PT Siantar Top Tbk (ISX:STTP) Cyclically Adjusted PB Ratio: 3.47 (As of Jul. 14, 2026) — 33% 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.

ISX:STTP PT Siantar Top Tbk ISX:STTP
94 GF Score
Price Rp9,750.00
GF Value Rp10,879.70
Valuation Modestly Undervalued
View Full Analysis

What is PT Siantar Top Tbk Cyclically Adjusted PB Ratio?

PT Siantar Top Tbk ISX:STTP -5.34% 94 Cyclically Adjusted PB Ratio is 3.47 as of Jul. 14, 2026, which is 33% below its 10-year median of 5.18. GuruFocus rates ISX:STTP with a GF Score™ of 94/100 and a GF Value™ of Rp10,879.70 (Modestly Undervalued). Among 1,445 Consumer Packaged Goods companies, PT Siantar Top Tbk ranks worse than 83.39% on this metric.

As of today (2026-07-14), PT Siantar Top Tbk's current share price is Rp9750.00. PT Siantar Top Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was Rp2,811.97. PT Siantar Top Tbk's Cyclically Adjusted PB Ratio for today is 3.47.

The historical rank and industry rank for PT Siantar Top Tbk's Cyclically Adjusted PB Ratio or its related term are showing as below:

ISX:STTP' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.35   Med: 5.18   Max: 9.33
Current: 3.66

During the past years, PT Siantar Top Tbk's highest Cyclically Adjusted PB Ratio was 9.33. The lowest was 3.35. And the median was 5.18.

ISX:STTP's Cyclically Adjusted PB Ratio is ranked worse than
83.39% of 1445 companies
in the Consumer Packaged Goods industry
Industry Median: 1.25 vs ISX:STTP: 3.66

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 Siantar Top Tbk's adjusted book value per share data for the three months ended in Mar. 2026 was Rp5,748.164. 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 Rp2,811.97 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Siantar Top Tbk  (ISX:STTP) 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 Siantar Top Tbk Cyclically Adjusted PB Ratio Related Terms


PT Siantar Top Tbk Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PT Siantar Top 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 Siantar Top Tbk Cyclically Adjusted PB Ratio Chart

PT Siantar Top 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 0.00 5.09 5.10 6.28 3.68

PT Siantar Top Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 4.65 4.26 4.01 3.68 3.67

ISX:STTP vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, PT Siantar Top 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 Siantar Top Tbk Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Siantar Top Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


ISX:STTP
94GF Score
PT Siantar Top Tbk ISX:STTP
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Siantar Top 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 Siantar Top Tbk's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=9750.00/2811.97
=3.47

* 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 Siantar Top Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, PT Siantar Top Tbk'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)
=5748.164/136.5387*136.5387
=5,748.164

Current CPI (Mar. 2026) = 136.5387.

PT Siantar Top Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201606 798.077 103.212 1,055.769
201609 827.918 104.142 1,085.464
201612 882.467 105.222 1,145.112
201703 910.512 106.476 1,167.589
201706 946.747 107.722 1,200.017
201709 1,013.431 108.020 1,280.985
201712 1,047.491 109.017 1,311.935
201803 1,116.262 110.097 1,384.358
201806 1,154.153 111.085 1,418.616
201809 1,204.930 111.135 1,480.365
201812 1,244.706 112.430 1,511.613
201903 1,347.726 112.829 1,630.942
201906 1,434.462 114.730 1,707.132
201909 1,535.110 114.905 1,824.139
201912 1,616.057 115.486 1,910.660
202003 1,749.935 116.252 2,055.304
202006 1,824.063 116.630 2,135.434
202009 1,901.859 116.397 2,230.970
202012 2,016.954 117.318 2,347.398
202103 2,136.198 117.840 2,475.171
202106 2,219.842 118.184 2,564.599
202109 2,350.110 118.262 2,713.313
202112 2,495.892 119.516 2,851.380
202203 2,621.234 120.948 2,959.117
202206 2,679.095 123.322 2,966.210
202209 2,803.857 125.298 3,055.386
202212 2,974.864 126.098 3,221.185
202303 3,158.773 126.953 3,397.292
202306 3,286.238 127.663 3,514.715
202309 3,502.347 128.151 3,731.570
202312 3,676.353 129.395 3,879.328
202403 4,061.666 130.607 4,246.132
202406 4,228.094 130.792 4,413.880
202409 4,444.229 130.361 4,654.841
202412 4,669.931 131.432 4,851.396
202503 4,900.572 131.948 5,071.056
202506 5,081.933 133.241 5,207.726
202509 5,345.995 133.819 5,454.646
202512 5,565.799 135.271 5,617.955
202603 5,748.164 136.539 5,748.164

