GRNNF (Grand City Properties) Cyclically Adjusted PB Ratio: 0.29 (As of Sep. 15, 2026) — 28% Below Median

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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.

GRNNF Grand City Properties SA GRNNF
68 GF Score
Price $10.28
GF Value $13.05
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Grand City Properties Cyclically Adjusted PB Ratio?

Grand City Properties GRNNF 68 Cyclically Adjusted PB Ratio is 0.29 as of Sep. 15, 2026, which is 28% below its 10-year median of 0.40. GuruFocus rates GRNNF with a GF Score™ of 68/100 and a GF Value™ of $13.05 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,300 Real Estate companies, Grand City Properties ranks better than 73.85% on this metric.

As of today (2026-09-15), Grand City Properties's current share price is $10.28. Grand City Properties's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was $35.38. Grand City Properties's Cyclically Adjusted PB Ratio for today is 0.29.

The historical rank and industry rank for Grand City Properties's Cyclically Adjusted PB Ratio or its related term are showing as below:

GRNNF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.28   Med: 0.4   Max: 1.4
Current: 0.3

During the past years, Grand City Properties's highest Cyclically Adjusted PB Ratio was 1.40. The lowest was 0.28. And the median was 0.40.

GRNNF's Cyclically Adjusted PB Ratio is ranked better than
73.85% of 1300 companies
in the Real Estate industry
Industry Median: 0.66 vs GRNNF: 0.30

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.

Grand City Properties's adjusted book value per share data for the three months ended in Jun. 2026 was $30.737. 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 $35.38 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Grand City Properties  (OTCPK:GRNNF) 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.


Grand City Properties Cyclically Adjusted PB Ratio Related Terms


Grand City Properties Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Grand City Properties'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.

Grand City Properties Cyclically Adjusted PB Ratio Chart

Grand City Properties 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 1.16 0.45 0.44 0.44 0.39

Grand City Properties 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 0.43 0.44 0.40 0.36 0.35

GRNNF vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, Grand City Properties'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.


Grand City Properties Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Grand City Properties's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Grand City Properties's Cyclically Adjusted PB Ratio falls into.


GRNNF
68GF Score
Grand City Properties SA GRNNF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Grand City Properties 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.

Grand City Properties's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=10.28/35.38
=0.29

* 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.

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

For example, Grand City Properties'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)
=30.737/128.6000*128.6000
=30.737

Current CPI (Jun. 2026) = 128.6000.

Grand City Properties Quarterly Data

Book Value per Share CPI Adj_Book
201609 16.590 100.750 21.176
201612 16.305 101.040 20.752
201703 17.145 101.780 21.663
201706 18.580 102.170 23.386
201709 20.770 102.520 26.054
201712 23.052 102.410 28.947
201803 24.493 102.900 30.610
201806 23.256 103.650 28.854
201809 24.112 104.580 29.650
201812 24.851 104.320 30.635
201903 25.035 105.140 30.621
201906 25.177 105.550 30.675
201909 24.772 105.900 30.082
201912 26.234 106.080 31.803
202003 25.775 106.040 31.259
202006 26.560 106.340 32.120
202009 28.444 106.620 34.308
202012 30.159 106.670 36.359
202103 29.421 108.140 34.987
202106 29.775 108.680 35.232
202109 29.676 109.470 34.862
202112 31.426 111.090 36.379
202203 31.215 114.780 34.973
202206 30.172 116.750 33.234
202209 27.285 117.000 29.990
202212 29.024 117.060 31.885
202303 29.378 118.910 31.772
202306 27.163 120.460 28.999
202309 26.249 121.740 27.728
202312 25.594 121.170 27.163
202403 25.324 122.590 26.566
202406 24.306 123.120 25.388
202409 25.407 123.300 26.499
202412 24.707 122.430 25.952
202503 26.168 124.210 27.093
202506 29.096 125.820 29.739
202509 30.183 126.570 30.667
202512 31.424 126.180 32.027
202603 30.967 127.160 31.318
202606 30.737 128.600 30.737

