Property Perfect PCL (BKK:PF) Cyclically Adjusted PB Ratio: (As of Sep. 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.

What is Property Perfect PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Property Perfect PCL  (BKK:PF) 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.


Property Perfect PCL Cyclically Adjusted PB Ratio Related Terms


Property Perfect PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Property Perfect 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.

Property Perfect PCL Cyclically Adjusted PB Ratio Chart

Property Perfect 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 0.31 0.24 0.17 0.08 0.04

Property Perfect PCL 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 0.06 0.06 0.04 0.04 0.02

Property Perfect PCL Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Development subindustry, Property Perfect 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.


Property Perfect PCL Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Property Perfect PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Property Perfect 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.

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

For example, Property Perfect PCL'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)
=0.844/330.2130*330.2130
=0.844

Current CPI (Mar. 2026) = 330.2130.

Property Perfect PCL Quarterly Data

Book Value per Share CPI Adj_Book
201606 1.568 241.018 2.148
201609 1.572 241.428 2.150
201612 1.574 241.432 2.153
201703 1.465 243.801 1.984
201706 1.421 244.955 1.916
201709 1.429 246.819 1.912
201712 1.479 246.524 1.981
201803 1.475 249.554 1.952
201806 1.480 251.989 1.939
201809 1.514 252.439 1.980
201812 1.520 251.233 1.998
201903 1.573 254.202 2.043
201906 1.543 256.143 1.989
201909 1.566 256.759 2.014
201912 1.542 256.974 1.981
202003 1.529 258.115 1.956
202006 1.472 257.797 1.885
202009 1.425 260.280 1.808
202012 1.343 260.474 1.703
202103 1.316 264.877 1.641
202106 1.257 271.696 1.528
202109 1.276 274.310 1.536
202112 1.305 278.802 1.546
202203 1.525 287.504 1.752
202206 1.505 296.311 1.677
202209 1.484 296.808 1.651
202212 1.541 296.797 1.714
202303 1.522 301.836 1.665
202306 1.478 305.109 1.600
202309 1.448 307.789 1.553
202312 1.452 306.746 1.563
202403 1.435 312.332 1.517
202406 1.384 314.175 1.455
202409 1.287 315.301 1.348
202412 1.270 315.605 1.329
202503 1.237 319.799 1.277
202506 1.155 322.561 1.182
202509 1.075 324.800 1.093
202512 0.902 324.054 0.919
202603 0.844 330.213 0.844

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.


Property Perfect PCL Business Description

Address Rama 9 Road, 17th Floor, No. 100/1 Vorasombat Building, Huai Khwang District, Bangkok, THA, 10320
Property Perfect PCL operates in the real estate sector, focusing on developing properties. Its property development portfolio predominantly comprises single detached houses, duplex house, townhouses and condominiums. Additionally, the Group is focused on the development of commercial properties for renting; and hotels with four-five stars, in key locations across Thailand, which are managed by professional and international hotel chains. Its reportable segments are: Property development costs for sale, which generates the maximum revenue, Hotel, and Other. Geographically, the Group operates mainly in Thailand.