CRWOF (China Railway Group) Cyclically Adjusted PB Ratio: 0.39 (As of Jul. 25, 2026) — 56% Below Median

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.

CRWOF China Railway Group Ltd CRWOF
42 GF Score
Price $0.44
GF Value $0.54
Valuation Modestly Undervalued
! 10 Warning Signs
View Full Analysis

What is China Railway Group Cyclically Adjusted PB Ratio?

China Railway Group CRWOF 42 Cyclically Adjusted PB Ratio is 0.39 as of Jul. 25, 2026, which is 56% below its 10-year median of 0.89. GuruFocus rates CRWOF with a GF Score™ of 42/100 and a GF Value™ of $0.54 (Modestly Undervalued). The stock has 10 warning signs investors should review. Among 1,363 Construction companies, China Railway Group ranks better than 82.39% on this metric.

As of today (2026-07-25), China Railway Group's current share price is $0.44225. China Railway Group's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $1.13. China Railway Group's Cyclically Adjusted PB Ratio for today is 0.39.

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

CRWOF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.37   Med: 0.89   Max: 2.5
Current: 0.41

During the past years, China Railway Group's highest Cyclically Adjusted PB Ratio was 2.50. The lowest was 0.37. And the median was 0.89.

CRWOF's Cyclically Adjusted PB Ratio is ranked better than
82.39% of 1363 companies
in the Construction industry
Industry Median: 1.17 vs CRWOF: 0.41

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.

China Railway Group's adjusted book value per share data for the three months ended in Mar. 2026 was $2.200. 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 $1.13 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


China Railway Group  (OTCPK:CRWOF) 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.


China Railway Group Cyclically Adjusted PB Ratio Related Terms


China Railway Group Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for China Railway Group'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.

China Railway Group Cyclically Adjusted PB Ratio Chart

China Railway Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.81 0.69 0.63 0.64 0.49

China Railway Group 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 0.54 0.54 0.51 0.49 0.48

CRWOF vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, China Railway Group'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.


China Railway Group Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, China Railway Group's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CRWOF
42GF Score
China Railway Group Ltd CRWOF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

China Railway Group 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.

China Railway Group's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.44225/1.13
=0.39

* 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.

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

For example, China Railway Group'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)
=2.2/121.4731*121.4731
=2.200

Current CPI (Mar. 2026) = 121.4731.

China Railway Group Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.887 101.686 1.060
201609 0.902 102.565 1.068
201612 0.888 103.225 1.045
201703 0.915 103.335 1.076
201706 0.949 103.664 1.112
201709 1.002 103.994 1.170
201712 1.032 104.984 1.194
201803 1.110 105.973 1.272
201806 1.112 106.193 1.272
201809 1.079 106.852 1.227
201812 1.220 107.622 1.377
201903 1.276 108.172 1.433
201906 1.255 109.601 1.391
201909 1.205 110.260 1.328
201912 1.285 110.700 1.410
202003 1.282 110.920 1.404
202006 1.296 110.590 1.424
202009 1.436 107.512 1.622
202012 1.589 109.711 1.759
202103 1.635 111.579 1.780
202106 1.696 111.360 1.850
202109 1.732 109.051 1.929
202112 1.759 112.349 1.902
202203 1.801 113.558 1.927
202206 1.716 113.448 1.837
202209 1.699 113.778 1.814
202212 1.745 114.548 1.851
202303 1.810 115.427 1.905
202306 1.725 115.647 1.812
202309 1.785 116.087 1.868
202312 1.882 117.296 1.949
202403 1.907 117.735 1.968
202406 1.870 117.296 1.937
202409 2.009 118.615 2.057
202412 1.969 118.945 2.011
202503 2.029 119.384 2.064
202506 2.064 119.055 2.106
202509 2.109 119.934 2.136
202512 2.134 120.704 2.148
202603 2.200 121.473 2.200

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 0.39 mean?
China Railway Group (CRWOF) has a Cyclically Adjusted PB Ratio of 0.39 as of Jul. 25, 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 China Railway Group and its competitors. This is 56% below median its historical median of 0.89. Over the past decade, China Railway Group's Cyclically Adjusted PB Ratio has ranged from 0.37 to 2.50. According to the industry distribution chart, China Railway Group ranks #240 out of 1363 companies in the Construction industry, placing it in the top 17.6%.
Is China Railway Group's Cyclically Adjusted PB Ratio too high?
China Railway Group's current Cyclically Adjusted PB Ratio of 0.39 is 56% below median its 10-year median of 0.89. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 2.50. The Construction industry median Cyclically Adjusted PB Ratio is 1.17. China Railway Group's value of 0.39 is 66.7% below this industry median. Based on the distribution chart, China Railway Group ranks #240 out of 1363 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, China Railway Group has a GF Score™ of 42/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Railway Group's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, China Railway Group ranks #240 out of 1363 companies for Cyclically Adjusted PB Ratio. This places China Railway Group in the top 18% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.17. China Railway Group's value of 0.39 is 66.7% below this benchmark. Historically, China Railway Group's own Cyclically Adjusted PB Ratio has ranged from 0.37 to 2.50 over the past decade. While the company's 10-year median is 0.89 vs. the industry median of 1.17, China Railway Group 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 Construction company?
The median Cyclically Adjusted PB Ratio among Construction companies is 1.17, based on 1,363 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. China Railway Group's current Cyclically Adjusted PB Ratio of 0.39 is 66.7% 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 China Railway Group and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Railway Group's current Cyclically Adjusted PB Ratio is 0.39, which is 56% below median its own 10-year median of 0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Railway Group stock overvalued right now?
Based on GuruFocus' analysis, China Railway Group (CRWOF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.54, compared to a current price of $0.44 — trading 18.1% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.39, which is 56% below median its 10-year median of 0.89 and 66.7% below the Construction industry median of 1.17. China Railway Group's overall GF Score™ is 42/100 with 10 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 China Railway Group (CRWOF), the current Cyclically Adjusted PB Ratio is 0.39 as of Jul. 25, 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 China Railway Group (CRWOF) Overvalued in 2026?

Based on GuruFocus' analysis, China Railway Group stock appears to be undervalued. The current stock price of $0.44 is trading 18.1% below its estimated GF Value™ of $0.54. GuruFocus considers China Railway Group to be Modestly Undervalued.

Key valuation signals for CRWOF:

  • Cyclically Adjusted PB Ratio: 0.39 (56% below median its 10-year median of 0.89)
  • GF Value™: $0.54 vs. price of $0.44 (18.1% below fair value)
  • GF Score™: 42/100 with 10 warning signs
  • Industry Position: 66.7% below the Construction median (#240 of 1363)

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


China Railway Group Business Description

Address 49 Hoi Yuen Road, Unit 1201-1203, 12th Floor, APEC Plaza, Kowloon, Hong Kong, HKG
China Railway Group Ltd is a construction conglomerate company. The company's operating segment includes Infrastructure construction; Survey, design and consulting services; Engineering equipment and component manufacturing; Property development, and Other businesses. It generates maximum revenue from the Infrastructure construction segment. The Infrastructure construction segment includes the construction of railways, highways, bridges, tunnels, metropolitan railways (including subways and light railways), buildings, irrigation works, hydroelectricity projects, ports, docks, airports, and other municipal works.
42GF Score

Get the complete analysis for CRWOF

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

$0.44
Price
$0.54
GF Value