Amadeus IT Group (STU:AI3A) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:AI3A Amadeus IT Group SA STU:AI3A
89 GF Score
Price €54.94
GF Value €78.69
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Amadeus IT Group Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Amadeus IT Group  (STU:AI3A) 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.


Amadeus IT Group Cyclically Adjusted PB Ratio Related Terms


Amadeus IT Group Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Amadeus IT Group'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.

Amadeus IT Group Cyclically Adjusted PB Ratio Chart

Amadeus IT Group 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 8.85 6.35 7.55 7.30 6.23

Amadeus IT Group 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 7.40 7.10 6.23 4.87 4.95

STU:AI3A vs IBM, ACN, CTSH: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Amadeus IT Group'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.


Amadeus IT Group Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Amadeus IT Group's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:AI3A
89GF Score
Amadeus IT Group SA STU:AI3A
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Amadeus IT Group 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.

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

For example, Amadeus IT Group'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)
=10.921/131.3300*131.3300
=10.921

Current CPI (Jun. 2026) = 131.3300.

Amadeus IT Group Quarterly Data

Book Value per Share CPI Adj_Book
201603 5.644 98.638 7.515
201606 5.740 100.333 7.513
201609 6.214 99.737 8.182
201612 6.315 101.842 8.143
201703 6.862 100.896 8.932
201709 7.204 101.524 9.319
201803 6.647 102.122 8.548
201806 6.777 104.165 8.544
201809 7.392 103.818 9.351
201812 7.412 104.193 9.342
201903 8.191 103.488 10.395
201906 8.158 104.612 10.242
201909 8.980 103.905 11.350
201912 8.809 105.015 11.016
202003 9.072 103.469 11.515
202006 9.649 104.254 12.155
202009 8.984 103.521 11.397
202012 8.340 104.456 10.486
202103 8.325 104.857 10.427
202106 8.123 107.102 9.961
202109 8.195 107.669 9.996
202112 8.324 111.298 9.822
202203 8.618 115.153 9.829
202206 9.438 118.044 10.500
202209 10.246 117.221 11.479
202212 10.189 117.650 11.374
202303 10.676 118.948 11.787
202306 10.536 120.278 11.504
202309 10.551 121.343 11.419
202312 10.174 121.300 11.015
202403 10.382 122.762 11.107
202406 10.414 124.409 10.993
202409 10.975 123.121 11.707
202412 11.597 124.753 12.208
202503 12.480 125.531 13.057
202506 11.965 127.251 12.349
202509 11.666 126.840 12.079
202512 11.261 128.400 11.518
202603 11.374 129.860 11.503
202606 10.921 131.330 10.921

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 Amadeus IT Group (STU:AI3A) Overvalued in 2026?

Based on GuruFocus' analysis, Amadeus IT Group stock appears to be undervalued. The current stock price of €54.94 is trading 30.2% below its estimated GF Value™ of €78.69. GuruFocus considers Amadeus IT Group to be Significantly Undervalued.

Key valuation signals for STU:AI3A:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €78.69 vs. price of €54.94 (30.2% below fair value)
  • GF Score™: 89/100 with 2 warning signs

No single metric tells the full story. See the STU:AI3A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Amadeus IT Group Business Description

Address Salvador de Madariaga, 1, Madrid, ESP, 28027
Founded in 1987 by four major European airline carriers (Air France, Lufthansa, Iberia, and SAS), Amadeus became the world's second global distribution system operator, or GDS, after Sabre's development in the 1960s and 1970s. Today, among the top three GDS operators that control nearly 100% of industry sales, Amadeus' 40%-50% market share ranks as the largest. Overall, Amadeus' GDS segment represented 48% of total in 2025. Moreover, the company has an expanding IT solutions division (52% of 2025 revenue) that addresses the airline, airport, rail, hotel, and travel agency markets. Transaction fees, which are tied to volume and not price, account for the bulk of consolidated sales and profits.
89GF Score

Get the complete analysis for STU:AI3A

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

€54.94
Price
€78.69
GF Value