Mangels Industrial (BSP:MGEL4) Cyclically Adjusted PB Ratio: (As of Aug. 18, 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.

BSP:MGEL4 Mangels Industrial SA BSP:MGEL4
61 GF Score
Price R$5.04
GF Value R$9.61
Valuation Possible Value Trap
! 6 Warning Signs
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What is Mangels Industrial Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Mangels Industrial  (BSP:MGEL4) 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.


Mangels Industrial Cyclically Adjusted PB Ratio Related Terms


Mangels Industrial Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Mangels Industrial'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.

Mangels Industrial Cyclically Adjusted PB Ratio Chart

Mangels Industrial Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
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Mangels Industrial Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 0.00 0.00 0.00

BSP:MGEL4 vs NUE, STLD, RS: Cyclically Adjusted PB Ratio Comparison

For the Steel subindustry, Mangels Industrial'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.


Mangels Industrial Cyclically Adjusted PB Ratio vs Steel Industry

For the Steel industry and Basic Materials sector, Mangels Industrial's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BSP:MGEL4
61GF Score
Mangels Industrial SA BSP:MGEL4
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mangels Industrial 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.

Mangels Industrial's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Mangels Industrial's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=8.796/175.0655*175.0655
=8.796

Current CPI (Mar. 2026) = 175.0655.

Mangels Industrial Quarterly Data

Book Value per Share CPI Adj_Book
201606 -45.842 108.851 -73.728
201609 -47.567 109.986 -75.713
201612 -50.740 110.802 -80.168
201703 -50.919 111.869 -79.684
201706 -53.912 112.115 -84.183
201709 -52.406 112.777 -81.351
201712 -54.945 114.068 -84.327
201803 -55.158 114.868 -84.064
201806 -62.353 117.038 -93.268
201809 -64.054 117.881 -95.127
201812 -63.425 118.340 -93.827
201903 -63.240 120.124 -92.165
201906 -61.683 120.977 -89.261
201909 -65.936 121.292 -95.168
201912 -64.090 123.436 -90.897
202003 -79.797 124.092 -112.576
202006 -84.079 123.557 -119.130
202009 -83.328 125.095 -116.614
202012 -69.312 129.012 -94.054
202103 -71.917 131.660 -95.626
202106 -45.909 133.871 -60.036
202109 -46.973 137.913 -59.627
202112 -43.444 141.992 -53.563
202203 -29.652 146.537 -35.425
202206 -32.826 149.784 -38.367
202209 -32.704 147.800 -38.737
202212 1.249 150.207 1.456
202303 2.416 153.352 2.758
202306 5.550 154.519 6.288
202309 4.074 155.464 4.588
202312 7.086 157.148 7.894
202403 5.840 159.372 6.415
202406 2.715 161.052 2.951
202409 3.997 162.342 4.310
202412 0.096 164.740 0.102
202503 1.611 168.102 1.678
202506 3.596 169.670 3.710
202509 5.353 170.739 5.489
202512 8.122 171.765 8.278
202603 8.796 175.066 8.796

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 Mangels Industrial (BSP:MGEL4) Overvalued in 2026?

Based on GuruFocus' analysis, Mangels Industrial stock appears to be undervalued. The current stock price of R$5.04 is trading 47.6% below its estimated GF Value™ of R$9.61. GuruFocus considers Mangels Industrial to be Possible Value Trap.

Key valuation signals for BSP:MGEL4:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: R$9.61 vs. price of R$5.04 (47.6% below fair value)
  • GF Score™: 61/100 with 6 warning signs

No single metric tells the full story. See the BSP:MGEL4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Mangels Industrial Business Description

Address Rua Verbo Divino 1488, 6th floor, Suite 61A and 64D, Chacara Santo, Antonio, Sao Paulo, SP, BRA, 04719904
Mangels Industrial SA produces, markets, sells and distributes steel and related products. It operates in four segments, Steel, Wheel, Cylinder and Galvanizing. It supplies wheels to the car industry, motorcycles, trucks, buses, appliances, and gas companies; liquefied petroleum gas cylinders; air tanks for heavy vehicles, agricultural machinery, and air compressors; rear axles for light vehicles; and rolls, blanks, and sheets of low carbon and high strength steel for use in motorcycles, electronics and accessories, and hardware components.
61GF Score

Get the complete analysis for BSP:MGEL4

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

R$5.04
Price
R$9.61
GF Value