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 3.47 mean?
PT Siantar Top Tbk (ISX:STTP) has a Cyclically Adjusted PB Ratio of 3.47 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 PT Siantar Top Tbk and its competitors. This is 33% below median its historical median of 5.18. Over the past decade, PT Siantar Top Tbk's Cyclically Adjusted PB Ratio has ranged from 3.35 to 9.33. According to the industry distribution chart, PT Siantar Top Tbk ranks #1205 out of 1445 companies in the Consumer Packaged Goods industry, placing it in the top 83.4%.
Is PT Siantar Top Tbk's Cyclically Adjusted PB Ratio too high?
PT Siantar Top Tbk's current Cyclically Adjusted PB Ratio of 3.47 is 33% below median its 10-year median of 5.18. Over the past 10 years, this metric has ranged from a low of 3.35 to a high of 9.33. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.25. PT Siantar Top Tbk's value of 3.47 is 177.6% above this industry median. Based on the distribution chart, PT Siantar Top Tbk ranks #1205 out of 1445 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, PT Siantar Top Tbk has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Siantar Top Tbk's Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, PT Siantar Top Tbk ranks #1205 out of 1445 companies for Cyclically Adjusted PB Ratio. This places PT Siantar Top Tbk in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. PT Siantar Top Tbk's value of 3.47 is 177.6% above this benchmark. Historically, PT Siantar Top Tbk's own Cyclically Adjusted PB Ratio has ranged from 3.35 to 9.33 over the past decade. While the company's 10-year median is 5.18 vs. the industry median of 1.25, PT Siantar Top Tbk 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 Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.25, based on 1,445 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 Siantar Top Tbk's current Cyclically Adjusted PB Ratio of 3.47 is 177.6% 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 PT Siantar Top Tbk and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Siantar Top Tbk's current Cyclically Adjusted PB Ratio is 3.47, which is 33% below median its own 10-year median of 5.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Siantar Top Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Siantar Top Tbk (ISX:STTP) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp10,879.70, compared to a current price of Rp9,750.00 — trading 10.4% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.47, which is 33% below median its 10-year median of 5.18 and 177.6% above the Consumer Packaged Goods industry median of 1.25. PT Siantar Top Tbk's overall GF Score™ is 94/100. 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 Siantar Top Tbk (ISX:STTP), the current Cyclically Adjusted PB Ratio is 3.47 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 PT Siantar Top Tbk (ISX:STTP) Overvalued in 2026?

Based on GuruFocus' analysis, PT Siantar Top Tbk stock appears to be undervalued. The current stock price of Rp9,750.00 is trading 10.4% below its estimated GF Value™ of Rp10,879.70. GuruFocus considers PT Siantar Top Tbk to be Modestly Undervalued.

Key valuation signals for ISX:STTP:

  • Cyclically Adjusted PB Ratio: 3.47 (33% below median its 10-year median of 5.18)
  • GF Value™: Rp10,879.70 vs. price of Rp9,750.00 (10.4% below fair value)
  • GF Score™: 94/100
  • Industry Position: 177.6% above the Consumer Packaged Goods median (#1205 of 1445)

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


PT Siantar Top Tbk Business Description

Address Jalan Tambak Sawah No. 21-23, Waru, Sidoarjo, IDN, 61256
PT Siantar Top Tbk is a snack manufacturing company. The company is principally engaged in the manufacturing of snacks such as crackers, noodles, candies, biscuits, and wafers. The company has two operating segments include the food processing segment, from the sales of rice, crackers, biscuits, wafers, and candy, and other segments that arise from the sales of flour and seasoning. The majority of the revenue is made from the food processing segment. The company operates in three key geographic locations of food processing in Sidoarjo, Medan and Bekasi.
94GF Score

Get the complete analysis for ISX:STTP

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

Rp9,750.00
Price
Rp10,879.70
GF Value