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Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.
Shiller PE for Stocks: The True Measure of Stock Valuation
China Tourism Group Duty Free (OTCPK:CTGDF) 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 Tourism Group Duty Free Cyclically Adjusted PB Ratio Related Terms
China Tourism Group Duty Free Cyclically Adjusted PB Ratio Historical Data
* 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 Tourism Group Duty Free Cyclically Adjusted PB Ratio Chart
CTGDF vs CASY, WSM, ULTA: Cyclically Adjusted PB Ratio Comparison
For the Specialty Retail subindustry, China Tourism Group Duty Free'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 Tourism Group Duty Free Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where China Tourism Group Duty Free's Cyclically Adjusted PB Ratio falls into.
China Tourism Group Duty Free 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.
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 China Tourism Group Duty Free (CTGDF) Overvalued in 2026?
Based on GuruFocus' analysis, China Tourism Group Duty Free stock appears to be undervalued.
The current stock price of $6.25 is trading 22.6% below its estimated GF Value™ of $8.07.
GuruFocus considers China Tourism Group Duty Free to be Modestly Undervalued.
Key valuation signals for CTGDF:
Cyclically Adjusted PB Ratio:
GF Value™: $8.07 vs. price of $6.25 (22.6% below fair value)
No single metric tells the full story. See the CTGDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Established in 1984, China Tourism Group Duty Free is China's largest and the world's second-largest travel retailer in 2025 with revenue of CNY 54 billion. The company primarily operates duty-free stores at airports, border crossings, offshore, downtown, and on flights, cruises and ships, with about 200 stores spanning over 33 provinces in China, as well as overseas. The company also operates a duty-paid business. Its 2025 revenue mix was 73% duty-free sales and 27% duty-paid sales and others. CTG Duty Free is 50% owned by China Tourism Group, a state-owned enterprise that falls directly under the State-owned Assets Supervision and Administration Commission of the State Council.
81GF Score
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