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 0.29 mean?
Grand City Properties (GRNNF) has a Cyclically Adjusted PB Ratio of 0.29 as of Sep. 15, 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 Grand City Properties and its competitors. This is 28% below median its historical median of 0.40. Over the past decade, Grand City Properties' Cyclically Adjusted PB Ratio has ranged from 0.28 to 1.40. According to the industry distribution chart, Grand City Properties ranks #340 out of 1300 companies in the Real Estate industry, placing it in the top 26.2%.
Is Grand City Properties' Cyclically Adjusted PB Ratio too high?
Grand City Properties' current Cyclically Adjusted PB Ratio of 0.29 is 28% below median its 10-year median of 0.40. Over the past 10 years, this metric has ranged from a low of 0.28 to a high of 1.40. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.66. Grand City Properties' value of 0.29 is 56.1% below this industry median. Based on the distribution chart, Grand City Properties ranks #340 out of 1300 companies in the Real Estate industry, which is above the industry midpoint. Overall, Grand City Properties has a GF Score™ of 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Grand City Properties' Cyclically Adjusted PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Grand City Properties ranks #340 out of 1300 companies for Cyclically Adjusted PB Ratio. This puts Grand City Properties in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.66. Grand City Properties' value of 0.29 is 56.1% below this benchmark. Historically, Grand City Properties' own Cyclically Adjusted PB Ratio has ranged from 0.28 to 1.40 over the past decade. While the company's 10-year median is 0.40 vs. the industry median of 0.66, Grand City Properties has consistently been below 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 Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.66, based on 1,300 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. Grand City Properties's current Cyclically Adjusted PB Ratio of 0.29 is 56.1% 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 Grand City Properties and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Grand City Properties's current Cyclically Adjusted PB Ratio is 0.29, which is 28% below median its own 10-year median of 0.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grand City Properties stock overvalued right now?
Based on GuruFocus' analysis, Grand City Properties (GRNNF) is currently considered Modestly Undervalued. The stock's GF Value™ is $13.05, compared to a current price of $10.28 — trading 21.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.29, which is 28% below median its 10-year median of 0.40 and 56.1% below the Real Estate industry median of 0.66. Grand City Properties' overall GF Score™ is 68/100 with 7 warning signs 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 Grand City Properties (GRNNF), the current Cyclically Adjusted PB Ratio is 0.29 as of Sep. 15, 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 Grand City Properties (GRNNF) Overvalued in 2026?

Based on GuruFocus' analysis, Grand City Properties stock appears to be undervalued. The current stock price of $10.28 is trading 21.2% below its estimated GF Value™ of $13.05. GuruFocus considers Grand City Properties to be Modestly Undervalued.

Key valuation signals for GRNNF:

  • Cyclically Adjusted PB Ratio: 0.29 (28% below median its 10-year median of 0.40)
  • GF Value™: $13.05 vs. price of $10.28 (21.2% below fair value)
  • GF Score™: 68/100 with 7 warning signs
  • Industry Position: 56.1% below the Real Estate median (#340 of 1300)

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


Grand City Properties Business Description

Address 37, Boulevard Joseph II, Luxembourg, LUX, L-1840
Grand City Properties SA is a real estate company. It is a specialist real estate company focused on buying, redeveloping, optimizing, repositioning, investing, and managing value-add opportunities in the German real estate market. The company is also involved in asset and property management activities along with the real estate value chain. Its portfolio is mainly located in Berlin, North Rhine-Westphalia, Dresden, Leipzig, Halle, Nuremberg, Munich, Mannheim, Frankfurt, Bremen, Hamburg, and other cities. The company operates in Germany, the United Kingdom, and Others, out of which the majority of the revenue is generated from Germany.
68GF Score

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

$10.28
Price
$13.05
GF Value