Himsnab Bulgaria AD (LTS:0N22) Cyclically Adjusted PB Ratio: 2.46 (As of Aug. 13, 2026) — Near Median

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.

LTS:0N22 Himsnab Bulgaria AD LTS:0N22
25 GF Score
Price лв46.20
! 4 Warning Signs
View Full Analysis

What is Himsnab Bulgaria AD Cyclically Adjusted PB Ratio?

Himsnab Bulgaria AD LTS:0N22 25 Cyclically Adjusted PB Ratio is 2.46 as of Aug. 13, 2026, which is 2% below its 10-year median of 2.50. GuruFocus rates LTS:0N22 with a GF Score™ of 25/100. The stock has 4 warning signs investors should review. Among 1,402 Real Estate companies, Himsnab Bulgaria AD ranks worse than 73.68% on this metric.

As of today (2026-08-13), Himsnab Bulgaria AD's current share price is лв46.20. Himsnab Bulgaria AD's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 was лв18.80. Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio for today is 2.46.

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

LTS:0N22' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.26   Med: 2.5   Max: 2.79
Current: 1.29

During the past 12 years, Himsnab Bulgaria AD's highest Cyclically Adjusted PB Ratio was 2.79. The lowest was 1.26. And the median was 2.50.

LTS:0N22's Cyclically Adjusted PB Ratio is ranked worse than
73.68% of 1402 companies
in the Real Estate industry
Industry Median: 0.69 vs LTS:0N22: 1.29

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.

Himsnab Bulgaria AD's adjusted book value per share data of for the fiscal year that ended in Dec25 was лв60.206. 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 лв18.80 for the trailing ten years ended in Dec25.

Shiller PE for Stocks: The True Measure of Stock Valuation


Himsnab Bulgaria AD  (LTS:0N22) 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.


Himsnab Bulgaria AD Cyclically Adjusted PB Ratio Related Terms


Himsnab Bulgaria AD Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Himsnab Bulgaria AD'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.

Himsnab Bulgaria AD Cyclically Adjusted PB Ratio Chart

Himsnab Bulgaria AD Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 2.78 2.50 2.46

Himsnab Bulgaria AD Quarterly Data
Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Sep17 Dec17 Dec22 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 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 2.50 0.00 0.00 2.46 0.00

LTS:0N22 vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, Himsnab Bulgaria AD'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.


Himsnab Bulgaria AD Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio falls into.


LTS:0N22
25GF Score
Himsnab Bulgaria AD LTS:0N22
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Himsnab Bulgaria AD 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.

Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=46.20/18.80
=2.46

* 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.

Himsnab Bulgaria AD's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Himsnab Bulgaria AD's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=60.206/324.0540*324.0540
=60.206

Current CPI (Dec25) = 324.0540.

Himsnab Bulgaria AD Annual Data

Book Value per Share CPI Adj_Book
201212 38.461 229.601 54.283
201312 42.491 233.049 59.084
201412 39.127 234.812 53.997
201512 36.575 236.525 50.110
201612 37.513 241.432 50.351
201712 42.658 246.524 56.074
202212 46.834 296.797 51.135
202312 51.482 306.746 54.387
202412 51.463 315.605 52.841
202512 60.206 324.054 60.206

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 2.46 mean?
Himsnab Bulgaria AD (LTS:0N22) has a Cyclically Adjusted PB Ratio of 2.46 as of Aug. 13, 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 Himsnab Bulgaria AD and its competitors. This is near median its historical median of 2.50. Over the past decade, Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio has ranged from 1.26 to 2.79. According to the industry distribution chart, Himsnab Bulgaria AD ranks #1033 out of 1402 companies in the Real Estate industry, placing it in the top 73.7%.
Is Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio too high?
Himsnab Bulgaria AD's current Cyclically Adjusted PB Ratio of 2.46 is near median its 10-year median of 2.50. Over the past 10 years, this metric has ranged from a low of 1.26 to a high of 2.79. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.69. Himsnab Bulgaria AD's value of 2.46 is 256.5% above this industry median. Based on the distribution chart, Himsnab Bulgaria AD ranks #1033 out of 1402 companies in the Real Estate industry, which is below the industry midpoint. Overall, Himsnab Bulgaria AD has a GF Score™ of 25/100, reflecting its overall financial health beyond just this single metric.
How does Himsnab Bulgaria AD's Cyclically Adjusted PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Himsnab Bulgaria AD ranks #1033 out of 1402 companies for Cyclically Adjusted PB Ratio. This places Himsnab Bulgaria AD in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.69. Himsnab Bulgaria AD's value of 2.46 is 256.5% above this benchmark. Historically, Himsnab Bulgaria AD's own Cyclically Adjusted PB Ratio has ranged from 1.26 to 2.79 over the past decade. While the company's 10-year median is 2.50 vs. the industry median of 0.69, Himsnab Bulgaria AD 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 Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.69, based on 1,402 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. Himsnab Bulgaria AD's current Cyclically Adjusted PB Ratio of 2.46 is 256.5% 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 Himsnab Bulgaria AD and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Himsnab Bulgaria AD's current Cyclically Adjusted PB Ratio is 2.46, which is near median its own 10-year median of 2.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Himsnab Bulgaria AD stock overvalued right now?
Himsnab Bulgaria AD (LTS:0N22) has a current Cyclically Adjusted PB Ratio of 2.46. The current Cyclically Adjusted PB Ratio is 2.46, which is near median its 10-year median of 2.50 and 256.5% above the Real Estate industry median of 0.69. Himsnab Bulgaria AD's overall GF Score™ is 25/100 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 Himsnab Bulgaria AD (LTS:0N22), the current Cyclically Adjusted PB Ratio is 2.46 as of Aug. 13, 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.

Himsnab Bulgaria AD Business Description

Other Exchanges CHSB:Bulgaria
Address 1 Skladova Baza Street, Iliyantsi Quarter, Nadezhda District, Sofia, BGR, 1271
Himsnab Bulgaria AD is engaged in letting of own assets for rent for commercial, warehouse and office space and production, commercial activity.
25GF Score

Get the complete analysis for LTS:0N22

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

лв46.20
Price