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Theta Gold MinesASX:TGM +2.70%25 Cyclically Adjusted PB Ratio is 19.00 as of Aug. 06, 2026. GuruFocus rates ASX:TGM with a GF Score™ of 25/100. The stock has 2 warning signs investors should review. Among 1,534 Metals & Mining companies, Theta Gold Mines ranks worse than 96.74% on this metric.
The historical rank and industry rank for Theta Gold Mines's Cyclically Adjusted PB Ratio or its related term are showing as below:
ASX:TGM'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0 Med: 0 Max: 19.64
Current: 19.64
During the past 13 years, Theta Gold Mines's highest Cyclically Adjusted PB Ratio was 19.64. The lowest was 0.00. And the median was 0.00.
ASX:TGM's Cyclically Adjusted PB Ratio is ranked worse than 96.74% of 1534
companies
in the Metals & Mining industry
Industry Median: 1.41
vs ASX:TGM: 19.64
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.
Theta Gold Mines's adjusted book value per share data of for the fiscal year that ended in Jun25 was A$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 A$0.01 for the trailing ten years ended in Jun25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Theta Gold Mines (ASX:TGM) 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.
Theta Gold Mines Cyclically Adjusted PB Ratio Related Terms
Theta Gold Mines Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Theta Gold Mines'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.
Theta Gold Mines Cyclically Adjusted PB Ratio Chart
ASX:TGM vs NEM, AU: Cyclically Adjusted PB Ratio Comparison
For the Gold subindustry, Theta Gold Mines'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.
Theta Gold Mines Cyclically Adjusted PB Ratio vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Theta Gold Mines's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Theta Gold Mines's Cyclically Adjusted PB Ratio falls into.
Theta Gold Mines 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.
Theta Gold Mines's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 19.00 mean?
Theta Gold Mines (ASX:TGM) has a Cyclically Adjusted PB Ratio of 19.00 as of Aug. 06, 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 Theta Gold Mines and its competitors. According to the industry distribution chart, Theta Gold Mines ranks #1484 out of 1534 companies in the Metals & Mining industry, placing it in the top 96.7%.
Is Theta Gold Mines' Cyclically Adjusted PB Ratio too high?
Theta Gold Mines' current Cyclically Adjusted PB Ratio is 19.00. The Metals & Mining industry median Cyclically Adjusted PB Ratio is 1.41. Theta Gold Mines' value of 19.00 is 1247.5% above this industry median. Based on the distribution chart, Theta Gold Mines ranks #1484 out of 1534 companies in the Metals & Mining industry, which is in the bottom quartile relative to peers. Overall, Theta Gold Mines has a GF Score™ of 25/100, reflecting its overall financial health beyond just this single metric.
How does Theta Gold Mines' Cyclically Adjusted PB Ratio compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Theta Gold Mines ranks #1484 out of 1534 companies for Cyclically Adjusted PB Ratio. This places Theta Gold Mines in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.41. Theta Gold Mines' value of 19.00 is 1247.5% above this benchmark. 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 Metals & Mining company?
The median Cyclically Adjusted PB Ratio among Metals & Mining companies is 1.41, based on 1,534 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. Theta Gold Mines's current Cyclically Adjusted PB Ratio of 19.00 is 1247.5% 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 Theta Gold Mines and its competitors. For the Metals & Mining industry, the median Cyclically Adjusted PB Ratio is 1.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Theta Gold Mines's current Cyclically Adjusted PB Ratio is 19.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Theta Gold Mines stock overvalued right now?
Theta Gold Mines (ASX:TGM) has a current Cyclically Adjusted PB Ratio of 19.00. The current Cyclically Adjusted PB Ratio is 19.00 and 1247.5% above the Metals & Mining industry median of 1.41. Theta Gold Mines' overall GF Score™ is 25/100 with 2 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 Theta Gold Mines (ASX:TGM), the current Cyclically Adjusted PB Ratio is 19.00 as of Aug. 06, 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.
Theta Gold Mines Ltd is a gold exploration and development company. The company holds gold assets in the South African gold mining region. The projects of the company include the TGME Project near the historic gold mining town of Pilgrims Rest in Mpumalanga Province, and other projects.
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