E.ON SE (XPRA:EOAN) Cyclically Adjusted PB Ratio: 3.74 (As of Aug. 23, 2026) — 270% 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.

XPRA:EOAN E.ON SE XPRA:EOAN
87 GF Score
Price Kč425.35
GF Value Kč305.79
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is E.ON SE Cyclically Adjusted PB Ratio?

E.ON SE XPRA:EOAN +1.47% 87 Cyclically Adjusted PB Ratio is 3.74 as of Aug. 23, 2026, which is 270% above its 10-year median of 1.01. GuruFocus rates XPRA:EOAN with a GF Score™ of 87/100 and a GF Value™ of Kč305.79 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 426 Utilities - Regulated companies, E.ON SE ranks worse than 90.85% on this metric.

As of today (2026-08-23), E.ON SE's current share price is Kč425.35. E.ON SE's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was Kč113.73. E.ON SE's Cyclically Adjusted PB Ratio for today is 3.74.

The historical rank and industry rank for E.ON SE's Cyclically Adjusted PB Ratio or its related term are showing as below:

XPRA:EOAN' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.31   Med: 1.01   Max: 4.34
Current: 3.74

During the past years, E.ON SE's highest Cyclically Adjusted PB Ratio was 4.34. The lowest was 0.31. And the median was 1.01.

XPRA:EOAN's Cyclically Adjusted PB Ratio is ranked worse than
90.85% of 426 companies
in the Utilities - Regulated industry
Industry Median: 1.55 vs XPRA:EOAN: 3.74

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.

E.ON SE's adjusted book value per share data for the three months ended in Jun. 2026 was Kč196.594. 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 Kč113.73 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


E.ON SE  (XPRA:EOAN) 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.


E.ON SE Cyclically Adjusted PB Ratio Related Terms


E.ON SE Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for E.ON SE'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.

E.ON SE Cyclically Adjusted PB Ratio Chart

E.ON SE 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 1.39 1.19 1.89 2.15 3.51

E.ON SE 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 3.28 3.42 3.51 4.12 3.88

XPRA:EOAN vs SRE, AES: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Diversified subindustry, E.ON SE'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.


E.ON SE Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, E.ON SE's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XPRA:EOAN
87GF Score
E.ON SE XPRA:EOAN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

E.ON SE 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.

E.ON SE's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=425.35/113.73
=3.74

* 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.

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

For example, E.ON SE'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)
=196.594/131.3638*131.3638
=196.594

Current CPI (Jun. 2026) = 131.3638.

E.ON SE Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.999 101.017 7.801
201612 -14.621 101.217 -18.976
201703 13.585 101.417 17.596
201706 45.450 102.117 58.467
201709 43.512 102.717 55.647
201712 47.425 102.617 60.710
201803 52.445 102.917 66.941
201806 67.897 104.017 85.747
201809 69.236 104.718 86.854
201812 68.582 104.217 86.446
201903 65.797 104.217 82.936
201906 47.276 105.718 58.745
201909 78.231 106.018 96.934
201912 88.804 105.818 110.243
202003 65.149 105.718 80.954
202006 48.276 106.618 59.481
202009 44.506 105.818 55.251
202012 49.703 105.518 61.878
202103 81.320 107.518 99.356
202106 90.400 108.486 109.464
202109 104.648 109.435 125.618
202112 116.606 110.384 138.769
202203 137.068 113.968 157.990
202206 165.631 115.760 187.956
202209 179.600 118.818 198.564
202212 148.082 119.345 162.995
202303 143.895 122.402 154.430
202306 138.444 123.140 147.689
202309 147.377 124.195 155.884
202312 132.263 123.773 140.375
202403 144.546 125.038 151.859
202406 150.739 125.882 157.304
202409 152.913 126.198 159.173
202412 171.663 127.041 177.504
202503 179.110 127.779 184.135
202506 165.743 128.412 169.553
202509 166.731 129.255 169.451
202512 178.683 129.361 181.450
202603 204.387 131.258 204.551
202606 196.594 131.364 196.594

