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.
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.
Index International Group PCL (BKK:IND) 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.
Index International Group PCL Cyclically Adjusted PB Ratio Related Terms
Index International Group PCL Cyclically Adjusted PB Ratio Historical Data
* 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.
Index International Group PCL Cyclically Adjusted PB Ratio Chart
BKK:IND vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison
For the Engineering & Construction subindustry, Index International Group 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.
Index International Group PCL Cyclically Adjusted PB Ratio vs Construction Industry
For the Construction industry and Industrials sector, Index International Group PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Index International Group PCL's Cyclically Adjusted PB Ratio falls into.
Index International Group 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.
Index International Group PCL does not have a history long enough to calculate Cyclically Adjusted Book per Share. Therefore GuruFocus does not calculate Cyclically Adjusted PB Ratio for this company.
What does a Cyclically Adjusted PB Ratio of 0.86 mean?
Index International Group PCL (BKK:IND) has a Cyclically Adjusted PB Ratio of 0.86 as of Sep. 17, 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 Index International Group PCL and its competitors. According to the industry distribution chart, Index International Group PCL ranks #999999 out of 1239 companies in the Construction industry.
Is Index International Group PCL's Cyclically Adjusted PB Ratio too high?
Index International Group PCL's current Cyclically Adjusted PB Ratio is 0.86. The Construction industry median Cyclically Adjusted PB Ratio is 1.14. Index International Group PCL's value of 0.86 is 24.6% below this industry median. Based on the distribution chart, Index International Group PCL ranks #999999 out of 1239 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Index International Group PCL has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Index International Group PCL's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, Index International Group PCL ranks #999999 out of 1239 companies for Cyclically Adjusted PB Ratio. This places Index International Group PCL in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.14. Index International Group PCL's value of 0.86 is 24.6% below 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 Construction company?
The median Cyclically Adjusted PB Ratio among Construction companies is 1.14, based on 1,239 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. Index International Group PCL's current Cyclically Adjusted PB Ratio of 0.86 is 24.6% 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 Index International Group PCL and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Index International Group PCL's current Cyclically Adjusted PB Ratio is 0.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Index International Group PCL stock overvalued right now?
Based on GuruFocus' analysis, Index International Group PCL (BKK:IND) is currently considered Modestly Undervalued. The stock's GF Value™ is ฿1.14, compared to a current price of ฿0.84 — trading 26.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.86 and 24.6% below the Construction industry median of 1.14. Index International Group PCL's overall GF Score™ is 85/100 with 5 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 Index International Group PCL (BKK:IND), the current Cyclically Adjusted PB Ratio is 0.86 as of Sep. 17, 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 Index International Group PCL (BKK:IND) Overvalued in 2026?
Based on GuruFocus' analysis, Index International Group PCL stock appears to be undervalued.
The current stock price of ฿0.84 is trading 26.3% below its estimated GF Value™ of ฿1.14.
GuruFocus considers Index International Group PCL to be Modestly Undervalued.
Key valuation signals for BKK:IND:
Cyclically Adjusted PB Ratio: 0.86
GF Value™: ฿1.14 vs. price of ฿0.84 (26.3% below fair value)
Industry Position: 24.6% below the Construction median (#999999 of 1239)
No single metric tells the full story. See the BKK:IND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Index International Group PCL is an engineering consultancy firm offering detailed design services, project management services, and detailed design construction. Its services include a wide range of services in specialized fields such as project planning, city, and district planning, architectural design involving landscaping and architecture, and engineering design involving structural, electrical, mechanical, transportation, sanitary, geotechnical, environmental, and water resources engineering. The group operates in Thailand.
85GF Score
Get the complete analysis for BKK:IND
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:IND has been successfully added to your 
