Zhaojin Mining Industry Co (FRA:ZVL) Cyclically Adjusted Book per Share: €0.54 (As of Dec. 2025)

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.

FRA:ZVL Zhaojin Mining Industry Co Ltd FRA:ZVL
90 GF Score
Price €2.26
GF Value €3.18
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Zhaojin Mining Industry Co Cyclically Adjusted Book per Share?

Zhaojin Mining Industry Co FRA:ZVL -0.88% 90 Cyclically Adjusted Book per Share is €0.54 as of Dec. 2025. GuruFocus rates FRA:ZVL with a GF Score™ of 90/100 and a GF Value™ of €3.18 (Modestly Undervalued). The stock has 4 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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.

Zhaojin Mining Industry Co's adjusted book value per share for the three months ended in Dec. 2025 was €0.845. 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 €0.54 for the trailing ten years ended in Dec. 2025.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

As of today (2026-07-25), Zhaojin Mining Industry Co's current stock price is €2.26. Zhaojin Mining Industry Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was €0.54. Zhaojin Mining Industry Co's Cyclically Adjusted PB Ratio of today is 4.19.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Zhaojin Mining Industry Co was 7.86. The lowest was 3.39. And the median was 6.22.


Zhaojin Mining Industry Co  (FRA:ZVL) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

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.

Zhaojin Mining Industry Co's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=2.26/0.54
=4.19

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Zhaojin Mining Industry Co was 7.86. The lowest was 3.39. And the median was 6.22.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


Zhaojin Mining Industry Co Cyclically Adjusted Book per Share Related Terms


Zhaojin Mining Industry Co Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Zhaojin Mining Industry Co's Cyclically Adjusted Book per Share 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.

Zhaojin Mining Industry Co Cyclically Adjusted Book per Share Chart

Zhaojin Mining Industry Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.54

Zhaojin Mining Industry Co Quarterly Data
Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Mar24 Jun24 Sep24 Dec24 Jun25 Sep25 Dec25
Cyclically Adjusted Book per Share 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 0.00 0.00 0.00 0.00 0.54

FRA:ZVL vs NEM, AU: Cyclically Adjusted Book per Share Comparison

For the Gold subindustry, Zhaojin Mining Industry Co'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.


Zhaojin Mining Industry Co Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Zhaojin Mining Industry Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Zhaojin Mining Industry Co's Cyclically Adjusted PB Ratio falls into.


FRA:ZVL
90GF Score
Zhaojin Mining Industry Co Ltd FRA:ZVL
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zhaojin Mining Industry Co Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, Zhaojin Mining Industry Co's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book= Book Value per Share /CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=0.845/120.7036*120.7036
=0.845

Current CPI (Dec. 2025) = 120.7036.

Zhaojin Mining Industry Co Quarterly Data

Book Value per Share CPI Adj_Book
200512 0.024 73.434 0.039
200612 0.102 75.082 0.164
200712 0.106 77.941 0.164
200812 0.150 79.590 0.227
200912 0.157 80.799 0.235
201006 0.198 81.568 0.293
201012 0.210 83.217 0.305
201106 0.208 86.185 0.291
201112 0.270 87.944 0.371
201206 0.274 89.373 0.370
201212 0.346 91.132 0.458
201306 0.333 93.001 0.432
201312 0.341 95.090 0.433
201406 0.338 96.409 0.423
201412 0.383 99.707 0.464
201506 0.447 99.267 0.544
201512 0.516 102.015 0.611
201606 0.495 101.686 0.588
201612 0.518 103.225 0.606
201706 0.529 103.664 0.616
201712 0.525 104.984 0.604
201806 0.545 106.193 0.619
201812 0.527 107.622 0.591
201906 0.532 109.601 0.586
201912 0.547 110.700 0.596
202006 0.525 110.590 0.573
202012 0.521 109.711 0.573
202106 0.528 111.360 0.572
202112 0.693 112.349 0.745
202206 0.687 113.448 0.731
202212 0.688 114.548 0.725
202306 0.696 115.647 0.726
202312 0.741 117.296 0.763
202403 0.728 117.735 0.746
202406 0.773 117.296 0.795
202409 0.774 118.615 0.788
202412 0.817 118.945 0.829
202506 0.800 119.055 0.811
202509 0.816 119.934 0.821
202512 0.845 120.704 0.845

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

What does a Cyclically Adjusted Book per Share of €0.54 mean?
Zhaojin Mining Industry Co (FRA:ZVL) has a Cyclically Adjusted Book per Share of €0.54 as of Dec. 2025. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on Zhaojin Mining Industry Co and its competitors.
Is Zhaojin Mining Industry Co's Cyclically Adjusted Book per Share too high?
Zhaojin Mining Industry Co's current Cyclically Adjusted Book per Share is €0.54. Overall, Zhaojin Mining Industry Co has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zhaojin Mining Industry Co's Cyclically Adjusted Book per Share compare to NEM and AU?
Zhaojin Mining Industry Co's Cyclically Adjusted Book per Share of €0.54 can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Book per Share for a Metals & Mining company?
A good Cyclically Adjusted Book per Share depends on the Metals & Mining industry context. However, Cyclically Adjusted Book per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Book per Share mean?
A high Cyclically Adjusted Book per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on Zhaojin Mining Industry Co and its competitors. Zhaojin Mining Industry Co's current Cyclically Adjusted Book per Share is €0.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zhaojin Mining Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Zhaojin Mining Industry Co (FRA:ZVL) is currently considered Modestly Undervalued. The stock's GF Value™ is €3.18, compared to a current price of €2.26 — trading 28.9% below its estimated fair value. The current Cyclically Adjusted Book per Share is €0.54. Zhaojin Mining Industry Co's overall GF Score™ is 90/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For Zhaojin Mining Industry Co (FRA:ZVL), the current Cyclically Adjusted Book per Share is €0.54 as of Dec. 2025. 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 Zhaojin Mining Industry Co (FRA:ZVL) Overvalued in 2026?

Based on GuruFocus' analysis, Zhaojin Mining Industry Co stock appears to be undervalued. The current stock price of €2.26 is trading 28.9% below its estimated GF Value™ of €3.18. GuruFocus considers Zhaojin Mining Industry Co to be Modestly Undervalued.

Key valuation signals for FRA:ZVL:

  • Cyclically Adjusted Book per Share: €0.54
  • GF Value™: €3.18 vs. price of €2.26 (28.9% below fair value)
  • GF Score™: 90/100 with 4 warning signs

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


Zhaojin Mining Industry Co Business Description

Address 1 Matheson Street, Causeway Bay, 31st Floor, Tower Two, Times Square, HKG, 265400
Zhaojin Mining Industry Co Ltd is engaged in the mining, processing, smelting, and sale of gold and silver products. The company has three reportable operating segments as follows: the Gold operations segment consists of gold mining and smelting operations; the Copper operations segment consists of copper mining and smelting operations; the Others segment comprises, principally, the Group's other investment activities, operation of a finance company, operation and catering services of a hotel, exploration services, engineering design and consulting services, and overseas operations.
90GF Score

Get the complete analysis for FRA:ZVL

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

€2.26
Price
€3.18
GF Value