Triton Holding PCL (BKK:TRITN) Cyclically Adjusted PB Ratio: 0.20 (As of Sep. 12, 2026) — 84% Below Median

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.

What is Triton Holding PCL Cyclically Adjusted PB Ratio?

Triton Holding PCL BKK:TRITN +50.00% Cyclically Adjusted PB Ratio is 0.20 as of Sep. 12, 2026, which is 84% below its 10-year median of 1.27. The stock has 5 warning signs investors should review. Among 1,239 Construction companies, Triton Holding PCL ranks better than 94.03% on this metric.

As of today (2026-09-12), Triton Holding PCL's current share price is ฿0.03. Triton Holding PCL's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was ฿0.15. Triton Holding PCL's Cyclically Adjusted PB Ratio for today is 0.20.

The historical rank and industry rank for Triton Holding PCL's Cyclically Adjusted PB Ratio or its related term are showing as below:

BKK:TRITN' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.13   Med: 1.27   Max: 4.09
Current: 0.19

During the past years, Triton Holding PCL's highest Cyclically Adjusted PB Ratio was 4.09. The lowest was 0.13. And the median was 1.27.

BKK:TRITN's Cyclically Adjusted PB Ratio is ranked better than
94.03% of 1239 companies
in the Construction industry
Industry Median: 1.16 vs BKK:TRITN: 0.19

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Triton Holding PCL's adjusted book value per share data for the three months ended in Jun. 2026 was ฿0.100. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ฿0.15 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Triton Holding PCL  (BKK:TRITN) 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.


Triton Holding PCL Cyclically Adjusted PB Ratio Related Terms


Triton Holding PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Triton Holding 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.

Triton Holding PCL Cyclically Adjusted PB Ratio Chart

Triton Holding 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 1.69 1.12 0.79 0.68 0.19

Triton Holding 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 0.25 0.19 0.19 0.19 0.19

BKK:TRITN vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Triton Holding 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.


Triton Holding PCL Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Triton Holding PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Triton Holding 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.

Triton Holding PCL's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.03/0.15
=0.20

* 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.

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

For example, Triton Holding 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)
=0.1/333.9520*333.9520
=0.100

Current CPI (Jun. 2026) = 333.9520.

Triton Holding PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.152 241.428 0.210
201612 0.117 241.432 0.162
201703 0.114 243.801 0.156
201706 0.113 244.955 0.154
201709 0.111 246.819 0.150
201712 0.111 246.524 0.150
201803 0.113 249.554 0.151
201806 0.116 251.989 0.154
201809 0.123 252.439 0.163
201812 0.125 251.233 0.166
201903 0.127 254.202 0.167
201906 0.127 256.143 0.166
201909 0.160 256.759 0.208
201912 0.164 256.974 0.213
202003 0.164 258.115 0.212
202006 0.172 257.797 0.223
202009 0.176 260.280 0.226
202012 0.173 260.474 0.222
202103 0.170 264.877 0.214
202106 0.180 271.696 0.221
202109 0.174 274.310 0.212
202112 0.146 278.802 0.175
202203 0.148 287.504 0.172
202206 0.148 296.311 0.167
202209 0.144 296.808 0.162
202212 0.136 296.797 0.153
202303 0.133 301.836 0.147
202306 0.128 305.109 0.140
202309 0.120 307.789 0.130
202312 0.109 306.746 0.119
202403 0.106 312.332 0.113
202406 0.072 314.175 0.077
202409 0.061 315.301 0.065
202412 0.081 315.605 0.086
202503 0.053 319.799 0.055
202506 0.102 322.561 0.106
202509 0.102 324.800 0.105
202512 0.101 324.054 0.104
202603 0.100 330.213 0.101
202606 0.100 333.952 0.100

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.

What does a Cyclically Adjusted PB Ratio of 0.20 mean?
Triton Holding PCL (BKK:TRITN) has a Cyclically Adjusted PB Ratio of 0.20 as of Sep. 12, 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 Triton Holding PCL and its competitors. This is 84% below median its historical median of 1.27. Over the past decade, Triton Holding PCL's Cyclically Adjusted PB Ratio has ranged from 0.13 to 4.09. According to the industry distribution chart, Triton Holding PCL ranks #74 out of 1239 companies in the Construction industry, placing it in the top 6%.
Is Triton Holding PCL's Cyclically Adjusted PB Ratio too high?
Triton Holding PCL's current Cyclically Adjusted PB Ratio of 0.20 is 84% below median its 10-year median of 1.27. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 4.09. The Construction industry median Cyclically Adjusted PB Ratio is 1.16. Triton Holding PCL's value of 0.20 is 82.8% below this industry median. Based on the distribution chart, Triton Holding PCL ranks #74 out of 1239 companies in the Construction industry, which is in the top quartile — a strong position relative to peers.
How does Triton Holding PCL's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, Triton Holding PCL ranks #74 out of 1239 companies for Cyclically Adjusted PB Ratio. This places Triton Holding PCL in the top 6% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.16. Triton Holding PCL's value of 0.20 is 82.8% below this benchmark. Historically, Triton Holding PCL's own Cyclically Adjusted PB Ratio has ranged from 0.13 to 4.09 over the past decade. While the company's 10-year median is 1.27 vs. the industry median of 1.16, Triton Holding PCL has consistently been below the industry average. 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 1.16, 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. Triton Holding PCL's current Cyclically Adjusted PB Ratio of 0.20 is 82.8% 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 Triton Holding PCL and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Triton Holding PCL's current Cyclically Adjusted PB Ratio is 0.20, which is 84% below median its own 10-year median of 1.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Triton Holding PCL stock overvalued right now?
Based on GuruFocus' analysis, Triton Holding PCL (BKK:TRITN) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿0.01, compared to a current price of ฿0.03 — trading 200% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.20, which is 84% below median its 10-year median of 1.27 and 82.8% below the Construction industry median of 1.16. 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 Triton Holding PCL (BKK:TRITN), the current Cyclically Adjusted PB Ratio is 0.20 as of Sep. 12, 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.

Triton Holding PCL Business Description

Address Praditmanutham Road, 60 Soi Praditmanutham 19, Kwang Ladprao, Khet Ladprao, Bangkok, THA, 10230
Triton Holding PCL is a Thailand-based investment holding company. Along with its subsidiaries, it is mainly engaged in construction and engineering, offering design commissioning of electrification, electricity generation, and soap distribution business. The group has two reportable segments: constructions business and energy business. The majority of its revenue is generated from the energy business. Geographically, it operates principally in Thailand.