Naeem Holding (DFM:NAHO) Cyclically Adjusted PB Ratio: 0.17 (As of Jul. 15, 2026) — 13% Above Median

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Director of Data and Quant Analytics at GuruFocus
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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.

DFM:NAHO Naeem Holding DFM:NAHO
59 GF Score
Price د.إ1.85
GF Value د.إ2.16
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Naeem Holding Cyclically Adjusted PB Ratio?

Naeem Holding DFM:NAHO 59 Cyclically Adjusted PB Ratio is 0.17 as of Jul. 15, 2026, which is 13% above its 10-year median of 0.15. GuruFocus rates DFM:NAHO with a GF Score™ of 59/100 and a GF Value™ of د.إ2.16 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 637 Capital Markets companies, Naeem Holding ranks better than 95.6% on this metric.

As of today (2026-07-15), Naeem Holding's current share price is د.إ1.85. Naeem Holding's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was د.إ11.04. Naeem Holding's Cyclically Adjusted PB Ratio for today is 0.17.

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

DFM:NAHO' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.11   Med: 0.15   Max: 0.19
Current: 0.14

During the past years, Naeem Holding's highest Cyclically Adjusted PB Ratio was 0.19. The lowest was 0.11. And the median was 0.15.

DFM:NAHO's Cyclically Adjusted PB Ratio is ranked better than
95.6% of 637 companies
in the Capital Markets industry
Industry Median: 1.35 vs DFM:NAHO: 0.14

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.

Naeem Holding's adjusted book value per share data for the three months ended in Mar. 2026 was د.إ0.925. 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 د.إ11.04 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Naeem Holding  (DFM:NAHO) 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.


Naeem Holding Cyclically Adjusted PB Ratio Related Terms


Naeem Holding Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Naeem Holding'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.

Naeem Holding Cyclically Adjusted PB Ratio Chart

Naeem Holding 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 0.00 0.14 0.13 0.17 0.15

Naeem Holding 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 0.16 0.16 0.17 0.15 0.14

DFM:NAHO vs MS, GS, SCHW: Cyclically Adjusted PB Ratio Comparison

For the Capital Markets subindustry, Naeem Holding'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.


Naeem Holding Cyclically Adjusted PB Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Naeem Holding's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


DFM:NAHO
59GF Score
Naeem Holding DFM:NAHO
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Naeem Holding 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.

Naeem Holding's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1.85/11.04
=0.17

* 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.

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

For example, Naeem Holding'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)
=0.925/330.2130*330.2130
=0.925

Current CPI (Mar. 2026) = 330.2130.

Naeem Holding Quarterly Data

Book Value per Share CPI Adj_Book
201606 4.568 241.018 6.259
201609 4.660 241.428 6.374
201612 4.900 241.432 6.702
201703 4.879 243.801 6.608
201706 4.920 244.955 6.632
201709 2.264 246.819 3.029
201712 2.254 246.524 3.019
201803 2.264 249.554 2.996
201806 2.234 251.989 2.927
201809 2.205 252.439 2.884
201812 2.232 251.233 2.934
201903 2.146 254.202 2.788
201906 2.121 256.143 2.734
201909 2.070 256.759 2.662
201912 2.056 256.974 2.642
202003 2.028 258.115 2.594
202006 1.983 257.797 2.540
202009 2.170 260.280 2.753
202012 2.159 260.474 2.737
202103 2.144 264.877 2.673
202106 2.140 271.696 2.601
202109 1.990 274.310 2.396
202112 2.037 278.802 2.413
202203 1.985 287.504 2.280
202206 1.979 296.311 2.205
202209 1.967 296.808 2.188
202212 1.843 296.797 2.051
202303 1.733 301.836 1.896
202306 1.719 305.109 1.860
202309 1.698 307.789 1.822
202312 1.699 306.746 1.829
202403 1.623 312.332 1.716
202406 1.613 314.175 1.695
202409 1.570 315.301 1.644
202412 1.508 315.605 1.578
202503 1.264 319.799 1.305
202506 1.132 322.561 1.159
202509 1.050 324.800 1.067
202512 1.061 324.054 1.081
202603 0.925 330.213 0.925

