FrieslandCampina Engro Pakistan (KAR:FCEPL) Cyclically Adjusted PB Ratio: 5.43 (As of Jul. 20, 2026) — 27% Above Median

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KAR:FCEPL FrieslandCampina Engro Pakistan Ltd KAR:FCEPL
75 GF Score
Price ₨102.50
GF Value ₨87.32
Valuation Modestly Overvalued
! 4 Warning Signs
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What is FrieslandCampina Engro Pakistan Cyclically Adjusted PB Ratio?

FrieslandCampina Engro Pakistan KAR:FCEPL +0.19% 75 Cyclically Adjusted PB Ratio is 5.43 as of Jul. 20, 2026, which is 27% above its 10-year median of 4.26. GuruFocus rates KAR:FCEPL with a GF Score™ of 75/100 and a GF Value™ of ₨87.32 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,442 Consumer Packaged Goods companies, FrieslandCampina Engro Pakistan ranks worse than 90.57% on this metric.

As of today (2026-07-20), FrieslandCampina Engro Pakistan's current share price is ₨102.50. FrieslandCampina Engro Pakistan's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₨18.87. FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio for today is 5.43.

The historical rank and industry rank for FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio or its related term are showing as below:

KAR:FCEPL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.09   Med: 4.26   Max: 6.01
Current: 5.42

During the past years, FrieslandCampina Engro Pakistan's highest Cyclically Adjusted PB Ratio was 6.01. The lowest was 3.09. And the median was 4.26.

KAR:FCEPL's Cyclically Adjusted PB Ratio is ranked worse than
90.57% of 1442 companies
in the Consumer Packaged Goods industry
Industry Median: 1.27 vs KAR:FCEPL: 5.42

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.

FrieslandCampina Engro Pakistan's adjusted book value per share data for the three months ended in Mar. 2026 was ₨24.547. 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 ₨18.87 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


FrieslandCampina Engro Pakistan  (KAR:FCEPL) 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.


FrieslandCampina Engro Pakistan Cyclically Adjusted PB Ratio Related Terms


FrieslandCampina Engro Pakistan Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for FrieslandCampina Engro Pakistan'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.

FrieslandCampina Engro Pakistan Cyclically Adjusted PB Ratio Chart

FrieslandCampina Engro Pakistan 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 5.28 3.81 4.60 4.84 4.64

FrieslandCampina Engro Pakistan 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 4.45 4.65 4.70 4.64 3.75

KAR:FCEPL vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, FrieslandCampina Engro Pakistan'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.


FrieslandCampina Engro Pakistan Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio falls into.


KAR:FCEPL
75GF Score
FrieslandCampina Engro Pakistan Ltd KAR:FCEPL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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FrieslandCampina Engro Pakistan 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.

FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=102.50/18.87
=5.43

* 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.

FrieslandCampina Engro Pakistan's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, FrieslandCampina Engro Pakistan'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)
=24.547/330.2130*330.2130
=24.547

Current CPI (Mar. 2026) = 330.2130.

FrieslandCampina Engro Pakistan Quarterly Data

Book Value per Share CPI Adj_Book
201606 21.887 241.018 29.987
201609 22.657 241.428 30.989
201612 22.372 241.432 30.599
201703 12.775 243.801 17.303
201706 12.484 244.955 16.829
201709 0.000 246.819 0.000
201712 12.681 246.524 16.986
201803 12.599 249.554 16.671
201806 12.855 251.989 16.846
201809 12.858 252.439 16.819
201812 12.185 251.233 16.016
201903 12.285 254.202 15.958
201906 11.865 256.143 15.296
201909 11.121 256.759 14.303
201912 10.938 256.974 14.055
202003 10.767 258.115 13.774
202006 11.319 257.797 14.499
202009 11.358 260.280 14.410
202012 11.150 260.474 14.135
202103 11.863 264.877 14.789
202106 12.995 271.696 15.794
202109 13.706 274.310 16.499
202112 13.472 278.802 15.956
202203 14.337 287.504 16.467
202206 14.695 296.311 16.376
202209 15.774 296.808 17.549
202212 16.553 296.797 18.417
202303 17.845 301.836 19.523
202306 18.283 305.109 19.787
202309 18.608 307.789 19.964
202312 18.492 306.746 19.907
202403 19.359 312.332 20.467
202406 20.126 314.175 21.153
202409 21.125 315.301 22.124
202412 21.469 315.605 22.463
202503 22.884 319.799 23.629
202506 20.387 322.561 20.871
202509 21.396 324.800 21.753
202512 22.132 324.054 22.553
202603 24.547 330.213 24.547

