EMSTEEL Building Materials PJSC (ADX:EMSTEEL) Cyclically Adjusted PB Ratio: 0.92 (As of Aug. 12, 2026) — 12% Below Median

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.

ADX:EMSTEEL EMSTEEL Building Materials PJSC ADX:EMSTEEL
67 GF Score
Price د.إ1.17
GF Value د.إ1.39
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is EMSTEEL Building Materials PJSC Cyclically Adjusted PB Ratio?

EMSTEEL Building Materials PJSC ADX:EMSTEEL +0.86% 67 Cyclically Adjusted PB Ratio is 0.92 as of Aug. 12, 2026, which is 12% below its 10-year median of 1.04. GuruFocus rates ADX:EMSTEEL with a GF Score™ of 67/100 and a GF Value™ of د.إ1.39 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 494 Steel companies, EMSTEEL Building Materials PJSC ranks better than 50% on this metric.

As of today (2026-08-12), EMSTEEL Building Materials PJSC's current share price is د.إ1.17. EMSTEEL Building Materials PJSC's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was د.إ1.27. EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio for today is 0.92.

The historical rank and industry rank for EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio or its related term are showing as below:

ADX:EMSTEEL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.77   Med: 1.04   Max: 1.26
Current: 0.92

During the past years, EMSTEEL Building Materials PJSC's highest Cyclically Adjusted PB Ratio was 1.26. The lowest was 0.77. And the median was 1.04.

ADX:EMSTEEL's Cyclically Adjusted PB Ratio is ranked better than
50% of 494 companies
in the Steel industry
Industry Median: 0.915 vs ADX:EMSTEEL: 0.92

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.

EMSTEEL Building Materials PJSC's adjusted book value per share data for the three months ended in Jun. 2026 was د.إ1.431. 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 د.إ1.27 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


EMSTEEL Building Materials PJSC  (ADX:EMSTEEL) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


EMSTEEL Building Materials PJSC Cyclically Adjusted PB Ratio Related Terms


EMSTEEL Building Materials PJSC Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio 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.

EMSTEEL Building Materials PJSC Cyclically Adjusted PB Ratio Chart

EMSTEEL Building Materials PJSC Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 1.19 1.05 0.91

EMSTEEL Building Materials PJSC Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio 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 1.10 0.94 0.91 0.80 0.88

ADX:EMSTEEL vs NUE, STLD, RS: Cyclically Adjusted PB Ratio Comparison

For the Steel subindustry, EMSTEEL Building Materials PJSC'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.


EMSTEEL Building Materials PJSC Cyclically Adjusted PB Ratio vs Steel Industry

For the Steel industry and Basic Materials sector, EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio falls into.


ADX:EMSTEEL
67GF Score
EMSTEEL Building Materials PJSC ADX:EMSTEEL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

EMSTEEL Building Materials PJSC Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1.17/1.27
=0.92

* 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.

EMSTEEL Building Materials PJSC's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, EMSTEEL Building Materials PJSC's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.431/333.9520*333.9520
=1.431

Current CPI (Jun. 2026) = 333.9520.

EMSTEEL Building Materials PJSC Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.000 241.428 0.000
201612 1.001 241.432 1.385
201703 1.007 243.801 1.379
201706 1.015 244.955 1.384
201709 1.021 246.819 1.381
201712 1.014 246.524 1.374
201803 1.020 249.554 1.365
201806 0.999 251.989 1.324
201809 0.996 252.439 1.318
201812 1.025 251.233 1.362
201903 1.032 254.202 1.356
201906 1.019 256.143 1.329
201909 1.020 256.759 1.327
201912 1.025 256.974 1.332
202003 1.031 258.115 1.334
202006 1.026 257.797 1.329
202009 1.023 260.280 1.313
202012 0.985 260.474 1.263
202103 0.986 264.877 1.243
202106 0.248 271.696 0.305
202109 0.247 274.310 0.301
202112 1.048 278.802 1.255
202203 1.059 287.504 1.230
202206 1.089 296.311 1.227
202209 1.104 296.808 1.242
202212 1.128 296.797 1.269
202303 1.150 301.836 1.272
202306 1.169 305.109 1.280
202309 1.185 307.789 1.286
202312 1.216 306.746 1.324
202403 1.235 312.332 1.320
202406 1.242 314.175 1.320
202409 1.230 315.301 1.303
202412 1.273 315.605 1.347
202503 1.286 319.799 1.343
202506 1.301 322.561 1.347
202509 1.314 324.800 1.351
202512 1.349 324.054 1.390
202603 1.393 330.213 1.409
202606 1.431 333.952 1.431

