Ingram Micro Bilisim Sistemleri AS (IST:INGRM) Cyclically Adjusted PB Ratio: 12.18 (As of Jul. 14, 2026) — 13% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

IST:INGRM Ingram Micro Bilisim Sistemleri AS IST:INGRM
46 GF Score
Price ₺400.50
GF Value ₺794.16
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is Ingram Micro Bilisim Sistemleri AS Cyclically Adjusted PB Ratio?

Ingram Micro Bilisim Sistemleri AS IST:INGRM -1.05% 46 Cyclically Adjusted PB Ratio is 12.18 as of Jul. 14, 2026, which is 13% below its 10-year median of 14.00. GuruFocus rates IST:INGRM with a GF Score™ of 46/100 and a GF Value™ of ₺794.16 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 1,985 Hardware companies, Ingram Micro Bilisim Sistemleri AS ranks worse than 92.34% on this metric.

As of today (2026-07-14), Ingram Micro Bilisim Sistemleri AS's current share price is ₺400.50. Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₺32.88. Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio for today is 12.18.

The historical rank and industry rank for Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio or its related term are showing as below:

IST:INGRM' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.94   Med: 14   Max: 77.08
Current: 12.31

During the past years, Ingram Micro Bilisim Sistemleri AS's highest Cyclically Adjusted PB Ratio was 77.08. The lowest was 2.94. And the median was 14.00.

IST:INGRM's Cyclically Adjusted PB Ratio is ranked worse than
92.34% of 1985 companies
in the Hardware industry
Industry Median: 2.15 vs IST:INGRM: 12.31

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.

Ingram Micro Bilisim Sistemleri AS's adjusted book value per share data for the three months ended in Mar. 2026 was ₺83.412. 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 ₺32.88 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Ingram Micro Bilisim Sistemleri AS  (IST:INGRM) 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.


Ingram Micro Bilisim Sistemleri AS Cyclically Adjusted PB Ratio Related Terms


Ingram Micro Bilisim Sistemleri AS Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ingram Micro Bilisim Sistemleri AS'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.

Ingram Micro Bilisim Sistemleri AS Cyclically Adjusted PB Ratio Chart

Ingram Micro Bilisim Sistemleri AS Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.62 7.19 14.58 27.10 18.14

Ingram Micro Bilisim Sistemleri AS Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Mar26
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 18.14 15.11 12.47 14.75 11.52

IST:INGRM vs SNX, ARW, AVT: Cyclically Adjusted PB Ratio Comparison

For the Electronics & Computer Distribution subindustry, Ingram Micro Bilisim Sistemleri AS'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.


Ingram Micro Bilisim Sistemleri AS Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio falls into.


IST:INGRM
46GF Score
Ingram Micro Bilisim Sistemleri AS IST:INGRM
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ingram Micro Bilisim Sistemleri AS 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.

Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=400.50/32.88
=12.18

* 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.

Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Ingram Micro Bilisim Sistemleri AS's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=83.412/330.2130*330.2130
=83.412

Current CPI (Mar. 2026) = 330.2130.

Ingram Micro Bilisim Sistemleri AS Quarterly Data

Book Value per Share CPI Adj_Book
201603 4.525 238.132 6.275
201606 4.766 241.018 6.530
201609 4.965 241.428 6.791
201612 5.821 241.432 7.962
201703 6.047 243.801 8.190
201706 5.917 244.955 7.976
201709 6.227 246.819 8.331
201712 6.796 246.524 9.103
201803 7.333 249.554 9.703
201806 8.417 251.989 11.030
201809 10.673 252.439 13.961
201812 9.540 251.233 12.539
201903 10.338 254.202 13.429
201906 10.628 256.143 13.701
201909 10.661 256.759 13.711
201912 11.160 256.974 14.341
202003 12.361 258.115 15.814
202006 13.093 257.797 16.771
202009 14.859 260.280 18.851
202012 15.173 260.474 19.235
202103 16.801 264.877 20.945
202106 17.821 271.696 21.659
202109 18.542 274.310 22.321
202112 26.269 278.802 31.113
202203 28.727 287.504 32.994
202206 33.370 296.311 37.188
202209 37.873 296.808 42.136
202212 39.832 296.797 44.317
202303 42.574 301.836 46.577
202306 49.938 305.109 54.047
202309 54.643 307.789 58.624
202312 54.469 306.746 58.636
202403 62.066 312.332 65.619
202406 64.440 314.175 67.730
202409 68.747 315.301 71.998
202412 73.409 315.605 76.807
202503 78.244 319.799 80.792
202506 77.875 322.561 79.722
202509 82.854 324.800 84.235
202603 83.412 330.213 83.412

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.

