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BioXcel TherapeuticsBTAI -5.04%8 Cyclically Adjusted PB Ratio is 0.02 as of Jul. 29, 2026, which is 50% below its 10-year median of 0.04. GuruFocus rates BTAI with a GF Score™ of 8/100 and a GF Value™ of $0.66 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 752 Drug Manufacturers companies, BioXcel Therapeutics ranks better than 99.2% on this metric.
The historical rank and industry rank for BioXcel Therapeutics's Cyclically Adjusted PB Ratio or its related term are showing as below:
BTAI'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.02 Med: 0.04 Max: 0.05
Current: 0.02
During the past 10 years, BioXcel Therapeutics's highest Cyclically Adjusted PB Ratio was 0.05. The lowest was 0.02. And the median was 0.04.
BTAI's Cyclically Adjusted PB Ratio is ranked better than 99.2% of 752
companies
in the Drug Manufacturers industry
Industry Median: 1.795
vs BTAI: 0.02
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.
BioXcel Therapeutics's adjusted book value per share data of for the fiscal year that ended in Dec25 was $-4.275. 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 $37.59 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
BioXcel Therapeutics (NAS:BTAI) 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.
BioXcel Therapeutics Cyclically Adjusted PB Ratio Related Terms
BioXcel Therapeutics Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for BioXcel Therapeutics'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.
BioXcel Therapeutics Cyclically Adjusted PB Ratio Chart
BTAI vs MRMD, RMTI, TXMD: Cyclically Adjusted PB Ratio Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, BioXcel Therapeutics'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.
BioXcel Therapeutics Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, BioXcel Therapeutics's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where BioXcel Therapeutics's Cyclically Adjusted PB Ratio falls into.
BioXcel Therapeutics 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.
* 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.
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 0.02 mean?
BioXcel Therapeutics (BTAI) has a Cyclically Adjusted PB Ratio of 0.02 as of Jul. 29, 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 BioXcel Therapeutics and its competitors. This is 50% below median its historical median of 0.04. Over the past decade, BioXcel Therapeutics' Cyclically Adjusted PB Ratio has ranged from 0.02 to 0.05. According to the industry distribution chart, BioXcel Therapeutics ranks #6 out of 752 companies in the Drug Manufacturers industry, placing it in the top 0.8%.
Is BioXcel Therapeutics' Cyclically Adjusted PB Ratio too high?
BioXcel Therapeutics' current Cyclically Adjusted PB Ratio of 0.02 is 50% below median its 10-year median of 0.04. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.05. The Drug Manufacturers industry median Cyclically Adjusted PB Ratio is 1.80. BioXcel Therapeutics' value of 0.02 is 98.9% below this industry median. Based on the distribution chart, BioXcel Therapeutics ranks #6 out of 752 companies in the Drug Manufacturers industry, which is in the top quartile — a strong position relative to peers. Overall, BioXcel Therapeutics has a GF Score™ of 8/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BioXcel Therapeutics' Cyclically Adjusted PB Ratio compare to MRMD and RMTI?
According to the Drug Manufacturers industry distribution chart, BioXcel Therapeutics ranks #6 out of 752 companies for Cyclically Adjusted PB Ratio. This places BioXcel Therapeutics in the top 1% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.80. BioXcel Therapeutics' value of 0.02 is 98.9% below this benchmark. Historically, BioXcel Therapeutics' own Cyclically Adjusted PB Ratio has ranged from 0.02 to 0.05 over the past decade. While the company's 10-year median is 0.04 vs. the industry median of 1.80, BioXcel Therapeutics 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 Drug Manufacturers company?
The median Cyclically Adjusted PB Ratio among Drug Manufacturers companies is 1.80, based on 752 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. BioXcel Therapeutics's current Cyclically Adjusted PB Ratio of 0.02 is 98.9% 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 BioXcel Therapeutics and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted PB Ratio is 1.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BioXcel Therapeutics's current Cyclically Adjusted PB Ratio is 0.02, which is 50% below median its own 10-year median of 0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BioXcel Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, BioXcel Therapeutics (BTAI) is currently considered Modestly Overvalued. The stock's GF Value™ is $0.66, compared to a current price of $0.80 — trading 21.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.02, which is 50% below median its 10-year median of 0.04 and 98.9% below the Drug Manufacturers industry median of 1.80. BioXcel Therapeutics' overall GF Score™ is 8/100 with 5 warning signs to review. 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 BioXcel Therapeutics (BTAI), the current Cyclically Adjusted PB Ratio is 0.02 as of Jul. 29, 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.
Is BioXcel Therapeutics (BTAI) Overvalued in 2026?
Based on GuruFocus' analysis, BioXcel Therapeutics stock appears to be overvalued.
The current stock price of $0.80 is trading 21.6% above its estimated GF Value™ of $0.66.
GuruFocus considers BioXcel Therapeutics to be Modestly Overvalued.
Key valuation signals for BTAI:
Cyclically Adjusted PB Ratio: 0.02 (50% below median its 10-year median of 0.04)
GF Value™: $0.66 vs. price of $0.80 (21.6% above fair value)
Industry Position: 98.9% below the Drug Manufacturers median (#6 of 752)
No single metric tells the full story. See the BTAI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BioXcel Therapeutics Inc is a clinical-stage biopharmaceutical company. The company is focused on drug development utilizing novel artificial intelligence (AI) to identify the next wave of medicines across neuroscience and immuno-oncology. The pipeline products of the company are-BXCL501, being evaluated as a potential treatment for agitation associated with multiple neurological disorders and BXCL701, an investigational oral innate immune activator for the treatment of aggressive forms of prostate cancer and other solid and liquid tumors. The company's commercial product, IGALMI (developed as BXCL501) is a proprietary, sublingual film formulation of dexmedetomidine approved by the FDA for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.
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