Mahindra & Mahindra (FRA:MOM) Cyclically Adjusted PB Ratio: (As of Aug. 03, 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.
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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:MOM Mahindra & Mahindra Ltd FRA:MOM
82 GF Score
Price €29.80
GF Value €34.31
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Mahindra & Mahindra Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Mahindra & Mahindra  (FRA:MOM) 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.


Mahindra & Mahindra Cyclically Adjusted PB Ratio Related Terms


Mahindra & Mahindra Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Mahindra & Mahindra'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.

Mahindra & Mahindra Cyclically Adjusted PB Ratio Chart

Mahindra & Mahindra Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.46 3.14 4.68 5.92 5.83

Mahindra & Mahindra 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 7.07 0.00 5.83 0.00

FRA:MOM vs TSLA, GM, F: Cyclically Adjusted PB Ratio Comparison

For the Auto Manufacturers subindustry, Mahindra & Mahindra'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.


Mahindra & Mahindra Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Mahindra & Mahindra's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:MOM
82GF Score
Mahindra & Mahindra Ltd FRA:MOM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mahindra & Mahindra 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.

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

For example, Mahindra & Mahindra'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)
=0/166.1454*166.1454
=0.000

Current CPI (Jun. 2026) = 166.1454.

Mahindra & Mahindra Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.000 105.961 0.000
201609 0.000 105.961 0.000
201703 3.402 105.196 5.373
201706 0.000 107.109 0.000
201709 0.000 109.021 0.000
201712 0.000 109.404 0.000
201803 3.688 109.786 5.581
201806 0.000 111.317 0.000
201809 0.000 115.142 0.000
201812 0.000 115.142 0.000
201903 4.096 118.202 5.757
201906 0.000 120.880 0.000
201909 4.216 123.175 5.687
201912 0.000 126.235 0.000
202003 3.903 124.705 5.200
202006 0.000 127.000 0.000
202009 3.717 130.118 4.746
202012 0.000 130.889 0.000
202103 3.858 131.771 4.864
202106 0.000 134.084 0.000
202109 4.003 135.847 4.896
202112 0.000 138.161 0.000
202203 5.050 138.822 6.044
202206 0.000 142.347 0.000
202209 5.113 144.661 5.872
202212 0.000 145.763 0.000
202303 5.146 146.865 5.822
202306 0.000 150.280 0.000
202309 5.486 151.492 6.017
202312 0.000 152.924 0.000
202403 6.580 153.035 7.144
202406 0.000 155.789 0.000
202409 6.324 157.882 6.655
202412 0.000 158.323 0.000
202503 6.866 157.552 7.241
202506 0.000 159.755 0.000
202509 6.659 162.289 6.817
202512 0.000 163.281 0.000
202603 7.225 164.272 7.307
202606 0.000 166.145 0.000

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 Mahindra & Mahindra (FRA:MOM) Overvalued in 2026?

Based on GuruFocus' analysis, Mahindra & Mahindra stock appears to be undervalued. The current stock price of €29.80 is trading 13.1% below its estimated GF Value™ of €34.31. GuruFocus considers Mahindra & Mahindra to be Modestly Undervalued.

Key valuation signals for FRA:MOM:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €34.31 vs. price of €29.80 (13.1% below fair value)
  • GF Score™: 82/100 with 3 warning signs

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


Mahindra & Mahindra Business Description

Address Dr. G. M. Bhosale Marg, Mahindra Towers, 2nd Floor, Worli, Mumbai, MH, IND, 400018
Mahindra & Mahindra Ltd is a holding company. The company's segment includes Automotive; Farm Equipment and Services. It generates maximum revenue from the Automotive segment. The Automotive segment comprises the sale of automobiles, spares, mobility solutions, construction equipment, and related services. Geographically, it derives a majority of its revenue from India.
82GF Score

Get the complete analysis for FRA:MOM

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

€29.80
Price
€34.31
GF Value