PT Mustika Ratu Tbk (ISX:MRAT) Cyclically Adjusted Book per Share: Rp1,067.37 (As of Mar. 2026)

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Director of Data and Quant Analytics at GuruFocus
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ISX:MRAT PT Mustika Ratu Tbk ISX:MRAT
70 GF Score
Price Rp442.00
GF Value Rp582.06
Valuation Modestly Undervalued
! 4 Warning Signs
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What is PT Mustika Ratu Tbk Cyclically Adjusted Book per Share?

PT Mustika Ratu Tbk ISX:MRAT 70 Cyclically Adjusted Book per Share is Rp1,067.37 as of Mar. 2026. GuruFocus rates ISX:MRAT with a GF Score™ of 70/100 and a GF Value™ of Rp582.06 (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.

PT Mustika Ratu Tbk's adjusted book value per share for the three months ended in Mar. 2026 was Rp1,344.350. 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 Rp1,067.37 for the trailing ten years ended in Mar. 2026.

During the past 12 months, PT Mustika Ratu Tbk's average Cyclically Adjusted Book Growth Rate was 5.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 1.00% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 0.40% per year. 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.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of PT Mustika Ratu Tbk was 1.00% per year. The lowest was -0.30% per year. And the median was -0.20% per year.

As of today (2026-07-16), PT Mustika Ratu Tbk's current stock price is Rp442.00. PT Mustika Ratu Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was Rp1,067.37. PT Mustika Ratu Tbk's Cyclically Adjusted PB Ratio of today is 0.41.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of PT Mustika Ratu Tbk was 0.83. The lowest was 0.12. And the median was 0.34.


PT Mustika Ratu Tbk  (ISX:MRAT) 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 Mustika Ratu Tbk's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=442.00/1067.37
=0.41

* 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 Mustika Ratu Tbk was 0.83. The lowest was 0.12. And the median was 0.34.


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 Mustika Ratu Tbk Cyclically Adjusted Book per Share Related Terms


PT Mustika Ratu Tbk Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for PT Mustika Ratu 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 Mustika Ratu Tbk Cyclically Adjusted Book per Share Chart

PT Mustika Ratu 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 1,013.89 1,021.42 1,013.02 1,009.09 1,053.31

PT Mustika Ratu 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 1,016.33 1,029.46 1,037.67 1,053.31 1,067.37

ISX:MRAT vs PG, CL, KVUE: Cyclically Adjusted Book per Share Comparison

For the Household & Personal Products subindustry, PT Mustika Ratu 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 Mustika Ratu Tbk Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Mustika Ratu Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


ISX:MRAT
70GF Score
PT Mustika Ratu Tbk ISX:MRAT
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Mustika Ratu 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 Mustika Ratu 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)
=1344.35/136.5387*136.5387
=1,344.350

Current CPI (Mar. 2026) = 136.5387.

PT Mustika Ratu Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201606 882.618 103.212 1,167.608
201609 866.390 104.142 1,135.904
201612 862.330 105.222 1,118.982
201703 863.473 106.476 1,107.269
201706 866.031 107.722 1,097.708
201709 869.255 108.020 1,098.746
201712 856.736 109.017 1,073.023
201803 862.091 110.097 1,069.142
201806 862.333 111.085 1,059.928
201809 863.036 111.135 1,060.317
201812 859.637 112.430 1,043.972
201903 853.536 112.829 1,032.901
201906 863.352 114.730 1,027.462
201909 862.808 114.905 1,025.256
201912 861.195 115.486 1,018.189
202003 862.231 116.252 1,012.693
202006 864.972 116.630 1,012.624
202009 861.509 116.397 1,010.591
202012 799.936 117.318 930.992
202103 804.259 117.840 931.879
202106 805.203 118.184 930.257
202109 801.414 118.262 925.270
202112 801.753 119.516 915.946
202203 802.521 120.948 905.968
202206 780.814 123.322 864.493
202209 761.833 125.298 830.176
202212 961.123 126.098 1,040.705
202303 963.287 126.953 1,036.025
202306 965.824 127.663 1,032.973
202309 964.887 128.151 1,028.037
202312 938.876 129.395 990.712
202403 939.097 130.607 981.747
202406 937.323 130.792 978.510
202409 933.903 130.361 978.161
202412 1,340.149 131.432 1,392.225
202503 1,340.715 131.948 1,387.357
202506 1,340.957 133.241 1,374.150
202509 1,340.953 133.819 1,368.206
202512 1,341.696 135.271 1,354.269
202603 1,344.350 136.539 1,344.350

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 Rp1,067.37 mean?
PT Mustika Ratu Tbk (ISX:MRAT) has a Cyclically Adjusted Book per Share of Rp1,067.37 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 Mustika Ratu Tbk and its competitors.
Is PT Mustika Ratu Tbk's Cyclically Adjusted Book per Share too high?
PT Mustika Ratu Tbk's current Cyclically Adjusted Book per Share is Rp1,067.37. Overall, PT Mustika Ratu Tbk has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Mustika Ratu Tbk's Cyclically Adjusted Book per Share compare to PG and CL?
PT Mustika Ratu Tbk's Cyclically Adjusted Book per Share of Rp1,067.37 can be compared against companies in the Consumer Packaged Goods 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 Consumer Packaged Goods company?
A good Cyclically Adjusted Book per Share depends on the Consumer Packaged Goods 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 Mustika Ratu Tbk and its competitors. PT Mustika Ratu Tbk's current Cyclically Adjusted Book per Share is Rp1,067.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Mustika Ratu Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Mustika Ratu Tbk (ISX:MRAT) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp582.06, compared to a current price of Rp442.00 — trading 24.1% below its estimated fair value. The current Cyclically Adjusted Book per Share is Rp1,067.37. PT Mustika Ratu Tbk's overall GF Score™ is 70/100 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 PT Mustika Ratu Tbk (ISX:MRAT), the current Cyclically Adjusted Book per Share is Rp1,067.37 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 Mustika Ratu Tbk (ISX:MRAT) Overvalued in 2026?

Based on GuruFocus' analysis, PT Mustika Ratu Tbk stock appears to be undervalued. The current stock price of Rp442.00 is trading 24.1% below its estimated GF Value™ of Rp582.06. GuruFocus considers PT Mustika Ratu Tbk to be Modestly Undervalued.

Key valuation signals for ISX:MRAT:

  • Cyclically Adjusted Book per Share: Rp1,067.37
  • GF Value™: Rp582.06 vs. price of Rp442.00 (24.1% below fair value)
  • GF Score™: 70/100 with 4 warning signs

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


PT Mustika Ratu Tbk Business Description

Address Jalan Gatot Subroto Kav 74-75, Graha Mustika Ratu, Penthouse Floor, Jakarta, IDN, 12870
PT Mustika Ratu Tbk is a manufacturer of traditional cosmetics and herbal products. The scope of the company's activity includes fabrication, trade, and distribution of herbs, cosmetics, and healthy drinks as well as other related business activities. The company's operating segments consist of Manufacturing; and Trading, services and distribution. The company generates the majority of its revenue from the Manufacturing segment. The company caters to both domestic and international markets. The company provides its products under the brands Mustika Ratu, Mustika Puteri, Bask, Taman Sari, Java Princess, and Ratu Mas.
70GF Score

Get the complete analysis for ISX:MRAT

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

Rp442.00
Price
Rp582.06
GF Value