What does a Cyclically Adjusted PB Ratio of 12.18 mean?
Ingram Micro Bilisim Sistemleri AS (IST:INGRM) has a Cyclically Adjusted PB Ratio of 12.18 as of Jul. 14, 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 Ingram Micro Bilisim Sistemleri AS and its competitors. This is 13% below median its historical median of 14.00. Over the past decade, Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio has ranged from 2.94 to 77.08. According to the industry distribution chart, Ingram Micro Bilisim Sistemleri AS ranks #1833 out of 1985 companies in the Hardware industry, placing it in the top 92.3%.
Is Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio too high?
Ingram Micro Bilisim Sistemleri AS's current Cyclically Adjusted PB Ratio of 12.18 is 13% below median its 10-year median of 14.00. Over the past 10 years, this metric has ranged from a low of 2.94 to a high of 77.08. The Hardware industry median Cyclically Adjusted PB Ratio is 2.15. Ingram Micro Bilisim Sistemleri AS's value of 12.18 is 466.5% above this industry median. Based on the distribution chart, Ingram Micro Bilisim Sistemleri AS ranks #1833 out of 1985 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, Ingram Micro Bilisim Sistemleri AS has a GF Score™ of 46/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ingram Micro Bilisim Sistemleri AS's Cyclically Adjusted PB Ratio compare to SNX and ARW?
According to the Hardware industry distribution chart, Ingram Micro Bilisim Sistemleri AS ranks #1833 out of 1985 companies for Cyclically Adjusted PB Ratio. This places Ingram Micro Bilisim Sistemleri AS in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.15. Ingram Micro Bilisim Sistemleri AS's value of 12.18 is 466.5% above this benchmark. Historically, Ingram Micro Bilisim Sistemleri AS's own Cyclically Adjusted PB Ratio has ranged from 2.94 to 77.08 over the past decade. While the company's 10-year median is 14.00 vs. the industry median of 2.15, Ingram Micro Bilisim Sistemleri AS 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 Hardware company?
The median Cyclically Adjusted PB Ratio among Hardware companies is 2.15, based on 1,985 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. Ingram Micro Bilisim Sistemleri AS's current Cyclically Adjusted PB Ratio of 12.18 is 466.5% 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 Ingram Micro Bilisim Sistemleri AS and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ingram Micro Bilisim Sistemleri AS's current Cyclically Adjusted PB Ratio is 12.18, which is 13% below median its own 10-year median of 14.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ingram Micro Bilisim Sistemleri AS stock overvalued right now?
Based on GuruFocus' analysis, Ingram Micro Bilisim Sistemleri AS (IST:INGRM) is currently considered Possible Value Trap. The stock's GF Value™ is ₺794.16, compared to a current price of ₺400.50 — trading 49.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 12.18, which is 13% below median its 10-year median of 14.00 and 466.5% above the Hardware industry median of 2.15. Ingram Micro Bilisim Sistemleri AS's overall GF Score™ is 46/100 with 7 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 Ingram Micro Bilisim Sistemleri AS (IST:INGRM), the current Cyclically Adjusted PB Ratio is 12.18 as of Jul. 14, 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 Ingram Micro Bilisim Sistemleri AS (IST:INGRM) Overvalued in 2026?

Based on GuruFocus' analysis, Ingram Micro Bilisim Sistemleri AS stock appears to be undervalued. The current stock price of ₺400.50 is trading 49.6% below its estimated GF Value™ of ₺794.16. GuruFocus considers Ingram Micro Bilisim Sistemleri AS to be Possible Value Trap.

Key valuation signals for IST:INGRM:

  • Cyclically Adjusted PB Ratio: 12.18 (13% below median its 10-year median of 14.00)
  • GF Value™: ₺794.16 vs. price of ₺400.50 (49.6% below fair value)
  • GF Score™: 46/100 with 7 warning signs
  • Industry Position: 466.5% above the Hardware median (#1833 of 1985)

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


Ingram Micro Bilisim Sistemleri AS Business Description

Address Ayazaga mah Azerbaycan Cad 2B, No: 3 K KapI No: 21, Sar?yer, Istanbul, TUR, 34485
Ingram Micro Bilisim Sistemleri AS is a Turkey-based distribution company active in the information technology sector. It engages in the distribution of value-added products in the field of information technology. Its products include computers, servers, storage, virtualization, security computer networking, industrial portable terminals, barcode readers, mobile products, and original equipment manufacturer products.
46GF Score

Get the complete analysis for IST:INGRM

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

₺400.50
Price
₺794.16
GF Value