GARWF (Golden Arrow Resources) Cyclically Adjusted PB Ratio: 0.40 (As of Jul. 26, 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.

What is Golden Arrow Resources Cyclically Adjusted PB Ratio?

Golden Arrow Resources GARWF +5.45% Cyclically Adjusted PB Ratio is 0.40 as of Jul. 26, 2026. The stock has 1 warning sign investors should review. Among 1,540 Metals & Mining companies, Golden Arrow Resources ranks better than 77.53% on this metric.

As of today (2026-07-26), Golden Arrow Resources's current share price is $0.0677. Golden Arrow Resources's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was $0.17. Golden Arrow Resources's Cyclically Adjusted PB Ratio for today is 0.40.

The historical rank and industry rank for Golden Arrow Resources's Cyclically Adjusted PB Ratio or its related term are showing as below:

GARWF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0   Med: 0   Max: 0.41
Current: 0.41

During the past years, Golden Arrow Resources's highest Cyclically Adjusted PB Ratio was 0.41. The lowest was 0.00. And the median was 0.00.

GARWF's Cyclically Adjusted PB Ratio is ranked better than
77.53% of 1540 companies
in the Metals & Mining industry
Industry Median: 1.41 vs GARWF: 0.41

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Golden Arrow Resources's adjusted book value per share data for the three months ended in Dec. 2025 was $0.023. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $0.17 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Golden Arrow Resources  (OTCPK:GARWF) 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.


Golden Arrow Resources Cyclically Adjusted PB Ratio Related Terms


Golden Arrow Resources Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Golden Arrow Resources'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.

Golden Arrow Resources Cyclically Adjusted PB Ratio Chart

Golden Arrow Resources 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 0.82 0.41 0.28 0.23 0.32

Golden Arrow Resources Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 0.23 0.25 0.21 0.32 0.32

Golden Arrow Resources Cyclically Adjusted PB Ratio Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Golden Arrow Resources'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.


Golden Arrow Resources Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Golden Arrow Resources's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Golden Arrow Resources 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.

Golden Arrow Resources's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.0677/0.17
=0.40

* 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.

Golden Arrow Resources's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, Golden Arrow Resources's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book=Book Value per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=0.023/130.3661*130.3661
=0.023

Current CPI (Dec. 2025) = 130.3661.

Golden Arrow Resources Quarterly Data

Book Value per Share CPI Adj_Book
201603 0.014 101.054 0.018
201606 0.057 102.002 0.073
201609 0.088 101.765 0.113
201612 0.083 101.449 0.107
201703 0.076 102.634 0.097
201706 0.416 103.029 0.526
201709 0.447 103.345 0.564
201712 0.403 103.345 0.508
201803 0.382 105.004 0.474
201806 0.332 105.557 0.410
201809 0.287 105.636 0.354
201812 0.280 105.399 0.346
201903 0.248 106.979 0.302
201906 0.238 107.690 0.288
201909 0.156 107.611 0.189
201912 0.186 107.769 0.225
202003 0.114 107.927 0.138
202006 0.184 108.401 0.221
202009 0.165 108.164 0.199
202012 0.165 108.559 0.198
202103 0.126 110.298 0.149
202106 0.128 111.720 0.149
202109 0.108 112.905 0.125
202112 0.112 113.774 0.128
202203 0.118 117.646 0.131
202206 0.089 120.806 0.096
202209 0.076 120.648 0.082
202212 0.067 120.964 0.072
202303 0.051 122.702 0.054
202306 0.038 124.203 0.040
202309 0.039 125.230 0.041
202312 0.033 125.072 0.034
202403 0.030 126.258 0.031
202406 0.017 127.522 0.017
202409 0.007 127.285 0.007
202412 0.024 127.364 0.025
202503 0.029 129.181 0.029
202506 0.031 129.892 0.031
202509 0.029 130.287 0.029
202512 0.023 130.366 0.023

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.

What does a Cyclically Adjusted PB Ratio of 0.40 mean?
Golden Arrow Resources (GARWF) has a Cyclically Adjusted PB Ratio of 0.40 as of Jul. 26, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Golden Arrow Resources and its competitors. According to the industry distribution chart, Golden Arrow Resources ranks #346 out of 1540 companies in the Metals & Mining industry, placing it in the top 22.5%.
Is Golden Arrow Resources' Cyclically Adjusted PB Ratio too high?
Golden Arrow Resources' current Cyclically Adjusted PB Ratio is 0.40. The Metals & Mining industry median Cyclically Adjusted PB Ratio is 1.41. Golden Arrow Resources' value of 0.40 is 71.6% below this industry median. Based on the distribution chart, Golden Arrow Resources ranks #346 out of 1540 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers.
How does Golden Arrow Resources' Cyclically Adjusted PB Ratio compare to competitors?
According to the Metals & Mining industry distribution chart, Golden Arrow Resources ranks #346 out of 1540 companies for Cyclically Adjusted PB Ratio. This places Golden Arrow Resources in the top 23% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.41. Golden Arrow Resources' value of 0.40 is 71.6% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Metals & Mining company?
The median Cyclically Adjusted PB Ratio among Metals & Mining companies is 1.41, based on 1,540 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Golden Arrow Resources's current Cyclically Adjusted PB Ratio of 0.40 is 71.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Golden Arrow Resources and its competitors. For the Metals & Mining industry, the median Cyclically Adjusted PB Ratio is 1.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Golden Arrow Resources's current Cyclically Adjusted PB Ratio is 0.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Golden Arrow Resources stock overvalued right now?
Golden Arrow Resources (GARWF) has a current Cyclically Adjusted PB Ratio of 0.40. The current Cyclically Adjusted PB Ratio is 0.40 and 71.6% below the Metals & Mining industry median of 1.41. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Golden Arrow Resources (GARWF), the current Cyclically Adjusted PB Ratio is 0.40 as of Jul. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Golden Arrow Resources Business Description

Address 837 West Hastings Street, Suite 411, Vancouver, BC, CAN, V6C 3N6
Golden Arrow Resources Corp is a natural resource company engaged in the acquisition, exploration, and development of resource properties in South America. The Company has a single reportable segment, being mineral exploration and development. Its projects include the Mogote Project, Argentina, the San Pietro Project, Atacama, Chile, the Caballos Project, Argentina, and others. The Company operates in Canada, Argentina, and Chile.