National Real Estate Co KSC (DFM:NRE) Cyclically Adjusted PB Ratio: (As of Aug. 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
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 0.45 0.41 0.39 0.67

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 Jun. 2026 is calculated as:

For example, National Real Estate Co KSC's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.763/333.9520*333.9520
=1.763

Current CPI (Jun. 2026) = 333.9520.

National Real Estate Co KSC Quarterly Data

Book Value per Share CPI Adj_Book
201609 1.763 241.428 2.439
201612 1.673 241.432 2.314
201703 1.691 243.801 2.316
201706 1.592 244.955 2.170
201709 1.770 246.819 2.395
201712 1.803 246.524 2.442
201803 1.398 249.554 1.871
201806 1.420 251.989 1.882
201809 1.400 252.439 1.852
201812 1.617 251.233 2.149
201903 1.721 254.202 2.261
201906 1.722 256.143 2.245
201909 1.729 256.759 2.249
201912 1.799 256.974 2.338
202003 1.807 258.115 2.338
202006 1.610 257.797 2.086
202009 1.806 260.280 2.317
202012 1.808 260.474 2.318
202103 1.799 264.877 2.268
202106 1.842 271.696 2.264
202109 3.271 274.310 3.982
202112 2.998 278.802 3.591
202203 2.717 287.504 3.156
202206 2.232 296.311 2.516
202209 2.116 296.808 2.381
202212 2.388 296.797 2.687
202303 2.694 301.836 2.981
202306 2.799 305.109 3.064
202309 2.579 307.789 2.798
202312 2.331 306.746 2.538
202403 2.266 312.332 2.423
202406 2.160 314.175 2.296
202409 2.468 315.301 2.614
202412 2.516 315.605 2.662
202503 2.375 319.799 2.480
202506 2.222 322.561 2.300
202509 1.924 324.800 1.978
202512 2.204 324.054 2.271
202603 1.729 330.213 1.749
202606 1.763 333.952 1.763

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.