Krung Thai Bank PCL (FRA:KTB1) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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FRA:KTB1 Krung Thai Bank PCL FRA:KTB1
44 GF Score
Price €1.15
GF Value €0.54
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Krung Thai Bank PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Krung Thai Bank PCL  (FRA:KTB1) 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.


Krung Thai Bank PCL Cyclically Adjusted PB Ratio Related Terms


Krung Thai Bank PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Krung Thai Bank PCL'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.

Krung Thai Bank PCL Cyclically Adjusted PB Ratio Chart

Krung Thai Bank PCL 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 0.55 0.69 0.65 0.73 0.94

Krung Thai Bank PCL 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 0.68 0.79 0.98 1.08 1.15

Krung Thai Bank PCL Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, Krung Thai Bank PCL'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.


Krung Thai Bank PCL Cyclically Adjusted PB Ratio vs Banks Industry

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

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


FRA:KTB1
44GF Score
Krung Thai Bank PCL FRA:KTB1
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Krung Thai Bank PCL 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.

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

For example, Krung Thai Bank PCL'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)
=0.896/333.9520*333.9520
=0.896

Current CPI (Jun. 2026) = 333.9520.

Krung Thai Bank PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.507 241.428 0.701
201612 0.529 241.432 0.732
201703 0.561 243.801 0.768
201706 0.516 244.955 0.703
201709 0.525 246.819 0.710
201712 0.538 246.524 0.729
201803 0.558 249.554 0.747
201806 0.547 251.989 0.725
201809 0.581 252.439 0.769
201812 0.604 251.233 0.803
201903 0.650 254.202 0.854
201906 0.670 256.143 0.874
201909 0.740 256.759 0.962
201912 0.741 256.974 0.963
202003 0.673 258.115 0.871
202006 0.718 257.797 0.930
202009 0.673 260.280 0.863
202012 0.693 260.474 0.888
202103 0.689 264.877 0.869
202106 0.670 271.696 0.824
202109 0.670 274.310 0.816
202112 0.704 278.802 0.843
202203 0.728 287.504 0.846
202206 0.716 296.311 0.807
202209 0.730 296.808 0.821
202212 0.760 296.797 0.855
202303 0.783 301.836 0.866
202306 0.747 305.109 0.818
202309 0.758 307.789 0.822
202312 0.798 306.746 0.869
202403 0.793 312.332 0.848
202406 0.783 314.175 0.832
202409 0.893 315.301 0.946
202412 0.933 315.605 0.987
202503 0.925 319.799 0.966
202506 0.873 322.561 0.904
202509 0.908 324.800 0.934
202512 0.941 324.054 0.970
202603 0.930 330.213 0.941
202606 0.896 333.952 0.896

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 Krung Thai Bank PCL (FRA:KTB1) Overvalued in 2026?

Based on GuruFocus' analysis, Krung Thai Bank PCL stock appears to be overvalued. The current stock price of €1.15 is trading 113% above its estimated GF Value™ of €0.54. GuruFocus considers Krung Thai Bank PCL to be Significantly Overvalued.

Key valuation signals for FRA:KTB1:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €0.54 vs. price of €1.15 (113% above fair value)
  • GF Score™: 44/100 with 7 warning signs

No single metric tells the full story. See the FRA:KTB1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Krung Thai Bank PCL Business Description

Address 35 Sukhumvit Road, Klongtoey Nua Subdistrict, Wattana District, Bangkok, THA, 10110
Krung Thai Bank PCL is a commercial bank in Thailand conducting its business through a nationwide branch network and in certain centers of the world. The company operates in the following reportable segments: Retail banking, Corporate banking, and Treasury and investments. Maximum revenue is generated from its Retail banking segment, which develops financial products and services and also provides services for individual customers relating to deposits, loans, payment for goods and services, and others. The Corporate Banking segment provides credit facilities and financial services to corporate clients, and the Treasury and Investments segment controls the bank's financial structure and manages its equity investments, international business, and excess liquidity.
44GF Score

Get the complete analysis for FRA:KTB1

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

€1.15
Price
€0.54
GF Value