Firstsource Solutions (BOM:532809) Cyclically Adjusted PB Ratio: (As of Aug. 28, 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.

BOM:532809 Firstsource Solutions Ltd BOM:532809
94 GF Score
Price ₹268.55
GF Value ₹386.72
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Firstsource Solutions Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Firstsource Solutions  (BOM:532809) 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.


Firstsource Solutions Cyclically Adjusted PB Ratio Related Terms


Firstsource Solutions Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Firstsource Solutions'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.

Firstsource Solutions Cyclically Adjusted PB Ratio Chart

Firstsource Solutions 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 2.96 2.32 4.13 6.76 3.78

Firstsource Solutions 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 6.27 0.00 3.78 0.00

BOM:532809 vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Firstsource Solutions'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.


Firstsource Solutions Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Firstsource Solutions's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Firstsource Solutions's Cyclically Adjusted PB Ratio falls into.


BOM:532809
94GF Score
Firstsource Solutions Ltd BOM:532809
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Firstsource Solutions 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.

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

For example, Firstsource Solutions'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.

Firstsource Solutions Quarterly Data

Book Value per Share CPI Adj_Book
201609 28.221 105.961 44.573
201612 0.000 105.196 0.000
201703 29.766 105.196 47.355
201706 0.000 107.109 0.000
201709 31.702 109.021 48.665
201712 0.000 109.404 0.000
201803 34.256 109.786 52.220
201806 0.000 111.317 0.000
201809 36.242 115.142 52.677
201812 0.000 115.142 0.000
201903 39.370 118.202 55.742
201906 0.000 120.880 0.000
201909 39.070 123.175 53.084
201912 0.000 126.235 0.000
202003 39.857 124.705 53.489
202006 0.000 127.000 0.000
202009 41.495 130.118 53.371
202012 0.000 130.889 0.000
202103 40.214 131.771 51.074
202106 0.000 134.084 0.000
202109 42.621 135.847 52.507
202112 0.000 138.161 0.000
202203 44.603 138.822 53.771
202206 0.000 142.347 0.000
202209 48.346 144.661 55.931
202212 0.000 145.763 0.000
202303 49.411 146.865 56.306
202306 0.000 150.280 0.000
202309 53.726 151.492 59.353
202312 0.000 152.924 0.000
202403 53.815 153.035 58.852
202406 0.000 155.789 0.000
202409 56.569 157.882 59.964
202412 0.000 158.323 0.000
202503 59.527 157.552 63.232
202506 0.000 159.755 0.000
202509 63.193 162.289 65.166
202512 0.000 163.281 0.000
202603 63.511 164.272 64.704
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 Firstsource Solutions (BOM:532809) Overvalued in 2026?

Based on GuruFocus' analysis, Firstsource Solutions stock appears to be undervalued. The current stock price of ₹268.55 is trading 30.6% below its estimated GF Value™ of ₹386.72. GuruFocus considers Firstsource Solutions to be Significantly Undervalued.

Key valuation signals for BOM:532809:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹386.72 vs. price of ₹268.55 (30.6% below fair value)
  • GF Score™: 94/100 with 2 warning signs

No single metric tells the full story. See the BOM:532809 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Firstsource Solutions Business Description

Other Exchanges FSL:India
Address Mindspace, Link Road, 5th Floor, Paradigm ‘B’ Wing, Malad (West), Mumbai, MH, IND, 400 064
Firstsource Solutions Ltd is engaged in the business of providing customer management services like contact centers, transaction processing, and debt collection services. The company's business segment includes Banking and Financial Services, Healthcare, Communication, Media and Technology, and Diverse Industries. It generates maximum revenue from the Banking and Financial Services segment. Geographically, it derives a majority of its revenue from the United States of America.
94GF Score

Get the complete analysis for BOM:532809

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

₹268.55
Price
₹386.72
GF Value