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 5.43 mean?
FrieslandCampina Engro Pakistan (KAR:FCEPL) has a Cyclically Adjusted PB Ratio of 5.43 as of Jul. 20, 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 FrieslandCampina Engro Pakistan and its competitors. This is 27% above median its historical median of 4.26. Over the past decade, FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio has ranged from 3.09 to 6.01. According to the industry distribution chart, FrieslandCampina Engro Pakistan ranks #1306 out of 1442 companies in the Consumer Packaged Goods industry, placing it in the top 90.6%.
Is FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio too high?
FrieslandCampina Engro Pakistan's current Cyclically Adjusted PB Ratio of 5.43 is 27% above median its 10-year median of 4.26. Over the past 10 years, this metric has ranged from a low of 3.09 to a high of 6.01. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.27. FrieslandCampina Engro Pakistan's value of 5.43 is 327.6% above this industry median. Based on the distribution chart, FrieslandCampina Engro Pakistan ranks #1306 out of 1442 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, FrieslandCampina Engro Pakistan has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does FrieslandCampina Engro Pakistan's Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, FrieslandCampina Engro Pakistan ranks #1306 out of 1442 companies for Cyclically Adjusted PB Ratio. This places FrieslandCampina Engro Pakistan in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.27. FrieslandCampina Engro Pakistan's value of 5.43 is 327.6% above this benchmark. Historically, FrieslandCampina Engro Pakistan's own Cyclically Adjusted PB Ratio has ranged from 3.09 to 6.01 over the past decade. While the company's 10-year median is 4.26 vs. the industry median of 1.27, FrieslandCampina Engro Pakistan 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 1.27, based on 1,442 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. FrieslandCampina Engro Pakistan's current Cyclically Adjusted PB Ratio of 5.43 is 327.6% 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 FrieslandCampina Engro Pakistan and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FrieslandCampina Engro Pakistan's current Cyclically Adjusted PB Ratio is 5.43, which is 27% above median its own 10-year median of 4.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FrieslandCampina Engro Pakistan stock overvalued right now?
Based on GuruFocus' analysis, FrieslandCampina Engro Pakistan (KAR:FCEPL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₨87.32, compared to a current price of ₨102.50 — trading 17.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 5.43, which is 27% above median its 10-year median of 4.26 and 327.6% above the Consumer Packaged Goods industry median of 1.27. FrieslandCampina Engro Pakistan's overall GF Score™ is 75/100 with 4 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 FrieslandCampina Engro Pakistan (KAR:FCEPL), the current Cyclically Adjusted PB Ratio is 5.43 as of Jul. 20, 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 FrieslandCampina Engro Pakistan (KAR:FCEPL) Overvalued in 2026?

Based on GuruFocus' analysis, FrieslandCampina Engro Pakistan stock appears to be overvalued. The current stock price of ₨102.50 is trading 17.4% above its estimated GF Value™ of ₨87.32. GuruFocus considers FrieslandCampina Engro Pakistan to be Modestly Overvalued.

Key valuation signals for KAR:FCEPL:

  • Cyclically Adjusted PB Ratio: 5.43 (27% above median its 10-year median of 4.26)
  • GF Value™: ₨87.32 vs. price of ₨102.50 (17.4% above fair value)
  • GF Score™: 75/100 with 4 warning signs
  • Industry Position: 327.6% above the Consumer Packaged Goods median (#1306 of 1442)

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


FrieslandCampina Engro Pakistan Business Description

Address Harbor Front Building, 5th Floor, HC-3, Near Marine Drive, Block - 4, Clifton, Karachi, PAK, 75600
FrieslandCampina Engro Pakistan Ltd is involved in the business of manufacturing, process, and selling dairy products, beverages, ice cream, and frozen desserts. It also owns and operates dairy farms. It sells its products under the brand name Olper's, Dairy Omung, Omore, and others. Its operating segment of the company is Dairy-Based products & frozen desserts out of which the majority comes from Dairy-Based products.
75GF Score

Get the complete analysis for KAR:FCEPL

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

₨102.50
Price
₨87.32
GF Value