National Real Estate Co KSC (DFM:NRE) Cyclically Adjusted PB Ratio: (As of Jul. 26, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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What is National Real Estate Co KSC Cyclically Adjusted PB Ratio?

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


National Real Estate Co KSC  (DFM:NRE) 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.


National Real Estate Co KSC Cyclically Adjusted PB Ratio Related Terms


National Real Estate Co KSC Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for National Real Estate Co KSC'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.

National Real Estate Co KSC Cyclically Adjusted PB Ratio Chart

National Real Estate Co KSC 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 1.16 0.72 0.36 0.43 0.41

National Real Estate Co KSC 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 0.43 0.43 0.45 0.41 0.39

National Real Estate Co KSC Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Development subindustry, National Real Estate Co KSC'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.


National Real Estate Co KSC Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, National Real Estate Co KSC's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where National Real Estate Co KSC's Cyclically Adjusted PB Ratio falls into.



National Real Estate Co KSC 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.

National Real Estate Co KSC's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, National Real Estate Co KSC'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)
=1.722/330.2130*330.2130
=1.722

Current CPI (Mar. 2026) = 330.2130.

National Real Estate Co KSC Quarterly Data

Book Value per Share CPI Adj_Book
201606 1.716 241.018 2.351
201609 1.755 241.428 2.400
201612 1.666 241.432 2.279
201703 1.684 243.801 2.281
201706 1.585 244.955 2.137
201709 1.762 246.819 2.357
201712 1.795 246.524 2.404
201803 1.392 249.554 1.842
201806 1.414 251.989 1.853
201809 1.394 252.439 1.823
201812 1.610 251.233 2.116
201903 1.714 254.202 2.227
201906 1.715 256.143 2.211
201909 1.722 256.759 2.215
201912 1.791 256.974 2.301
202003 1.800 258.115 2.303
202006 1.603 257.797 2.053
202009 1.798 260.280 2.281
202012 1.801 260.474 2.283
202103 1.791 264.877 2.233
202106 1.835 271.696 2.230
202109 3.258 274.310 3.922
202112 2.985 278.802 3.535
202203 2.705 287.504 3.107
202206 2.223 296.311 2.477
202209 2.107 296.808 2.344
202212 2.377 296.797 2.645
202303 2.683 301.836 2.935
202306 2.787 305.109 3.016
202309 2.569 307.789 2.756
202312 2.321 306.746 2.499
202403 2.256 312.332 2.385
202406 2.150 314.175 2.260
202409 2.457 315.301 2.573
202412 2.506 315.605 2.622
202503 2.365 319.799 2.442
202506 2.213 322.561 2.265
202509 1.916 324.800 1.948
202512 2.195 324.054 2.237
202603 1.722 330.213 1.722

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.


National Real Estate Co KSC Business Description

Other Exchanges NRE:Kuwait
Address Al-Shuhada Street, P.O. Box 22644, 58th Floor, Al-Hamra Tower, Sharq, Safat, Kuwait, KWT, 13087
National Real Estate Co KSC (NREC) is a real estate investment and development company. The company is engaged in the purchase, development, and sale of land, management of real estate properties, real estate construction, and maintenance services. The company reports in two segments: Real Estate and others, which include development, trading, leasing, and management of real estate properties and other activities, and the Investments segment, which consists of investments in an associate, joint venture, and equity securities. The portfolio of company projects includes Residential, Malls, commercial, industrial, warehousing, and resorts. NREC has development projects in the United Arab Emirates, Egypt, Jordan, Kuwait, and Libya.