CSTPF (Arrow Exploration) Cyclically Adjusted PB Ratio: 0.32 (As of Jul. 24, 2026) — 967% Above 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.

CSTPF Arrow Exploration Corp CSTPF
38 GF Score
Price $0.38
GF Value $0.48
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Arrow Exploration Cyclically Adjusted PB Ratio?

Arrow Exploration CSTPF +2.12% 38 Cyclically Adjusted PB Ratio is 0.32 as of Jul. 24, 2026, which is 967% above its 10-year median of 0.03. GuruFocus rates CSTPF with a GF Score™ of 38/100 and a GF Value™ of $0.48 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 771 Oil & Gas companies, Arrow Exploration ranks better than 82.49% on this metric.

As of today (2026-07-24), Arrow Exploration's current share price is $0.37785. Arrow Exploration's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $1.17. Arrow Exploration's Cyclically Adjusted PB Ratio for today is 0.32.

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

CSTPF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.01   Med: 0.03   Max: 0.36
Current: 0.32

During the past years, Arrow Exploration's highest Cyclically Adjusted PB Ratio was 0.36. The lowest was 0.01. And the median was 0.03.

CSTPF's Cyclically Adjusted PB Ratio is ranked better than
82.49% of 771 companies
in the Oil & Gas industry
Industry Median: 1.21 vs CSTPF: 0.32

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.

Arrow Exploration's adjusted book value per share data for the three months ended in Mar. 2026 was $0.206. 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 $1.17 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Arrow Exploration  (OTCPK:CSTPF) 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.


Arrow Exploration Cyclically Adjusted PB Ratio Related Terms


Arrow Exploration Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Arrow Exploration'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.

Arrow Exploration Cyclically Adjusted PB Ratio Chart

Arrow Exploration 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 0.01 0.04 0.06 0.14 0.15

Arrow Exploration 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 0.12 0.14 0.13 0.15 0.26

CSTPF vs COP, EOG, FANG: Cyclically Adjusted PB Ratio Comparison

For the Oil & Gas E&P subindustry, Arrow Exploration'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.


Arrow Exploration Cyclically Adjusted PB Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Arrow Exploration's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


CSTPF
38GF Score
Arrow Exploration Corp CSTPF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Arrow Exploration 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.

Arrow Exploration's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.37785/1.17
=0.32

* 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.

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

For example, Arrow Exploration'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)
=0.206/132.2623*132.2623
=0.206

Current CPI (Mar. 2026) = 132.2623.

Arrow Exploration Quarterly Data

Book Value per Share CPI Adj_Book
201606 5.402 102.002 7.005
201609 4.784 101.765 6.218
201612 4.363 101.449 5.688
201703 4.382 102.634 5.647
201706 4.455 103.029 5.719
201709 1.387 103.345 1.775
201712 1.328 103.345 1.700
201803 1.269 105.004 1.598
201806 1.201 105.557 1.505
201809 0.720 105.636 0.901
201812 0.736 105.399 0.924
201903 0.716 106.979 0.885
201906 0.691 107.690 0.849
201909 0.681 107.611 0.837
201912 0.658 107.769 0.808
202003 0.276 107.927 0.338
202006 0.322 108.401 0.393
202009 0.303 108.164 0.371
202012 0.186 108.559 0.227
202103 0.175 110.298 0.210
202106 0.164 111.720 0.194
202109 0.164 112.905 0.192
202112 0.112 113.774 0.130
202203 0.087 117.646 0.098
202206 0.092 120.806 0.101
202209 0.104 120.648 0.114
202212 0.119 120.964 0.130
202303 0.138 122.702 0.149
202306 0.137 124.203 0.146
202309 0.174 125.230 0.184
202312 0.145 125.072 0.153
202403 0.156 126.258 0.163
202406 0.161 127.522 0.167
202409 0.185 127.285 0.192
202412 0.185 127.364 0.192
202503 0.195 129.181 0.200
202506 0.191 129.892 0.194
202509 0.202 130.287 0.205
202512 0.190 130.366 0.193
202603 0.206 132.262 0.206

