Kamada (XTAE:KMDA) Cyclically Adjusted Book per Share: ₪12.41 (As of Mar. 2026)

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Director of Data and Quant Analytics at GuruFocus
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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.

XTAE:KMDA Kamada Ltd XTAE:KMDA
84 GF Score
Price ₪21.74
GF Value ₪25.14
Valuation Modestly Undervalued
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What is Kamada Cyclically Adjusted Book per Share?

Kamada XTAE:KMDA -0.82% 84 Cyclically Adjusted Book per Share is ₪12.41 as of Mar. 2026. GuruFocus rates XTAE:KMDA with a GF Score™ of 84/100 and a GF Value™ of ₪25.14 (Modestly Undervalued).

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.

Kamada's adjusted book value per share for the three months ended in Mar. 2026 was ₪13.506. 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 ₪12.41 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Kamada's average Cyclically Adjusted Book Growth Rate was 8.20% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 6.90% 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 Kamada was 8.70% per year. The lowest was 6.90% per year. And the median was 7.80% per year.

As of today (2026-08-05), Kamada's current stock price is ₪21.74. Kamada's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₪12.41. Kamada's Cyclically Adjusted PB Ratio of today is 1.75.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Kamada was 2.69. The lowest was 1.40. And the median was 1.96.


Kamada  (XTAE:KMDA) 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.

Kamada's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=21.74/12.41
=1.75

* 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 Kamada was 2.69. The lowest was 1.40. And the median was 1.96.


Be Aware

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


Kamada Cyclically Adjusted Book per Share Related Terms


Kamada Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Kamada'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.

Kamada Cyclically Adjusted Book per Share Chart

Kamada 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 8.72 9.86 10.48 11.20 12.04

Kamada 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 11.47 11.70 11.92 12.04 12.41

XTAE:KMDA vs ZTS, UTHR, VTRS: Cyclically Adjusted Book per Share Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Kamada'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.


Kamada Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Kamada's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XTAE:KMDA
84GF Score
Kamada Ltd XTAE:KMDA
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kamada 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, Kamada'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)
=13.506/330.2130*330.2130
=13.506

Current CPI (Mar. 2026) = 330.2130.

Kamada Quarterly Data

Book Value per Share CPI Adj_Book
201606 5.723 241.018 7.841
201609 5.664 241.428 7.747
201612 5.501 241.432 7.524
201703 5.214 243.801 7.062
201706 5.636 244.955 7.598
201709 6.246 246.819 8.356
201712 6.676 246.524 8.942
201803 6.722 249.554 8.895
201806 7.153 251.989 9.373
201809 7.001 252.439 9.158
201812 8.377 251.233 11.010
201903 8.757 254.202 11.376
201906 9.244 256.143 11.917
201909 9.649 256.759 12.409
201912 10.073 256.974 12.944
202003 11.186 258.115 14.311
202006 11.400 257.797 14.602
202009 11.868 260.280 15.057
202012 11.993 260.474 15.204
202103 12.165 264.877 15.166
202106 12.230 271.696 14.864
202109 12.181 274.310 14.663
202112 11.856 278.802 14.042
202203 11.743 287.504 13.487
202206 11.503 296.311 12.819
202209 11.561 296.808 12.862
202212 11.793 296.797 13.121
202303 11.712 301.836 12.813
202306 11.840 305.109 12.814
202309 12.459 307.789 13.367
202312 12.752 306.746 13.728
202403 12.882 312.332 13.619
202406 13.122 314.175 13.792
202409 13.337 315.301 13.968
202412 13.553 315.605 14.180
202503 13.161 319.799 13.590
202506 13.537 322.561 13.858
202509 13.812 324.800 14.042
202512 14.011 324.054 14.277
202603 13.506 330.213 13.506

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 ₪12.41 mean?
Kamada (XTAE:KMDA) has a Cyclically Adjusted Book per Share of ₪12.41 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 Kamada and its competitors.
Is Kamada's Cyclically Adjusted Book per Share too high?
Kamada's current Cyclically Adjusted Book per Share is ₪12.41. Overall, Kamada has a GF Score™ of 84/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kamada's Cyclically Adjusted Book per Share compare to ZTS and UTHR?
Kamada's Cyclically Adjusted Book per Share of ₪12.41 can be compared against companies in the Drug Manufacturers 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 Drug Manufacturers company?
A good Cyclically Adjusted Book per Share depends on the Drug Manufacturers 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 Kamada and its competitors. Kamada's current Cyclically Adjusted Book per Share is ₪12.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kamada stock overvalued right now?
Based on GuruFocus' analysis, Kamada (XTAE:KMDA) is currently considered Modestly Undervalued. The stock's GF Value™ is ₪25.14, compared to a current price of ₪21.74 — trading 13.5% below its estimated fair value. The current Cyclically Adjusted Book per Share is ₪12.41. Kamada's overall GF Score™ is 84/100. 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 Kamada (XTAE:KMDA), the current Cyclically Adjusted Book per Share is ₪12.41 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 Kamada (XTAE:KMDA) Overvalued in 2026?

Based on GuruFocus' analysis, Kamada stock appears to be undervalued. The current stock price of ₪21.74 is trading 13.5% below its estimated GF Value™ of ₪25.14. GuruFocus considers Kamada to be Modestly Undervalued.

Key valuation signals for XTAE:KMDA:

  • Cyclically Adjusted Book per Share: ₪12.41
  • GF Value™: ₪25.14 vs. price of ₪21.74 (13.5% below fair value)
  • GF Score™: 84/100

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


Kamada Business Description

Other Exchanges KMDA:USA
Address 2 Holzman Street, P.O. Box 4081, Science Park, Rehovot, ISR, 7670402
Kamada Ltd is a drug-focused, plasma-derived protein therapeutics company. It is involved in the business of developing, producing, and marketing specialty therapeutics using protein purification proprietary technology. Its product portfolio consists of Glassia, Bramitob, Foster, Ixiaro, Factor-IX, and others. The company has two segments namely, the Proprietary Products segment and the Distribution segment. It derives the majority of its revenue from the Proprietary products segment. The firm categorizes its products in Lung Disease, Vaccines, Haemophilia, Immunoglobulins, Critical care, and Diagnostics.
84GF Score

Get the complete analysis for XTAE:KMDA

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

₪21.74
Price
₪25.14
GF Value