CKHGF (Capitec) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.

CKHGF Capitec Ltd CKHGF
69 GF Score
Price $283.83
GF Value $153.37
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Capitec Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Capitec  (OTCPK:CKHGF) 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.


Capitec Cyclically Adjusted PB Ratio Related Terms


Capitec Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Capitec'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.

Capitec Cyclically Adjusted PB Ratio Chart

Capitec Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.82 6.95 5.76 8.84 7.76

Capitec Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 5.98 5.73 9.19 8.70 8.18

CKHGF vs USB, PNC: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, Capitec'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.


Capitec Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Capitec's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CKHGF
69GF Score
Capitec Ltd CKHGF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Capitec 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.

Capitec's Cyclically Adjusted Book per Share for the fiscal year that ended in Feb26 is calculated as:

For example, Capitec's adjusted Book Value per Share data for the fiscal year that ended in Feb26 was:

Adj_Book=Book Value per Share/CPI of Feb26 (Change)*Current CPI (Feb26)
=32.253/163.8300*163.8300
=32.253

Current CPI (Feb26) = 163.8300.

Capitec Annual Data

Book Value per Share CPI Adj_Book
201702 10.557 110.855 15.602
201802 13.759 115.106 19.583
201902 13.283 119.793 18.166
202002 14.023 125.243 18.343
202102 17.050 128.817 21.684
202202 19.989 136.109 24.060
202302 17.819 146.101 19.981
202402 19.575 154.225 20.794
202502 23.649 159.099 24.352
202602 32.253 163.830 32.253

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 Capitec (CKHGF) Overvalued in 2026?

Based on GuruFocus' analysis, Capitec stock appears to be overvalued. The current stock price of $283.83 is trading 85.1% above its estimated GF Value™ of $153.37. GuruFocus considers Capitec to be Significantly Overvalued.

Key valuation signals for CKHGF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $153.37 vs. price of $283.83 (85.1% above fair value)
  • GF Score™: 69/100 with 1 warning sign

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


Capitec Business Description

Address 5 Neutron Road, Techno Park, Stellenbosch, WC, ZAF, 7600
Capitec Bank Holdings Ltd is a bank holding company along with its subsidiary, which conducts personal and business banking, online consumer lending, rental financing, holds an insurance cell captive, and has an insurance licence for life products. Its segments are Personal Banking, Business Banking, and the Insurance business.
69GF Score

Get the complete analysis for CKHGF

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

$283.83
Price
$153.37
GF Value