Siam Steel International PCL (BKK:SIAM) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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:SIAM Siam Steel International PCL BKK:SIAM
41 GF Score
Price ฿0.90
GF Value ฿0.63
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Siam Steel International PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Siam Steel International PCL  (BKK:SIAM) 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.


Siam Steel International PCL Cyclically Adjusted PB Ratio Related Terms


Siam Steel International PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Siam Steel International 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.

Siam Steel International PCL Cyclically Adjusted PB Ratio Chart

Siam Steel International 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 - - - 0.19 0.13

Siam Steel International 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 0.13 0.17 0.13 0.13 0.14

BKK:SIAM vs SN, SGI, MHK: Cyclically Adjusted PB Ratio Comparison

For the Furnishings, Fixtures & Appliances subindustry, Siam Steel International 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.


Siam Steel International PCL Cyclically Adjusted PB Ratio vs Furnishings, Fixtures & Appliances Industry

For the Furnishings, Fixtures & Appliances industry and Consumer Cyclical sector, Siam Steel International PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Siam Steel International PCL's Cyclically Adjusted PB Ratio falls into.


BKK:SIAM
41GF Score
Siam Steel International PCL BKK:SIAM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Siam Steel International 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.

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

For example, Siam Steel International 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)
=4.664/333.9520*333.9520
=4.664

Current CPI (Jun. 2026) = 333.9520.

Siam Steel International PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 241.428 0.000
201612 4.180 241.432 5.782
201703 4.194 243.801 5.745
201706 4.102 244.955 5.592
201709 4.048 246.819 5.477
201712 4.575 246.524 6.197
201803 4.341 249.554 5.809
201806 4.377 251.989 5.801
201809 4.409 252.439 5.833
201812 4.724 251.233 6.279
201903 4.778 254.202 6.277
201906 4.803 256.143 6.262
201909 4.862 256.759 6.324
201912 4.762 256.974 6.188
202003 4.739 258.115 6.131
202006 4.773 257.797 6.183
202009 4.642 260.280 5.956
202012 4.834 260.474 6.198
202103 4.848 264.877 6.112
202106 4.768 271.696 5.861
202109 4.783 274.310 5.823
202112 4.793 278.802 5.741
202203 4.824 287.504 5.603
202206 4.767 296.311 5.373
202209 4.763 296.808 5.359
202212 4.709 296.797 5.299
202303 4.730 301.836 5.233
202306 4.737 305.109 5.185
202309 4.772 307.789 5.178
202312 4.739 306.746 5.159
202403 4.682 312.332 5.006
202406 4.570 314.175 4.858
202409 4.586 315.301 4.857
202412 4.590 315.605 4.857
202503 4.586 319.799 4.789
202506 4.608 322.561 4.771
202509 4.624 324.800 4.754
202512 4.627 324.054 4.768
202603 4.651 330.213 4.704
202606 4.664 333.952 4.664

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 Siam Steel International PCL (BKK:SIAM) Overvalued in 2026?

Based on GuruFocus' analysis, Siam Steel International PCL stock appears to be overvalued. The current stock price of ฿0.90 is trading 42.9% above its estimated GF Value™ of ฿0.63. GuruFocus considers Siam Steel International PCL to be Significantly Overvalued.

Key valuation signals for BKK:SIAM:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ฿0.63 vs. price of ฿0.90 (42.9% above fair value)
  • GF Score™: 41/100 with 4 warning signs

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


Siam Steel International PCL Business Description

Other Exchanges SIAM-R:Thailand
Address 51 Moo 2, Poochao Road, Bangyaprak, Phrapradaeng, Samuthprakarn, THA, 10130
Siam Steel International PCL is engaged in the manufacturing and sales of steel office equipment and furniture parts, construction services and alternative energy sector. The company manufactures and sells steel furniture under the brands LUCKY KINGDOM, OKAMURA, CHITOSE, and PILOT, and wooden furniture, including freestanding and built-in products, under the KINGDOM brand. It also provides interior design services for office and residential spaces, and manufactures and sells prefabricated buildings under the LUCKY Hi-Tech Building System brand. Its business segments are manufacturing and sales and of furniture, construction services and alternative energy sector. The majority of the company's revenue is generated from the Furniture segment. Geographically, it operates only in Thailand.
41GF Score

Get the complete analysis for BKK:SIAM

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

฿0.90
Price
฿0.63
GF Value