Thai Vegetable Oil PCL (FRA:TVTB) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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:TVTB Thai Vegetable Oil PCL FRA:TVTB
61 GF Score
Price €0.71
GF Value €0.58
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Thai Vegetable Oil PCL Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Thai Vegetable Oil PCL  (FRA:TVTB) 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.


Thai Vegetable Oil PCL Cyclically Adjusted PB Ratio Related Terms


Thai Vegetable Oil PCL Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Thai Vegetable Oil 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.

Thai Vegetable Oil PCL Cyclically Adjusted PB Ratio Chart

Thai Vegetable Oil 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 2.63 2.55 1.73 1.89 1.67

Thai Vegetable Oil 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 1.57 1.88 1.70 1.85 1.87

FRA:TVTB vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Thai Vegetable Oil 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.


Thai Vegetable Oil PCL Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Thai Vegetable Oil PCL's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:TVTB
61GF Score
Thai Vegetable Oil PCL FRA:TVTB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Thai Vegetable Oil 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.

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

For example, Thai Vegetable Oil 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)
=0.371/333.9520*333.9520
=0.371

Current CPI (Jun. 2026) = 333.9520.

Thai Vegetable Oil PCL Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.245 241.428 0.339
201612 0.265 241.432 0.367
201703 0.281 243.801 0.385
201706 0.237 244.955 0.323
201709 0.229 246.819 0.310
201712 0.246 246.524 0.333
201803 0.267 249.554 0.357
201806 0.262 251.989 0.347
201809 0.257 252.439 0.340
201812 0.267 251.233 0.355
201903 0.291 254.202 0.382
201906 0.285 256.143 0.372
201909 0.292 256.759 0.380
201912 0.303 256.974 0.394
202003 0.303 258.115 0.392
202006 0.306 257.797 0.396
202009 0.274 260.280 0.352
202012 0.292 260.474 0.374
202103 0.320 264.877 0.403
202106 0.310 271.696 0.381
202109 0.281 274.310 0.342
202112 0.293 278.802 0.351
202203 0.321 287.504 0.373
202206 0.328 296.311 0.370
202209 0.373 296.808 0.420
202212 0.323 296.797 0.363
202303 0.325 301.836 0.360
202306 0.291 305.109 0.319
202309 0.296 307.789 0.321
202312 0.312 306.746 0.340
202403 0.308 312.332 0.329
202406 0.308 314.175 0.327
202409 0.328 315.301 0.347
202412 0.361 315.605 0.382
202503 0.365 319.799 0.381
202506 0.344 322.561 0.356
202509 0.338 324.800 0.348
202512 0.364 324.054 0.375
202603 0.376 330.213 0.380
202606 0.371 333.952 0.371

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 Thai Vegetable Oil PCL (FRA:TVTB) Overvalued in 2026?

Based on GuruFocus' analysis, Thai Vegetable Oil PCL stock appears to be overvalued. The current stock price of €0.71 is trading 22.4% above its estimated GF Value™ of €0.58. GuruFocus considers Thai Vegetable Oil PCL to be Modestly Overvalued.

Key valuation signals for FRA:TVTB:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €0.58 vs. price of €0.71 (22.4% above fair value)
  • GF Score™: 61/100 with 5 warning signs

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


Thai Vegetable Oil PCL Business Description

Other Exchanges TVO:Thailand
Address 149 Ratchadapisek Road (Thapra-Taksin), Bukkhalo Sub-District, Thonburi District, Bangkok, THA, 10600
Thai Vegetable Oil PCL is engaged in the manufacture and distribution of soy meal and soybean oil. The company has three reportable segments, namely, the manufacture and distribution of products from the soybean segment, which derives key revenue and is engaged in the manufacturing and distribution of soy meal and soybean oil; the manufacture and distribution of packaging products; and the Other segment, which is the distribution of consumer products. The company operates in Thailand only.
61GF Score

Get the complete analysis for FRA:TVTB

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

€0.71
Price
€0.58
GF Value