SG Group Holdings (HKSE:01657) Cyclically Adjusted PB Ratio: (As of Sep. 22, 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.

HKSE:01657 SG Group Holdings Ltd HKSE:01657
55 GF Score
Price HK$55.90
GF Value HK$10.97
Valuation Significantly Overvalued
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What is SG Group Holdings Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


SG Group Holdings  (HKSE:01657) 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.


SG Group Holdings Cyclically Adjusted PB Ratio Related Terms


SG Group Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for SG Group 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.

SG Group Holdings Cyclically Adjusted PB Ratio Chart

SG Group Holdings Annual Data
Trend Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25 Apr26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - 2.97 3.22 8.87

SG Group Holdings Semi-Annual Data
Oct17 Apr18 Oct18 Apr19 Oct19 Apr20 Oct20 Apr21 Oct21 Apr22 Oct22 Apr23 Oct23 Apr24 Oct24 Apr25 Oct25 Apr26
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 2.97 3.06 3.22 4.97 8.87

HKSE:01657 vs TJX, ROST, BURL: Cyclically Adjusted PB Ratio Comparison

For the Apparel Retail subindustry, SG Group 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.


SG Group Holdings Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, SG Group Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where SG Group Holdings's Cyclically Adjusted PB Ratio falls into.


HKSE:01657
55GF Score
SG Group Holdings Ltd HKSE:01657
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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SG Group 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.

SG Group Holdings's Cyclically Adjusted Book per Share for the fiscal year that ended in Apr26 is calculated as:

For example, SG Group Holdings's adjusted Book Value per Share data for the fiscal year that ended in Apr26 was:

Adj_Book=Book Value per Share/CPI of Apr26 (Change)*Current CPI (Apr26)
=2.385/121.3631*121.3631
=2.385

Current CPI (Apr26) = 121.3631.

SG Group Holdings Annual Data

Book Value per Share CPI Adj_Book
201704 2.200 103.884 2.570
201804 2.956 105.863 3.389
201904 3.430 108.941 3.821
202004 3.904 111.030 4.267
202104 3.936 111.909 4.269
202204 3.944 113.338 4.223
202304 3.343 115.647 3.508
202404 2.792 116.966 2.897
202504 2.597 119.275 2.642
202604 2.385 121.363 2.385

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 SG Group Holdings (HKSE:01657) Overvalued in 2026?

Based on GuruFocus' analysis, SG Group Holdings stock appears to be overvalued. The current stock price of HK$55.90 is trading 409.6% above its estimated GF Value™ of HK$10.97. GuruFocus considers SG Group Holdings to be Significantly Overvalued.

Key valuation signals for HKSE:01657:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: HK$10.97 vs. price of HK$55.90 (409.6% above fair value)
  • GF Score™: 55/100

No single metric tells the full story. See the HKSE:01657 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SG Group Holdings Business Description

Address 1-7 Wah Sing Street, Unit B, 9th Floor, Mai Wah Industrial Building, Kwai Chung, New Territories, Hong Kong, HKG
SG Group Holdings Ltd is an investment holding company. The company's operating segment includes the Supply of Apparel Products Traditional, the Supply of Apparel Products New Retail, and the Provision of institutional catering. It generates maximum revenue from the Supply of Apparel Products segment, which is engaged in the supply of apparel products with designing and sourcing services to fashion retailers. The company earns maximum revenue from the sale of Womenswear, Childrenswear, and Menswear products. Geographically, it derives a majority of its revenue from the United Kingdom and also has a presence in the PRC, Germany, the United States of America, Hong Kong, Ireland, Canada, and other countries.
55GF Score

Get the complete analysis for HKSE:01657

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

HK$55.90
Price
HK$10.97
GF Value