LafargeHolcim Bangladesh (DHA:LHB) Cyclically Adjusted PB Ratio: 3.23 (As of Jul. 28, 2026) — 18% Below 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:LHB LafargeHolcim Bangladesh PLC DHA:LHB
90 GF Score
Price BDT58.50
GF Value BDT60.76
Valuation Fairly Valued
! 5 Warning Signs
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What is LafargeHolcim Bangladesh Cyclically Adjusted PB Ratio?

LafargeHolcim Bangladesh DHA:LHB +0.34% 90 Cyclically Adjusted PB Ratio is 3.23 as of Jul. 28, 2026, which is 18% below its 10-year median of 3.96. GuruFocus rates DHA:LHB with a GF Score™ of 90/100 and a GF Value™ of BDT60.76 (Fairly Valued). The stock has 5 warning signs investors should review. Among 321 Building Materials companies, LafargeHolcim Bangladesh ranks worse than 85.05% on this metric.

As of today (2026-07-28), LafargeHolcim Bangladesh's current share price is BDT58.50. LafargeHolcim Bangladesh's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was BDT18.10. LafargeHolcim Bangladesh's Cyclically Adjusted PB Ratio for today is 3.23.

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

DHA:LHB' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.44   Med: 3.96   Max: 5.22
Current: 3.26

During the past years, LafargeHolcim Bangladesh's highest Cyclically Adjusted PB Ratio was 5.22. The lowest was 2.44. And the median was 3.96.

DHA:LHB's Cyclically Adjusted PB Ratio is ranked worse than
85.05% of 321 companies
in the Building Materials industry
Industry Median: 1 vs DHA:LHB: 3.26

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.

LafargeHolcim Bangladesh's adjusted book value per share data for the three months ended in Mar. 2026 was BDT17.327. 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 BDT18.10 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


LafargeHolcim Bangladesh  (DHA:LHB) 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.


LafargeHolcim Bangladesh Cyclically Adjusted PB Ratio Related Terms


LafargeHolcim Bangladesh Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for LafargeHolcim Bangladesh'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.

LafargeHolcim Bangladesh Cyclically Adjusted PB Ratio Chart

LafargeHolcim Bangladesh 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 4.21 4.18 4.20 3.12 2.63

LafargeHolcim Bangladesh 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 2.60 2.69 3.10 2.63 2.83

DHA:LHB vs CRH, VMC, MLM: Cyclically Adjusted PB Ratio Comparison

For the Building Materials subindustry, LafargeHolcim Bangladesh'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.


LafargeHolcim Bangladesh Cyclically Adjusted PB Ratio vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, LafargeHolcim Bangladesh's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


DHA:LHB
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LafargeHolcim Bangladesh PLC DHA:LHB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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LafargeHolcim Bangladesh 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.

LafargeHolcim Bangladesh's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=58.50/18.10
=3.23

* 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.

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

For example, LafargeHolcim Bangladesh'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)
=17.327/330.2130*330.2130
=17.327

Current CPI (Mar. 2026) = 330.2130.

LafargeHolcim Bangladesh Quarterly Data

Book Value per Share CPI Adj_Book
201606 13.156 241.018 18.025
201609 13.005 241.428 17.788
201612 13.236 241.432 18.103
201703 13.597 243.801 18.416
201706 13.054 244.955 17.598
201709 12.709 246.819 17.003
201712 13.151 246.524 17.615
201803 13.351 249.554 17.666
201806 13.028 251.989 17.072
201809 12.796 252.439 16.738
201812 13.414 251.233 17.631
201903 13.754 254.202 17.867
201906 13.139 256.143 16.938
201909 13.415 256.759 17.253
201912 13.948 256.974 17.923
202003 14.230 258.115 18.205
202006 13.771 257.797 17.639
202009 14.400 260.280 18.269
202012 14.887 260.474 18.873
202103 15.758 264.877 19.645
202106 15.803 271.696 19.207
202109 16.611 274.310 19.996
202112 17.044 278.802 20.187
202203 15.244 287.504 17.509
202206 16.410 296.311 18.288
202209 15.994 296.808 17.794
202212 15.250 296.797 16.967
202303 17.108 301.836 18.716
202306 17.069 305.109 18.473
202309 18.389 307.789 19.729
202312 19.138 306.746 20.602
202403 20.530 312.332 21.705
202406 16.603 314.175 17.451
202409 17.436 315.301 18.261
202412 16.009 315.605 16.750
202503 17.249 319.799 17.811
202506 16.325 322.561 16.712
202509 17.131 324.800 17.416
202512 16.415 324.054 16.727
202603 17.327 330.213 17.327

