Combined Group Contracting K C (KUW:CGC) Cyclically Adjusted PB Ratio: (As of Aug. 24, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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.

KUW:CGC Combined Group Contracting SA K C KUW:CGC
74 GF Score
Price KWD0.86
GF Value KWD1.09
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Combined Group Contracting K C Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Combined Group Contracting K C  (KUW:CGC) 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.


Combined Group Contracting K C Cyclically Adjusted PB Ratio Related Terms


Combined Group Contracting K C Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Combined Group Contracting K C'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.

Combined Group Contracting K C Cyclically Adjusted PB Ratio Chart

Combined Group Contracting K C 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 1.27 1.53 1.48 2.05 3.46

Combined Group Contracting K C 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 2.01 2.73 3.46 2.90 0.00

KUW:CGC vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Combined Group Contracting K C'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.


Combined Group Contracting K C Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Combined Group Contracting K C's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Combined Group Contracting K C's Cyclically Adjusted PB Ratio falls into.


KUW:CGC
74GF Score
Combined Group Contracting SA K C KUW:CGC
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Combined Group Contracting K C 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.

Combined Group Contracting K C's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Combined Group Contracting K C'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)
=0.421/333.9520*333.9520
=0.421

Current CPI (Jun. 2026) = 333.9520.

Combined Group Contracting K C Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.235 241.428 0.325
201612 0.254 241.432 0.351
201703 0.257 243.801 0.352
201706 0.241 244.955 0.329
201709 0.247 246.819 0.334
201712 0.264 246.524 0.358
201803 0.271 249.554 0.363
201806 0.259 251.989 0.343
201809 0.263 252.439 0.348
201812 0.273 251.233 0.363
201903 0.286 254.202 0.376
201906 0.272 256.143 0.355
201909 0.274 256.759 0.356
201912 0.274 256.974 0.356
202003 0.256 258.115 0.331
202006 0.235 257.797 0.304
202009 0.235 260.280 0.302
202012 0.224 260.474 0.287
202103 0.228 264.877 0.287
202106 0.227 271.696 0.279
202109 0.253 274.310 0.308
202112 0.273 278.802 0.327
202203 0.280 287.504 0.325
202206 0.269 296.311 0.303
202209 0.283 296.808 0.318
202212 0.307 296.797 0.345
202303 0.317 301.836 0.351
202306 0.299 305.109 0.327
202309 0.309 307.789 0.335
202312 0.328 306.746 0.357
202403 0.346 312.332 0.370
202406 0.329 314.175 0.350
202409 0.337 315.301 0.357
202412 0.352 315.605 0.372
202503 0.363 319.799 0.379
202506 0.348 322.561 0.360
202509 0.402 324.800 0.413
202512 0.418 324.054 0.431
202603 0.428 330.213 0.433
202606 0.421 333.952 0.421

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 Combined Group Contracting K C (KUW:CGC) Overvalued in 2026?

Based on GuruFocus' analysis, Combined Group Contracting K C stock appears to be undervalued. The current stock price of KWD0.86 is trading 20.8% below its estimated GF Value™ of KWD1.09. GuruFocus considers Combined Group Contracting K C to be Modestly Undervalued.

Key valuation signals for KUW:CGC:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: KWD1.09 vs. price of KWD0.86 (20.8% below fair value)
  • GF Score™: 74/100 with 3 warning signs

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


Combined Group Contracting K C Business Description

Address Al Ardiya Industrial, P.O. Box : 4819, Block No. 2, Plot No. 284, Kuwait City, KWT, 13049
Combined Group Contracting SA K C is a Kuwait-based company engaged in the construction of residential, commercial, and governmental buildings, roads, and infrastructure, and oil and gas-related development projects. Its service centers are Ready Mix plant, Asphalt Factories, Heavy Equipment, and Service Centers. The Group is divided into functional divisions to manage its various lines of business. The Group operates mainly in the State of Kuwait and other Gulf countries. The Group's segments are: the State of Kuwait segment and the Gulf Countries segment. It generates the majority of its revenue from the State of Kuwait segment.
74GF Score

Get the complete analysis for KUW:CGC

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

KWD0.86
Price
KWD1.09
GF Value