PT Tower Bersama Infrastructure Tbk (ISX:TBIG) Cyclically Adjusted PB Ratio: 4.07 (As of Sep. 09, 2026) — 48% 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:TBIG PT Tower Bersama Infrastructure Tbk ISX:TBIG
58 GF Score
Price Rp1,530.00
GF Value Rp4,732.11
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is PT Tower Bersama Infrastructure Tbk Cyclically Adjusted PB Ratio?

PT Tower Bersama Infrastructure Tbk ISX:TBIG 58 Cyclically Adjusted PB Ratio is 4.07 as of Sep. 09, 2026, which is 48% below its 10-year median of 7.89. GuruFocus rates ISX:TBIG with a GF Score™ of 58/100 and a GF Value™ of Rp4,732.11 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 289 Telecommunication Services companies, PT Tower Bersama Infrastructure Tbk ranks worse than 82.01% on this metric.

As of today (2026-09-09), PT Tower Bersama Infrastructure Tbk's current share price is Rp1530.00. PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was Rp376.10. PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio for today is 4.07.

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

ISX:TBIG' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.66   Med: 7.89   Max: 17.78
Current: 4.03

During the past years, PT Tower Bersama Infrastructure Tbk's highest Cyclically Adjusted PB Ratio was 17.78. The lowest was 3.66. And the median was 7.89.

ISX:TBIG's Cyclically Adjusted PB Ratio is ranked worse than
82.01% of 289 companies
in the Telecommunication Services industry
Industry Median: 1.74 vs ISX:TBIG: 4.03

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 Tower Bersama Infrastructure Tbk's adjusted book value per share data for the three months ended in Jun. 2026 was Rp572.450. 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 Rp376.10 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Tower Bersama Infrastructure Tbk  (ISX:TBIG) 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 Tower Bersama Infrastructure Tbk Cyclically Adjusted PB Ratio Related Terms


PT Tower Bersama Infrastructure Tbk Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PT Tower Bersama Infrastructure 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 Tower Bersama Infrastructure Tbk Cyclically Adjusted PB Ratio Chart

PT Tower Bersama Infrastructure 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 14.75 9.51 7.59 6.80 7.71

PT Tower Bersama Infrastructure 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 7.09 5.23 7.71 4.49 3.76

ISX:TBIG vs VZ, TMUS, T: Cyclically Adjusted PB Ratio Comparison

For the Telecom Services subindustry, PT Tower Bersama Infrastructure 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 Tower Bersama Infrastructure Tbk Cyclically Adjusted PB Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio falls into.


ISX:TBIG
58GF Score
PT Tower Bersama Infrastructure Tbk ISX:TBIG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Tower Bersama Infrastructure 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 Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1530.00/376.10
=4.07

* 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 Tower Bersama Infrastructure Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, PT Tower Bersama Infrastructure 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)
=572.45/137.6954*137.6954
=572.450

Current CPI (Jun. 2026) = 137.6954.

PT Tower Bersama Infrastructure Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201609 68.043 104.142 89.965
201612 69.814 105.222 91.360
201703 80.155 106.476 103.657
201706 59.896 107.722 76.562
201709 75.430 108.020 96.152
201712 138.922 109.017 175.467
201803 140.287 110.097 175.454
201806 132.541 111.085 164.292
201809 152.243 111.135 188.629
201812 155.297 112.430 190.196
201903 164.674 112.829 200.967
201906 139.348 114.730 167.241
201909 164.151 114.905 196.710
201912 230.852 115.486 275.248
202003 206.153 116.252 244.179
202006 261.415 116.630 308.632
202009 276.919 116.397 327.591
202012 402.647 117.318 472.584
202103 428.638 117.840 500.862
202106 406.139 118.184 473.190
202109 420.552 118.262 489.660
202112 428.679 119.516 493.884
202203 447.953 120.948 509.979
202206 557.655 123.322 622.649
202209 558.337 125.298 613.579
202212 462.327 126.098 504.849
202303 518.667 126.953 562.557
202306 472.177 127.663 509.283
202309 470.387 128.151 505.419
202312 517.486 129.395 550.683
202403 529.723 130.607 558.473
202406 497.815 130.792 524.092
202409 514.498 130.361 543.445
202412 442.502 131.432 463.591
202503 456.904 131.948 476.804
202506 441.680 133.241 456.447
202509 449.693 133.819 462.719
202512 533.404 135.271 542.964
202603 556.868 136.539 561.586
202606 572.450 137.695 572.450