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 0.17 mean?
Naeem Holding (DFM:NAHO) has a Cyclically Adjusted PB Ratio of 0.17 as of Jul. 15, 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 Naeem Holding and its competitors. This is 13% above median its historical median of 0.15. Over the past decade, Naeem Holding's Cyclically Adjusted PB Ratio has ranged from 0.11 to 0.19. According to the industry distribution chart, Naeem Holding ranks #28 out of 637 companies in the Capital Markets industry, placing it in the top 4.4%.
Is Naeem Holding's Cyclically Adjusted PB Ratio too high?
Naeem Holding's current Cyclically Adjusted PB Ratio of 0.17 is 13% above median its 10-year median of 0.15. Over the past 10 years, this metric has ranged from a low of 0.11 to a high of 0.19. The Capital Markets industry median Cyclically Adjusted PB Ratio is 1.35. Naeem Holding's value of 0.17 is 87.4% below this industry median. Based on the distribution chart, Naeem Holding ranks #28 out of 637 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Naeem Holding has a GF Score™ of 59/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Naeem Holding's Cyclically Adjusted PB Ratio compare to MS and GS?
According to the Capital Markets industry distribution chart, Naeem Holding ranks #28 out of 637 companies for Cyclically Adjusted PB Ratio. This places Naeem Holding in the top 4% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.35. Naeem Holding's value of 0.17 is 87.4% below this benchmark. Historically, Naeem Holding's own Cyclically Adjusted PB Ratio has ranged from 0.11 to 0.19 over the past decade. While the company's 10-year median is 0.15 vs. the industry median of 1.35, Naeem Holding 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 Capital Markets company?
The median Cyclically Adjusted PB Ratio among Capital Markets companies is 1.35, based on 637 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. Naeem Holding's current Cyclically Adjusted PB Ratio of 0.17 is 87.4% 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 Naeem Holding and its competitors. For the Capital Markets industry, the median Cyclically Adjusted PB Ratio is 1.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Naeem Holding's current Cyclically Adjusted PB Ratio is 0.17, which is 13% above median its own 10-year median of 0.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Naeem Holding stock overvalued right now?
Based on GuruFocus' analysis, Naeem Holding (DFM:NAHO) is currently considered Modestly Undervalued. The stock's GF Value™ is د.إ2.16, compared to a current price of د.إ1.85 — trading 14.4% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.17, which is 13% above median its 10-year median of 0.15 and 87.4% below the Capital Markets industry median of 1.35. Naeem Holding's overall GF Score™ is 59/100 with 7 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 Naeem Holding (DFM:NAHO), the current Cyclically Adjusted PB Ratio is 0.17 as of Jul. 15, 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 Naeem Holding (DFM:NAHO) Overvalued in 2026?

Based on GuruFocus' analysis, Naeem Holding stock appears to be undervalued. The current stock price of د.إ1.85 is trading 14.4% below its estimated GF Value™ of د.إ2.16. GuruFocus considers Naeem Holding to be Modestly Undervalued.

Key valuation signals for DFM:NAHO:

  • Cyclically Adjusted PB Ratio: 0.17 (13% above median its 10-year median of 0.15)
  • GF Value™: د.إ2.16 vs. price of د.إ1.85 (14.4% below fair value)
  • GF Score™: 59/100 with 7 warning signs
  • Industry Position: 87.4% below the Capital Markets median (#28 of 637)

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


Naeem Holding Business Description

Other Exchanges NAHO:Egypt
Address Km 28 Cairo Alexandria Road, Building B16, Phase 1, P.O. Box 61, Smart Village, 6th of October City, Giza, EGY, 12577
Naeem Holding is Egypt based company that operates in the financial industry. The services provided by the company are investment banking services, security brokerage, asset management, and securities research. Its business lines are Securities Brokerage, Asset Management, Investment Banking, Gold Trading, and Research.
59GF Score

Get the complete analysis for DFM:NAHO

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

د.إ1.85
Price
د.إ2.16
GF Value