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John Hancock Preferredome Fund IIIHPS -0.61%28 Cyclically Adjusted PB Ratio is 0.64 as of Sep. 19, 2026. GuruFocus rates HPS with a GF Score™ of 28/100. The stock has 4 warning signs investors should review. Among 967 Asset Management companies, John Hancock Preferredome Fund III ranks worse than 103412.51% on this metric.
The historical rank and industry rank for John Hancock Preferredome Fund III's Cyclically Adjusted PB Ratio or its related term are showing as below:
HPS's Cyclically Adjusted PB Ratio is not ranked *
in the Asset Management industry.
Industry Median: 0.84 * Ranked among companies with meaningful Cyclically Adjusted PB Ratio only.
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.
John Hancock Preferredome Fund III's adjusted book value per share data of for the fiscal year that ended in Jul25 was $14.286. 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 $20.33 for the trailing ten years ended in Jul25.
Shiller PE for Stocks: The True Measure of Stock Valuation
John Hancock Preferredome Fund III (NYSE:HPS) 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.
John Hancock Preferredome Fund III Cyclically Adjusted PB Ratio Related Terms
John Hancock Preferredome Fund III 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.
John Hancock Preferredome Fund III Cyclically Adjusted PB Ratio Chart
HPS vs GLAD, KIO, VVR: Cyclically Adjusted PB Ratio Comparison
For the Asset Management subindustry, John Hancock Preferredome Fund III'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.
John Hancock Preferredome Fund III Cyclically Adjusted PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, John Hancock Preferredome Fund III's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where John Hancock Preferredome Fund III's Cyclically Adjusted PB Ratio falls into.
John Hancock Preferredome Fund III 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 0.64 mean?
John Hancock Preferredome Fund III (HPS) has a Cyclically Adjusted PB Ratio of 0.64 as of Sep. 19, 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 John Hancock Preferredome Fund III and its competitors. According to the industry distribution chart, John Hancock Preferredome Fund III ranks #999999 out of 967 companies in the Asset Management industry.
Is John Hancock Preferredome Fund III's Cyclically Adjusted PB Ratio too high?
John Hancock Preferredome Fund III's current Cyclically Adjusted PB Ratio is 0.64. The Asset Management industry median Cyclically Adjusted PB Ratio is 0.84. John Hancock Preferredome Fund III's value of 0.64 is 23.8% below this industry median. Based on the distribution chart, John Hancock Preferredome Fund III ranks #999999 out of 967 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, John Hancock Preferredome Fund III has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does John Hancock Preferredome Fund III's Cyclically Adjusted PB Ratio compare to GLAD and KIO?
According to the Asset Management industry distribution chart, John Hancock Preferredome Fund III ranks #999999 out of 967 companies for Cyclically Adjusted PB Ratio. This places John Hancock Preferredome Fund III in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.84. John Hancock Preferredome Fund III's value of 0.64 is 23.8% below this benchmark. 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 an Asset Management company?
The median Cyclically Adjusted PB Ratio among Asset Management companies is 0.84, based on 967 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. John Hancock Preferredome Fund III's current Cyclically Adjusted PB Ratio of 0.64 is 23.8% below 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 John Hancock Preferredome Fund III and its competitors. For the Asset Management industry, the median Cyclically Adjusted PB Ratio is 0.84 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. John Hancock Preferredome Fund III's current Cyclically Adjusted PB Ratio is 0.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is John Hancock Preferredome Fund III stock overvalued right now?
John Hancock Preferredome Fund III (HPS) has a current Cyclically Adjusted PB Ratio of 0.64. The current Cyclically Adjusted PB Ratio is 0.64 and 23.8% below the Asset Management industry median of 0.84. John Hancock Preferredome Fund III's overall GF Score™ is 28/100 with 4 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 John Hancock Preferredome Fund III (HPS), the current Cyclically Adjusted PB Ratio is 0.64 as of Sep. 19, 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.
John Hancock Preferred Income Fund III is a closed-end, diversified management investment company. Its investment objective is to provide a high level of current income consistent with preservation of capital. The fund's secondary investment objective is to provide growth of capital to the extent consistent with its primary investment objective. It seeks to achieve the objectives by investing a majority of its assets in preferred stocks and other preferred securities, including convertible preferred securities. The portfolio composition of the company consists of the U.S. preferred securities, foreign preferred securities, common stocks, corporate bonds, and the short-term investments.
28GF Score
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