GBSMF (Ginebran Miguel) 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.

GBSMF Ginebra San Miguel Inc GBSMF
88 GF Score
Price $2.09
GF Value $2.80
! 1 Warning Sign
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What is Ginebran Miguel Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ginebran Miguel  (OTCPK:GBSMF) 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.


Ginebran Miguel Cyclically Adjusted PB Ratio Related Terms


Ginebran Miguel Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ginebran Miguel'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.

Ginebran Miguel Cyclically Adjusted PB Ratio Chart

Ginebran Miguel 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 4.07 3.69 3.22 2.76 2.27

Ginebran Miguel 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 2.66 2.56 2.40 2.28 2.18

GBSMF vs BF.B: Cyclically Adjusted PB Ratio Comparison

For the Beverages - Wineries & Distilleries subindustry, Ginebran Miguel'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.


Ginebran Miguel Cyclically Adjusted PB Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Ginebran Miguel's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


GBSMF
88GF Score
Ginebra San Miguel Inc GBSMF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Ginebran Miguel 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.

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

For example, Ginebran Miguel'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)
=1.588/333.9520*333.9520
=1.588

Current CPI (Jun. 2026) = 333.9520.

Ginebran Miguel Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.316 241.428 0.437
201612 0.311 241.432 0.430
201703 0.320 243.801 0.438
201706 0.328 244.955 0.447
201709 0.339 246.819 0.459
201712 0.351 246.524 0.475
201803 0.354 249.554 0.474
201806 0.359 251.989 0.476
201809 0.373 252.439 0.493
201812 0.412 251.233 0.548
201903 0.428 254.202 0.562
201906 0.454 256.143 0.592
201909 0.466 256.759 0.606
201912 0.487 256.974 0.633
202003 0.509 258.115 0.659
202006 0.569 257.797 0.737
202009 0.646 260.280 0.829
202012 0.684 260.474 0.877
202103 0.672 264.877 0.847
202106 0.717 271.696 0.881
202109 0.736 274.310 0.896
202112 0.785 278.802 0.940
202203 0.845 287.504 0.982
202206 0.839 296.311 0.946
202209 0.814 296.808 0.916
202212 0.902 296.797 1.015
202303 1.041 301.836 1.152
202306 1.078 305.109 1.180
202309 1.095 307.789 1.188
202312 1.157 306.746 1.260
202403 1.214 312.332 1.298
202406 1.218 314.175 1.295
202409 1.331 315.301 1.410
202412 1.321 315.605 1.398
202503 1.395 319.799 1.457
202506 1.478 322.561 1.530
202509 1.488 324.800 1.530
202512 1.541 324.054 1.588
202603 1.558 330.213 1.576
202606 1.588 333.952 1.588

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 Ginebran Miguel (GBSMF) Overvalued in 2026?

Based on GuruFocus' analysis, Ginebran Miguel stock appears to be undervalued. The current stock price of $2.09 is trading 25.4% below its estimated GF Value™ of $2.80.

Key valuation signals for GBSMF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $2.80 vs. price of $2.09 (25.4% below fair value)
  • GF Score™: 88/100 with 1 warning sign

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


Ginebran Miguel Business Description

Other Exchanges GSMI:Philippines
Address St. Francis Street, Ortigas Center, 3rd and 6th Floor, San Miguel Properties Centre, Mandaluyong, PHL, 1550
Ginebra San Miguel Inc manufactures and sells alcoholic beverages in the Philippines. It offers alcoholic beverages, under the following brand names: Ginebra San Miguel gin, GSM Blue, GSM Blue Flavors, Ginebra San Miguel Premium Gin, Antonov Vodka, Primera Light Brandy, Vino Kulafu, and Antonov vodka.
88GF Score

Get the complete analysis for GBSMF

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

$2.09
Price
$2.80
GF Value