Trust Bank (DHA:TRUSTBANK) Cyclically Adjusted PB Ratio: (As of Aug. 06, 2026)

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:TRUSTBANK Trust Bank PLC DHA:TRUSTBANK
68 GF Score
Price BDT15.50
GF Value BDT21.88
Valuation Modestly Undervalued
! 1 Warning Sign
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What is Trust Bank Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Trust Bank  (DHA:TRUSTBANK) 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.


Trust Bank Cyclically Adjusted PB Ratio Related Terms


Trust Bank Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Trust Bank'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.

Trust Bank Cyclically Adjusted PB Ratio Chart

Trust Bank 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 0.00 0.00 0.00 0.00 0.80

Trust Bank 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 0.00 0.84 0.80 0.78 0.00

Trust Bank Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, Trust Bank'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.


Trust Bank Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Trust Bank's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


DHA:TRUSTBANK
68GF Score
Trust Bank PLC DHA:TRUSTBANK
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Trust Bank 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.

Trust Bank's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Trust Bank'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)
=30.08/333.9520*333.9520
=30.080

Current CPI (Jun. 2026) = 333.9520.

Trust Bank Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.000 241.428 0.000
201612 11.034 241.432 15.262
201703 11.578 243.801 15.859
201706 11.397 244.955 15.538
201709 11.959 246.819 16.181
201712 11.952 246.524 16.191
201803 0.000 249.554 0.000
201806 0.000 251.989 0.000
201809 0.000 252.439 0.000
201812 12.667 251.233 16.838
201903 13.070 254.202 17.170
201906 13.707 256.143 17.871
201909 14.251 256.759 18.535
201912 14.638 256.974 19.023
202003 15.197 258.115 19.662
202006 15.907 257.797 20.606
202009 17.109 260.280 21.952
202012 16.662 260.474 21.362
202103 17.279 264.877 21.785
202106 18.736 271.696 23.029
202109 18.601 274.310 22.645
202112 17.828 278.802 21.355
202203 18.704 287.504 21.726
202206 19.279 296.311 21.728
202209 19.391 296.808 21.818
202212 19.280 296.797 21.694
202303 19.426 301.836 21.493
202306 20.419 305.109 22.349
202309 20.764 307.789 22.529
202312 22.118 306.746 24.080
202403 22.311 312.332 23.855
202406 23.277 314.175 24.742
202409 23.384 315.301 24.767
202412 24.224 315.605 25.632
202503 24.743 319.799 25.838
202506 25.754 322.561 26.663
202509 26.952 324.800 27.711
202512 27.161 324.054 27.991
202603 27.804 330.213 28.119
202606 30.080 333.952 30.080

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.

Is Trust Bank (DHA:TRUSTBANK) Overvalued in 2026?

Based on GuruFocus' analysis, Trust Bank stock appears to be undervalued. The current stock price of BDT15.50 is trading 29.2% below its estimated GF Value™ of BDT21.88. GuruFocus considers Trust Bank to be Modestly Undervalued.

Key valuation signals for DHA:TRUSTBANK:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: BDT21.88 vs. price of BDT15.50 (29.2% below fair value)
  • GF Score™: 68/100 with 1 warning sign

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


Trust Bank Business Description

Address Shadhinata Tower, Bir Srestha Shaheed Jahangir Gate, Dhaka Cantonment, Dhaka, BGD, 1206
Trust Bank PLC is a full-service commercial bank. The Bank offers a wide range of banking products and services, such as Retail banking, SME banking, Islamic banking, corporate banking, and international banking, among others. The bank provides a range of banking services that include deposit banking, loans & advances, export-import financing, and national & international remittance facilities, issuing debit and credit cards, SMS banking, internet banking, call center, dealing in government securities, etc.
68GF Score

Get the complete analysis for DHA:TRUSTBANK

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

BDT15.50
Price
BDT21.88
GF Value