Ghani Glass (KAR:GHGL) Cyclically Adjusted PB Ratio: 1.46 (As of Aug. 03, 2026) — Near Median

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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.
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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.

KAR:GHGL Ghani Glass Ltd KAR:GHGL
84 GF Score
Price ₨38.67
GF Value ₨32.73
Valuation Modestly Overvalued
! 1 Warning Sign
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What is Ghani Glass Cyclically Adjusted PB Ratio?

Ghani Glass KAR:GHGL -1.05% 84 Cyclically Adjusted PB Ratio is 1.46 as of Aug. 03, 2026, which is 4% above its 10-year median of 1.41. GuruFocus rates KAR:GHGL with a GF Score™ of 84/100 and a GF Value™ of ₨32.73 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 313 Packaging & Containers companies, Ghani Glass ranks worse than 57.83% on this metric.

As of today (2026-08-03), Ghani Glass's current share price is ₨38.67. Ghani Glass's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₨26.44. Ghani Glass's Cyclically Adjusted PB Ratio for today is 1.46.

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

KAR:GHGL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.1   Med: 1.41   Max: 2.05
Current: 1.43

During the past years, Ghani Glass's highest Cyclically Adjusted PB Ratio was 2.05. The lowest was 1.10. And the median was 1.41.

KAR:GHGL's Cyclically Adjusted PB Ratio is ranked worse than
57.83% of 313 companies
in the Packaging & Containers industry
Industry Median: 1.09 vs KAR:GHGL: 1.43

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.

Ghani Glass's adjusted book value per share data for the three months ended in Mar. 2026 was ₨40.517. 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 ₨26.44 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Ghani Glass  (KAR:GHGL) 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.


Ghani Glass Cyclically Adjusted PB Ratio Related Terms


Ghani Glass Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ghani Glass'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.

Ghani Glass Cyclically Adjusted PB Ratio Chart

Ghani Glass Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 1.33 1.23 1.89

Ghani Glass 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 1.43 1.89 1.84 1.41 1.17

KAR:GHGL vs SW, PKG, IP: Cyclically Adjusted PB Ratio Comparison

For the Packaging & Containers subindustry, Ghani Glass'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.


Ghani Glass Cyclically Adjusted PB Ratio vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Ghani Glass's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Ghani Glass's Cyclically Adjusted PB Ratio falls into.


KAR:GHGL
84GF Score
Ghani Glass Ltd KAR:GHGL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ghani Glass 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.

Ghani Glass's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=38.67/26.44
=1.46

* 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.

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

For example, Ghani Glass'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)
=40.517/330.2130*330.2130
=40.517

Current CPI (Mar. 2026) = 330.2130.

Ghani Glass Quarterly Data

Book Value per Share CPI Adj_Book
201606 12.422 241.018 17.019
201609 12.589 241.428 17.219
201612 12.187 241.432 16.668
201703 11.847 243.801 16.046
201706 18.552 244.955 25.009
201709 20.543 246.819 27.484
201712 13.435 246.524 17.996
201803 13.769 249.554 18.219
201806 14.411 251.989 18.885
201809 14.972 252.439 19.585
201812 20.509 251.233 26.956
201903 21.463 254.202 27.881
201906 16.653 256.143 21.469
201909 17.274 256.759 22.216
201912 17.542 256.974 22.542
202003 16.992 258.115 21.738
202006 17.159 257.797 21.979
202009 17.836 260.280 22.628
202012 19.185 260.474 24.322
202103 19.540 264.877 24.360
202106 17.105 271.696 20.789
202109 18.037 274.310 21.713
202112 17.973 278.802 21.287
202203 19.063 287.504 21.895
202206 20.564 296.311 22.917
202209 21.718 296.808 24.162
202212 24.541 296.797 27.304
202303 26.863 301.836 29.389
202306 28.289 305.109 30.617
202309 29.689 307.789 31.852
202312 30.466 306.746 32.797
202403 32.172 312.332 34.014
202406 33.962 314.175 35.696
202409 34.890 315.301 36.540
202412 35.704 315.605 37.357
202503 37.359 319.799 38.576
202506 38.906 322.561 39.829
202509 39.612 324.800 40.272
202512 39.227 324.054 39.973
202603 40.517 330.213 40.517

