PT Indah Kiat Pulp & Paper Tbk (FRA:IKP) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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:IKP PT Indah Kiat Pulp & Paper Tbk FRA:IKP
67 GF Score
Price €0.41
GF Value €0.43
Valuation Fairly Valued
! 5 Warning Signs
View Full Analysis

What is PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Indah Kiat Pulp & Paper Tbk  (FRA:IKP) 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.


PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Related Terms


PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PT Indah Kiat Pulp & Paper Tbk'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.

PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Chart

PT Indah Kiat Pulp & Paper Tbk 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 0.84 0.80 0.65 0.49 0.48

PT Indah Kiat Pulp & Paper Tbk 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 0.39 0.43 0.49 0.57 0.37

PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Competitor Comparison

For the Paper & Paper Products subindustry, PT Indah Kiat Pulp & Paper Tbk'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.


PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, PT Indah Kiat Pulp & Paper Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Indah Kiat Pulp & Paper Tbk's Cyclically Adjusted PB Ratio falls into.


FRA:IKP
67GF Score
PT Indah Kiat Pulp & Paper Tbk FRA:IKP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Indah Kiat Pulp & Paper Tbk 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.

PT Indah Kiat Pulp & Paper Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, PT Indah Kiat Pulp & Paper Tbk'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)
=1.15/137.6954*137.6954
=1.150

Current CPI (Jun. 2026) = 137.6954.

PT Indah Kiat Pulp & Paper Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.442 104.142 0.584
201612 0.489 105.222 0.640
201703 0.497 106.476 0.643
201706 0.478 107.722 0.611
201709 0.479 108.020 0.611
201712 0.490 109.017 0.619
201803 0.501 110.097 0.627
201806 0.551 111.085 0.683
201809 0.581 111.135 0.720
201812 0.603 112.430 0.739
201903 0.626 112.829 0.764
201906 0.623 114.730 0.748
201909 0.666 114.905 0.798
201912 0.652 115.486 0.777
202003 0.697 116.252 0.826
202006 0.684 116.630 0.808
202009 0.666 116.397 0.788
202012 0.635 117.318 0.745
202103 0.683 117.840 0.798
202106 0.698 118.184 0.813
202109 0.729 118.262 0.849
202112 0.765 119.516 0.881
202203 0.811 120.948 0.923
202206 0.898 123.322 1.003
202209 1.005 125.298 1.104
202212 0.960 126.098 1.048
202303 0.965 126.953 1.047
202306 0.981 127.663 1.058
202309 1.020 128.151 1.096
202312 0.993 129.395 1.057
202403 1.038 130.607 1.094
202406 1.068 130.792 1.124
202409 1.017 130.361 1.074
202412 1.131 131.432 1.185
202503 1.108 131.948 1.156
202506 1.021 133.241 1.055
202509 1.045 133.819 1.075
202512 1.065 135.271 1.084
202603 1.110 136.539 1.119
202606 1.150 137.695 1.150

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 PT Indah Kiat Pulp & Paper Tbk (FRA:IKP) Overvalued in 2026?

Based on GuruFocus' analysis, PT Indah Kiat Pulp & Paper Tbk stock appears to be undervalued. The current stock price of €0.41 is trading 5.6% below its estimated GF Value™ of €0.43. GuruFocus considers PT Indah Kiat Pulp & Paper Tbk to be Fairly Valued.

Key valuation signals for FRA:IKP:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €0.43 vs. price of €0.41 (5.6% below fair value)
  • GF Score™: 67/100 with 5 warning signs

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


PT Indah Kiat Pulp & Paper Tbk Business Description

Other Exchanges INKP:Indonesia
Address Jalan M.H. Thamrin No. 51, Tower 2, 9th Floor, Building Sinar Mas Land Plaza, Jakarta, IDN, 10350
PT Indah Kiat Pulp & Paper Tbk manufactures paper, pulp, and packaging paper. The company's operating segments are: cultural paper and pulp, which derives maximum revenue; and industrial paper and tissue products. Its cultural paper and pulp products segment consists of cultural paper and other related cultural paper products and pulp. The industrial paper and tissue products segment consists of linerboard, corrugating medium, corrugated shipping containers, and boxboard. Geographically, the company generates maximum revenue from Indonesia, and the rest from Asia, Europe, America, the Middle East, Africa, and Australia.
67GF Score

Get the complete analysis for FRA:IKP

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

€0.41
Price
€0.43
GF Value