Unilever Pakistan Foods (KAR:UPFL) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

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.

KAR:UPFL Unilever Pakistan Foods Ltd KAR:UPFL
98 GF Score
Price ₨25,083.44
GF Value ₨30,288.02
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Unilever Pakistan Foods Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Unilever Pakistan Foods  (KAR:UPFL) 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.


Unilever Pakistan Foods Cyclically Adjusted PB Ratio Related Terms


Unilever Pakistan Foods Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Unilever Pakistan Foods'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.

Unilever Pakistan Foods Cyclically Adjusted PB Ratio Chart

Unilever Pakistan Foods 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 70.75 63.86 34.17 24.89 30.89

Unilever Pakistan Foods 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 25.98 32.83 30.43 24.39 24.95

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

For the Packaged Foods subindustry, Unilever Pakistan Foods'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.


Unilever Pakistan Foods Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

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

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


KAR:UPFL
98GF Score
Unilever Pakistan Foods Ltd KAR:UPFL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Unilever Pakistan Foods 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.

Unilever Pakistan Foods's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Unilever Pakistan Foods'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)
=1133.513/333.9520*333.9520
=1,133.513

Current CPI (Jun. 2026) = 333.9520.

Unilever Pakistan Foods Quarterly Data

Book Value per Share CPI Adj_Book
201609 232.542 241.428 321.661
201612 289.298 241.432 400.161
201703 363.320 243.801 497.666
201706 136.340 244.955 185.875
201709 65.541 246.819 88.679
201712 29.087 246.524 39.402
201803 123.879 249.554 165.774
201806 262.651 251.989 348.082
201809 276.482 252.439 365.759
201812 297.108 251.233 394.931
201903 383.687 254.202 504.060
201906 281.816 256.143 367.424
201909 312.225 256.759 406.094
201912 361.729 256.974 470.087
202003 491.556 258.115 635.981
202006 360.739 257.797 467.304
202009 340.262 260.280 436.573
202012 431.353 260.474 553.035
202103 659.714 264.877 831.755
202106 372.574 271.696 457.945
202109 408.658 274.310 497.511
202112 466.184 278.802 558.400
202203 752.522 287.504 874.096
202206 458.339 296.311 516.563
202209 689.288 296.808 775.549
202212 1,179.606 296.797 1,327.277
202303 1,706.499 301.836 1,888.074
202306 1,994.276 305.109 2,182.802
202309 2,280.879 307.789 2,474.761
202312 2,458.369 306.746 2,676.407
202403 2,744.239 312.332 2,934.199
202406 2,734.698 314.175 2,906.844
202409 2,367.143 315.301 2,507.167
202412 2,100.554 315.605 2,222.665
202503 2,363.159 319.799 2,467.743
202506 1,460.413 322.561 1,511.986
202509 1,249.488 324.800 1,284.695
202512 999.614 324.054 1,030.147
202603 1,330.619 330.213 1,345.686
202606 1,133.513 333.952 1,133.513

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 Unilever Pakistan Foods (KAR:UPFL) Overvalued in 2026?

Based on GuruFocus' analysis, Unilever Pakistan Foods stock appears to be undervalued. The current stock price of ₨25,083.44 is trading 17.2% below its estimated GF Value™ of ₨30,288.02. GuruFocus considers Unilever Pakistan Foods to be Modestly Undervalued.

Key valuation signals for KAR:UPFL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₨30,288.02 vs. price of ₨25,083.44 (17.2% below fair value)
  • GF Score™: 98/100 with 5 warning signs

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


Unilever Pakistan Foods Business Description

Address Fatima Jinnah Road, Avari Plaza, Karachi, SD, PAK, 75530
Unilever Pakistan Foods Ltd is a Pakistan-based company engaged in the manufacturing and selling of consumer and commercial food products. It sells the products under the brand names of Rafhan, Knorr, Hellmanns, Energile, Glaxose-D, and Food Solutions. It also includes brands such as Comfort, Dove, Lifebuoy, Pepsodent, Lux, Domex, Ponds, and other brands.
98GF Score

Get the complete analysis for KAR:UPFL

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

₨25,083.44
Price
₨30,288.02
GF Value