BTSGY (BTS Group Holdings) Cyclically Adjusted PB Ratio: 0.46 (As of Jul. 22, 2026) — 75% Below Median

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BTSGY BTS Group Holdings PLC BTSGY
50 GF Score
Price $16.50
GF Value $39.95
! 5 Warning Signs
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What is BTS Group Holdings Cyclically Adjusted PB Ratio?

BTS Group Holdings BTSGY 50 Cyclically Adjusted PB Ratio is 0.46 as of Jul. 22, 2026, which is 75% below its 10-year median of 1.82. GuruFocus rates BTSGY with a GF Score™ of 50/100 and a GF Value™ of $39.95. The stock has 5 warning signs investors should review. Among 738 Transportation companies, BTS Group Holdings ranks better than 85.77% on this metric.

As of today (2026-07-22), BTS Group Holdings's current share price is $16.50. BTS Group Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $35.75. BTS Group Holdings's Cyclically Adjusted PB Ratio for today is 0.46.

The historical rank and industry rank for BTS Group Holdings's Cyclically Adjusted PB Ratio or its related term are showing as below:

BTSGY' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.43   Med: 1.82   Max: 3
Current: 0.46

During the past years, BTS Group Holdings's highest Cyclically Adjusted PB Ratio was 3.00. The lowest was 0.43. And the median was 1.82.

BTSGY's Cyclically Adjusted PB Ratio is ranked better than
85.77% of 738 companies
in the Transportation industry
Industry Median: 1.245 vs BTSGY: 0.46

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.

BTS Group Holdings's adjusted book value per share data for the three months ended in Mar. 2026 was $11.246. 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 $35.75 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


BTS Group Holdings  (OTCPK:BTSGY) 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.


BTS Group Holdings Cyclically Adjusted PB Ratio Related Terms


BTS Group Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for BTS Group Holdings'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.

BTS Group Holdings Cyclically Adjusted PB Ratio Chart

BTS Group Holdings 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 1.91 1.42 1.16 1.09 0.46

BTS Group Holdings 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 1.09 0.76 0.65 0.49 0.46

BTSGY vs UNP, CSX, NSC: Cyclically Adjusted PB Ratio Comparison

For the Railroads subindustry, BTS Group Holdings'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.


BTS Group Holdings Cyclically Adjusted PB Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, BTS Group Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


BTSGY
50GF Score
BTS Group Holdings PLC BTSGY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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BTS Group Holdings 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.

BTS Group Holdings's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=16.50/35.75
=0.46

* 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.

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

For example, BTS Group Holdings'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)
=11.246/330.2130*330.2130
=11.246

Current CPI (Mar. 2026) = 330.2130.

BTS Group Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201606 11.106 241.018 15.216
201609 10.663 241.428 14.584
201612 10.412 241.432 14.241
201703 10.208 243.801 13.826
201706 10.579 244.955 14.261
201709 10.506 246.819 14.056
201712 10.663 246.524 14.283
201803 10.968 249.554 14.513
201806 10.564 251.989 13.843
201809 10.225 252.439 13.375
201812 10.375 251.233 13.637
201903 10.307 254.202 13.389
201906 13.643 256.143 17.588
201909 13.161 256.759 16.926
201912 14.328 256.974 18.412
202003 13.009 258.115 16.643
202006 12.518 257.797 16.034
202009 12.368 260.280 15.691
202012 14.659 260.474 18.584
202103 14.844 264.877 18.506
202106 14.620 271.696 17.769
202109 13.695 274.310 16.486
202112 14.040 278.802 16.629
202203 13.766 287.504 15.811
202206 13.640 296.311 15.201
202209 12.546 296.808 13.958
202212 13.437 296.797 14.950
202303 12.356 301.836 13.518
202306 11.803 305.109 12.774
202309 11.310 307.789 12.134
202312 10.191 306.746 10.971
202403 9.779 312.332 10.339
202406 9.433 314.175 9.915
202409 10.254 315.301 10.739
202412 10.836 315.605 11.338
202503 10.697 319.799 11.045
202506 10.771 322.561 11.027
202509 11.197 324.800 11.384
202512 11.277 324.054 11.491
202603 11.246 330.213 11.246

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.

