GPAGF (GrumaB de CV) Cyclically Adjusted PB Ratio: 3.09 (As of Jul. 24, 2026) — 29% Below Median

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.

GPAGF Gruma SAB de CV GPAGF
92 GF Score
Price $16.42
GF Value $20.28
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is GrumaB de CV Cyclically Adjusted PB Ratio?

GrumaB de CV GPAGF 92 Cyclically Adjusted PB Ratio is 3.09 as of Jul. 24, 2026, which is 29% below its 10-year median of 4.33. GuruFocus rates GPAGF with a GF Score™ of 92/100 and a GF Value™ of $20.28 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,439 Consumer Packaged Goods companies, GrumaB de CV ranks worse than 77.41% on this metric.

As of today (2026-07-24), GrumaB de CV's current share price is $16.42. GrumaB de CV's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $5.32. GrumaB de CV's Cyclically Adjusted PB Ratio for today is 3.09.

The historical rank and industry rank for GrumaB de CV's Cyclically Adjusted PB Ratio or its related term are showing as below:

GPAGF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.85   Med: 4.33   Max: 8.6
Current: 2.85

During the past years, GrumaB de CV's highest Cyclically Adjusted PB Ratio was 8.60. The lowest was 2.85. And the median was 4.33.

GPAGF's Cyclically Adjusted PB Ratio is ranked worse than
77.41% of 1439 companies
in the Consumer Packaged Goods industry
Industry Median: 1.27 vs GPAGF: 2.85

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.

GrumaB de CV's adjusted book value per share data for the three months ended in Mar. 2026 was $6.752. 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 $5.32 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


GrumaB de CV  (OTCPK:GPAGF) 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.


GrumaB de CV Cyclically Adjusted PB Ratio Related Terms


GrumaB de CV Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for GrumaB de CV'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.

GrumaB de CV Cyclically Adjusted PB Ratio Chart

GrumaB de CV 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 4.26 3.80 4.11 3.91 3.39

GrumaB de CV Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 4.31 3.71 3.85 3.39 3.49

GPAGF vs KHC, GIS, HRL: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, GrumaB de CV'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.


GrumaB de CV Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, GrumaB de CV's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


GPAGF
92GF Score
Gruma SAB de CV GPAGF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

GrumaB de CV 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.

GrumaB de CV's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=16.42/5.32
=3.09

* 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.

GrumaB de CV's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, GrumaB de CV's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=6.752/166.0400*166.0400
=6.752

Current CPI (Mar. 2026) = 166.0400.

GrumaB de CV Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.491 101.905 4.059
201609 2.600 103.084 4.188
201612 2.663 105.002 4.211
201703 2.961 108.063 4.550
201706 2.931 108.339 4.492
201709 2.941 109.628 4.454
201712 3.073 112.114 4.551
201803 3.321 113.505 4.858
201806 3.011 113.373 4.410
201809 3.188 115.130 4.598
201812 3.138 117.530 4.433
201903 3.226 118.050 4.537
201906 3.144 117.848 4.430
201909 3.211 118.581 4.496
201912 3.386 120.854 4.652
202003 3.046 121.885 4.149
202006 3.007 121.777 4.100
202009 3.297 123.341 4.438
202012 3.595 124.661 4.788
202103 3.567 127.574 4.643
202106 3.603 128.936 4.640
202109 3.623 130.742 4.601
202112 3.772 133.830 4.680
202203 3.908 137.082 4.734
202206 3.607 139.233 4.301
202209 3.662 142.116 4.278
202212 3.872 144.291 4.456
202303 4.171 146.472 4.728
202306 4.215 146.272 4.785
202309 4.490 148.446 5.022
202312 4.986 151.017 5.482
202403 5.118 152.947 5.556
202406 5.068 153.551 5.480
202409 5.346 155.246 5.718
202412 5.414 157.378 5.712
202503 5.737 158.761 6.000
202506 5.900 160.180 6.116
202509 6.216 161.030 6.409
202512 6.485 163.190 6.598
202603 6.752 166.040 6.752

