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QNB Bank ASIST:QNBTR -0.05%44 Cyclically Adjusted PB Ratio is 18.29 as of Aug. 17, 2026, which is 50% above its 10-year median of 12.23. GuruFocus rates IST:QNBTR with a GF Score™ of 44/100 and a GF Value™ of ₺345.79 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,284 Banks companies, QNB Bank AS ranks worse than 99.84% on this metric.
The historical rank and industry rank for QNB Bank AS's Cyclically Adjusted PB Ratio or its related term are showing as below:
IST:QNBTR'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.76 Med: 12.23 Max: 74.87
Current: 18.29
During the past years, QNB Bank AS's highest Cyclically Adjusted PB Ratio was 74.87. The lowest was 1.76. And the median was 12.23.
IST:QNBTR's Cyclically Adjusted PB Ratio is ranked worse than 99.84% of 1284
companies
in the Banks industry
Industry Median: 1.3
vs IST:QNBTR: 18.29
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.
QNB Bank AS's adjusted book value per share data for the three months ended in Jun. 2026 was ₺36.445. 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 ₺10.55 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
QNB Bank AS (IST:QNBTR) 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.
QNB Bank AS Cyclically Adjusted PB Ratio Related Terms
QNB Bank AS Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for QNB Bank 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.
QNB Bank AS Cyclically Adjusted PB Ratio Competitor Comparison
For the Banks - Regional subindustry, QNB Bank 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.
QNB Bank AS Cyclically Adjusted PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, QNB Bank AS's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where QNB Bank AS's Cyclically Adjusted PB Ratio falls into.
QNB Bank 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.
QNB Bank AS's Cyclically Adjusted PB Ratio for today is calculated as
* 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 18.29 mean?
QNB Bank AS (IST:QNBTR) has a Cyclically Adjusted PB Ratio of 18.29 as of Aug. 17, 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 QNB Bank AS and its competitors. This is 50% above median its historical median of 12.23. Over the past decade, QNB Bank AS's Cyclically Adjusted PB Ratio has ranged from 1.76 to 74.87. According to the industry distribution chart, QNB Bank AS ranks #1282 out of 1284 companies in the Banks industry, placing it in the top 99.8%.
Is QNB Bank AS's Cyclically Adjusted PB Ratio too high?
QNB Bank AS's current Cyclically Adjusted PB Ratio of 18.29 is 50% above median its 10-year median of 12.23. Over the past 10 years, this metric has ranged from a low of 1.76 to a high of 74.87. The Banks industry median Cyclically Adjusted PB Ratio is 1.30. QNB Bank AS's value of 18.29 is 1306.9% above this industry median. Based on the distribution chart, QNB Bank AS ranks #1282 out of 1284 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, QNB Bank AS has a GF Score™ of 44/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does QNB Bank AS's Cyclically Adjusted PB Ratio compare to competitors?
According to the Banks industry distribution chart, QNB Bank AS ranks #1282 out of 1284 companies for Cyclically Adjusted PB Ratio. This places QNB Bank AS in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.30. QNB Bank AS's value of 18.29 is 1306.9% above this benchmark. Historically, QNB Bank AS's own Cyclically Adjusted PB Ratio has ranged from 1.76 to 74.87 over the past decade. While the company's 10-year median is 12.23 vs. the industry median of 1.30, QNB Bank 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 Banks company?
The median Cyclically Adjusted PB Ratio among Banks companies is 1.30, based on 1,284 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. QNB Bank AS's current Cyclically Adjusted PB Ratio of 18.29 is 1306.9% 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 QNB Bank AS and its competitors. For the Banks industry, the median Cyclically Adjusted PB Ratio is 1.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. QNB Bank AS's current Cyclically Adjusted PB Ratio is 18.29, which is 50% above median its own 10-year median of 12.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is QNB Bank AS stock overvalued right now?
Based on GuruFocus' analysis, QNB Bank AS (IST:QNBTR) is currently considered Significantly Undervalued. The stock's GF Value™ is ₺345.79, compared to a current price of ₺193.00 — trading 44.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 18.29, which is 50% above median its 10-year median of 12.23 and 1306.9% above the Banks industry median of 1.30. QNB Bank AS's overall GF Score™ is 44/100 with 3 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 QNB Bank AS (IST:QNBTR), the current Cyclically Adjusted PB Ratio is 18.29 as of Aug. 17, 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 QNB Bank AS (IST:QNBTR) Overvalued in 2026?
Based on GuruFocus' analysis, QNB Bank AS stock appears to be undervalued.
The current stock price of ₺193.00 is trading 44.2% below its estimated GF Value™ of ₺345.79.
GuruFocus considers QNB Bank AS to be Significantly Undervalued.
Key valuation signals for IST:QNBTR:
Cyclically Adjusted PB Ratio: 18.29 (50% above median its 10-year median of 12.23)
GF Value™: ₺345.79 vs. price of ₺193.00 (44.2% below fair value)
Industry Position: 1306.9% above the Banks median (#1282 of 1284)
No single metric tells the full story. See the IST:QNBTR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
QNB Bank AS offers products and services to its customers in factoring, investment, leasing (financial leasing), insurance, portfolio management services, and e-transformation products. In addition to corporate banking, retail banking and commercial banking services, it also provides private banking, SME banking, treasury operations and credit card services through branches and alternative channels. The company serves its retail banking clients with time and demand deposits, also overdraft services, automatic account services, consumer loans, vehicle loans, housing loans and investment fund services. It provides services including deposit and loans, foreign trade financing, forward and option agreements to its corporate clients.
44GF Score
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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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