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 0.32 mean?
Arrow Exploration (CSTPF) has a Cyclically Adjusted PB Ratio of 0.32 as of Jul. 24, 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 Arrow Exploration and its competitors. This is 967% above median its historical median of 0.03. Over the past decade, Arrow Exploration's Cyclically Adjusted PB Ratio has ranged from 0.01 to 0.36. According to the industry distribution chart, Arrow Exploration ranks #135 out of 771 companies in the Oil & Gas industry, placing it in the top 17.5%.
Is Arrow Exploration's Cyclically Adjusted PB Ratio too high?
Arrow Exploration's current Cyclically Adjusted PB Ratio of 0.32 is 967% above median its 10-year median of 0.03. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 0.36. The Oil & Gas industry median Cyclically Adjusted PB Ratio is 1.21. Arrow Exploration's value of 0.32 is 73.6% below this industry median. Based on the distribution chart, Arrow Exploration ranks #135 out of 771 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Arrow Exploration has a GF Score™ of 38/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Arrow Exploration's Cyclically Adjusted PB Ratio compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Arrow Exploration ranks #135 out of 771 companies for Cyclically Adjusted PB Ratio. This places Arrow Exploration in the top 18% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.21. Arrow Exploration's value of 0.32 is 73.6% below this benchmark. Historically, Arrow Exploration's own Cyclically Adjusted PB Ratio has ranged from 0.01 to 0.36 over the past decade. While the company's 10-year median is 0.03 vs. the industry median of 1.21, Arrow Exploration 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 an Oil & Gas company?
The median Cyclically Adjusted PB Ratio among Oil & Gas companies is 1.21, based on 771 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. Arrow Exploration's current Cyclically Adjusted PB Ratio of 0.32 is 73.6% 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 Arrow Exploration and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PB Ratio is 1.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Arrow Exploration's current Cyclically Adjusted PB Ratio is 0.32, which is 967% above median its own 10-year median of 0.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arrow Exploration stock overvalued right now?
Based on GuruFocus' analysis, Arrow Exploration (CSTPF) is currently considered Modestly Undervalued. The stock's GF Value™ is $0.48, compared to a current price of $0.38 — trading 21.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.32, which is 967% above median its 10-year median of 0.03 and 73.6% below the Oil & Gas industry median of 1.21. Arrow Exploration's overall GF Score™ is 38/100 with 3 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 Arrow Exploration (CSTPF), the current Cyclically Adjusted PB Ratio is 0.32 as of Jul. 24, 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 Arrow Exploration (CSTPF) Overvalued in 2026?

Based on GuruFocus' analysis, Arrow Exploration stock appears to be undervalued. The current stock price of $0.38 is trading 21.3% below its estimated GF Value™ of $0.48. GuruFocus considers Arrow Exploration to be Modestly Undervalued.

Key valuation signals for CSTPF:

  • Cyclically Adjusted PB Ratio: 0.32 (967% above median its 10-year median of 0.03)
  • GF Value™: $0.48 vs. price of $0.38 (21.3% below fair value)
  • GF Score™: 38/100 with 3 warning signs
  • Industry Position: 73.6% below the Oil & Gas median (#135 of 771)

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


Arrow Exploration Business Description

Industry EnergyOil & Gas
Other Exchanges AXL:UKAXL:Canada
Address 1430, 333 11th Avenue SW, Calgary, AB, CAN, T2R 1L9
Arrow Exploration Corp is engaged in oil exploration, development and production, and the acquisition of oil and gas properties. The company operates in two reportable segment: Colombia and Canada. The company generates the majority of its revenue from Colombia. Some of the company's assets are Tapir Block, Capella Field, Oso Pardo, and Santa Isabel. The Canada segment of the company is referred to as the Corporate Segment. The company generates all of its revenue from oil and natural gas sales.
38GF Score

Get the complete analysis for CSTPF

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

$0.38
Price
$0.48
GF Value