Al-Salam Real Estate Investment Trust (XKLS:5269) Cyclically Adjusted Book per Share: RM1.28 (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.

XKLS:5269 Al-Salam Real Estate Investment Trust XKLS:5269
49 GF Score
Price RM0.59
GF Value RM0.49
Valuation Modestly Overvalued
! 9 Warning Signs
View Full Analysis

What is Al-Salam Real Estate Investment Trust Cyclically Adjusted Book per Share?

Al-Salam Real Estate Investment Trust XKLS:5269 +3.54% 49 Cyclically Adjusted Book per Share is RM1.28 as of Mar. 2026. GuruFocus rates XKLS:5269 with a GF Score™ of 49/100 and a GF Value™ of RM0.49 (Modestly Overvalued). The stock has 9 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.

Al-Salam Real Estate Investment Trust's adjusted book value per share for the three months ended in Mar. 2026 was RM1.128. 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 RM1.28 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Al-Salam Real Estate Investment Trust's average Cyclically Adjusted Book Growth Rate was 1.60% 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.

As of today (2026-07-14), Al-Salam Real Estate Investment Trust's current stock price is RM0.585. Al-Salam Real Estate Investment Trust's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was RM1.28. Al-Salam Real Estate Investment Trust's Cyclically Adjusted PB Ratio of today is 0.46.

During the past 11 years, the highest Cyclically Adjusted PB Ratio of Al-Salam Real Estate Investment Trust was 0.45. The lowest was 0.27. And the median was 0.35.


Al-Salam Real Estate Investment Trust  (XKLS:5269) 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.

Al-Salam Real Estate Investment Trust's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=0.585/1.28
=0.46

* 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 11 years, the highest Cyclically Adjusted PB Ratio of Al-Salam Real Estate Investment Trust was 0.45. The lowest was 0.27. And the median was 0.35.


Be Aware

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


Al-Salam Real Estate Investment Trust Cyclically Adjusted Book per Share Related Terms


Al-Salam Real Estate Investment Trust Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Al-Salam Real Estate Investment Trust'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.

Al-Salam Real Estate Investment Trust Cyclically Adjusted Book per Share Chart

Al-Salam Real Estate Investment Trust 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 1.25 1.26

Al-Salam Real Estate Investment Trust 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 1.26 1.27 1.27 1.26 1.28

XKLS:5269 vs VICI, WPC, BNL: Cyclically Adjusted Book per Share Comparison

For the REIT - Diversified subindustry, Al-Salam Real Estate Investment Trust'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.


Al-Salam Real Estate Investment Trust Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Al-Salam Real Estate Investment Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Al-Salam Real Estate Investment Trust's Cyclically Adjusted PB Ratio falls into.


XKLS:5269
49GF Score
Al-Salam Real Estate Investment Trust XKLS:5269
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Al-Salam Real Estate Investment Trust 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, Al-Salam Real Estate Investment Trust'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)
=1.128/330.2130*330.2130
=1.128

Current CPI (Mar. 2026) = 330.2130.

Al-Salam Real Estate Investment Trust Quarterly Data

Book Value per Share CPI Adj_Book
201606 1.027 241.018 1.407
201609 1.018 241.428 1.392
201612 1.055 241.432 1.443
201703 1.055 243.801 1.429
201706 1.053 244.955 1.420
201709 1.039 246.819 1.390
201712 1.063 246.524 1.424
201803 1.045 249.554 1.383
201806 1.048 251.989 1.373
201809 1.053 252.439 1.377
201812 1.071 251.233 1.408
201903 1.063 254.202 1.381
201906 1.065 256.143 1.373
201909 1.068 256.759 1.374
201912 1.076 256.974 1.383
202003 1.065 258.115 1.362
202006 1.070 257.797 1.371
202009 1.080 260.280 1.370
202012 1.030 260.474 1.306
202103 1.027 264.877 1.280
202106 1.032 271.696 1.254
202109 1.040 274.310 1.252
202112 1.018 278.802 1.206
202203 1.008 287.504 1.158
202206 1.016 296.311 1.132
202209 1.019 296.808 1.134
202212 1.103 296.797 1.227
202303 1.094 301.836 1.197
202306 1.100 305.109 1.191
202309 1.096 307.789 1.176
202312 1.114 306.746 1.199
202403 1.118 312.332 1.182
202406 1.118 314.175 1.175
202409 1.119 315.301 1.172
202412 1.118 315.605 1.170
202503 1.121 319.799 1.158
202506 1.121 322.561 1.148
202509 1.122 324.800 1.141
202512 1.124 324.054 1.145
202603 1.128 330.213 1.128

