ENCE Energia y Celulosa (STU:ENCA) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

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STU:ENCA ENCE Energia y Celulosa SA STU:ENCA
67 GF Score
Price €2.43
GF Value €2.61
Valuation Fairly Valued
! 5 Warning Signs
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What is ENCE Energia y Celulosa Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


ENCE Energia y Celulosa  (STU:ENCA) 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.


ENCE Energia y Celulosa Cyclically Adjusted PB Ratio Related Terms


ENCE Energia y Celulosa Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for ENCE Energia y Celulosa'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.

ENCE Energia y Celulosa Cyclically Adjusted PB Ratio Chart

ENCE Energia y Celulosa 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 0.77 0.90 0.95 0.97 0.75

ENCE Energia y Celulosa 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 0.91 0.88 0.75 0.72 0.71

ENCE Energia y Celulosa Cyclically Adjusted PB Ratio Competitor Comparison

For the Paper & Paper Products subindustry, ENCE Energia y Celulosa'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.


ENCE Energia y Celulosa Cyclically Adjusted PB Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, ENCE Energia y Celulosa's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where ENCE Energia y Celulosa's Cyclically Adjusted PB Ratio falls into.


STU:ENCA
67GF Score
ENCE Energia y Celulosa SA STU:ENCA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ENCE Energia y Celulosa 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.

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

For example, ENCE Energia y Celulosa'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)
=2.223/131.3300*131.3300
=2.223

Current CPI (Jun. 2026) = 131.3300.

ENCE Energia y Celulosa Quarterly Data

Book Value per Share CPI Adj_Book
201403 2.692 100.139 3.531
201409 2.112 100.441 2.762
201503 2.219 99.474 2.930
201509 2.212 99.559 2.918
201603 2.222 98.638 2.958
201703 2.332 100.896 3.035
201803 3.038 102.122 3.907
201806 2.690 104.165 3.392
201809 2.790 103.818 3.529
201812 2.805 104.193 3.536
201903 2.849 103.488 3.615
201906 2.896 104.612 3.636
201909 2.802 103.905 3.542
201912 2.733 105.015 3.418
202003 2.687 103.469 3.411
202006 2.620 104.254 3.300
202009 2.613 103.521 3.315
202012 3.457 104.456 4.346
202103 3.344 104.857 4.188
202106 2.461 107.102 3.018
202109 2.508 107.669 3.059
202112 2.545 111.298 3.003
202203 2.661 115.153 3.035
202206 2.703 118.044 3.007
202209 2.682 117.221 3.005
202212 3.361 117.650 3.752
202303 3.288 118.948 3.630
202306 2.790 120.278 3.046
202309 2.678 121.343 2.898
202312 2.680 121.300 2.902
202403 2.724 122.762 2.914
202406 2.770 124.409 2.924
202409 2.680 123.121 2.859
202412 2.566 124.753 2.701
202503 2.600 125.531 2.720
202506 2.564 127.251 2.646
202509 2.487 126.840 2.575
202512 2.339 128.400 2.392
202603 2.251 129.860 2.276
202606 2.223 131.330 2.223

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 ENCE Energia y Celulosa (STU:ENCA) Overvalued in 2026?

Based on GuruFocus' analysis, ENCE Energia y Celulosa stock appears to be undervalued. The current stock price of €2.43 is trading 6.7% below its estimated GF Value™ of €2.61. GuruFocus considers ENCE Energia y Celulosa to be Fairly Valued.

Key valuation signals for STU:ENCA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €2.61 vs. price of €2.43 (6.7% below fair value)
  • GF Score™: 67/100 with 5 warning signs

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


ENCE Energia y Celulosa Business Description

Address Estebanez Calderon 3-5, 2nd floor, Madrid, ESP, 28020
ENCE Energia y Celulosa SA produces and sells pulp. The company has two segments namely ENCE Pulp and ENCE Renewables. ENCE Pulp segment includes pulp production and sale activities. ENCE Renewables segment involves Biomass, Biomethane, and production of renewable industrial heat.
67GF Score

Get the complete analysis for STU:ENCA

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

€2.43
Price
€2.61
GF Value