fair value)
  • GF Score™: 71/100 with 8 warning signs

No single metric tells the full story. See the STU:3U6 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


UGI Business Description

Other Exchanges UGI:USA
Address 500 North Gulph Road, King of Prussia, PA, USA, 19406
UGI Corp is an American holding company that, through its subsidiaries, is involved in the transport and marketing of energy and related services. Its segments include AmeriGas Propane, UGI International, Midstream & Marketing, and Utilities. The AmeriGas Propane segment consists of the propane distribution business. The UGI International segment consists of LPG distribution businesses. The Midstream & Marketing segment consists of energy-related businesses. The Utilities segment consists of the regulated natural gas and electric distribution. The company derives a majority of its revenue from the UGI International segment.
71GF Score

Get the complete analysis for STU:3U6

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

€32.38
Price
€28.29
GF Value