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.
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.
LondonMetric PropertyLSE:LMP +0.48%77 Cyclically Adjusted PB Ratio is 0.83 as of Jul. 17, 2026, which is 36% below its 10-year median of 1.29. GuruFocus rates LSE:LMP with a GF Score™ of 77/100 and a GF Value™ of £2.24 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 558 REITs companies, LondonMetric Property ranks better than 50% on this metric.
The historical rank and industry rank for LondonMetric Property's Cyclically Adjusted PB Ratio or its related term are showing as below:
LSE:LMP'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.79 Med: 1.29 Max: 1.82
Current: 0.83
During the past 13 years, LondonMetric Property's highest Cyclically Adjusted PB Ratio was 1.82. The lowest was 0.79. And the median was 1.29.
LSE:LMP's Cyclically Adjusted PB Ratio is ranked better than 50% of 558
companies
in the REITs industry
Industry Median: 0.83
vs LSE:LMP: 0.83
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.
LondonMetric Property's adjusted book value per share data of for the fiscal year that ended in Mar26 was £2.019. 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 £2.27 for the trailing ten years ended in Mar26.
Shiller PE for Stocks: The True Measure of Stock Valuation
LondonMetric Property (LSE:LMP) 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.
LondonMetric Property Cyclically Adjusted PB Ratio Related Terms
LondonMetric Property Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for LondonMetric Property'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.
LondonMetric Property Cyclically Adjusted PB Ratio Chart
LSE:LMP vs PLD, PSA, EXR: Cyclically Adjusted PB Ratio Comparison
For the REIT - Industrial subindustry, LondonMetric Property'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.
LondonMetric Property Cyclically Adjusted PB Ratio vs REITs Industry
For the REITs industry and Real Estate sector, LondonMetric Property's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where LondonMetric Property's Cyclically Adjusted PB Ratio falls into.
LondonMetric Property 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.
* 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.
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 0.83 mean?
LondonMetric Property (LSE:LMP) has a Cyclically Adjusted PB Ratio of 0.83 as of Jul. 17, 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 LondonMetric Property and its competitors. This is 36% below median its historical median of 1.29. Over the past decade, LondonMetric Property's Cyclically Adjusted PB Ratio has ranged from 0.79 to 1.82. According to the industry distribution chart, LondonMetric Property ranks #279 out of 558 companies in the REITs industry, placing it in the top 50%.
Is LondonMetric Property's Cyclically Adjusted PB Ratio too high?
LondonMetric Property's current Cyclically Adjusted PB Ratio of 0.83 is 36% below median its 10-year median of 1.29. Over the past 10 years, this metric has ranged from a low of 0.79 to a high of 1.82. The REITs industry median Cyclically Adjusted PB Ratio is 0.83. LondonMetric Property's value of 0.83 is 0% at this industry median. Based on the distribution chart, LondonMetric Property ranks #279 out of 558 companies in the REITs industry, which is above the industry midpoint. Overall, LondonMetric Property has a GF Score™ of 77/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does LondonMetric Property's Cyclically Adjusted PB Ratio compare to PLD and PSA?
According to the REITs industry distribution chart, LondonMetric Property ranks #279 out of 558 companies for Cyclically Adjusted PB Ratio. This puts LondonMetric Property in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.83. LondonMetric Property's value of 0.83 is 0% at this benchmark. Historically, LondonMetric Property's own Cyclically Adjusted PB Ratio has ranged from 0.79 to 1.82 over the past decade. While the company's 10-year median is 1.29 vs. the industry median of 0.83, LondonMetric Property has consistently been at 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 REITs company?
The median Cyclically Adjusted PB Ratio among REITs companies is 0.83, based on 558 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. LondonMetric Property's current Cyclically Adjusted PB Ratio of 0.83 is 0% at 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 LondonMetric Property and its competitors. For the REITs industry, the median Cyclically Adjusted PB Ratio is 0.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. LondonMetric Property's current Cyclically Adjusted PB Ratio is 0.83, which is 36% below median its own 10-year median of 1.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is LondonMetric Property stock overvalued right now?
Based on GuruFocus' analysis, LondonMetric Property (LSE:LMP) is currently considered Modestly Undervalued. The stock's GF Value™ is £2.24, compared to a current price of £1.89 — trading 15.4% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.83, which is 36% below median its 10-year median of 1.29 and 0% at the REITs industry median of 0.83. LondonMetric Property's overall GF Score™ is 77/100 with 7 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 LondonMetric Property (LSE:LMP), the current Cyclically Adjusted PB Ratio is 0.83 as of Jul. 17, 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 LondonMetric Property (LSE:LMP) Overvalued in 2026?
Based on GuruFocus' analysis, LondonMetric Property stock appears to be undervalued.
The current stock price of £1.89 is trading 15.4% below its estimated GF Value™ of £2.24.
GuruFocus considers LondonMetric Property to be Modestly Undervalued.
Key valuation signals for LSE:LMP:
Cyclically Adjusted PB Ratio: 0.83 (36% below median its 10-year median of 1.29)
GF Value™: £2.24 vs. price of £1.89 (15.4% below fair value)
Industry Position: 0% at the REITs median (#279 of 558)
No single metric tells the full story. See the LSE:LMP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
LondonMetric Property PLC is a real estate company that is engaged in property investment and development across the United Kingdom. The Group operates predominantly in the United Kingdom.
77GF Score
Get the complete analysis for LSE:LMP
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LSE:LMP has been successfully added to your 
