Repsol (XMAD:REP) Cyclically Adjusted PB Ratio: (As of Jul. 23, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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.
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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.

XMAD:REP Repsol SA XMAD:REP
55 GF Score
Price €25.48
GF Value €14.14
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Repsol Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Repsol  (XMAD:REP) 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.


Repsol Cyclically Adjusted PB Ratio Related Terms


Repsol Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Repsol'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.

Repsol Cyclically Adjusted PB Ratio Chart

Repsol 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 0.50 0.69 0.62 0.53 0.72

Repsol 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 0.56 0.68 0.72 1.10 0.00

XMAD:REP vs XOM, CVX: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas Integrated subindustry, Repsol'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.


Repsol Cyclically Adjusted PB Ratio vs Oil & Gas Industry

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

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


XMAD:REP
55GF Score
Repsol SA XMAD:REP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Repsol 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.

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

For example, Repsol'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)
=24.635/130.5100*130.5100
=24.635

Current CPI (Jun. 2026) = 130.5100.

Repsol Quarterly Data

Book Value per Share CPI Adj_Book
201609 20.118 99.737 26.325
201612 21.062 101.842 26.991
201703 20.960 100.896 27.112
201706 19.631 101.848 25.155
201709 19.538 101.524 25.116
201712 19.545 102.975 24.771
201803 19.094 102.122 24.402
201806 19.563 104.165 24.511
201809 20.042 103.818 25.195
201812 20.052 104.193 25.117
201903 20.603 103.488 25.983
201906 20.174 104.612 25.168
201909 21.180 103.905 26.603
201912 16.433 105.015 20.423
202003 15.514 103.469 19.569
202006 14.803 104.254 18.531
202009 14.273 103.521 17.994
202012 13.287 104.456 16.601
202103 13.608 104.857 16.937
202106 13.891 107.102 16.927
202109 14.421 107.669 17.480
202112 15.318 111.298 17.962
202203 16.222 115.153 18.385
202206 17.463 118.044 19.307
202209 19.599 117.221 21.821
202212 19.059 117.650 21.142
202303 19.929 118.948 21.866
202306 20.004 120.278 21.706
202309 21.412 121.343 23.030
202312 21.529 121.300 23.164
202403 22.380 122.762 23.792
202406 22.178 124.409 23.266
202409 22.111 123.121 23.438
202412 22.890 124.753 23.946
202503 22.748 125.531 23.650
202506 20.965 127.251 21.502
202509 21.438 126.840 22.058
202512 22.749 128.400 23.123
202603 23.639 129.860 23.757
202606 24.635 130.510 24.635

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 Repsol (XMAD:REP) Overvalued in 2026?

Based on GuruFocus' analysis, Repsol stock appears to be overvalued. The current stock price of €25.48 is trading 80.2% above its estimated GF Value™ of €14.14. GuruFocus considers Repsol to be Significantly Overvalued.

Key valuation signals for XMAD:REP:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €14.14 vs. price of €25.48 (80.2% above fair value)
  • GF Score™: 55/100 with 6 warning signs

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


Repsol Business Description

Industry EnergyOil & Gas
Address Calle Mendez Alvaro, 44, Madrid, ESP, 28045
Repsol is a Spanish integrated oil and gas firm. In 2025, production was 548,000 barrels of oil equivalent a day (34% liquids), and proven reserves stood at 1.75 billion barrels of oil equivalent (36% oil). It also operates a downstream segment with refining capacity of 1.0 million barrels a day and holds 6 GW of installed renewable power generation capacity.
55GF Score

Get the complete analysis for XMAD:REP

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

€25.48
Price
€14.14
GF Value