PT Hanjaya Mandalampoerna Tbk (ISX:HMSP) Cyclically Adjusted PB Ratio: (As of Aug. 05, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.

ISX:HMSP PT Hanjaya Mandala Sampoerna Tbk ISX:HMSP
89 GF Score
Price Rp760.00
GF Value Rp738.43
Valuation Fairly Valued
! 5 Warning Signs
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What is PT Hanjaya Mandalampoerna Tbk Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Hanjaya Mandalampoerna Tbk  (ISX:HMSP) 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 Hanjaya Mandalampoerna Tbk Cyclically Adjusted PB Ratio Related Terms


PT Hanjaya Mandalampoerna Tbk Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PT Hanjaya Mandalampoerna 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 Hanjaya Mandalampoerna Tbk Cyclically Adjusted PB Ratio Chart

PT Hanjaya Mandalampoerna Tbk 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 4.00 3.25 3.26 2.20 2.42

PT Hanjaya Mandalampoerna Tbk 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 2.03 2.72 2.42 2.43 0.00

ISX:HMSP vs PM, MO, TPB: Cyclically Adjusted PB Ratio Comparison

For the Tobacco subindustry, PT Hanjaya Mandalampoerna 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 Hanjaya Mandalampoerna Tbk Cyclically Adjusted PB Ratio vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, PT Hanjaya Mandalampoerna Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Hanjaya Mandalampoerna Tbk's Cyclically Adjusted PB Ratio falls into.


ISX:HMSP
89GF Score
PT Hanjaya Mandala Sampoerna Tbk ISX:HMSP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Hanjaya Mandalampoerna 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 Hanjaya Mandalampoerna Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, PT Hanjaya Mandalampoerna Tbk'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)
=223.844/137.6954*137.6954
=223.844

Current CPI (Jun. 2026) = 137.6954.

PT Hanjaya Mandalampoerna Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201609 264.020 104.142 349.083
201612 293.807 105.222 384.481
201703 322.236 106.476 416.718
201706 237.711 107.722 303.855
201709 266.096 108.020 339.197
201712 293.273 109.017 370.423
201803 319.474 110.097 399.559
201806 238.301 111.085 295.387
201809 270.018 111.135 334.552
201812 303.979 112.430 372.290
201903 332.366 112.829 405.618
201906 244.886 114.730 293.904
201909 274.519 114.905 328.969
201912 306.743 115.486 365.734
202003 335.868 116.252 397.820
202006 228.789 116.630 270.113
202009 246.374 116.397 291.457
202012 259.989 117.318 305.147
202103 282.396 117.840 329.979
202106 222.761 118.184 259.538
202109 235.553 118.262 274.261
202112 250.962 119.516 289.135
202203 267.582 120.948 304.633
202206 213.472 123.322 238.352
202209 229.572 125.298 252.286
202212 242.182 126.098 264.456
202303 260.903 126.953 282.981
202306 219.456 127.663 236.702
202309 240.695 128.151 258.621
202312 256.795 129.395 273.268
202403 276.279 130.607 291.273
202406 215.843 130.792 227.236
202409 232.402 130.361 245.478
202412 243.783 131.432 255.401
202503 260.422 131.948 271.765
202506 206.200 133.241 213.094
202509 226.075 133.819 232.624
202512 243.735 135.271 248.103
202603 261.584 136.539 263.800
202606 223.844 137.695 223.844

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 PT Hanjaya Mandalampoerna Tbk (ISX:HMSP) Overvalued in 2026?

Based on GuruFocus' analysis, PT Hanjaya Mandalampoerna Tbk stock appears to be overvalued. The current stock price of Rp760.00 is trading 2.9% above its estimated GF Value™ of Rp738.43. GuruFocus considers PT Hanjaya Mandalampoerna Tbk to be Fairly Valued.

Key valuation signals for ISX:HMSP:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: Rp738.43 vs. price of Rp760.00 (2.9% above fair value)
  • GF Score™: 89/100 with 5 warning signs

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


PT Hanjaya Mandalampoerna Tbk Business Description

Other Exchanges PHJMF:USAHSZ:Germany
Address Jalan Rungkut Industri Raya No. 18, Surabaya, IDN, 60293
PT Hanjaya Mandala Sampoerna Tbk is an Indonesian tobacco company. The company produces a number of brands of cigarettes and is well known, such as Sampoerna A, Sampoerna Kretek, Malboro, Magnum, Dji Sam Soe, and others. The scope of activities of the company comprises, among others manufacturing, trading, and distributing cigarettes. The company's flagship brand is Dji Sam Soe Kretek.
89GF Score

Get the complete analysis for ISX:HMSP

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

Rp760.00
Price
Rp738.43
GF Value