Business Online PCL (BKK:BOL) Cyclically Adjusted PB Ratio: (As of Aug. 17, 2026)

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.

BKK:BOL Business Online PCL BKK:BOL
79 GF Score
Price ฿5.35
GF Value ฿6.78
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Business Online PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Business Online PCL  (BKK:BOL) 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.


Business Online PCL Cyclically Adjusted PB Ratio Related Terms


Business Online PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Business Online 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.

Business Online PCL Cyclically Adjusted PB Ratio Chart

Business Online PCL 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 26.04 16.02 11.50 6.13 5.29

Business Online 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 5.30 6.16 5.29 4.92 0.00

BKK:BOL vs VRSK, EFX, BAH: Cyclically Adjusted PB Ratio Comparison

For the Consulting Services subindustry, Business Online 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.


Business Online PCL Cyclically Adjusted PB Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Business Online PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BKK:BOL
79GF Score
Business Online PCL BKK:BOL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Business Online 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.

Business Online PCL's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Business Online 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)
=1.363/333.9520*333.9520
=1.363

Current CPI (Jun. 2026) = 333.9520.

Business Online PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.485 241.428 0.671
201612 0.507 241.432 0.701
201703 0.461 243.801 0.631
201706 0.497 244.955 0.678
201709 0.517 246.819 0.700
201712 0.571 246.524 0.774
201803 0.515 249.554 0.689
201806 0.553 251.989 0.733
201809 0.599 252.439 0.792
201812 0.616 251.233 0.819
201903 0.653 254.202 0.858
201906 0.581 256.143 0.757
201909 0.584 256.759 0.760
201912 0.611 256.974 0.794
202003 0.767 258.115 0.992
202006 0.829 257.797 1.074
202009 0.824 260.280 1.057
202012 0.866 260.474 1.110
202103 0.816 264.877 1.029
202106 0.898 271.696 1.104
202109 0.882 274.310 1.074
202112 0.924 278.802 1.107
202203 0.853 287.504 0.991
202206 0.948 296.311 1.068
202209 0.927 296.808 1.043
202212 1.075 296.797 1.210
202303 0.993 301.836 1.099
202306 1.110 305.109 1.215
202309 1.085 307.789 1.177
202312 1.255 306.746 1.366
202403 1.334 312.332 1.426
202406 1.258 314.175 1.337
202409 1.215 315.301 1.287
202412 1.269 315.605 1.343
202503 1.354 319.799 1.414
202506 1.290 322.561 1.336
202509 1.253 324.800 1.288
202512 1.337 324.054 1.378
202603 1.253 330.213 1.267
202606 1.363 333.952 1.363

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 Business Online PCL (BKK:BOL) Overvalued in 2026?

Based on GuruFocus' analysis, Business Online PCL stock appears to be undervalued. The current stock price of ฿5.35 is trading 21.1% below its estimated GF Value™ of ฿6.78. GuruFocus considers Business Online PCL to be Modestly Undervalued.

Key valuation signals for BKK:BOL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ฿6.78 vs. price of ฿5.35 (21.1% below fair value)
  • GF Score™: 79/100 with 2 warning signs

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


Business Online PCL Business Description

Address Rama 3 Road, No. 1023 MS Siam Tower, Floor 28, Kwang Chong Nonsi, Khet Yannawa, Bangkok, THA, 10120
Business Online PCL is a service provider and developer of local and world-wide financial information systems. It also has an online and offline business information service provider as well as consulting service and database management. The company solution includes Corpus X, Xignal, Matchlink, Dun and Bradstreet, and Debtline.
79GF Score

Get the complete analysis for BKK:BOL

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

฿5.35
Price
฿6.78
GF Value