S & P Syndicate PCL (BKK:SNP) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.
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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:SNP S & P Syndicate PCL BKK:SNP
67 GF Score
Price ฿8.65
GF Value ฿9.80
Valuation Modestly Undervalued
! 4 Warning Signs
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What is S & P Syndicate PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


S & P Syndicate PCL  (BKK:SNP) 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.


S & P Syndicate PCL Cyclically Adjusted PB Ratio Related Terms


S & P Syndicate PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for S & P Syndicate 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.

S & P Syndicate PCL Cyclically Adjusted PB Ratio Chart

S & P Syndicate 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 2.85 3.08 2.74 1.83 1.60

S & P Syndicate 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 1.63 1.65 1.64 1.49 1.47

BKK:SNP vs MCD, SBUX, CMG: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, S & P Syndicate 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.


S & P Syndicate PCL Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, S & P Syndicate PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where S & P Syndicate PCL's Cyclically Adjusted PB Ratio falls into.


BKK:SNP
67GF Score
S & P Syndicate PCL BKK:SNP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

S & P Syndicate 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.

S & P Syndicate PCL's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, S & P Syndicate 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)
=4.715/333.9520*333.9520
=4.715

Current CPI (Jun. 2026) = 333.9520.

S & P Syndicate PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.759 241.428 6.583
201612 4.936 241.432 6.828
201703 5.121 243.801 7.015
201706 4.560 244.955 6.217
201709 4.771 246.819 6.455
201712 5.352 246.524 7.250
201803 5.502 249.554 7.363
201806 4.872 251.989 6.457
201809 5.099 252.439 6.745
201812 5.280 251.233 7.018
201903 5.435 254.202 7.140
201906 4.783 256.143 6.236
201909 5.003 256.759 6.507
201912 5.171 256.974 6.720
202003 5.019 258.115 6.494
202006 4.377 257.797 5.670
202009 4.656 260.280 5.974
202012 4.885 260.474 6.263
202103 5.050 264.877 6.367
202106 4.894 271.696 6.015
202109 5.051 274.310 6.149
202112 5.114 278.802 6.126
202203 5.281 287.504 6.134
202206 4.860 296.311 5.477
202209 5.081 296.808 5.717
202212 5.361 296.797 6.032
202303 5.565 301.836 6.157
202306 5.056 305.109 5.534
202309 5.123 307.789 5.558
202312 5.363 306.746 5.839
202403 5.545 312.332 5.929
202406 4.962 314.175 5.274
202409 5.079 315.301 5.379
202412 5.322 315.605 5.631
202503 5.392 319.799 5.631
202506 4.743 322.561 4.910
202509 4.847 324.800 4.984
202512 5.053 324.054 5.207
202603 5.136 330.213 5.194
202606 4.715 333.952 4.715

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 S & P Syndicate PCL (BKK:SNP) Overvalued in 2026?

Based on GuruFocus' analysis, S & P Syndicate PCL stock appears to be undervalued. The current stock price of ฿8.65 is trading 11.7% below its estimated GF Value™ of ฿9.80. GuruFocus considers S & P Syndicate PCL to be Modestly Undervalued.

Key valuation signals for BKK:SNP:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ฿9.80 vs. price of ฿8.65 (11.7% below fair value)
  • GF Score™: 67/100 with 4 warning signs

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


S & P Syndicate PCL Business Description

Address New Petchburi Road, No 2034/100-103, 23 Floor, Italthai Tower, Bangkapi, Huaykwang, Bangkok, THA, 10310
S & P Syndicate PCL is engaged in the operations of a nationwide and international chain of restaurants and bakery shops, the production of bakery, frozen foods and other food products and food service-related businesses such as outside catering. Its products under Bakery include Pound Cake, Packaged Cake, Frozen Cake, Pastry, Sandwich and Bread, Cookies, Moon Cake, Thai Dessert, and Snack; Food Product include Thai Food, Frozen Quick Meal, Jelio Jelly, International Food, and Healthy Food; and Beverage Product include Coffee and Tea Bluecup, Drink Bottled Beverages, Fruit Juice, Fruit Juice (UHT), and Smoothie. Its segments include Domestic restaurants and bakery shops, Domestic Packaged food and bakery trading business, Overseas restaurants, and Others.
67GF Score

Get the complete analysis for BKK:SNP

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

฿8.65
Price
฿9.80
GF Value