Birla Carbon (Thailand) PCL (BKK:BCT) Cyclically Adjusted PB Ratio: (As of Aug. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

BKK:BCT Birla Carbon (Thailand) PCL BKK:BCT
84 GF Score
Price ฿49.75
GF Value ฿41.89
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Birla Carbon (Thailand) PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Birla Carbon (Thailand) PCL  (BKK:BCT) 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.


Birla Carbon (Thailand) PCL Cyclically Adjusted PB Ratio Related Terms


Birla Carbon (Thailand) PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Birla Carbon (Thailand) PCL'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.

Birla Carbon (Thailand) PCL Cyclically Adjusted PB Ratio Chart

Birla Carbon (Thailand) PCL Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.84 0.90 0.85 0.71 0.48

Birla Carbon (Thailand) PCL 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 0.54 0.55 0.59 0.48 0.00

BKK:BCT vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Birla Carbon (Thailand) PCL'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.


Birla Carbon (Thailand) PCL Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Birla Carbon (Thailand) PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Birla Carbon (Thailand) PCL's Cyclically Adjusted PB Ratio falls into.


BKK:BCT
84GF Score
Birla Carbon (Thailand) PCL BKK:BCT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Birla Carbon (Thailand) PCL 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.

Birla Carbon (Thailand) PCL's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Birla Carbon (Thailand) PCL'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)
=121.55/333.9520*333.9520
=121.550

Current CPI (Jun. 2026) = 333.9520.

Birla Carbon (Thailand) PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 42.867 241.428 59.295
201612 43.722 241.432 60.477
201703 47.844 243.801 65.535
201706 50.217 244.955 68.462
201709 51.525 246.819 69.715
201712 53.432 246.524 72.381
201803 54.461 249.554 72.879
201806 57.930 251.989 76.773
201809 57.992 252.439 76.718
201812 59.803 251.233 79.493
201903 61.228 254.202 80.437
201906 61.817 256.143 80.595
201909 61.946 256.759 80.570
201912 62.838 256.974 81.661
202003 66.962 258.115 86.636
202006 64.061 257.797 82.985
202009 65.517 260.280 84.062
202012 65.777 260.474 84.332
202103 69.363 264.877 87.452
202106 73.014 271.696 89.744
202109 77.201 274.310 93.986
202112 79.173 278.802 94.834
202203 83.410 287.504 96.885
202206 88.578 296.311 99.830
202209 93.347 296.808 105.029
202212 90.397 296.797 101.713
202303 93.786 301.836 103.765
202306 98.949 305.109 108.303
202309 102.441 307.789 111.149
202312 104.032 306.746 113.259
202403 110.255 312.332 117.887
202406 115.934 314.175 123.232
202409 105.217 315.301 111.441
202412 108.890 315.605 115.220
202503 111.594 319.799 116.533
202506 112.796 322.561 116.779
202509 113.634 324.800 116.836
202512 114.827 324.054 118.334
202603 116.930 330.213 118.254
202606 121.550 333.952 121.550

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.

Is Birla Carbon (Thailand) PCL (BKK:BCT) Overvalued in 2026?

Based on GuruFocus' analysis, Birla Carbon (Thailand) PCL stock appears to be overvalued. The current stock price of ฿49.75 is trading 18.8% above its estimated GF Value™ of ฿41.89. GuruFocus considers Birla Carbon (Thailand) PCL to be Modestly Overvalued.

Key valuation signals for BKK:BCT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ฿41.89 vs. price of ฿49.75 (18.8% above fair value)
  • GF Score™: 84/100 with 6 warning signs

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


Birla Carbon (Thailand) PCL Business Description

Address Ploenchit Road, 888/122, 888/128 Mahatun Plaza Building, 16th Floor, Lumpini, Patumwan, Bangkok, THA, 10330
Birla Carbon (Thailand) PCL through its subsidiaries operates as a manufacturer and supplier of carbon black additives for distribution to international markets. Carbon black is the flagship business of the Aditya Birla Group. Its product offering categories include Rubber Products, Rubber - Birla Carbon 3000 Series, Specialty Products, Specialty Post-Treated Products, and Form Letters. Geographically, it derives a majority of revenue from Thailand and also has a presence in Japan, Indonesia, Vietnam, Malaysia, and Other countries. The company serves Tires, Specialty Blacks and Mechanical Rubber Goods market.
84GF Score

Get the complete analysis for BKK:BCT

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

฿49.75
Price
฿41.89
GF Value