Vanachai Group PCL (BKK:VNG-F) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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BKK:VNG-F Vanachai Group PCL BKK:VNG-F
64 GF Score
Price ฿12.63
GF Value ฿13.33
! 7 Warning Signs
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What is Vanachai Group PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Vanachai Group PCL  (BKK:VNG-F) 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.


Vanachai Group PCL Cyclically Adjusted PB Ratio Related Terms


Vanachai Group PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Vanachai Group 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.

Vanachai Group PCL Cyclically Adjusted PB Ratio Chart

Vanachai Group 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 2.50 2.39 2.35 2.35 2.40

Vanachai Group 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 2.32 2.33 2.37 2.36 2.37

BKK:VNG-F vs SSD, UFPI, BCC: Cyclically Adjusted PB Ratio Comparison

For the Lumber & Wood Production subindustry, Vanachai 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.


Vanachai Group PCL Cyclically Adjusted PB Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Vanachai Group PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BKK:VNG-F
64GF Score
Vanachai Group PCL BKK:VNG-F
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Vanachai 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.

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

For example, Vanachai Group 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)
=3.647/333.9520*333.9520
=3.647

Current CPI (Jun. 2026) = 333.9520.

Vanachai Group PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 5.057 241.428 6.995
201612 5.312 241.432 7.348
201703 5.482 243.801 7.509
201706 5.376 244.955 7.329
201709 5.426 246.819 7.342
201712 5.515 246.524 7.471
201803 5.404 249.554 7.232
201806 5.113 251.989 6.776
201809 4.983 252.439 6.592
201812 4.887 251.233 6.496
201903 4.740 254.202 6.227
201906 4.423 256.143 5.767
201909 4.231 256.759 5.503
201912 3.984 256.974 5.177
202003 3.865 258.115 5.001
202006 3.842 257.797 4.977
202009 3.722 260.280 4.776
202012 3.617 260.474 4.637
202103 3.691 264.877 4.654
202106 3.889 271.696 4.780
202109 4.077 274.310 4.963
202112 4.271 278.802 5.116
202203 4.466 287.504 5.188
202206 4.378 296.311 4.934
202209 4.395 296.808 4.945
202212 4.304 296.797 4.843
202303 4.163 301.836 4.606
202306 4.103 305.109 4.491
202309 4.160 307.789 4.514
202312 4.227 306.746 4.602
202403 4.271 312.332 4.567
202406 4.371 314.175 4.646
202409 4.421 315.301 4.683
202412 4.291 315.605 4.540
202503 4.268 319.799 4.457
202506 4.198 322.561 4.346
202509 4.103 324.800 4.219
202512 3.876 324.054 3.994
202603 3.733 330.213 3.775
202606 3.647 333.952 3.647

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 Vanachai Group PCL (BKK:VNG-F) Overvalued in 2026?

Based on GuruFocus' analysis, Vanachai Group PCL stock appears to be undervalued. The current stock price of ฿12.63 is trading 5.2% below its estimated GF Value™ of ฿13.33.

Key valuation signals for BKK:VNG-F:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ฿13.33 vs. price of ฿12.63 (5.2% below fair value)
  • GF Score™: 64/100 with 7 warning signs

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


Vanachai Group PCL Business Description

Other Exchanges VNG:Thailand
Address 2/1 Wongsawang Road, Wongsawang, Bangsue District, Bangkok, THA, 10800
Vanachai Group PCL is a Thailand-based company. The principal activities of the company and its subsidiaries involve the production and distribution of wood plates, MDF boards, Particle boards, Doorskin, and Malamine on wood plates. The company creates wood-based goods such as particleboards, medium-density fiberboards (MDF boards), Doorskin, and melamine laminated particleboards, which are distributed to both domestic and international markets. It also sells finished products that include melamine doors, door frames, resins, formaldehyde adhesives, and finished flooring. The company generates the vast majority of its revenue in Thailand.
64GF Score

Get the complete analysis for BKK:VNG-F

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

฿12.63
Price
฿13.33
GF Value