GFT Technologies SE (HAM:GFT) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.

HAM:GFT GFT Technologies SE HAM:GFT
77 GF Score
Price €26.55
GF Value €23.82
Valuation Modestly Overvalued
! 7 Warning Signs
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What is GFT Technologies SE Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


GFT Technologies SE  (HAM:GFT) 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.


GFT Technologies SE Cyclically Adjusted PB Ratio Related Terms


GFT Technologies SE Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for GFT Technologies SE'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.

GFT Technologies SE Cyclically Adjusted PB Ratio Chart

GFT Technologies SE 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 9.58 6.12 5.01 3.21 2.50

GFT Technologies SE 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 3.40 2.52 2.59 2.20 2.78

HAM:GFT vs IBM, ACN, CTSH: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, GFT Technologies SE'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.


GFT Technologies SE Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, GFT Technologies SE's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where GFT Technologies SE's Cyclically Adjusted PB Ratio falls into.


HAM:GFT
77GF Score
GFT Technologies SE HAM:GFT
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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GFT Technologies SE 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.

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

For example, GFT Technologies SE'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)
=10.827/131.3638*131.3638
=10.827

Current CPI (Jun. 2026) = 131.3638.

GFT Technologies SE Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.816 101.017 6.263
201612 4.451 101.217 5.777
201703 4.623 101.417 5.988
201706 4.341 102.117 5.584
201709 4.489 102.717 5.741
201712 4.381 102.617 5.608
201803 4.556 102.917 5.815
201806 4.470 104.017 5.645
201809 4.666 104.718 5.853
201812 4.828 104.217 6.086
201903 4.968 104.217 6.262
201906 4.695 105.718 5.834
201909 4.897 106.018 6.068
201912 5.057 105.818 6.278
202003 4.876 105.718 6.059
202006 4.618 106.618 5.690
202009 4.676 105.818 5.805
202012 4.867 105.518 6.059
202103 5.191 107.518 6.342
202106 5.328 108.486 6.452
202109 5.636 109.435 6.765
202112 6.103 110.384 7.263
202203 6.617 113.968 7.627
202206 6.740 115.760 7.648
202209 7.295 118.818 8.065
202212 7.638 119.345 8.407
202303 8.051 122.402 8.640
202306 8.148 123.140 8.692
202309 8.685 124.195 9.186
202312 9.157 123.773 9.719
202403 9.596 125.038 10.081
202406 9.330 125.882 9.736
202409 9.710 126.198 10.107
202412 10.301 127.041 10.651
202503 10.424 127.779 10.716
202506 9.541 128.412 9.760
202509 9.578 129.255 9.734
202512 10.289 129.361 10.448
202603 10.853 131.258 10.862
202606 10.827 131.364 10.827

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 GFT Technologies SE (HAM:GFT) Overvalued in 2026?

Based on GuruFocus' analysis, GFT Technologies SE stock appears to be overvalued. The current stock price of €26.55 is trading 11.5% above its estimated GF Value™ of €23.82. GuruFocus considers GFT Technologies SE to be Modestly Overvalued.

Key valuation signals for HAM:GFT:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €23.82 vs. price of €26.55 (11.5% above fair value)
  • GF Score™: 77/100 with 7 warning signs

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


GFT Technologies SE Business Description

Address Schelmenwasenstrasse 34, Stuttgart, BW, DEU, 70567
GFT Technologies SE is engaged in shaping the digital transformation of companies in the financial and insurance sectors, as well as in the manufacturing industry. As an IT service provider and developer of digital solutions, it offers consulting, development, and implementation skills across all aspects of pioneering technologies from cloud engineering to artificial intelligence and blockchain. The company has operating segments; The Americas, UK & APAC comprises operating companies in the following countries: Brazil, Chile, Costa Rica, Singapore, the United Kingdom, the United States of America, Canada, Vietnam, and others; Continental Europe comprises operating companies in the following countries: Belgium, Poland, Germany, Switzerland, France, Spain, and Italy; and Others.
77GF Score

Get the complete analysis for HAM:GFT

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

€26.55
Price
€23.82
GF Value