Engie (XTER:GZF) 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.

XTER:GZF Engie SA XTER:GZF
78 GF Score
Price €24.00
GF Value €16.20
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Engie Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Engie  (XTER:GZF) 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.


Engie Cyclically Adjusted PB Ratio Related Terms


Engie Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Engie'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.

Engie Cyclically Adjusted PB Ratio Chart

Engie 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 0.67 0.72 0.88 0.88 1.34

Engie Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 0.72 0.86 1.15 1.33 1.63

XTER:GZF vs SRE, AES: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Diversified subindustry, Engie'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.


Engie Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

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

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


XTER:GZF
78GF Score
Engie SA XTER:GZF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Engie 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.

Engie's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Engie's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=14.984/120.8900*120.8900
=14.984

Current CPI (Dec25) = 120.8900.

Engie Annual Data

Book Value per Share CPI Adj_Book
201612 17.589 100.650 21.126
201712 16.326 101.850 19.378
201812 15.423 103.470 18.020
201912 14.140 104.980 16.283
202012 12.389 104.960 14.269
202112 15.789 107.850 17.698
202212 14.826 114.160 15.700
202312 13.352 118.390 13.634
202412 15.426 119.950 15.547
202512 14.984 120.890 14.984

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 Engie (XTER:GZF) Overvalued in 2026?

Based on GuruFocus' analysis, Engie stock appears to be overvalued. The current stock price of €24.00 is trading 48.1% above its estimated GF Value™ of €16.20. GuruFocus considers Engie to be Significantly Overvalued.

Key valuation signals for XTER:GZF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €16.20 vs. price of €24.00 (48.1% above fair value)
  • GF Score™: 78/100 with 7 warning signs

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


Engie Business Description

Address 1, Place Samuel de Champlain, Courbevoie, FRA, 92400
Engie is a global energy firm formed by the 2008 merger of Gaz de France and Suez and the acquisition of International Power in 2012. It changed its name to Engie from GDF Suez in 2015. The company operates Europe's largest gas pipeline network in France and a global fleet of conventional and renewable power plants with 73 GW of capacity on a consolidated basis. Engie also operates a diverse suite of other energy businesses.
78GF Score

Get the complete analysis for XTER:GZF

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

€24.00
Price
€16.20
GF Value