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PT Gudang Garam TbkISX:GGRM -1.69%65 Cyclically Adjusted PB Ratio is 0.64 as of Aug. 25, 2026, which is 39% below its 10-year median of 1.05. GuruFocus rates ISX:GGRM with a GF Score™ of 65/100 and a GF Value™ of Rp13,679.08 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 27 Tobacco Products companies, PT Gudang Garam Tbk ranks better than 85.19% on this metric.
The historical rank and industry rank for PT Gudang Garam Tbk's Cyclically Adjusted PB Ratio or its related term are showing as below:
ISX:GGRM'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.28 Med: 1.05 Max: 4.9
Current: 0.65
During the past years, PT Gudang Garam Tbk's highest Cyclically Adjusted PB Ratio was 4.90. The lowest was 0.28. And the median was 1.05.
ISX:GGRM's Cyclically Adjusted PB Ratio is ranked better than 85.19% of 27
companies
in the Tobacco Products industry
Industry Median: 2.49
vs ISX:GGRM: 0.65
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.
PT Gudang Garam Tbk's adjusted book value per share data for the three months ended in Jun. 2026 was Rp33,264.912. 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 Rp31,807.67 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
PT Gudang Garam Tbk (ISX:GGRM) 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.
PT Gudang Garam Tbk Cyclically Adjusted PB Ratio Related Terms
PT Gudang Garam Tbk Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for PT Gudang Garam Tbk'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.
PT Gudang Garam Tbk Cyclically Adjusted PB Ratio Chart
ISX:GGRM vs PM, MO, TPB: Cyclically Adjusted PB Ratio Comparison
For the Tobacco subindustry, PT Gudang Garam Tbk'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.
PT Gudang Garam Tbk Cyclically Adjusted PB Ratio vs Tobacco Products Industry
For the Tobacco Products industry and Consumer Defensive sector, PT Gudang Garam Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where PT Gudang Garam Tbk's Cyclically Adjusted PB Ratio falls into.
PT Gudang Garam Tbk 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.
PT Gudang Garam Tbk'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 0.64 mean?
PT Gudang Garam Tbk (ISX:GGRM) has a Cyclically Adjusted PB Ratio of 0.64 as of Aug. 25, 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 PT Gudang Garam Tbk and its competitors. This is 39% below median its historical median of 1.05. Over the past decade, PT Gudang Garam Tbk's Cyclically Adjusted PB Ratio has ranged from 0.28 to 4.90. According to the industry distribution chart, PT Gudang Garam Tbk ranks #4 out of 27 companies in the Tobacco Products industry, placing it in the top 14.8%.
Is PT Gudang Garam Tbk's Cyclically Adjusted PB Ratio too high?
PT Gudang Garam Tbk's current Cyclically Adjusted PB Ratio of 0.64 is 39% below median its 10-year median of 1.05. Over the past 10 years, this metric has ranged from a low of 0.28 to a high of 4.90. The Tobacco Products industry median Cyclically Adjusted PB Ratio is 2.49. PT Gudang Garam Tbk's value of 0.64 is 74.3% below this industry median. Based on the distribution chart, PT Gudang Garam Tbk ranks #4 out of 27 companies in the Tobacco Products industry, which is in the top quartile — a strong position relative to peers. Overall, PT Gudang Garam Tbk has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PT Gudang Garam Tbk's Cyclically Adjusted PB Ratio compare to PM and MO?
According to the Tobacco Products industry distribution chart, PT Gudang Garam Tbk ranks #4 out of 27 companies for Cyclically Adjusted PB Ratio. This places PT Gudang Garam Tbk in the top 15% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 2.49. PT Gudang Garam Tbk's value of 0.64 is 74.3% below this benchmark. Historically, PT Gudang Garam Tbk's own Cyclically Adjusted PB Ratio has ranged from 0.28 to 4.90 over the past decade. While the company's 10-year median is 1.05 vs. the industry median of 2.49, PT Gudang Garam Tbk has consistently been below 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 Tobacco Products company?
The median Cyclically Adjusted PB Ratio among Tobacco Products companies is 2.49, based on 27 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. PT Gudang Garam Tbk's current Cyclically Adjusted PB Ratio of 0.64 is 74.3% 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 PT Gudang Garam Tbk and its competitors. For the Tobacco Products industry, the median Cyclically Adjusted PB Ratio is 2.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Gudang Garam Tbk's current Cyclically Adjusted PB Ratio is 0.64, which is 39% below median its own 10-year median of 1.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Gudang Garam Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Gudang Garam Tbk (ISX:GGRM) is currently considered Significantly Overvalued. The stock's GF Value™ is Rp13,679.08, compared to a current price of Rp20,325.00 — trading 48.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.64, which is 39% below median its 10-year median of 1.05 and 74.3% below the Tobacco Products industry median of 2.49. PT Gudang Garam Tbk's overall GF Score™ is 65/100 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 PT Gudang Garam Tbk (ISX:GGRM), the current Cyclically Adjusted PB Ratio is 0.64 as of Aug. 25, 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 PT Gudang Garam Tbk (ISX:GGRM) Overvalued in 2026?
Based on GuruFocus' analysis, PT Gudang Garam Tbk stock appears to be overvalued.
The current stock price of Rp20,325.00 is trading 48.6% above its estimated GF Value™ of Rp13,679.08.
GuruFocus considers PT Gudang Garam Tbk to be Significantly Overvalued.
Key valuation signals for ISX:GGRM:
Cyclically Adjusted PB Ratio: 0.64 (39% below median its 10-year median of 1.05)
GF Value™: Rp13,679.08 vs. price of Rp20,325.00 (48.6% above fair value)
Industry Position: 74.3% below the Tobacco Products median (#4 of 27)
No single metric tells the full story. See the ISX:GGRM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Gudang Garam Tbk manufactures kretek cigarettes, which are clove cigarettes common in Indonesia. The firm's operations are almost entirely domestic, with its tobacco and clove farmers. Nearly majority of the company's sales are generated in Indonesia. The company's brand families include Gudang Garam, Merah, and others. Other brands include Sriwedari, which is a hand-rolled brand, and Klobot. The company's segment includes Cigarettes, Paperboard, Infrastructure, and Others. The company generates the majority of revenue from sale of Cigarettes.
65GF Score
Get the complete analysis for ISX:GGRM
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