Maruti Suzuki India (BOM:532500) Cyclically Adjusted PB Ratio: (As of Aug. 22, 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.
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.

BOM:532500 Maruti Suzuki India Ltd BOM:532500
90 GF Score
Price ₹13,580.00
GF Value ₹16,740.64
Valuation Modestly Undervalued
! 1 Warning Sign
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What is Maruti Suzuki India Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Maruti Suzuki India  (BOM:532500) 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.


Maruti Suzuki India Cyclically Adjusted PB Ratio Related Terms


Maruti Suzuki India Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Maruti Suzuki India'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.

Maruti Suzuki India Cyclically Adjusted PB Ratio Chart

Maruti Suzuki India Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 6.41 5.69

Maruti Suzuki India 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 0.00 8.06 0.00 5.69 0.00

BOM:532500 vs TSLA, GM, F: Cyclically Adjusted PB Ratio Comparison

For the Auto Manufacturers subindustry, Maruti Suzuki India'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.


Maruti Suzuki India Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Maruti Suzuki India's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Maruti Suzuki India's Cyclically Adjusted PB Ratio falls into.


BOM:532500
90GF Score
Maruti Suzuki India Ltd BOM:532500
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Maruti Suzuki India 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.

Maruti Suzuki India's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Maruti Suzuki India'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)
=0/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

Maruti Suzuki India Quarterly Data

Book Value per Share CPI Adj_Book
201203 542.546 76.889 1,180.915
201303 629.893 85.687 1,230.259
201403 711.613 91.425 1,302.639
201503 861.427 97.163 1,483.757
201603 1,013.506 102.518 1,654.511
201703 1,227.327 105.196 1,952.566
201803 1,408.878 109.786 2,147.680
201806 0.000 111.317 0.000
201809 0.000 115.142 0.000
201812 0.000 115.142 0.000
201903 1,558.928 118.202 2,207.220
201906 0.000 120.880 0.000
201909 1,545.024 123.175 2,099.217
201912 0.000 126.235 0.000
202003 1,635.759 124.705 2,195.229
202006 0.000 127.000 0.000
202009 1,620.849 130.118 2,084.732
202012 0.000 130.889 0.000
202103 1,737.970 131.771 2,207.338
202106 0.000 134.084 0.000
202109 1,730.244 135.847 2,131.582
202112 0.000 138.161 0.000
202203 1,831.750 138.822 2,208.275
202206 0.000 142.347 0.000
202209 1,892.906 144.661 2,189.888
202212 0.000 145.763 0.000
202303 2,469.551 146.865 2,814.139
202306 0.000 150.280 0.000
202309 2,178.003 151.492 2,406.099
202312 0.000 152.924 0.000
202403 2,723.765 153.035 2,978.688
202406 0.000 155.789 0.000
202409 2,834.769 157.882 3,004.894
202412 0.000 158.323 0.000
202503 3,061.036 157.552 3,251.547
202506 0.000 159.755 0.000
202509 3,172.482 162.289 3,271.555
202512 0.000 163.281 0.000
202603 3,408.247 164.272 3,472.251
202606 0.000 167.357 0.000

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 Maruti Suzuki India (BOM:532500) Overvalued in 2026?

Based on GuruFocus' analysis, Maruti Suzuki India stock appears to be undervalued. The current stock price of ₹13,580.00 is trading 18.9% below its estimated GF Value™ of ₹16,740.64. GuruFocus considers Maruti Suzuki India to be Modestly Undervalued.

Key valuation signals for BOM:532500:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹16,740.64 vs. price of ₹13,580.00 (18.9% below fair value)
  • GF Score™: 90/100 with 1 warning sign

No single metric tells the full story. See the BOM:532500 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Maruti Suzuki India Business Description

Other Exchanges MARUTI:India
Address 1, Nelson Mandela Road, Vasant Kunj, New Delhi, IND, 110070
Maruti Suzuki India Ltd, a subsidiary of Suzuki Motor Corp. The company is engaged in the manufacturing, purchase, and sale of motor vehicles, components, and spare parts. Its other activities include the facilitation of pre-owned car sales, fleet management, and car financing. The company manufactures various types of passenger vehicles and light commercial vehicles for its customers belonging to different income categories. Some of the vehicles manufactured by it are: WagonR, Dzire, Ertiga, Fronx (SUV), and others. Geographically, the company generates a majority of its revenue from its business in India and also engages in exports of its products to countries like Chile, Saudi Arabia, South Africa, Japan, Mexico, and others.
90GF Score

Get the complete analysis for BOM:532500

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

₹13,580.00
Price
₹16,740.64
GF Value