What does a Cyclically Adjusted PB Ratio of 0.46 mean?
BTS Group Holdings (BTSGY) has a Cyclically Adjusted PB Ratio of 0.46 as of Jul. 22, 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 BTS Group Holdings and its competitors. This is 75% below median its historical median of 1.82. Over the past decade, BTS Group Holdings' Cyclically Adjusted PB Ratio has ranged from 0.43 to 3.00. According to the industry distribution chart, BTS Group Holdings ranks #105 out of 738 companies in the Transportation industry, placing it in the top 14.2%.
Is BTS Group Holdings' Cyclically Adjusted PB Ratio too high?
BTS Group Holdings' current Cyclically Adjusted PB Ratio of 0.46 is 75% below median its 10-year median of 1.82. Over the past 10 years, this metric has ranged from a low of 0.43 to a high of 3.00. The Transportation industry median Cyclically Adjusted PB Ratio is 1.25. BTS Group Holdings' value of 0.46 is 63.1% below this industry median. Based on the distribution chart, BTS Group Holdings ranks #105 out of 738 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, BTS Group Holdings has a GF Score™ of 50/100, reflecting its overall financial health beyond just this single metric.
How does BTS Group Holdings' Cyclically Adjusted PB Ratio compare to UNP and CSX?
According to the Transportation industry distribution chart, BTS Group Holdings ranks #105 out of 738 companies for Cyclically Adjusted PB Ratio. This places BTS Group Holdings in the top 14% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.25. BTS Group Holdings' value of 0.46 is 63.1% below this benchmark. Historically, BTS Group Holdings' own Cyclically Adjusted PB Ratio has ranged from 0.43 to 3.00 over the past decade. While the company's 10-year median is 1.82 vs. the industry median of 1.25, BTS Group Holdings 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 Transportation company?
The median Cyclically Adjusted PB Ratio among Transportation companies is 1.25, based on 738 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. BTS Group Holdings's current Cyclically Adjusted PB Ratio of 0.46 is 63.1% 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 BTS Group Holdings and its competitors. For the Transportation industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BTS Group Holdings's current Cyclically Adjusted PB Ratio is 0.46, which is 75% below median its own 10-year median of 1.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BTS Group Holdings stock overvalued right now?
BTS Group Holdings (BTSGY) has a current Cyclically Adjusted PB Ratio of 0.46. The stock's GF Value™ is $39.95, compared to a current price of $16.50 — trading 58.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.46, which is 75% below median its 10-year median of 1.82 and 63.1% below the Transportation industry median of 1.25. BTS Group Holdings' overall GF Score™ is 50/100 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 BTS Group Holdings (BTSGY), the current Cyclically Adjusted PB Ratio is 0.46 as of Jul. 22, 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 BTS Group Holdings (BTSGY) Overvalued in 2026?

Based on GuruFocus' analysis, BTS Group Holdings stock appears to be undervalued. The current stock price of $16.50 is trading 58.7% below its estimated GF Value™ of $39.95.

Key valuation signals for BTSGY:

  • Cyclically Adjusted PB Ratio: 0.46 (75% below median its 10-year median of 1.82)
  • GF Value™: $39.95 vs. price of $16.50 (58.7% below fair value)
  • GF Score™: 50/100 with 5 warning signs
  • Industry Position: 63.1% below the Transportation median (#105 of 738)

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


BTS Group Holdings Business Description

Other Exchanges BTS:Thailand
Address Phahonyothin Road, 1000/9 BTS Visionary Park, South Tower, 33rd Floor, Chomphon Sub-district, Chatuchak District, Bangkok, THA, 10900
BTS Group Holdings PLC is principally engaged in the provision of transportation (Move), comprehensive marketing (Mix), and the capture of opportunities and creation of synergies through a shared system platform (Match). The group's reportable segments are MOVE, MIX, and MATCH. The majority of its revenue is generated from the MOVE segment, which provides mass transportation services for rail and other modes. This segment generates revenue through farebox collection, operating and maintenance, elevated rail's installation and construction, train procurement, and other related services, as well as the operation and maintenance of the Bus Rapid Transit and Automated People Mover (APM) systems. Geographically, the group generates maximum revenue from Thailand.
50GF Score

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

$16.50
Price
$39.95
GF Value