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 3.23 mean?
LafargeHolcim Bangladesh (DHA:LHB) has a Cyclically Adjusted PB Ratio of 3.23 as of Jul. 28, 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 LafargeHolcim Bangladesh and its competitors. This is 18% below median its historical median of 3.96. Over the past decade, LafargeHolcim Bangladesh's Cyclically Adjusted PB Ratio has ranged from 2.44 to 5.22. According to the industry distribution chart, LafargeHolcim Bangladesh ranks #273 out of 321 companies in the Building Materials industry, placing it in the top 85%.
Is LafargeHolcim Bangladesh's Cyclically Adjusted PB Ratio too high?
LafargeHolcim Bangladesh's current Cyclically Adjusted PB Ratio of 3.23 is 18% below median its 10-year median of 3.96. Over the past 10 years, this metric has ranged from a low of 2.44 to a high of 5.22. The Building Materials industry median Cyclically Adjusted PB Ratio is 1.00. LafargeHolcim Bangladesh's value of 3.23 is 223% above this industry median. Based on the distribution chart, LafargeHolcim Bangladesh ranks #273 out of 321 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, LafargeHolcim Bangladesh has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does LafargeHolcim Bangladesh's Cyclically Adjusted PB Ratio compare to CRH and VMC?
According to the Building Materials industry distribution chart, LafargeHolcim Bangladesh ranks #273 out of 321 companies for Cyclically Adjusted PB Ratio. This places LafargeHolcim Bangladesh in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.00. LafargeHolcim Bangladesh's value of 3.23 is 223% above this benchmark. Historically, LafargeHolcim Bangladesh's own Cyclically Adjusted PB Ratio has ranged from 2.44 to 5.22 over the past decade. While the company's 10-year median is 3.96 vs. the industry median of 1.00, LafargeHolcim Bangladesh has consistently been above 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 Building Materials company?
The median Cyclically Adjusted PB Ratio among Building Materials companies is 1.00, based on 321 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. LafargeHolcim Bangladesh's current Cyclically Adjusted PB Ratio of 3.23 is 223% above 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 LafargeHolcim Bangladesh and its competitors. For the Building Materials industry, the median Cyclically Adjusted PB Ratio is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LafargeHolcim Bangladesh's current Cyclically Adjusted PB Ratio is 3.23, which is 18% below median its own 10-year median of 3.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LafargeHolcim Bangladesh stock overvalued right now?
Based on GuruFocus' analysis, LafargeHolcim Bangladesh (DHA:LHB) is currently considered Fairly Valued. The stock's GF Value™ is BDT60.76, compared to a current price of BDT58.50 — trading 3.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.23, which is 18% below median its 10-year median of 3.96 and 223% above the Building Materials industry median of 1.00. LafargeHolcim Bangladesh's overall GF Score™ is 90/100 with 5 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 LafargeHolcim Bangladesh (DHA:LHB), the current Cyclically Adjusted PB Ratio is 3.23 as of Jul. 28, 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 LafargeHolcim Bangladesh (DHA:LHB) Overvalued in 2026?

Based on GuruFocus' analysis, LafargeHolcim Bangladesh stock appears to be undervalued. The current stock price of BDT58.50 is trading 3.7% below its estimated GF Value™ of BDT60.76. GuruFocus considers LafargeHolcim Bangladesh to be Fairly Valued.

Key valuation signals for DHA:LHB:

  • Cyclically Adjusted PB Ratio: 3.23 (18% below median its 10-year median of 3.96)
  • GF Value™: BDT60.76 vs. price of BDT58.50 (3.7% below fair value)
  • GF Score™: 90/100 with 5 warning signs
  • Industry Position: 223% above the Building Materials median (#273 of 321)

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


LafargeHolcim Bangladesh Business Description

Address Tejgaon Gulshan Link Road, NinaKabbo, Level-7, 227/A Bir Uttam Mir Shawkat Sarak, Dhaka, BGD, 1208
LafargeHolcim Bangladesh PLC is a frontline cement producer in Bangladesh. The company is engaged in the manufacturing and marketing cement in the local and international market. It operates a cement manufacturing plant at Chhatak. Company has divided it's operations in two business segments namely, Clinker and cement and Aggregates and derives majority revenue from the Clinker and cement segment.
90GF Score

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

BDT58.50
Price
BDT60.76
GF Value