ARSEF (Altai Resources) Cyclically Adjusted PB Ratio: 0.50 (As of Jul. 20, 2026) — 56% Above 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.

What is Altai Resources Cyclically Adjusted PB Ratio?

Altai Resources ARSEF Cyclically Adjusted PB Ratio is 0.50 as of Jul. 20, 2026, which is 56% above its 10-year median of 0.32. The stock has 3 warning signs investors should review. Among 773 Oil & Gas companies, Altai Resources ranks better than 75.03% on this metric.

As of today (2026-07-20), Altai Resources's current share price is $0.015. Altai Resources's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $0.03. Altai Resources's Cyclically Adjusted PB Ratio for today is 0.50.

The historical rank and industry rank for Altai Resources's Cyclically Adjusted PB Ratio or its related term are showing as below:

ARSEF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.09   Med: 0.32   Max: 1.08
Current: 0.49

During the past years, Altai Resources's highest Cyclically Adjusted PB Ratio was 1.08. The lowest was 0.09. And the median was 0.32.

ARSEF's Cyclically Adjusted PB Ratio is ranked better than
75.03% of 773 companies
in the Oil & Gas industry
Industry Median: 1.2 vs ARSEF: 0.49

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.

Altai Resources's adjusted book value per share data for the three months ended in Mar. 2026 was $0.009. 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 $0.03 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Altai Resources  (OTCPK:ARSEF) 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.


Altai Resources Cyclically Adjusted PB Ratio Related Terms


Altai Resources Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Altai Resources'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.

Altai Resources Cyclically Adjusted PB Ratio Chart

Altai Resources 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 0.58 0.45 0.36 0.57 0.31

Altai Resources Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.57 0.63 0.76 0.31 0.16

ARSEF vs COP, EOG, FANG: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas E&P subindustry, Altai Resources'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.


Altai Resources Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Altai Resources's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Altai Resources 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.

Altai Resources's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.015/0.03
=0.50

* 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.

Altai Resources's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Altai Resources'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)
=0.009/132.2623*132.2623
=0.009

Current CPI (Mar. 2026) = 132.2623.

Altai Resources Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.068 102.002 0.088
201609 0.067 101.765 0.087
201612 0.067 101.449 0.087
201703 0.067 102.634 0.086
201706 0.067 103.029 0.086
201709 0.072 103.345 0.092
201712 0.070 103.345 0.090
201803 0.067 105.004 0.084
201806 0.066 105.557 0.083
201809 0.067 105.636 0.084
201812 0.062 105.399 0.078
201903 0.064 106.979 0.079
201906 0.065 107.690 0.080
201909 0.065 107.611 0.080
201912 0.065 107.769 0.080
202003 0.056 107.927 0.069
202006 0.057 108.401 0.070
202009 0.058 108.164 0.071
202012 0.062 108.559 0.076
202103 0.066 110.298 0.079
202106 0.071 111.720 0.084
202109 0.067 112.905 0.078
202112 0.068 113.774 0.079
202203 0.070 117.646 0.079
202206 0.065 120.806 0.071
202209 0.060 120.648 0.066
202212 0.060 120.964 0.066
202303 0.059 122.702 0.064
202306 0.061 124.203 0.065
202309 0.058 125.230 0.061
202312 0.061 125.072 0.065
202403 0.061 126.258 0.064
202406 0.059 127.522 0.061
202409 0.064 127.285 0.067
202412 0.060 127.364 0.062
202503 0.059 129.181 0.060
202506 0.051 129.892 0.052
202509 0.010 130.287 0.010
202512 0.009 130.366 0.009
202603 0.009 132.262 0.009

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 0.50 mean?
Altai Resources (ARSEF) has a Cyclically Adjusted PB Ratio of 0.50 as of Jul. 20, 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 Altai Resources and its competitors. This is 56% above median its historical median of 0.32. Over the past decade, Altai Resources' Cyclically Adjusted PB Ratio has ranged from 0.09 to 1.08. According to the industry distribution chart, Altai Resources ranks #193 out of 773 companies in the Oil & Gas industry, placing it in the top 25%.
Is Altai Resources' Cyclically Adjusted PB Ratio too high?
Altai Resources' current Cyclically Adjusted PB Ratio of 0.50 is 56% above median its 10-year median of 0.32. Over the past 10 years, this metric has ranged from a low of 0.09 to a high of 1.08. The Oil & Gas industry median Cyclically Adjusted PB Ratio is 1.20. Altai Resources' value of 0.50 is 58.3% below this industry median. Based on the distribution chart, Altai Resources ranks #193 out of 773 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers.
How does Altai Resources' Cyclically Adjusted PB Ratio compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Altai Resources ranks #193 out of 773 companies for Cyclically Adjusted PB Ratio. This places Altai Resources in the top 25% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.20. Altai Resources' value of 0.50 is 58.3% below this benchmark. Historically, Altai Resources' own Cyclically Adjusted PB Ratio has ranged from 0.09 to 1.08 over the past decade. While the company's 10-year median is 0.32 vs. the industry median of 1.20, Altai Resources has consistently been below 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 an Oil & Gas company?
The median Cyclically Adjusted PB Ratio among Oil & Gas companies is 1.20, based on 773 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. Altai Resources's current Cyclically Adjusted PB Ratio of 0.50 is 58.3% below 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 Altai Resources and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PB Ratio is 1.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Altai Resources's current Cyclically Adjusted PB Ratio is 0.50, which is 56% above median its own 10-year median of 0.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Altai Resources stock overvalued right now?
Based on GuruFocus' analysis, Altai Resources (ARSEF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.01, compared to a current price of $0.02 — trading 50% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.50, which is 56% above median its 10-year median of 0.32 and 58.3% below the Oil & Gas industry median of 1.20. 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 Altai Resources (ARSEF), the current Cyclically Adjusted PB Ratio is 0.50 as of Jul. 20, 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.

Altai Resources Business Description

Industry EnergyOil & Gas
Other Exchanges 1IA:GermanyATI.H:Canada
Address 895 Don Mills Road, Suite 900, Two Morneau Shepell Centre, Toronto, ON, CAN, M3C 1W3
Altai Resources Inc is a Canadian based resource company, with a diversified portfolio of natural gas, oil and gold properties in Canada. It is engaged in the exploration and development of mineral properties. The company's properties portfolio includes Sorel-Trois Riviere's natural gas property, Cessford oil field, and Malartic gold project.