Golden Harvest Agro Industries (DHA:GHAIL) Cyclically Adjusted PB Ratio: 0.90 (As of Jul. 27, 2026) — 18% 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.

DHA:GHAIL Golden Harvest Agro Industries Ltd DHA:GHAIL
76 GF Score
Price BDT15.10
GF Value BDT14.47
Valuation Fairly Valued
! 7 Warning Signs
View Full Analysis

What is Golden Harvest Agro Industries Cyclically Adjusted PB Ratio?

Golden Harvest Agro Industries DHA:GHAIL -1.95% 76 Cyclically Adjusted PB Ratio is 0.90 as of Jul. 27, 2026, which is 18% above its 10-year median of 0.76. GuruFocus rates DHA:GHAIL with a GF Score™ of 76/100 and a GF Value™ of BDT14.47 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,440 Consumer Packaged Goods companies, Golden Harvest Agro Industries ranks better than 62.57% on this metric.

As of today (2026-07-27), Golden Harvest Agro Industries's current share price is BDT15.10. Golden Harvest Agro Industries's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was BDT16.80. Golden Harvest Agro Industries's Cyclically Adjusted PB Ratio for today is 0.90.

The historical rank and industry rank for Golden Harvest Agro Industries's Cyclically Adjusted PB Ratio or its related term are showing as below:

DHA:GHAIL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.56   Med: 0.76   Max: 1.21
Current: 0.92

During the past years, Golden Harvest Agro Industries's highest Cyclically Adjusted PB Ratio was 1.21. The lowest was 0.56. And the median was 0.76.

DHA:GHAIL's Cyclically Adjusted PB Ratio is ranked better than
62.57% of 1440 companies
in the Consumer Packaged Goods industry
Industry Median: 1.25 vs DHA:GHAIL: 0.92

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.

Golden Harvest Agro Industries's adjusted book value per share data for the three months ended in Mar. 2026 was BDT12.041. 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 BDT16.80 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Golden Harvest Agro Industries  (DHA:GHAIL) 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.


Golden Harvest Agro Industries Cyclically Adjusted PB Ratio Related Terms


Golden Harvest Agro Industries Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Golden Harvest Agro Industries'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.

Golden Harvest Agro Industries Cyclically Adjusted PB Ratio Chart

Golden Harvest Agro Industries Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.83 0.68

Golden Harvest Agro Industries 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 0.86 0.68 0.75 0.64 0.70

DHA:GHAIL vs KHC, GIS, HRL: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Golden Harvest Agro Industries'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.


Golden Harvest Agro Industries Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Golden Harvest Agro Industries's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Golden Harvest Agro Industries's Cyclically Adjusted PB Ratio falls into.


DHA:GHAIL
76GF Score
Golden Harvest Agro Industries Ltd DHA:GHAIL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Golden Harvest Agro Industries 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.

Golden Harvest Agro Industries's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=15.10/16.80
=0.90

* 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.

Golden Harvest Agro Industries's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Golden Harvest Agro Industries'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)
=12.041/330.2130*330.2130
=12.041

Current CPI (Mar. 2026) = 330.2130.

Golden Harvest Agro Industries Quarterly Data

Book Value per Share CPI Adj_Book
201606 12.075 241.018 16.544
201609 12.645 241.428 17.295
201612 14.053 241.432 19.221
201703 12.983 243.801 17.585
201706 13.210 244.955 17.808
201709 13.609 246.819 18.207
201712 15.196 246.524 20.355
201803 15.434 249.554 20.422
201806 14.605 251.989 19.139
201809 15.032 252.439 19.663
201812 15.851 251.233 20.834
201903 15.729 254.202 20.432
201906 14.410 256.143 18.577
201909 14.842 256.759 19.088
201912 21.029 256.974 27.022
202003 15.580 258.115 19.932
202006 15.011 257.797 19.228
202009 14.657 260.280 18.595
202012 14.372 260.474 18.220
202103 14.150 264.877 17.640
202106 14.186 271.696 17.241
202109 14.204 274.310 17.099
202112 14.237 278.802 16.862
202203 14.069 287.504 16.159
202206 13.521 296.311 15.068
202209 13.488 296.808 15.006
202212 13.481 296.797 14.999
202303 13.406 301.836 14.666
202306 13.405 305.109 14.508
202309 13.415 307.789 14.392
202312 13.280 306.746 14.296
202403 13.132 312.332 13.884
202406 12.489 314.175 13.127
202409 12.762 315.301 13.366
202412 12.565 315.605 13.147
202503 12.503 319.799 12.910
202506 12.327 322.561 12.619
202509 12.214 324.800 12.418
202512 12.159 324.054 12.390
202603 12.041 330.213 12.041

