Federal Home Loan Mortgage (STU:FHL) Cyclically Adjusted PB Ratio: (As of Aug. 09, 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:FHL Federal Home Loan Mortgage Corp STU:FHL
63 GF Score
Price €4.67
GF Value €4.36
Valuation Fairly Valued
! 2 Warning Signs
View Full Analysis

What is Federal Home Loan Mortgage Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Federal Home Loan Mortgage  (STU:FHL) 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.


Federal Home Loan Mortgage Cyclically Adjusted PB Ratio Related Terms


Federal Home Loan Mortgage Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Federal Home Loan Mortgage'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.

Federal Home Loan Mortgage Cyclically Adjusted PB Ratio Chart

Federal Home Loan Mortgage 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 0.00 0.00 0.00 0.00 0.00

Federal Home Loan Mortgage 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 0.00 0.00 0.00 0.00 0.00

STU:FHL vs PFSI, WD, VEL: Cyclically Adjusted PB Ratio Comparison

For the Mortgage Finance subindustry, Federal Home Loan Mortgage'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.


Federal Home Loan Mortgage Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Federal Home Loan Mortgage's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Federal Home Loan Mortgage's Cyclically Adjusted PB Ratio falls into.


STU:FHL
63GF Score
Federal Home Loan Mortgage Corp STU:FHL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Federal Home Loan Mortgage 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.

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

For example, Federal Home Loan Mortgage'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)
=-12.001/333.9520*333.9520
=-12.001

Current CPI (Jun. 2026) = 333.9520.

Federal Home Loan Mortgage Quarterly Data

Book Value per Share CPI Adj_Book
201609 -113.677 241.428 -157.242
201612 -118.666 241.432 -164.140
201703 -120.261 243.801 -164.730
201706 -114.813 244.955 -156.527
201709 -104.795 246.819 -141.790
201712 -112.775 246.524 -152.770
201803 -105.555 249.554 -141.253
201806 -108.204 251.989 -143.399
201809 -107.047 252.439 -141.613
201812 -111.258 251.233 -147.890
201903 -111.761 254.202 -146.823
201906 -111.542 256.143 -145.425
201909 -111.860 256.759 -145.490
201912 -107.485 256.974 -139.683
202003 -107.550 258.115 -139.149
202006 -102.883 257.797 -133.275
202009 -95.166 260.280 -122.103
202012 -88.950 260.474 -114.042
202103 -87.825 264.877 -110.728
202106 -82.169 271.696 -100.997
202109 -80.345 274.310 -97.814
202112 -79.948 278.802 -95.763
202203 -76.888 287.504 -89.310
202206 -76.632 296.311 -86.367
202209 -80.058 296.808 -90.077
202212 -72.230 296.797 -81.272
202303 -68.521 301.836 -75.812
202306 -63.610 305.109 -69.623
202309 -60.677 307.789 -65.835
202312 -55.064 306.746 -59.948
202403 -51.365 312.332 -54.921
202406 -47.923 314.175 -50.940
202409 -42.089 315.301 -44.579
202412 -39.933 315.605 -42.254
202503 -34.654 319.799 -36.188
202506 -29.270 322.561 -30.304
202509 -25.108 324.800 -25.815
202512 -21.510 324.054 -22.167
202603 -17.079 330.213 -17.272
202606 -12.001 333.952 -12.001

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 Federal Home Loan Mortgage (STU:FHL) Overvalued in 2026?

Based on GuruFocus' analysis, Federal Home Loan Mortgage stock appears to be overvalued. The current stock price of €4.67 is trading 7.1% above its estimated GF Value™ of €4.36. GuruFocus considers Federal Home Loan Mortgage to be Fairly Valued.

Key valuation signals for STU:FHL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €4.36 vs. price of €4.67 (7.1% above fair value)
  • GF Score™: 63/100 with 2 warning signs

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


Federal Home Loan Mortgage Business Description

Address 8200 Jones Branch Drive, McLean, VA, USA, 22102-3110
Federal Home Loan Mortgage Corp is a U.S. based government-sponsored enterprise. The company invests in mortgage loans and mortgage-related securities. Its two reportable segments are: i) Single-Family: It provides liquidity and support to the single-family mortgage market through a variety of activities that include the purchase, securitization, and guarantee of single-family loans originated by lenders, and ii) Multifamily: It provides liquidity and support to the multifamily mortgage market through a variety of activities that include the purchase, securitization, and guarantee of multifamily loans. The majority of the company's revenue is derived from the Single-Family segment.
63GF Score

Get the complete analysis for STU:FHL

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

€4.67
Price
€4.36
GF Value