Marico Bangladesh (DHA:MARICO) Cyclically Adjusted PB Ratio: 23.66 (As of Jul. 24, 2026) — Near 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:MARICO Marico Bangladesh Ltd DHA:MARICO
100 GF Score
Price BDT2,742.70
GF Value BDT3,286.94
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is Marico Bangladesh Cyclically Adjusted PB Ratio?

Marico Bangladesh DHA:MARICO -0.09% 100 Cyclically Adjusted PB Ratio is 23.66 as of Jul. 24, 2026, which is 0% above its 10-year median of 23.57. GuruFocus rates DHA:MARICO with a GF Score™ of 100/100 and a GF Value™ of BDT3,286.94 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,439 Consumer Packaged Goods companies, Marico Bangladesh ranks worse than 98.61% on this metric.

As of today (2026-07-24), Marico Bangladesh's current share price is BDT2742.70. Marico Bangladesh's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was BDT115.93. Marico Bangladesh's Cyclically Adjusted PB Ratio for today is 23.66.

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

DHA:MARICO' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 20.55   Med: 23.57   Max: 27.23
Current: 23.66

During the past years, Marico Bangladesh's highest Cyclically Adjusted PB Ratio was 27.23. The lowest was 20.55. And the median was 23.57.

DHA:MARICO's Cyclically Adjusted PB Ratio is ranked worse than
98.61% of 1439 companies
in the Consumer Packaged Goods industry
Industry Median: 1.27 vs DHA:MARICO: 23.66

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.

Marico Bangladesh's adjusted book value per share data for the three months ended in Mar. 2026 was BDT92.023. 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 BDT115.93 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Marico Bangladesh  (DHA:MARICO) 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.


Marico Bangladesh Cyclically Adjusted PB Ratio Related Terms


Marico Bangladesh Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Marico 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.

Marico Bangladesh Cyclically Adjusted PB Ratio Chart

Marico Bangladesh Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 26.90 21.37 23.56

Marico 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 21.37 21.50 25.10 23.59 23.56

DHA:MARICO vs PG, CL, KVUE: Cyclically Adjusted PB Ratio Comparison

For the Household & Personal Products subindustry, Marico 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.


Marico Bangladesh Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Marico Bangladesh's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


DHA:MARICO
100GF Score
Marico Bangladesh Ltd DHA:MARICO
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Marico 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=2742.70/115.93
=23.66

* 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.

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

For example, Marico 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)
=92.023/330.2130*330.2130
=92.023

Current CPI (Mar. 2026) = 330.2130.

Marico Bangladesh Quarterly Data

Book Value per Share CPI Adj_Book
201606 68.372 241.018 93.675
201609 66.863 241.428 91.452
201612 41.949 241.432 57.375
201703 50.162 243.801 67.941
201706 65.877 244.955 88.806
201709 75.367 246.819 100.832
201712 61.546 246.524 82.439
201803 47.384 249.554 62.699
201806 65.001 251.989 85.179
201809 55.299 252.439 72.336
201812 46.772 251.233 61.476
201903 41.338 254.202 53.699
201906 66.849 256.143 86.180
201909 58.488 256.759 75.220
201912 58.362 256.974 74.995
202003 44.053 258.115 56.358
202006 75.535 257.797 96.753
202009 50.568 260.280 64.155
202012 53.250 260.474 67.507
202103 51.955 264.877 64.771
202106 0.000 271.696 0.000
202109 74.689 274.310 89.910
202112 82.039 278.802 97.167
202203 85.367 287.504 98.048
202206 73.034 296.311 81.390
202209 53.882 296.808 59.946
202212 84.814 296.797 94.363
202303 113.851 301.836 124.555
202306 156.034 305.109 168.872
202309 193.143 307.789 207.214
202312 228.075 306.746 245.523
202403 260.637 312.332 275.558
202406 315.422 314.175 331.524
202409 241.943 315.301 253.386
202412 241.286 315.605 252.454
202503 239.132 319.799 246.919
202506 105.898 322.561 108.410
202509 94.651 324.800 96.228
202512 92.219 324.054 93.972
202603 92.023 330.213 92.023