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 0.90 mean?
Golden Harvest Agro Industries (DHA:GHAIL) has a Cyclically Adjusted PB Ratio of 0.90 as of Jul. 27, 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 Golden Harvest Agro Industries and its competitors. This is 18% above median its historical median of 0.76. Over the past decade, Golden Harvest Agro Industries' Cyclically Adjusted PB Ratio has ranged from 0.56 to 1.21. According to the industry distribution chart, Golden Harvest Agro Industries ranks #539 out of 1440 companies in the Consumer Packaged Goods industry, placing it in the top 37.4%.
Is Golden Harvest Agro Industries' Cyclically Adjusted PB Ratio too high?
Golden Harvest Agro Industries' current Cyclically Adjusted PB Ratio of 0.90 is 18% above median its 10-year median of 0.76. Over the past 10 years, this metric has ranged from a low of 0.56 to a high of 1.21. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.25. Golden Harvest Agro Industries' value of 0.90 is 28% below this industry median. Based on the distribution chart, Golden Harvest Agro Industries ranks #539 out of 1440 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Golden Harvest Agro Industries has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Golden Harvest Agro Industries' Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Golden Harvest Agro Industries ranks #539 out of 1440 companies for Cyclically Adjusted PB Ratio. This puts Golden Harvest Agro Industries in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. Golden Harvest Agro Industries' value of 0.90 is 28% below this benchmark. Historically, Golden Harvest Agro Industries' own Cyclically Adjusted PB Ratio has ranged from 0.56 to 1.21 over the past decade. While the company's 10-year median is 0.76 vs. the industry median of 1.25, Golden Harvest Agro Industries 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 Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.25, based on 1,440 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. Golden Harvest Agro Industries's current Cyclically Adjusted PB Ratio of 0.90 is 28% 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 Golden Harvest Agro Industries and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Golden Harvest Agro Industries's current Cyclically Adjusted PB Ratio is 0.90, which is 18% above median its own 10-year median of 0.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Golden Harvest Agro Industries stock overvalued right now?
Based on GuruFocus' analysis, Golden Harvest Agro Industries (DHA:GHAIL) is currently considered Fairly Valued. The stock's GF Value™ is BDT14.47, compared to a current price of BDT15.10 — trading 4.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.90, which is 18% above median its 10-year median of 0.76 and 28% below the Consumer Packaged Goods industry median of 1.25. Golden Harvest Agro Industries' overall GF Score™ is 76/100 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 Golden Harvest Agro Industries (DHA:GHAIL), the current Cyclically Adjusted PB Ratio is 0.90 as of Jul. 27, 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 Golden Harvest Agro Industries (DHA:GHAIL) Overvalued in 2026?

Based on GuruFocus' analysis, Golden Harvest Agro Industries stock appears to be overvalued. The current stock price of BDT15.10 is trading 4.4% above its estimated GF Value™ of BDT14.47. GuruFocus considers Golden Harvest Agro Industries to be Fairly Valued.

Key valuation signals for DHA:GHAIL:

  • Cyclically Adjusted PB Ratio: 0.90 (18% above median its 10-year median of 0.76)
  • GF Value™: BDT14.47 vs. price of BDT15.10 (4.4% above fair value)
  • GF Score™: 76/100 with 7 warning signs
  • Industry Position: 28% below the Consumer Packaged Goods median (#539 of 1440)

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


Golden Harvest Agro Industries Business Description

Address 186, Gulshan -Tejgaon Link Road, S/501 & 502, Shanta Western Tower, Level-5, Tejgoan Industrial Area, Dhaka, BGD, 1208
Golden Harvest Agro Industries Ltd engages in owning and controlling a frozen food processing plant. The company offers frozen food products, including vegetables, ready-to-eat foods, finger foods, and other products, as well as ice cream and milk. It is also involved in vegetable processing activities. The company's business activities include growing, procuring, purchasing, processing, packaging, warehousing, transporting, exporting, importing, distributing, and selling its products. The company operates in two segments: frozen snacks and dairy, with the majority of its revenue derived from the frozen snacks segment.
76GF Score

Get the complete analysis for DHA:GHAIL

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

BDT15.10
Price
BDT14.47
GF Value