Ameresco (STU:4AM) Cyclically Adjusted PB Ratio: (As of Aug. 08, 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.

STU:4AM Ameresco Inc STU:4AM
89 GF Score
Price €22.30
GF Value €29.07
Valuation Modestly Undervalued
! 8 Warning Signs
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What is Ameresco Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ameresco  (STU:4AM) 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.


Ameresco Cyclically Adjusted PB Ratio Related Terms


Ameresco Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ameresco'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.

Ameresco Cyclically Adjusted PB Ratio Chart

Ameresco 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 9.63 5.84 2.88 1.90 2.12

Ameresco 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 1.15 2.48 2.12 1.78 1.85

STU:4AM vs WLDN, CDNL, ITG: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Ameresco'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.


Ameresco Cyclically Adjusted PB Ratio vs Construction Industry

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

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


STU:4AM
89GF Score
Ameresco Inc STU:4AM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ameresco 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.

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

For example, Ameresco'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)
=19.94/333.9520*333.9520
=19.940

Current CPI (Jun. 2026) = 333.9520.

Ameresco Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.653 241.428 7.819
201612 6.104 241.432 8.443
201703 6.107 243.801 8.365
201706 5.927 244.955 8.080
201709 5.752 246.819 7.783
201712 6.247 246.524 8.462
201803 6.069 249.554 8.122
201806 6.564 251.989 8.699
201809 6.789 252.439 8.981
201812 7.159 251.233 9.516
201903 7.291 254.202 9.578
201906 7.443 256.143 9.704
201909 7.761 256.759 10.094
201912 8.172 256.974 10.620
202003 8.232 258.115 10.651
202006 8.182 257.797 10.599
202009 8.213 260.280 10.538
202012 8.400 260.474 10.770
202103 10.304 264.877 12.991
202106 10.428 271.696 12.817
202109 11.026 274.310 13.423
202112 12.052 278.802 14.436
202203 12.792 287.504 14.859
202206 13.987 296.311 15.764
202209 15.519 296.808 17.461
202212 14.974 296.797 16.849
202303 14.880 301.836 16.463
202306 14.915 305.109 16.325
202309 15.579 307.789 16.903
202312 15.822 306.746 17.225
202403 15.913 312.332 17.015
202406 16.216 314.175 17.237
202409 16.104 315.301 17.057
202412 18.431 315.605 19.502
202503 17.794 319.799 18.581
202506 17.019 322.561 17.620
202509 17.050 324.800 17.530
202512 17.450 324.054 17.983
202603 17.395 330.213 17.592
202606 19.940 333.952 19.940

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 Ameresco (STU:4AM) Overvalued in 2026?

Based on GuruFocus' analysis, Ameresco stock appears to be undervalued. The current stock price of €22.30 is trading 23.3% below its estimated GF Value™ of €29.07. GuruFocus considers Ameresco to be Modestly Undervalued.

Key valuation signals for STU:4AM:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €29.07 vs. price of €22.30 (23.3% below fair value)
  • GF Score™: 89/100 with 8 warning signs

No single metric tells the full story. See the STU:4AM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ameresco Business Description

Other Exchanges AMRC:USA0A70:UK
Address 111 Speen Street, Suite 410, Framingham, MA, USA, 01701
Ameresco Inc is an energy infrastructure solutions provider dedicated to helping customers reduce costs, enhance resilience, and decarbonize to net zero in the energy transition. Its comprehensive portfolio includes implementing smart energy efficiency solutions, upgrading aging infrastructure, and developing, constructing, and operating distributed energy resources. Its solutions range from upgrades to facility's energy infrastructure to the development, construction and operation of renewable energy plants combined with tailored financial solutions. Its segments include North America Regions, U.S. Federal, Renewable Fuels, Europe, and Others. The majority of the revenue is derived from North America Regions segment.
89GF Score

Get the complete analysis for STU:4AM

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

€22.30
Price
€29.07
GF Value