Vietnam Manufacturing and Export Processing (Holdings) (HKSE:00422) 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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HKSE:00422 Vietnam Manufacturing and Export Processing (Holdings) Ltd HKSE:00422
29 GF Score
Price HK$0.26
GF Value HK$0.40
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Vietnam Manufacturing and Export Processing (Holdings) Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Vietnam Manufacturing and Export Processing (Holdings)  (HKSE:00422) 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.


Vietnam Manufacturing and Export Processing (Holdings) Cyclically Adjusted PB Ratio Related Terms


Vietnam Manufacturing and Export Processing (Holdings) Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Vietnam Manufacturing and Export Processing (Holdings)'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.

Vietnam Manufacturing and Export Processing (Holdings) Cyclically Adjusted PB Ratio Chart

Vietnam Manufacturing and Export Processing (Holdings) 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 0.22 0.24 0.73 0.59 0.39

Vietnam Manufacturing and Export Processing (Holdings) Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Sep23 Mar24 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 0.57 0.48 0.39 0.37 0.35

HKSE:00422 vs BC, THO, PII: Cyclically Adjusted PB Ratio Comparison

For the Recreational Vehicles subindustry, Vietnam Manufacturing and Export Processing (Holdings)'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.


Vietnam Manufacturing and Export Processing (Holdings) Cyclically Adjusted PB Ratio vs Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Vietnam Manufacturing and Export Processing (Holdings)'s Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Vietnam Manufacturing and Export Processing (Holdings)'s Cyclically Adjusted PB Ratio falls into.


HKSE:00422
29GF Score
Vietnam Manufacturing and Export Processing (Holdings) Ltd HKSE:00422
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vietnam Manufacturing and Export Processing (Holdings) 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.

Vietnam Manufacturing and Export Processing (Holdings)'s Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Vietnam Manufacturing and Export Processing (Holdings)'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)
=0.404/333.9520*333.9520
=0.404

Current CPI (Jun. 2026) = 333.9520.

Vietnam Manufacturing and Export Processing (Holdings) Quarterly Data

Book Value per Share CPI Adj_Book
201512 1.164 236.525 1.643
201603 1.181 238.132 1.656
201606 1.168 241.018 1.618
201609 1.173 241.428 1.623
201612 1.149 241.432 1.589
201703 1.144 243.801 1.567
201706 1.140 244.955 1.554
201709 1.131 246.819 1.530
201712 1.083 246.524 1.467
201803 1.070 249.554 1.432
201806 1.031 251.989 1.366
201809 0.984 252.439 1.302
201812 0.708 251.233 0.941
201903 0.684 254.202 0.899
201906 0.632 256.143 0.824
201909 0.613 256.759 0.797
201912 0.554 256.974 0.720
202003 0.530 258.115 0.686
202006 0.513 257.797 0.665
202009 0.507 260.280 0.651
202012 0.491 260.474 0.630
202103 0.489 264.877 0.617
202106 0.484 271.696 0.595
202109 0.468 274.310 0.570
202112 0.452 278.802 0.541
202203 0.460 287.504 0.534
202206 0.451 296.311 0.508
202209 0.431 296.808 0.485
202212 0.438 296.797 0.493
202303 0.452 301.836 0.500
202309 0.455 307.789 0.494
202403 0.416 312.332 0.445
202409 0.413 315.301 0.437
202412 0.385 315.605 0.407
202503 0.392 319.799 0.409
202506 0.383 322.561 0.397
202509 0.364 324.800 0.374
202512 0.416 324.054 0.429
202603 0.416 330.213 0.421
202606 0.404 333.952 0.404

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 Vietnam Manufacturing and Export Processing (Holdings) (HKSE:00422) Overvalued in 2026?

Based on GuruFocus' analysis, Vietnam Manufacturing and Export Processing (Holdings) stock appears to be undervalued. The current stock price of HK$0.26 is trading 35% below its estimated GF Value™ of HK$0.40. GuruFocus considers Vietnam Manufacturing and Export Processing (Holdings) to be Significantly Undervalued.

Key valuation signals for HKSE:00422:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: HK$0.40 vs. price of HK$0.26 (35% below fair value)
  • GF Score™: 29/100 with 3 warning signs

No single metric tells the full story. See the HKSE:00422 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vietnam Manufacturing and Export Processing (Holdings) Business Description

Other Exchanges 9110:Taiwan
Address Section 5, Tam Hiep Ward, Dong Nai, Bien Hoa, VNM
Vietnam Manufacturing and Export Processing (Holdings) Ltd is engaged in manufacturing and sales of motorbikes, and related spare parts and engines. Its segments include Manufacturing and sale of motorbikes segment that includes motorbikes manufactured for the Vietnamese market and exports it to other countries including Malaysia, the Philippines, Thailand, Italy, Greece, United Arab Emirates and Singapore; and Manufacturing; and Sale of spare parts and engines segment manufactures engines for use in the group's motorbikes, while the group also exports engines to third parties. It manufactures parts for use in repair servicing and product assembly. Geographically, it operates in Vietnam, Malaysia, Philippines, United Arab Emirates, Greece, Thailand, Italy, Singapore, and Other Countries.
29GF Score

Get the complete analysis for HKSE:00422

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

HK$0.26
Price
HK$0.40
GF Value