PT Bank Ganesha Tbk (ISX:BGTG) Cyclically Adjusted Book per Share: Rp132.18 (As of Mar. 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.

ISX:BGTG PT Bank Ganesha Tbk ISX:BGTG
57 GF Score
Price Rp113.00
GF Value Rp69.62
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is PT Bank Ganesha Tbk Cyclically Adjusted Book per Share?

PT Bank Ganesha Tbk ISX:BGTG +4.63% 57 Cyclically Adjusted Book per Share is Rp132.18 as of Mar. 2026. GuruFocus rates ISX:BGTG with a GF Score™ of 57/100 and a GF Value™ of Rp69.62 (Significantly Overvalued). The stock has 2 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.

PT Bank Ganesha Tbk's adjusted book value per share for the three months ended in Mar. 2026 was Rp155.589. 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 Rp132.18 for the trailing ten years ended in Mar. 2026.

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 (2026-07-18), PT Bank Ganesha Tbk's current stock price is Rp113.00. PT Bank Ganesha Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was Rp132.18. PT Bank Ganesha Tbk's Cyclically Adjusted PB Ratio of today is 0.85.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of PT Bank Ganesha Tbk was 1.12. The lowest was 0.76. And the median was 0.93.


PT Bank Ganesha Tbk  (ISX:BGTG) 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.

PT Bank Ganesha Tbk's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=113.00/132.18
=0.85

* 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 PT Bank Ganesha Tbk was 1.12. The lowest was 0.76. And the median was 0.93.


Be Aware

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


PT Bank Ganesha Tbk Cyclically Adjusted Book per Share Related Terms


PT Bank Ganesha Tbk Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for PT Bank Ganesha Tbk'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.

PT Bank Ganesha Tbk Cyclically Adjusted Book per Share Chart

PT Bank Ganesha Tbk 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 0.00 127.40

PT Bank Ganesha Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 127.40 132.18

PT Bank Ganesha Tbk Cyclically Adjusted Book per Share Competitor Comparison

For the Banks - Regional subindustry, PT Bank Ganesha Tbk'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.


PT Bank Ganesha Tbk Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, PT Bank Ganesha Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Bank Ganesha Tbk's Cyclically Adjusted PB Ratio falls into.


ISX:BGTG
57GF Score
PT Bank Ganesha Tbk ISX:BGTG
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Bank Ganesha Tbk 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, PT Bank Ganesha Tbk's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book= Book Value per Share /CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=155.589/136.5387*136.5387
=155.589

Current CPI (Mar. 2026) = 136.5387.

PT Bank Ganesha Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201412 17.592 98.819 24.307
201512 18.014 102.133 24.082
201612 91.402 105.222 118.606
201703 0.000 106.476 0.000
201706 0.000 107.722 0.000
201709 0.000 108.020 0.000
201712 95.725 109.017 119.891
201803 97.306 110.097 120.676
201806 97.643 111.085 120.017
201809 98.961 111.135 121.582
201812 96.396 112.430 117.067
201903 0.000 112.829 0.000
201906 98.750 114.730 117.521
201909 98.890 114.905 117.509
201912 97.577 115.486 115.365
202003 97.416 116.252 114.415
202006 97.663 116.630 114.334
202009 98.127 116.397 115.108
202012 97.503 117.318 113.477
202103 97.182 117.840 112.603
202106 97.396 118.184 112.522
202109 97.526 118.262 112.598
202112 183.933 119.516 210.130
202203 133.168 120.948 150.334
202206 133.482 123.322 147.787
202209 135.134 125.298 147.257
202212 190.563 126.098 206.342
202303 191.091 126.953 205.520
202306 132.371 127.663 141.574
202309 133.510 128.151 142.248
202312 135.339 129.395 142.811
202403 136.354 130.607 142.547
202406 137.583 130.792 143.629
202409 141.182 130.361 147.873
202412 143.727 131.432 149.312
202503 146.169 131.948 151.254
202506 148.785 133.241 152.468
202509 151.646 133.819 154.728
202512 153.906 135.271 155.348
202603 155.589 136.539 155.589

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 Rp132.18 mean?
PT Bank Ganesha Tbk (ISX:BGTG) has a Cyclically Adjusted Book per Share of Rp132.18 as of Mar. 2026. 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 PT Bank Ganesha Tbk and its competitors.
Is PT Bank Ganesha Tbk's Cyclically Adjusted Book per Share too high?
PT Bank Ganesha Tbk's current Cyclically Adjusted Book per Share is Rp132.18. Overall, PT Bank Ganesha Tbk has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Bank Ganesha Tbk's Cyclically Adjusted Book per Share compare to competitors?
PT Bank Ganesha Tbk's Cyclically Adjusted Book per Share of Rp132.18 can be compared against companies in the Banks 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 Banks company?
A good Cyclically Adjusted Book per Share depends on the Banks 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 PT Bank Ganesha Tbk and its competitors. PT Bank Ganesha Tbk's current Cyclically Adjusted Book per Share is Rp132.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Bank Ganesha Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Bank Ganesha Tbk (ISX:BGTG) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp69.62, compared to a current price of Rp113.00 — trading 62.3% above its estimated fair value. The current Cyclically Adjusted Book per Share is Rp132.18. PT Bank Ganesha Tbk's overall GF Score™ is 57/100 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 Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For PT Bank Ganesha Tbk (ISX:BGTG), the current Cyclically Adjusted Book per Share is Rp132.18 as of Mar. 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 PT Bank Ganesha Tbk (ISX:BGTG) Overvalued in 2026?

Based on GuruFocus' analysis, PT Bank Ganesha Tbk stock appears to be overvalued. The current stock price of Rp113.00 is trading 62.3% above its estimated GF Value™ of Rp69.62. GuruFocus considers PT Bank Ganesha Tbk to be Significantly Overvalued.

Key valuation signals for ISX:BGTG:

  • Cyclically Adjusted Book per Share: Rp132.18
  • GF Value™: Rp69.62 vs. price of Rp113.00 (62.3% above fair value)
  • GF Score™: 57/100 with 2 warning signs

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


PT Bank Ganesha Tbk Business Description

Address Jalan Hayam Wuruk No. 8, Wisma Hayam Wuruk, 1st & 2nd Floor, Central Jakarta, Jakarta, IDN, 10120
PT Bank Ganesha Tbk operates as a commercial bank. The bank's operational segment is divided based on products and services, consisting of Banking, Consumer, Treasury, and Other businesses. The majority of the revenue is derived from the Consumer segment. The bank offers time deposits, current accounts, and savings accounts, as well as extends loans to commercial, SME, and corporate segments. The bank also offers export and import payment transactions, foreign exchange, and other banking services. All operations of the bank are in the territory of Indonesia.
57GF Score

Get the complete analysis for ISX:BGTG

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

Rp113.00
Price
Rp69.62
GF Value