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 4.07 mean?
PT Tower Bersama Infrastructure Tbk (ISX:TBIG) has a Cyclically Adjusted PB Ratio of 4.07 as of Sep. 09, 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 Tower Bersama Infrastructure Tbk and its competitors. This is 48% below median its historical median of 7.89. Over the past decade, PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio has ranged from 3.66 to 17.78. According to the industry distribution chart, PT Tower Bersama Infrastructure Tbk ranks #237 out of 289 companies in the Telecommunication Services industry, placing it in the top 82%.
Is PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio too high?
PT Tower Bersama Infrastructure Tbk's current Cyclically Adjusted PB Ratio of 4.07 is 48% below median its 10-year median of 7.89. Over the past 10 years, this metric has ranged from a low of 3.66 to a high of 17.78. The Telecommunication Services industry median Cyclically Adjusted PB Ratio is 1.74. PT Tower Bersama Infrastructure Tbk's value of 4.07 is 133.9% above this industry median. Based on the distribution chart, PT Tower Bersama Infrastructure Tbk ranks #237 out of 289 companies in the Telecommunication Services industry, which is in the bottom quartile relative to peers. Overall, PT Tower Bersama Infrastructure Tbk has a GF Score™ of 58/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does PT Tower Bersama Infrastructure Tbk's Cyclically Adjusted PB Ratio compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, PT Tower Bersama Infrastructure Tbk ranks #237 out of 289 companies for Cyclically Adjusted PB Ratio. This places PT Tower Bersama Infrastructure Tbk in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.74. PT Tower Bersama Infrastructure Tbk's value of 4.07 is 133.9% above this benchmark. Historically, PT Tower Bersama Infrastructure Tbk's own Cyclically Adjusted PB Ratio has ranged from 3.66 to 17.78 over the past decade. While the company's 10-year median is 7.89 vs. the industry median of 1.74, PT Tower Bersama Infrastructure 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 Telecommunication Services company?
The median Cyclically Adjusted PB Ratio among Telecommunication Services companies is 1.74, based on 289 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 Tower Bersama Infrastructure Tbk's current Cyclically Adjusted PB Ratio of 4.07 is 133.9% 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 PT Tower Bersama Infrastructure Tbk and its competitors. For the Telecommunication Services industry, the median Cyclically Adjusted PB Ratio is 1.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Tower Bersama Infrastructure Tbk's current Cyclically Adjusted PB Ratio is 4.07, which is 48% below median its own 10-year median of 7.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Tower Bersama Infrastructure Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Tower Bersama Infrastructure Tbk (ISX:TBIG) is currently considered Possible Value Trap. The stock's GF Value™ is Rp4,732.11, compared to a current price of Rp1,530.00 — trading 67.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 4.07, which is 48% below median its 10-year median of 7.89 and 133.9% above the Telecommunication Services industry median of 1.74. PT Tower Bersama Infrastructure Tbk's overall GF Score™ is 58/100 with 5 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 Tower Bersama Infrastructure Tbk (ISX:TBIG), the current Cyclically Adjusted PB Ratio is 4.07 as of Sep. 09, 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 Tower Bersama Infrastructure Tbk (ISX:TBIG) Overvalued in 2026?

Based on GuruFocus' analysis, PT Tower Bersama Infrastructure Tbk stock appears to be undervalued. The current stock price of Rp1,530.00 is trading 67.7% below its estimated GF Value™ of Rp4,732.11. GuruFocus considers PT Tower Bersama Infrastructure Tbk to be Possible Value Trap.

Key valuation signals for ISX:TBIG:

  • Cyclically Adjusted PB Ratio: 4.07 (48% below median its 10-year median of 7.89)
  • GF Value™: Rp4,732.11 vs. price of Rp1,530.00 (67.7% below fair value)
  • GF Score™: 58/100 with 5 warning signs
  • Industry Position: 133.9% above the Telecommunication Services median (#237 of 289)

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


PT Tower Bersama Infrastructure Tbk Business Description

Other Exchanges 6TB:Germany
Address Jalan H.R Rasuna Said, Kawasan Rasuna Epicentrum, Jakarta Selatan, The Convergence Indonesia 11th Floor, Jakarta, IDN, 12940
PT Tower Bersama Infrastructure Tbk is a provider of coverage solutions. The firm's primary business is leasing space for antennas and other equipment for wireless signal transmission to telecommunication operators. The Company also provides telecommunications operators with access to its Distributed Antenna System networks in shopping malls and office buildings. A majority of the firm's revenue is generated from Indonesia. The company's operating segments include Tower, Repeater, Building, and Fiber Optic. The company generates the majority of its revenue from the Tower segment.
58GF Score

Get the complete analysis for ISX:TBIG

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

Rp1,530.00
Price
Rp4,732.11
GF Value