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 3.74 mean?
E.ON SE (XPRA:EOAN) has a Cyclically Adjusted PB Ratio of 3.74 as of Aug. 23, 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 E.ON SE and its competitors. This is 270% above median its historical median of 1.01. Over the past decade, E.ON SE's Cyclically Adjusted PB Ratio has ranged from 0.31 to 4.34. According to the industry distribution chart, E.ON SE ranks #387 out of 426 companies in the Utilities - Regulated industry, placing it in the top 90.8%.
Is E.ON SE's Cyclically Adjusted PB Ratio too high?
E.ON SE's current Cyclically Adjusted PB Ratio of 3.74 is 270% above median its 10-year median of 1.01. Over the past 10 years, this metric has ranged from a low of 0.31 to a high of 4.34. The Utilities - Regulated industry median Cyclically Adjusted PB Ratio is 1.55. E.ON SE's value of 3.74 is 141.3% above this industry median. Based on the distribution chart, E.ON SE ranks #387 out of 426 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, E.ON SE has a GF Score™ of 87/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does E.ON SE's Cyclically Adjusted PB Ratio compare to SRE and AES?
According to the Utilities - Regulated industry distribution chart, E.ON SE ranks #387 out of 426 companies for Cyclically Adjusted PB Ratio. This places E.ON SE in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.55. E.ON SE's value of 3.74 is 141.3% above this benchmark. Historically, E.ON SE's own Cyclically Adjusted PB Ratio has ranged from 0.31 to 4.34 over the past decade. While the company's 10-year median is 1.01 vs. the industry median of 1.55, E.ON SE 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 Utilities - Regulated company?
The median Cyclically Adjusted PB Ratio among Utilities - Regulated companies is 1.55, based on 426 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. E.ON SE's current Cyclically Adjusted PB Ratio of 3.74 is 141.3% 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 E.ON SE and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PB Ratio is 1.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. E.ON SE's current Cyclically Adjusted PB Ratio is 3.74, which is 270% above median its own 10-year median of 1.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is E.ON SE stock overvalued right now?
Based on GuruFocus' analysis, E.ON SE (XPRA:EOAN) is currently considered Significantly Overvalued. The stock's GF Value™ is Kč305.79, compared to a current price of Kč425.35 — trading 39.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.74, which is 270% above median its 10-year median of 1.01 and 141.3% above the Utilities - Regulated industry median of 1.55. E.ON SE's overall GF Score™ is 87/100 with 2 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 E.ON SE (XPRA:EOAN), the current Cyclically Adjusted PB Ratio is 3.74 as of Aug. 23, 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 E.ON SE (XPRA:EOAN) Overvalued in 2026?

Based on GuruFocus' analysis, E.ON SE stock appears to be overvalued. The current stock price of Kč425.35 is trading 39.1% above its estimated GF Value™ of Kč305.79. GuruFocus considers E.ON SE to be Significantly Overvalued.

Key valuation signals for XPRA:EOAN:

  • Cyclically Adjusted PB Ratio: 3.74 (270% above median its 10-year median of 1.01)
  • GF Value™: Kč305.79 vs. price of Kč425.35 (39.1% above fair value)
  • GF Score™: 87/100 with 2 warning signs
  • Industry Position: 141.3% above the Utilities - Regulated median (#387 of 426)

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


E.ON SE Business Description

Address Brusseler Platz 1, Essen, NW, DEU, 45131
Since completing the transformative deal with RWE in 2020, E.On has two core businesses: energy networks and customer solutions. Its retail supply serves around 47 million customers primarily in Germany, the United Kingdom, Eastern Europe, the Netherlands, Belgium, and Sweden. Its networks business operates in Germany, Sweden, Eastern Europe, and Turkey.
87GF Score

Get the complete analysis for XPRA:EOAN

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

Kč425.35
Price
Kč305.79
GF Value