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

What does a Cyclically Adjusted PB Ratio of 0.92 mean?
EMSTEEL Building Materials PJSC (ADX:EMSTEEL) has a Cyclically Adjusted PB Ratio of 0.92 as of Aug. 12, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on EMSTEEL Building Materials PJSC and its competitors. This is 12% below median its historical median of 1.04. Over the past decade, EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio has ranged from 0.77 to 1.26. According to the industry distribution chart, EMSTEEL Building Materials PJSC ranks #247 out of 494 companies in the Steel industry, placing it in the top 50%.
Is EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio too high?
EMSTEEL Building Materials PJSC's current Cyclically Adjusted PB Ratio of 0.92 is 12% below median its 10-year median of 1.04. Over the past 10 years, this metric has ranged from a low of 0.77 to a high of 1.26. The Steel industry median Cyclically Adjusted PB Ratio is 0.92. EMSTEEL Building Materials PJSC's value of 0.92 is 0.5% above this industry median. Based on the distribution chart, EMSTEEL Building Materials PJSC ranks #247 out of 494 companies in the Steel industry, which is above the industry midpoint. Overall, EMSTEEL Building Materials PJSC has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does EMSTEEL Building Materials PJSC's Cyclically Adjusted PB Ratio compare to NUE and STLD?
According to the Steel industry distribution chart, EMSTEEL Building Materials PJSC ranks #247 out of 494 companies for Cyclically Adjusted PB Ratio. This puts EMSTEEL Building Materials PJSC in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.92. EMSTEEL Building Materials PJSC's value of 0.92 is 0.5% above this benchmark. Historically, EMSTEEL Building Materials PJSC's own Cyclically Adjusted PB Ratio has ranged from 0.77 to 1.26 over the past decade. While the company's 10-year median is 1.04 vs. the industry median of 0.92, EMSTEEL Building Materials PJSC has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Steel company?
The median Cyclically Adjusted PB Ratio among Steel companies is 0.92, based on 494 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. EMSTEEL Building Materials PJSC's current Cyclically Adjusted PB Ratio of 0.92 is 0.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on EMSTEEL Building Materials PJSC and its competitors. For the Steel industry, the median Cyclically Adjusted PB Ratio is 0.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EMSTEEL Building Materials PJSC's current Cyclically Adjusted PB Ratio is 0.92, which is 12% below median its own 10-year median of 1.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EMSTEEL Building Materials PJSC stock overvalued right now?
Based on GuruFocus' analysis, EMSTEEL Building Materials PJSC (ADX:EMSTEEL) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ1.39, compared to a current price of د.إ1.17 — trading 15.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.92, which is 12% below median its 10-year median of 1.04 and 0.5% above the Steel industry median of 0.92. EMSTEEL Building Materials PJSC's overall GF Score™ is 67/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For EMSTEEL Building Materials PJSC (ADX:EMSTEEL), the current Cyclically Adjusted PB Ratio is 0.92 as of Aug. 12, 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 EMSTEEL Building Materials PJSC (ADX:EMSTEEL) Overvalued in 2026?

Based on GuruFocus' analysis, EMSTEEL Building Materials PJSC stock appears to be undervalued. The current stock price of د.إ1.17 is trading 15.8% below its estimated GF Value™ of د.إ1.39. GuruFocus considers EMSTEEL Building Materials PJSC to be Modestly Undervalued.

Key valuation signals for ADX:EMSTEEL:

  • Cyclically Adjusted PB Ratio: 0.92 (12% below median its 10-year median of 1.04)
  • GF Value™: د.إ1.39 vs. price of د.إ1.17 (15.8% below fair value)
  • GF Score™: 67/100 with 3 warning signs
  • Industry Position: 0.5% above the Steel median (#247 of 494)

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


EMSTEEL Building Materials PJSC Business Description

Address Abu Dhabi Industrial City, PO Box: 9022, Musaffah, Abu Dhabi, ARE
EMSTEEL Building Materials PJSC is a steel and building materials manufacturer. The Group incorporates the latest technologies in manufacturing, efficiency and sustainability, to deliver the high-quality products, services and solutions that clients need for their business to thrive today and tomorrow. It produces home-grown high-quality steel products that are shipped and used across the world and delivered into world-wide markets, for the construction, engineering and energy sectors. The group segments include: Steel, Cement and Blocks, and Pipes and other. It derives maximum revenue from Steel segment.
67GF Score

Get the complete analysis for ADX:EMSTEEL

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

د.إ1.17
Price
د.إ1.39
GF Value