Constellation Brands (XTER:CB1A) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

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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.

XTER:CB1A Constellation Brands Inc XTER:CB1A
62 GF Score
Price €105.00
GF Value €166.46
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Constellation Brands Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Constellation Brands  (XTER:CB1A) 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.


Constellation Brands Cyclically Adjusted PB Ratio Related Terms


Constellation Brands Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Constellation Brands'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.

Constellation Brands Cyclically Adjusted PB Ratio Chart

Constellation Brands Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.38 4.68 4.32 4.20 2.36

Constellation Brands Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 4.20 4.17 2.11 2.38 2.23

XTER:CB1A vs TAP, SAM: Cyclically Adjusted PB Ratio Comparison

For the Beverages - Brewers subindustry, Constellation Brands'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.


Constellation Brands Cyclically Adjusted PB Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Constellation Brands's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XTER:CB1A
62GF Score
Constellation Brands Inc XTER:CB1A
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Constellation Brands 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.

Constellation Brands's Cyclically Adjusted Book per Share for the quarter that ended in May. 2026 is calculated as:

For example, Constellation Brands's adjusted Book Value per Share data for the three months ended in May. 2026 was:

Adj_Book=Book Value per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=42.729/335.1230*335.1230
=42.729

Current CPI (May. 2026) = 335.1230.

Constellation Brands Quarterly Data

Book Value per Share CPI Adj_Book
201608 32.397 240.849 45.078
201611 33.538 241.353 46.568
201702 33.700 243.603 46.361
201705 34.097 244.733 46.690
201708 34.582 245.519 47.203
201711 34.917 246.669 47.438
201802 34.674 248.991 46.669
201805 47.935 251.588 63.851
201808 52.987 252.146 70.424
201811 54.252 252.038 72.136
201902 59.665 252.776 79.102
201905 59.220 256.092 77.496
201908 56.145 256.558 73.338
201911 57.663 257.208 75.131
202002 59.616 258.678 77.234
202005 53.658 256.394 70.134
202008 52.426 259.918 67.595
202011 59.580 260.229 76.727
202102 59.886 263.014 76.305
202105 54.194 269.195 67.467
202108 52.457 273.567 64.260
202111 54.798 277.948 66.070
202202 57.253 283.716 67.627
202205 57.916 292.296 66.402
202208 53.017 296.171 59.990
202211 45.875 297.711 51.640
202302 44.955 300.840 50.078
202305 45.596 304.127 50.243
202308 48.878 307.026 53.351
202311 49.128 307.051 53.620
202402 50.854 310.326 54.918
202405 53.402 314.069 56.982
202408 40.598 314.796 43.219
202411 42.291 315.493 44.922
202502 38.500 319.082 40.435
202505 37.549 321.465 39.144
202508 38.009 323.976 39.317
202511 39.759 324.122 41.108
202602 41.114 326.785 42.163
202605 42.729 335.123 42.729

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 Constellation Brands (XTER:CB1A) Overvalued in 2026?

Based on GuruFocus' analysis, Constellation Brands stock appears to be undervalued. The current stock price of €105.00 is trading 36.9% below its estimated GF Value™ of €166.46. GuruFocus considers Constellation Brands to be Significantly Undervalued.

Key valuation signals for XTER:CB1A:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €166.46 vs. price of €105.00 (36.9% below fair value)
  • GF Score™: 62/100 with 2 warning signs

No single metric tells the full story. See the XTER:CB1A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Constellation Brands Business Description

Address 50 East Broad Street, Rochester, NY, USA, 14614
Constellation Brands is the largest provider of alcoholic beverages across the beer, wine, and spirits categories in the US, generating more than 90% of revenue from Mexican beer imports under top-selling brands such as Modelo and Corona. The rest of the business includes some remaining wine and spirits brands, categories where the company has pruned assets in recent years. With its exclusive rights tied to the Mexican beer brands effective only in the US, the firm has limited revenue exposure to international markets. Constellation owns a 10% stake in Canopy Growth, a medicinal and recreational cannabis producer in Canada, and has a 50/50 joint venture with glass manufacturer Owens-Illinois in Mexico.
62GF Score

Get the complete analysis for XTER:CB1A

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

€105.00
Price
€166.46
GF Value