Euronext NV (XAMS:ENX) Cyclically Adjusted PB Ratio: (As of Aug. 05, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

What is Euronext NV Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Euronext NV  (XAMS:ENX) 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.


Euronext NV Cyclically Adjusted PB Ratio Related Terms


Euronext NV Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Euronext NV'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.

Euronext NV Cyclically Adjusted PB Ratio Chart

Euronext NV 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 6.13 4.70 4.38 5.19 5.09

Euronext NV 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 6.29 5.24 5.09 5.23 5.07

XAMS:ENX vs SPGI, CME, ICE: Cyclically Adjusted PB Ratio Comparison

For the Financial Data & Stock Exchanges subindustry, Euronext NV'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.


Euronext NV Cyclically Adjusted PB Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Euronext NV's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Euronext NV 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.

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

For example, Euronext NV'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)
=46.251/137.7700*137.7700
=46.251

Current CPI (Jun. 2026) = 137.7700.

Euronext NV Quarterly Data

Book Value per Share CPI Adj_Book
201609 6.313 100.570 8.648
201612 7.195 100.710 9.843
201703 7.686 101.440 10.439
201706 7.557 101.370 10.271
201709 8.041 102.030 10.858
201712 9.384 101.970 12.679
201803 10.108 102.470 13.590
201806 9.275 103.100 12.394
201809 9.382 103.950 12.434
201812 10.374 103.970 13.747
201903 11.173 105.370 14.609
201906 10.642 105.840 13.852
201909 11.327 106.700 14.625
201912 12.014 106.800 15.498
202003 11.812 106.850 15.230
202006 11.863 107.510 15.202
202009 12.661 107.880 16.169
202012 13.873 107.850 17.722
202103 13.747 108.870 17.396
202106 32.235 109.670 40.494
202109 33.419 110.790 41.557
202112 34.223 114.010 41.355
202203 35.701 119.460 41.173
202206 34.693 119.050 40.148
202209 35.502 126.890 38.546
202212 36.672 124.940 40.438
202303 37.131 124.720 41.016
202306 35.807 125.830 39.205
202309 37.173 127.160 40.275
202312 38.062 126.450 41.469
202403 0.000 128.580 0.000
202406 38.300 129.910 40.617
202409 0.000 131.610 0.000
202412 41.312 131.630 43.239
202503 41.111 133.330 42.480
202506 40.420 133.960 41.570
202509 41.469 135.920 42.033
202512 44.615 135.270 45.440
202603 47.411 136.910 47.709
202606 46.251 137.770 46.251

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.


Euronext NV Business Description

Address Beursplein 5, Amsterdam, NLD, 1012 JW
Euronext is a financial exchange group with trading venues in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris, covering primarily cash equities, fixed income, and index and single stock derivatives. With the acquisition of Borsa Italiana, Euronext has also taken control of CC&G, the Italian multi-asset clearing house, as well as Monte Titoli, the Italian central securities depository. This complements Euronext's other CSDs in Norway, Denmark and Portugal. Euronext is the owner of the CAC40, AEX, BEL 20, ISEQ 20, OBX, and PSI 20 indexes.