SU (Suncor Energy) Cyclically Adjusted PB Ratio: 2.70 (As of Jul. 29, 2026) — 78% Above Median

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.

SU Suncor Energy Inc SU
62 GF Score
Price $65.80
GF Value $42.55
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Suncor Energy Cyclically Adjusted PB Ratio?

Suncor Energy SU +2.97% 62 Cyclically Adjusted PB Ratio is 2.70 as of Jul. 29, 2026, which is 78% above its 10-year median of 1.52. GuruFocus rates SU with a GF Score™ of 62/100 and a GF Value™ of $42.55 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 765 Oil & Gas companies, Suncor Energy ranks worse than 79.74% on this metric.

As of today (2026-07-29), Suncor Energy's current share price is $65.80. Suncor Energy's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $24.36. Suncor Energy's Cyclically Adjusted PB Ratio for today is 2.70.

The historical rank and industry rank for Suncor Energy's Cyclically Adjusted PB Ratio or its related term are showing as below:

SU' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.52   Med: 1.52   Max: 2.77
Current: 2.66

During the past years, Suncor Energy's highest Cyclically Adjusted PB Ratio was 2.77. The lowest was 0.52. And the median was 1.52.

SU's Cyclically Adjusted PB Ratio is ranked worse than
79.74% of 765 companies
in the Oil & Gas industry
Industry Median: 1.2 vs SU: 2.66

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Suncor Energy's adjusted book value per share data for the three months ended in Mar. 2026 was $28.175. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $24.36 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Suncor Energy  (NYSE:SU) 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.


Suncor Energy Cyclically Adjusted PB Ratio Related Terms


Suncor Energy Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Suncor Energy'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.

Suncor Energy Cyclically Adjusted PB Ratio Chart

Suncor Energy 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 1.06 1.37 1.32 1.58 1.83

Suncor Energy Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.69 1.54 1.75 1.83 2.71

SU vs XOM, CVX: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas Integrated subindustry, Suncor Energy'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.


Suncor Energy Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Suncor Energy's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


SU
62GF Score
Suncor Energy Inc SU
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Suncor Energy 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.

Suncor Energy's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=65.80/24.36
=2.70

* 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.

Suncor Energy's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Suncor Energy's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=28.175/132.2623*132.2623
=28.175

Current CPI (Mar. 2026) = 132.2623.

Suncor Energy Quarterly Data

Book Value per Share CPI Adj_Book
201606 20.713 102.002 26.858
201609 20.150 101.765 26.189
201612 20.060 101.449 26.153
201703 20.368 102.634 26.248
201706 20.347 103.029 26.120
201709 22.310 103.345 28.553
201712 21.659 103.345 27.720
201803 21.524 105.004 27.111
201806 21.365 105.557 26.770
201809 21.899 105.636 27.419
201812 20.670 105.399 25.938
201903 21.071 106.979 26.051
201906 21.986 107.690 27.003
201909 22.201 107.611 27.287
201912 20.840 107.769 25.576
202003 17.831 107.927 21.851
202006 17.667 108.401 21.556
202009 18.012 108.164 22.025
202012 18.303 108.559 22.299
202103 19.184 110.298 23.004
202106 19.960 111.720 23.630
202109 19.662 112.905 23.033
202112 19.847 113.774 23.072
202203 21.390 117.646 24.048
202206 22.503 120.806 24.637
202209 21.210 120.648 23.252
202212 21.666 120.964 23.690
202303 22.086 122.702 23.807
202306 23.595 124.203 25.126
202309 23.786 125.230 25.122
202312 25.005 125.072 26.442
202403 25.434 126.258 26.644
202406 25.451 127.522 26.397
202409 26.381 127.285 27.413
202412 25.109 127.364 26.075
202503 25.337 129.181 25.941
202506 26.781 129.892 27.270
202509 27.072 130.287 27.482
202512 27.407 130.366 27.806
202603 28.175 132.262 28.175

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.

What does a Cyclically Adjusted PB Ratio of 2.70 mean?
Suncor Energy (SU) has a Cyclically Adjusted PB Ratio of 2.70 as of Jul. 29, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Suncor Energy and its competitors. This is 78% above median its historical median of 1.52. Over the past decade, Suncor Energy's Cyclically Adjusted PB Ratio has ranged from 0.52 to 2.77. According to the industry distribution chart, Suncor Energy ranks #610 out of 765 companies in the Oil & Gas industry, placing it in the top 79.7%.
Is Suncor Energy's Cyclically Adjusted PB Ratio too high?
Suncor Energy's current Cyclically Adjusted PB Ratio of 2.70 is 78% above median its 10-year median of 1.52. Over the past 10 years, this metric has ranged from a low of 0.52 to a high of 2.77. The Oil & Gas industry median Cyclically Adjusted PB Ratio is 1.20. Suncor Energy's value of 2.70 is 125% above this industry median. Based on the distribution chart, Suncor Energy ranks #610 out of 765 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Suncor Energy has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Suncor Energy's Cyclically Adjusted PB Ratio compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Suncor Energy ranks #610 out of 765 companies for Cyclically Adjusted PB Ratio. This places Suncor Energy in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.20. Suncor Energy's value of 2.70 is 125% above this benchmark. Historically, Suncor Energy's own Cyclically Adjusted PB Ratio has ranged from 0.52 to 2.77 over the past decade. While the company's 10-year median is 1.52 vs. the industry median of 1.20, Suncor Energy has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for an Oil & Gas company?
The median Cyclically Adjusted PB Ratio among Oil & Gas companies is 1.20, based on 765 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Suncor Energy's current Cyclically Adjusted PB Ratio of 2.70 is 125% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Suncor Energy and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PB Ratio is 1.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Suncor Energy's current Cyclically Adjusted PB Ratio is 2.70, which is 78% above median its own 10-year median of 1.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Suncor Energy stock overvalued right now?
Based on GuruFocus' analysis, Suncor Energy (SU) is currently considered Significantly Overvalued. The stock's GF Value™ is $42.55, compared to a current price of $65.80 — trading 54.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.70, which is 78% above median its 10-year median of 1.52 and 125% above the Oil & Gas industry median of 1.20. Suncor Energy's overall GF Score™ is 62/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Suncor Energy (SU), the current Cyclically Adjusted PB Ratio is 2.70 as of Jul. 29, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Suncor Energy (SU) Overvalued in 2026?

Based on GuruFocus' analysis, Suncor Energy stock appears to be overvalued. The current stock price of $65.80 is trading 54.6% above its estimated GF Value™ of $42.55. GuruFocus considers Suncor Energy to be Significantly Overvalued.

Key valuation signals for SU:

  • Cyclically Adjusted PB Ratio: 2.70 (78% above median its 10-year median of 1.52)
  • GF Value™: $42.55 vs. price of $65.80 (54.6% above fair value)
  • GF Score™: 62/100 with 6 warning signs
  • Industry Position: 125% above the Oil & Gas median (#610 of 765)

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


Suncor Energy Business Description

Industry EnergyOil & Gas
Address 150 - 6th Avenue S.W., P.O. Box 2844, Calgary, AB, CAN, T2P 3E3
Suncor Energy Inc is an integrated energy company. The company's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide PetroCanada retail and wholesale networks delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products, & power. The company's operating segments include Oil Sands, Exploration & Production, Refining & Marketing (R&M), & Corporate & eliminations. Geographically, the company generates a majority of its revenue from Canada.
62GF Score

Get the complete analysis for SU

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

$65.80
Price
$42.55
GF Value