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 RM1.28 mean?
Al-Salam Real Estate Investment Trust (XKLS:5269) has a Cyclically Adjusted Book per Share of RM1.28 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 Al-Salam Real Estate Investment Trust and its competitors.
Is Al-Salam Real Estate Investment Trust's Cyclically Adjusted Book per Share too high?
Al-Salam Real Estate Investment Trust's current Cyclically Adjusted Book per Share is RM1.28. Overall, Al-Salam Real Estate Investment Trust has a GF Score™ of 49/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Al-Salam Real Estate Investment Trust's Cyclically Adjusted Book per Share compare to VICI and WPC?
Al-Salam Real Estate Investment Trust's Cyclically Adjusted Book per Share of RM1.28 can be compared against companies in the REITs 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 REITs company?
A good Cyclically Adjusted Book per Share depends on the REITs 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 Al-Salam Real Estate Investment Trust and its competitors. Al-Salam Real Estate Investment Trust's current Cyclically Adjusted Book per Share is RM1.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Al-Salam Real Estate Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, Al-Salam Real Estate Investment Trust (XKLS:5269) is currently considered Modestly Overvalued. The stock's GF Value™ is RM0.49, compared to a current price of RM0.59 — trading 19.4% above its estimated fair value. The current Cyclically Adjusted Book per Share is RM1.28. Al-Salam Real Estate Investment Trust's overall GF Score™ is 49/100 with 9 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 Al-Salam Real Estate Investment Trust (XKLS:5269), the current Cyclically Adjusted Book per Share is RM1.28 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 Al-Salam Real Estate Investment Trust (XKLS:5269) Overvalued in 2026?

Based on GuruFocus' analysis, Al-Salam Real Estate Investment Trust stock appears to be overvalued. The current stock price of RM0.59 is trading 19.4% above its estimated GF Value™ of RM0.49. GuruFocus considers Al-Salam Real Estate Investment Trust to be Modestly Overvalued.

Key valuation signals for XKLS:5269:

  • Cyclically Adjusted Book per Share: RM1.28
  • GF Value™: RM0.49 vs. price of RM0.59 (19.4% above fair value)
  • GF Score™: 49/100 with 9 warning signs

No single metric tells the full story. See the XKLS:5269 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Al-Salam Real Estate Investment Trust Business Description

Industry Real EstateREITs
Address V SQUARE, Jalan Utara, Unit 1-19-02, Level 19, Block 1, Bandar Petaling Jaya, Petaling Jaya, SGR, MYS, 46200
Al-Salam Real Estate Investment Trust is an Islamic REIT (Real Estate Investment Trust) based in Malaysia. The principal activity of the trust is investing in Shariah-compliant properties. Its segments include retail outlets, which generate maximum revenue, office buildings, food and beverage (F&B) properties comprising restaurants, industrial and other properties, and other segments comprising fund-level operations. The Fund's key objective is to provide unitholders with regular and stable income distributions, sustainable long-term unit prices, and growth in distributable income and capital while maintaining an appropriate capital structure. The Fund operates solely in Malaysia.
49GF Score

Get the complete analysis for XKLS:5269

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

RM0.59
Price
RM0.49
GF Value