VWAGY (Volkswagen AG) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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.

VWAGY Volkswagen AG VWAGY
74 GF Score
Price $8.60
GF Value $11.21
Valuation Modestly Undervalued
! 9 Warning Signs
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What is Volkswagen AG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Volkswagen AG  (OTCPK:VWAGY) 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.


Volkswagen AG Cyclically Adjusted PB Ratio Related Terms


Volkswagen AG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Volkswagen AG'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.

Volkswagen AG Cyclically Adjusted PB Ratio Chart

Volkswagen AG 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 0.57 0.29 0.25 0.17 0.21

Volkswagen AG 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 0.20 0.20 0.22 0.18 0.14

VWAGY vs TSLA, GM, F: Cyclically Adjusted PB Ratio Comparison

For the Auto Manufacturers subindustry, Volkswagen AG'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.


Volkswagen AG Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Volkswagen AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


VWAGY
74GF Score
Volkswagen AG VWAGY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Volkswagen AG 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.

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

For example, Volkswagen AG'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)
=73.645/131.3638*131.3638
=73.645

Current CPI (Jun. 2026) = 131.3638.

Volkswagen AG Quarterly Data

Book Value per Share CPI Adj_Book
201609 31.739 101.017 41.274
201612 30.504 101.217 39.589
201703 32.467 101.417 42.054
201706 36.124 102.117 46.470
201709 37.988 102.717 48.582
201712 39.875 102.617 51.045
201803 41.548 102.917 53.032
201806 39.598 104.017 50.008
201809 40.131 104.718 50.343
201812 40.578 104.217 51.148
201903 39.946 104.217 50.351
201906 40.971 105.718 50.910
201909 39.526 106.018 48.976
201912 42.219 105.818 52.411
202003 42.133 105.718 52.354
202006 41.406 106.618 51.016
202009 42.439 105.818 52.685
202012 46.883 105.518 58.367
202103 47.838 107.518 58.448
202106 50.543 108.486 61.202
202109 50.002 109.435 60.022
202112 50.760 110.384 60.408
202203 54.049 113.968 62.299
202206 53.425 115.760 60.626
202209 57.596 118.818 63.678
202212 59.389 119.345 65.370
202303 61.903 122.402 66.435
202306 61.758 123.140 65.882
202309 62.462 124.195 66.068
202312 65.147 123.773 69.142
202403 65.639 125.038 68.960
202406 64.865 125.882 67.690
202409 67.271 126.198 70.025
202412 64.161 127.041 66.344
202503 68.555 127.779 70.478
202506 73.136 128.412 74.817
202509 73.069 129.255 74.261
202512 75.134 129.361 76.297
202603 74.580 131.258 74.640
202606 73.645 131.364 73.645

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 Volkswagen AG (VWAGY) Overvalued in 2026?

Based on GuruFocus' analysis, Volkswagen AG stock appears to be undervalued. The current stock price of $8.60 is trading 23.3% below its estimated GF Value™ of $11.21. GuruFocus considers Volkswagen AG to be Modestly Undervalued.

Key valuation signals for VWAGY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $11.21 vs. price of $8.60 (23.3% below fair value)
  • GF Score™: 74/100 with 9 warning signs

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


Volkswagen AG Business Description

Address Berliner Ring 2, Wolfsburg, NI, DEU, 38440
Volkswagen is the second-largest automotive original equipment manufacturer by vehicle sales globally, selling 9 million vehicles in 2025. Its four vehicle segments core (Volkswagen, SEAT, Skoda, and VW commercial), progressive (Audi, Lamborghini, and Bentley), sports luxury (Porsche), and Traton commercial vehicles (Traton, Scania, Navistar, MAN, and VW truck and bus) contribute 45%, 20%, 10%, and 13% to group revenue, respectively. It also has a vehicle software business (Cariad), batteries, power engineering production, and financial services.
74GF Score

Get the complete analysis for VWAGY

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

$8.60
Price
$11.21
GF Value