HMBRF (Hamborner REIT AG) Cyclically Adjusted PB Ratio: (As of Aug. 08, 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.

HMBRF Hamborner REIT AG HMBRF
68 GF Score
Price $6.50
GF Value $7.73
! 8 Warning Signs
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What is Hamborner REIT AG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Hamborner REIT AG  (OTCPK:HMBRF) 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.


Hamborner REIT AG Cyclically Adjusted PB Ratio Related Terms


Hamborner REIT AG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Hamborner REIT AG'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.

Hamborner REIT AG Cyclically Adjusted PB Ratio Chart

Hamborner REIT AG 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 1.49 0.95 0.94 0.87 0.63

Hamborner REIT AG 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 0.83 0.79 0.63 0.63 0.00

HMBRF vs VICI, WPC, BNL: Cyclically Adjusted PB Ratio Comparison

For the REIT - Diversified subindustry, Hamborner REIT AG'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.


Hamborner REIT AG Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Hamborner REIT AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Hamborner REIT AG's Cyclically Adjusted PB Ratio falls into.


HMBRF
68GF Score
Hamborner REIT AG HMBRF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Hamborner REIT AG 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.

Hamborner REIT AG's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Hamborner REIT AG'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)
=4.743/131.3638*131.3638
=4.743

Current CPI (Jun. 2026) = 131.3638.

Hamborner REIT AG Quarterly Data

Book Value per Share CPI Adj_Book
201609 7.836 101.017 10.190
201612 7.427 101.217 9.639
201703 7.602 101.417 9.847
201706 7.608 102.117 9.787
201709 8.153 102.717 10.427
201712 8.138 102.617 10.418
201803 8.541 102.917 10.902
201806 7.657 104.017 9.670
201809 7.733 104.718 9.701
201812 7.598 104.217 9.577
201903 7.594 104.217 9.572
201906 7.153 105.718 8.888
201909 7.056 106.018 8.743
201912 7.158 105.818 8.886
202003 7.174 105.718 8.914
202006 7.147 106.618 8.806
202009 7.600 105.818 9.435
202012 7.160 105.518 8.914
202103 7.166 107.518 8.755
202106 7.233 108.486 8.758
202109 7.191 109.435 8.632
202112 6.909 110.384 8.222
202203 6.771 113.968 7.805
202206 6.063 115.760 6.880
202209 5.735 118.818 6.341
202212 6.168 119.345 6.789
202303 6.301 122.402 6.762
202306 5.770 123.140 6.155
202309 5.751 124.195 6.083
202312 5.820 123.773 6.177
202403 5.864 125.038 6.161
202406 5.330 125.882 5.562
202409 5.548 126.198 5.775
202412 5.293 127.041 5.473
202503 5.500 127.779 5.654
202506 5.371 128.412 5.494
202509 5.504 129.255 5.594
202512 5.537 129.361 5.623
202603 5.507 131.258 5.511
202606 4.743 131.364 4.743

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 Hamborner REIT AG (HMBRF) Overvalued in 2026?

Based on GuruFocus' analysis, Hamborner REIT AG stock appears to be undervalued. The current stock price of $6.50 is trading 15.9% below its estimated GF Value™ of $7.73.

Key valuation signals for HMBRF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $7.73 vs. price of $6.50 (15.9% below fair value)
  • GF Score™: 68/100 with 8 warning signs

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


Hamborner REIT AG Business Description

Industry Real EstateREITs
Other Exchanges HABAD:UKHABA:Germany
Address Goethestrasse 45, Duisburg, NW, DEU, 47166
Hamborner REIT AG is a real estate investment trust (REIT) specializing in property investment, particularly in commercial real estate. Its diverse portfolio includes modern office properties in established locations and retail properties focused on local shops in city centers and high-footfall suburban areas in Germany. The company pursues an active portfolio plan, seeking properties with solid risk-return profiles. The company's majority portfolio holding includes Retail properties. The company also has some office properties in its portfolio.
68GF Score

Get the complete analysis for HMBRF

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

$6.50
Price
$7.73
GF Value