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 3.09 mean?
GrumaB de CV (GPAGF) has a Cyclically Adjusted PB Ratio of 3.09 as of Jul. 24, 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 GrumaB de CV and its competitors. This is 29% below median its historical median of 4.33. Over the past decade, GrumaB de CV's Cyclically Adjusted PB Ratio has ranged from 2.85 to 8.60. According to the industry distribution chart, GrumaB de CV ranks #1114 out of 1439 companies in the Consumer Packaged Goods industry, placing it in the top 77.4%.
Is GrumaB de CV's Cyclically Adjusted PB Ratio too high?
GrumaB de CV's current Cyclically Adjusted PB Ratio of 3.09 is 29% below median its 10-year median of 4.33. Over the past 10 years, this metric has ranged from a low of 2.85 to a high of 8.60. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.27. GrumaB de CV's value of 3.09 is 143.3% above this industry median. Based on the distribution chart, GrumaB de CV ranks #1114 out of 1439 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, GrumaB de CV has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does GrumaB de CV's Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, GrumaB de CV ranks #1114 out of 1439 companies for Cyclically Adjusted PB Ratio. This places GrumaB de CV in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. GrumaB de CV's value of 3.09 is 143.3% above this benchmark. Historically, GrumaB de CV's own Cyclically Adjusted PB Ratio has ranged from 2.85 to 8.60 over the past decade. While the company's 10-year median is 4.33 vs. the industry median of 1.27, GrumaB de CV has consistently been above the industry average. 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 Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.27, based on 1,439 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. GrumaB de CV's current Cyclically Adjusted PB Ratio of 3.09 is 143.3% above 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 GrumaB de CV and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GrumaB de CV's current Cyclically Adjusted PB Ratio is 3.09, which is 29% below median its own 10-year median of 4.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GrumaB de CV stock overvalued right now?
Based on GuruFocus' analysis, GrumaB de CV (GPAGF) is currently considered Modestly Undervalued. The stock's GF Value™ is $20.28, compared to a current price of $16.42 — trading 19% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.09, which is 29% below median its 10-year median of 4.33 and 143.3% above the Consumer Packaged Goods industry median of 1.27. GrumaB de CV's overall GF Score™ is 92/100 with 1 warning sign to review. 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 GrumaB de CV (GPAGF), the current Cyclically Adjusted PB Ratio is 3.09 as of Jul. 24, 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.

Is GrumaB de CV (GPAGF) Overvalued in 2026?

Based on GuruFocus' analysis, GrumaB de CV stock appears to be undervalued. The current stock price of $16.42 is trading 19% below its estimated GF Value™ of $20.28. GuruFocus considers GrumaB de CV to be Modestly Undervalued.

Key valuation signals for GPAGF:

  • Cyclically Adjusted PB Ratio: 3.09 (29% below median its 10-year median of 4.33)
  • GF Value™: $20.28 vs. price of $16.42 (19% below fair value)
  • GF Score™: 92/100 with 1 warning sign
  • Industry Position: 143.3% above the Consumer Packaged Goods median (#1114 of 1439)

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


GrumaB de CV Business Description

Address Calzada del Valle, 407 Ote., Colonia Del Valle, San Pedro Garza Garcia, NL, MEX, 66220
Gruma SAB de CV is an international food production company, originally from Mexico. The product portfolio is large: corn and flour tortillas, wheat flour, naan, pita bread, flatbreads, wraps, chapatti, and pizza bases, along with other food products, such as snacks, pasta, rice, condiments, and palm hearts. The company has operations in America, Europe, Asia, and Oceania, and is present in over 100 countries across the globe. Its well-known brands are Maseca, Robin Hood, Mission, Guerrero, Tortiricas and Tosty.
92GF Score

Get the complete analysis for GPAGF

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

$16.42
Price
$20.28
GF Value