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 23.66 mean?
Marico Bangladesh (DHA:MARICO) has a Cyclically Adjusted PB Ratio of 23.66 as of Jul. 24, 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 Marico Bangladesh and its competitors. This is near median its historical median of 23.57. Over the past decade, Marico Bangladesh's Cyclically Adjusted PB Ratio has ranged from 20.55 to 27.23. According to the industry distribution chart, Marico Bangladesh ranks #1419 out of 1439 companies in the Consumer Packaged Goods industry, placing it in the top 98.6%.
Is Marico Bangladesh's Cyclically Adjusted PB Ratio too high?
Marico Bangladesh's current Cyclically Adjusted PB Ratio of 23.66 is near median its 10-year median of 23.57. Over the past 10 years, this metric has ranged from a low of 20.55 to a high of 27.23. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.27. Marico Bangladesh's value of 23.66 is 1763% above this industry median. Based on the distribution chart, Marico Bangladesh ranks #1419 out of 1439 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Marico Bangladesh has a GF Score™ of 100/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Marico Bangladesh's Cyclically Adjusted PB Ratio compare to PG and CL?
According to the Consumer Packaged Goods industry distribution chart, Marico Bangladesh ranks #1419 out of 1439 companies for Cyclically Adjusted PB Ratio. This places Marico Bangladesh in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. Marico Bangladesh's value of 23.66 is 1763% above this benchmark. Historically, Marico Bangladesh's own Cyclically Adjusted PB Ratio has ranged from 20.55 to 27.23 over the past decade. While the company's 10-year median is 23.57 vs. the industry median of 1.27, Marico 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 Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.27, based on 1,439 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. Marico Bangladesh's current Cyclically Adjusted PB Ratio of 23.66 is 1763% 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 Marico Bangladesh and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Marico Bangladesh's current Cyclically Adjusted PB Ratio is 23.66, which is near median its own 10-year median of 23.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marico Bangladesh stock overvalued right now?
Based on GuruFocus' analysis, Marico Bangladesh (DHA:MARICO) is currently considered Modestly Undervalued. The stock's GF Value™ is BDT3,286.94, compared to a current price of BDT2,742.70 — trading 16.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 23.66, which is near median its 10-year median of 23.57 and 1763% above the Consumer Packaged Goods industry median of 1.27. Marico Bangladesh's overall GF Score™ is 100/100 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 Marico Bangladesh (DHA:MARICO), the current Cyclically Adjusted PB Ratio is 23.66 as of Jul. 24, 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 Marico Bangladesh (DHA:MARICO) Overvalued in 2026?

Based on GuruFocus' analysis, Marico Bangladesh stock appears to be undervalued. The current stock price of BDT2,742.70 is trading 16.6% below its estimated GF Value™ of BDT3,286.94. GuruFocus considers Marico Bangladesh to be Modestly Undervalued.

Key valuation signals for DHA:MARICO:

  • Cyclically Adjusted PB Ratio: 23.66 (near median its 10-year median of 23.57)
  • GF Value™: BDT3,286.94 vs. price of BDT2,742.70 (16.6% below fair value)
  • GF Score™: 100/100 with 7 warning signs
  • Industry Position: 1763% above the Consumer Packaged Goods median (#1419 of 1439)

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


Marico Bangladesh Business Description

Address Gulshan Avenue, The Glass House, Level-06, Plot. 02, Block. SE (B), Dhaka, BGD, 1212
Marico Bangladesh Ltd is engaged in the manufacturing and marketing of various fast-moving consumer goods in Bangladesh. The company provides products like Hair dye, Baby care, Male grooming, Skincare, and Hair serum products, among others. Its product portfolio include brands like Parachute, Parachute Advansed, Just For Baby, Nihar, Parachute SkinPure, Parachute Naturale, Saffola Active, HairCode, and Livon. The company generates its revenue from products like Parachute coconut oil, value-added hair oil, color products, and others, with the majority of revenue coming from Parachute coconut oil.
100GF Score

Get the complete analysis for DHA:MARICO

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

BDT2,742.70
Price
BDT3,286.94
GF Value