Industrial Bank of Korea (FRA:49DA) Cyclically Adjusted PB Ratio: (As of Aug. 19, 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.

FRA:49DA Industrial Bank of Korea FRA:49DA
18 GF Score
Price €11.60
GF Value €10.88
Valuation Fairly Valued
! 5 Warning Signs
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What is Industrial Bank of Korea Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Industrial Bank of Korea  (FRA:49DA) 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.


Industrial Bank of Korea Cyclically Adjusted PB Ratio Related Terms


Industrial Bank of Korea Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Industrial Bank of Korea'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.

Industrial Bank of Korea Cyclically Adjusted PB Ratio Chart

Industrial Bank of Korea 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 0.31 0.27 0.31 0.36 0.51

Industrial Bank of Korea 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 0.45 0.48 0.51 0.51 0.00

Industrial Bank of Korea Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, Industrial Bank of Korea'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.


Industrial Bank of Korea Cyclically Adjusted PB Ratio vs Banks Industry

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

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


FRA:49DA
18GF Score
Industrial Bank of Korea FRA:49DA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Industrial Bank of Korea 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.

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

For example, Industrial Bank of Korea'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)
=26.711/126.4904*126.4904
=26.711

Current CPI (Jun. 2026) = 126.4904.

Industrial Bank of Korea Quarterly Data

Book Value per Share CPI Adj_Book
201609 25.493 101.461 31.782
201612 24.985 101.561 31.118
201703 26.228 102.851 32.256
201706 25.790 102.611 31.792
201709 25.160 103.491 30.752
201712 26.765 102.991 32.872
201803 26.132 104.101 31.752
201806 27.618 104.130 33.548
201809 27.655 105.651 33.110
201812 28.659 104.351 34.739
201903 28.868 104.491 34.946
201906 28.427 104.881 34.284
201909 29.177 105.200 35.082
201912 29.432 105.121 35.415
202003 28.914 105.354 34.715
202006 25.638 105.112 30.852
202009 23.883 106.198 28.447
202012 24.955 105.765 29.845
202103 25.319 107.357 29.831
202106 25.627 107.579 30.132
202109 25.653 108.759 29.835
202112 27.014 109.676 31.155
202203 26.473 111.848 29.939
202206 26.558 114.072 29.449
202209 26.756 114.715 29.502
202212 26.420 115.179 29.015
202303 26.427 116.507 28.691
202306 27.000 117.182 29.145
202309 27.042 118.964 28.753
202312 27.711 118.837 29.496
202403 27.383 120.123 28.834
202406 27.223 120.007 28.694
202409 28.219 120.861 29.533
202412 28.046 121.135 29.286
202503 26.882 122.590 27.737
202506 27.611 122.611 28.485
202509 27.013 123.402 27.689
202512 26.479 123.939 27.024
202603 26.617 125.236 26.884
202606 26.711 126.490 26.711

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 Industrial Bank of Korea (FRA:49DA) Overvalued in 2026?

Based on GuruFocus' analysis, Industrial Bank of Korea stock appears to be overvalued. The current stock price of €11.60 is trading 6.6% above its estimated GF Value™ of €10.88. GuruFocus considers Industrial Bank of Korea to be Fairly Valued.

Key valuation signals for FRA:49DA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €10.88 vs. price of €11.60 (6.6% above fair value)
  • GF Score™: 18/100 with 5 warning signs

No single metric tells the full story. See the FRA:49DA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Industrial Bank of Korea Business Description

Other Exchanges 024110:Korea
Address 79 Euljiro, Jung-gu, Seoul, KOR
Industrial Bank of Korea is a financial institution domiciled in Korea. It offers financial services such as foreign exchange, remittances, and digital banking. Its products include deposit accounts, debit cards, and remittance options for foreign customers. The bank provides personal banking and wealth services for individuals, and loans, overdrafts, and credit facilities for businesses. It operates through a broad branch network and mobile-banking platforms. The company principally earns revenue from interest income.
18GF Score

Get the complete analysis for FRA:49DA

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

€11.60
Price
€10.88
GF Value