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 1.46 mean?
Ghani Glass (KAR:GHGL) has a Cyclically Adjusted PB Ratio of 1.46 as of Aug. 03, 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 Ghani Glass and its competitors. This is near median its historical median of 1.41. Over the past decade, Ghani Glass' Cyclically Adjusted PB Ratio has ranged from 1.10 to 2.05. According to the industry distribution chart, Ghani Glass ranks #181 out of 313 companies in the Packaging & Containers industry, placing it in the top 57.8%.
Is Ghani Glass' Cyclically Adjusted PB Ratio too high?
Ghani Glass' current Cyclically Adjusted PB Ratio of 1.46 is near median its 10-year median of 1.41. Over the past 10 years, this metric has ranged from a low of 1.10 to a high of 2.05. The Packaging & Containers industry median Cyclically Adjusted PB Ratio is 1.09. Ghani Glass' value of 1.46 is 33.9% above this industry median. Based on the distribution chart, Ghani Glass ranks #181 out of 313 companies in the Packaging & Containers industry, which is below the industry midpoint. Overall, Ghani Glass has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ghani Glass' Cyclically Adjusted PB Ratio compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Ghani Glass ranks #181 out of 313 companies for Cyclically Adjusted PB Ratio. This places Ghani Glass in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.09. Ghani Glass' value of 1.46 is 33.9% above this benchmark. Historically, Ghani Glass' own Cyclically Adjusted PB Ratio has ranged from 1.10 to 2.05 over the past decade. While the company's 10-year median is 1.41 vs. the industry median of 1.09, Ghani Glass 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 Packaging & Containers company?
The median Cyclically Adjusted PB Ratio among Packaging & Containers companies is 1.09, based on 313 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. Ghani Glass's current Cyclically Adjusted PB Ratio of 1.46 is 33.9% 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 Ghani Glass and its competitors. For the Packaging & Containers industry, the median Cyclically Adjusted PB Ratio is 1.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ghani Glass's current Cyclically Adjusted PB Ratio is 1.46, which is near median its own 10-year median of 1.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ghani Glass stock overvalued right now?
Based on GuruFocus' analysis, Ghani Glass (KAR:GHGL) is currently considered Modestly Overvalued. The stock's GF Value™ is ₨32.73, compared to a current price of ₨38.67 — trading 18.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.46, which is near median its 10-year median of 1.41 and 33.9% above the Packaging & Containers industry median of 1.09. Ghani Glass' overall GF Score™ is 84/100 with 1 warning sign 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 Ghani Glass (KAR:GHGL), the current Cyclically Adjusted PB Ratio is 1.46 as of Aug. 03, 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 Ghani Glass (KAR:GHGL) Overvalued in 2026?

Based on GuruFocus' analysis, Ghani Glass stock appears to be overvalued. The current stock price of ₨38.67 is trading 18.1% above its estimated GF Value™ of ₨32.73. GuruFocus considers Ghani Glass to be Modestly Overvalued.

Key valuation signals for KAR:GHGL:

  • Cyclically Adjusted PB Ratio: 1.46 (near median its 10-year median of 1.41)
  • GF Value™: ₨32.73 vs. price of ₨38.67 (18.1% above fair value)
  • GF Score™: 84/100 with 1 warning sign
  • Industry Position: 33.9% above the Packaging & Containers median (#181 of 313)

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


Ghani Glass Business Description

Address 40-L Model Town Extension, Ghani Complex, Lahore, PB, PAK
Ghani Glass Ltd is involved in manufacturing and selling float and container glass products in Pakistan. The company offers clear, green, brown, reflective, blue, grey, and figured glass products. It also provides amber and clear pharmaceutical glass containers, flint and green beverages glass containers, and clear food glass containers. Geographically, it derives a majority of its revenue from Pakistan.
84GF Score

Get the complete analysis for KAR:GHGL

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

₨38.67
Price
₨32.73
GF Value