ARC Resources (TSX:ARX) Cyclically Adjusted PB Ratio: (As of Jul. 31, 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.

TSX:ARX ARC Resources Ltd TSX:ARX
63 GF Score
Price C$32.98
GF Value C$29.58
Valuation Modestly Overvalued
! 8 Warning Signs
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What is ARC Resources Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


ARC Resources  (TSX:ARX) 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.


ARC Resources Cyclically Adjusted PB Ratio Related Terms


ARC Resources Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for ARC Resources'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.

ARC Resources Cyclically Adjusted PB Ratio Chart

ARC Resources 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 1.04 1.61 1.71 2.24 2.16

ARC Resources 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 2.43 2.14 2.16 2.38 0.00

TSX:ARX vs COP, EOG, FANG: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas E&P subindustry, ARC Resources'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.


ARC Resources Cyclically Adjusted PB Ratio vs Oil & Gas Industry

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

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


TSX:ARX
63GF Score
ARC Resources Ltd TSX:ARX
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ARC Resources 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.

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

For example, ARC Resources'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)
=15.621/134.0005*134.0005
=15.621

Current CPI (Jun. 2026) = 134.0005.

ARC Resources Quarterly Data

Book Value per Share CPI Adj_Book
201609 9.499 101.765 12.508
201612 9.864 101.449 13.029
201703 10.123 102.634 13.217
201706 10.327 103.029 13.431
201709 10.316 103.345 13.376
201712 10.380 103.345 13.459
201803 10.387 105.004 13.255
201806 10.110 105.557 12.834
201809 10.096 105.636 12.807
201812 10.400 105.399 13.222
201903 10.097 106.979 12.647
201906 10.218 107.690 12.714
201909 9.909 107.611 12.339
201912 9.733 107.769 12.102
202003 8.037 107.927 9.979
202006 7.857 108.401 9.712
202009 7.613 108.164 9.431
202012 7.897 108.559 9.748
202103 8.343 110.298 10.136
202106 7.882 111.720 9.454
202109 7.759 112.905 9.209
202112 8.547 113.774 10.066
202203 8.254 117.646 9.401
202206 8.937 120.806 9.913
202209 9.756 120.648 10.836
202212 10.716 120.964 11.871
202303 11.445 122.702 12.499
202306 11.709 124.203 12.633
202309 11.817 125.230 12.645
202312 12.445 125.072 13.333
202403 12.566 126.258 13.337
202406 12.784 127.522 13.433
202409 13.062 127.285 13.751
202412 13.480 127.364 14.182
202503 13.842 129.181 14.358
202506 14.242 129.892 14.692
202509 14.251 130.287 14.657
202512 14.483 130.366 14.887
202603 15.227 132.262 15.427
202606 15.621 134.001 15.621

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 ARC Resources (TSX:ARX) Overvalued in 2026?

Based on GuruFocus' analysis, ARC Resources stock appears to be overvalued. The current stock price of C$32.98 is trading 11.5% above its estimated GF Value™ of C$29.58. GuruFocus considers ARC Resources to be Modestly Overvalued.

Key valuation signals for TSX:ARX:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: C$29.58 vs. price of C$32.98 (11.5% above fair value)
  • GF Score™: 63/100 with 8 warning signs

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


ARC Resources Business Description

Industry EnergyOil & Gas
Address 308 - 4th Avenue SW, Suite 1500, Calgary, AB, CAN, T2P 0H7
Arc Resources is a natural gas and condensate-focused producer in the Western Canada Sedimentary Basin. Its most valuable product by revenue, condensate, is a necessary feedstock for the oil industry. Natural gas is the largest product by volume, and the firm actively markets it through pipeline and liquefied natural gas agreements, seeking to limit in-basin pricing. It also operates its own processing assets. In 2024, production was 348 thousand barrels of oil equivalent per day.
63GF Score

Get the complete analysis for TSX:ARX

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

C$32.98
Price
C$29.58
GF Value