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Hong Kong Exchanges and ClearingHKXCF +4.05%87 Cyclically Adjusted PB Ratio is 10.38 as of Aug. 01, 2026, which is 12% below its 10-year median of 11.80. GuruFocus rates HKXCF with a GF Score™ of 87/100 and a GF Value™ of $66.56 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 617 Capital Markets companies, Hong Kong Exchanges and Clearing ranks worse than 94% on this metric.
The historical rank and industry rank for Hong Kong Exchanges and Clearing's Cyclically Adjusted PB Ratio or its related term are showing as below:
HKXCF'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 6.42 Med: 11.8 Max: 22.72
Current: 10.18
During the past years, Hong Kong Exchanges and Clearing's highest Cyclically Adjusted PB Ratio was 22.72. The lowest was 6.42. And the median was 11.80.
HKXCF's Cyclically Adjusted PB Ratio is ranked worse than 94% of 617
companies
in the Capital Markets industry
Industry Median: 1.31
vs HKXCF: 10.18
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.
Hong Kong Exchanges and Clearing's adjusted book value per share data for the three months ended in Mar. 2026 was $5.575. 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 $5.15 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Hong Kong Exchanges and Clearing (OTCPK:HKXCF) 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.
Hong Kong Exchanges and Clearing Cyclically Adjusted PB Ratio Related Terms
Hong Kong Exchanges and Clearing Cyclically Adjusted PB Ratio Historical Data
* 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.
Hong Kong Exchanges and Clearing Cyclically Adjusted PB Ratio Chart
HKXCF vs SPGI, CME, ICE: Cyclically Adjusted PB Ratio Comparison
For the Financial Data & Stock Exchanges subindustry, Hong Kong Exchanges and Clearing'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.
Hong Kong Exchanges and Clearing Cyclically Adjusted PB Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Hong Kong Exchanges and Clearing's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Hong Kong Exchanges and Clearing's Cyclically Adjusted PB Ratio falls into.
Hong Kong Exchanges and Clearing 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.
* 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.
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 10.38 mean?
Hong Kong Exchanges and Clearing (HKXCF) has a Cyclically Adjusted PB Ratio of 10.38 as of Aug. 01, 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 Hong Kong Exchanges and Clearing and its competitors. This is 12% below median its historical median of 11.80. Over the past decade, Hong Kong Exchanges and Clearing's Cyclically Adjusted PB Ratio has ranged from 6.42 to 22.72. According to the industry distribution chart, Hong Kong Exchanges and Clearing ranks #580 out of 617 companies in the Capital Markets industry, placing it in the top 94%.
Is Hong Kong Exchanges and Clearing's Cyclically Adjusted PB Ratio too high?
Hong Kong Exchanges and Clearing's current Cyclically Adjusted PB Ratio of 10.38 is 12% below median its 10-year median of 11.80. Over the past 10 years, this metric has ranged from a low of 6.42 to a high of 22.72. The Capital Markets industry median Cyclically Adjusted PB Ratio is 1.31. Hong Kong Exchanges and Clearing's value of 10.38 is 692.4% above this industry median. Based on the distribution chart, Hong Kong Exchanges and Clearing ranks #580 out of 617 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Hong Kong Exchanges and Clearing has a GF Score™ of 87/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Hong Kong Exchanges and Clearing's Cyclically Adjusted PB Ratio compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Hong Kong Exchanges and Clearing ranks #580 out of 617 companies for Cyclically Adjusted PB Ratio. This places Hong Kong Exchanges and Clearing in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.31. Hong Kong Exchanges and Clearing's value of 10.38 is 692.4% above this benchmark. Historically, Hong Kong Exchanges and Clearing's own Cyclically Adjusted PB Ratio has ranged from 6.42 to 22.72 over the past decade. While the company's 10-year median is 11.80 vs. the industry median of 1.31, Hong Kong Exchanges and Clearing 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 Capital Markets company?
The median Cyclically Adjusted PB Ratio among Capital Markets companies is 1.31, based on 617 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. Hong Kong Exchanges and Clearing's current Cyclically Adjusted PB Ratio of 10.38 is 692.4% 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 Hong Kong Exchanges and Clearing and its competitors. For the Capital Markets industry, the median Cyclically Adjusted PB Ratio is 1.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hong Kong Exchanges and Clearing's current Cyclically Adjusted PB Ratio is 10.38, which is 12% below median its own 10-year median of 11.80. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hong Kong Exchanges and Clearing stock overvalued right now?
Based on GuruFocus' analysis, Hong Kong Exchanges and Clearing (HKXCF) is currently considered Modestly Undervalued. The stock's GF Value™ is $66.56, compared to a current price of $53.43 — trading 19.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 10.38, which is 12% below median its 10-year median of 11.80 and 692.4% above the Capital Markets industry median of 1.31. Hong Kong Exchanges and Clearing's overall GF Score™ is 87/100 with 5 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 Hong Kong Exchanges and Clearing (HKXCF), the current Cyclically Adjusted PB Ratio is 10.38 as of Aug. 01, 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 Hong Kong Exchanges and Clearing (HKXCF) Overvalued in 2026?
Based on GuruFocus' analysis, Hong Kong Exchanges and Clearing stock appears to be undervalued.
The current stock price of $53.43 is trading 19.7% below its estimated GF Value™ of $66.56.
GuruFocus considers Hong Kong Exchanges and Clearing to be Modestly Undervalued.
Key valuation signals for HKXCF:
Cyclically Adjusted PB Ratio: 10.38 (12% below median its 10-year median of 11.80)
GF Value™: $66.56 vs. price of $53.43 (19.7% below fair value)
Industry Position: 692.4% above the Capital Markets median (#580 of 617)
No single metric tells the full story. See the HKXCF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hong Kong Exchanges and Clearing is a vertically integrated securities exchange business offering listing, data, trading, clearing and settlement services across equities, debt and derivatives. HKEx, like Hong Kong itself, functions as a gateway between China and the rest of the world. HKEx serves as a preferred listing venue for Chinese companies outside of China and, through the Connect Scheme, offers two-way trading for a growing group of financial products with the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
87GF Score
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