MBIA (FRA:MBJ) 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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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:MBJ MBIA Inc FRA:MBJ
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What is MBIA Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


MBIA  (FRA:MBJ) 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.


MBIA Cyclically Adjusted PB Ratio Related Terms


MBIA Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for MBIA'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.

MBIA Cyclically Adjusted PB Ratio Chart

MBIA 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 0.83 1.01 0.74 4.17 -

MBIA 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 5.96 - - - -

FRA:MBJ vs FACO, OSG, JRVR: Cyclically Adjusted PB Ratio Comparison

For the Insurance - Specialty subindustry, MBIA'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.


MBIA Cyclically Adjusted PB Ratio vs Insurance Industry

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

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


FRA:MBJ
28GF Score
MBIA Inc FRA:MBJ
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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MBIA 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.

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

For example, MBIA'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)
=-39.742/333.9520*333.9520
=-39.742

Current CPI (Jun. 2026) = 333.9520.

MBIA Quarterly Data

Book Value per Share CPI Adj_Book
201609 24.061 241.428 33.282
201612 22.713 241.432 31.417
201703 23.209 243.801 31.791
201706 13.630 244.955 18.582
201709 11.818 246.819 15.990
201712 12.972 246.524 17.572
201803 11.469 249.554 15.348
201806 10.534 251.989 13.960
201809 10.633 252.439 14.066
201812 11.025 251.233 14.655
201903 11.861 254.202 15.582
201906 10.904 256.143 14.216
201909 11.946 256.759 15.537
201912 9.410 256.974 12.229
202003 6.277 258.115 8.121
202006 5.128 257.797 6.643
202009 3.843 260.280 4.931
202012 2.269 260.474 2.909
202103 -0.438 264.877 -0.552
202106 -0.356 271.696 -0.438
202109 -2.490 274.310 -3.031
202112 -4.835 278.802 -5.791
202203 -9.044 287.504 -10.505
202206 -12.806 296.311 -14.433
202209 -15.786 296.808 -17.762
202212 -14.964 296.797 -16.837
202303 -15.055 301.836 -16.657
202306 -17.401 305.109 -19.046
202309 -22.680 307.789 -24.608
202312 -29.313 306.746 -31.913
202403 -31.114 312.332 -33.268
202406 -36.296 314.175 -38.581
202409 -34.907 315.301 -36.972
202412 -39.333 315.605 -41.620
202503 -38.835 319.799 -40.554
202506 -36.531 322.561 -37.821
202509 -36.527 324.800 -37.556
202512 -37.592 324.054 -38.740
202603 -38.817 330.213 -39.257
202606 -39.742 333.952 -39.742

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.


MBIA Business Description

Other Exchanges MBI:USA
Address 1 Manhattanville Road, Suite 202, Purchase, NY, USA, 10577
MBIA Inc provides financial guaranty insurance for municipal bonds and asset-backed securities in the United States and internationally. It offers an unconditional guarantee to repay the principal and interest on these securities if the issuer defaults. MBIA insures bonds sold in the primary and secondary markets, as well as those held in unit investment trusts and mutual funds. It operates in three segments: the United States Public Finance Insurance, which derives maximum revenue, Corporate, and International & Structured Finance Insurance. The U.S. public finance insurance portfolio is managed through the National Public Finance Guarantee Corporation. International & structured finance insurance business is managed through MBIA Insurance Corporation and its subsidiaries.
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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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