Industrial Investment Trust (LUX:INITL) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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.

LUX:INITL Industrial Investment Trust Ltd LUX:INITL
65 GF Score
Price $4.92
GF Value $6.13
! 1 Warning Sign
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What is Industrial Investment Trust Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Industrial Investment Trust  (LUX:INITL) 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.


Industrial Investment Trust Cyclically Adjusted PB Ratio Related Terms


Industrial Investment Trust Cyclically Adjusted PB Ratio Historical Data

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The historical data trend for Industrial Investment Trust'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.

Industrial Investment Trust Cyclically Adjusted PB Ratio Chart

Industrial Investment Trust Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.26 0.29 0.73 0.79 0.84

Industrial Investment Trust 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 0.78 0.77 0.76 0.84 0.83

LUX:INITL vs V, MA, AXP: Cyclically Adjusted PB Ratio Comparison

For the Credit Services subindustry, Industrial Investment Trust'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.


Industrial Investment Trust Cyclically Adjusted PB Ratio vs Credit Services Industry

For the Credit Services industry and Financial Services sector, Industrial Investment Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Industrial Investment Trust's Cyclically Adjusted PB Ratio falls into.


LUX:INITL
65GF Score
Industrial Investment Trust Ltd LUX:INITL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Industrial Investment Trust 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.

Industrial Investment Trust's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar26 is calculated as:

For example, Industrial Investment Trust's adjusted Book Value per Share data for the fiscal year that ended in Mar26 was:

Adj_Book=Book Value per Share/CPI of Mar26 (Change)*Current CPI (Mar26)
=4.539/164.2724*164.2724
=4.539

Current CPI (Mar26) = 164.2724.

Industrial Investment Trust Annual Data

Book Value per Share CPI Adj_Book
201703 6.702 105.196 10.466
201803 5.702 109.786 8.532
201903 4.741 118.202 6.589
202003 3.816 124.705 5.027
202103 3.382 131.771 4.216
202203 3.680 138.822 4.355
202303 3.868 146.865 4.326
202403 4.569 153.035 4.905
202503 5.179 157.552 5.400
202603 4.539 164.272 4.539

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 Industrial Investment Trust (LUX:INITL) Overvalued in 2026?

Based on GuruFocus' analysis, Industrial Investment Trust stock appears to be undervalued. The current stock price of $4.92 is trading 19.7% below its estimated GF Value™ of $6.13.

Key valuation signals for LUX:INITL:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $6.13 vs. price of $4.92 (19.7% below fair value)
  • GF Score™: 65/100 with 1 warning sign

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


Industrial Investment Trust Business Description

Other Exchanges IITL:India501295:India
Address Bandra Kurla Complex, Office No.101A, The Capital, B wing, G Block, Plot No. C-70, Bandra East, Mumbai, MH, IND, 400051
Industrial Investment Trust Ltd is principally a non-banking financial company. Along with its subsidiaries, the company has four principal operating and reporting segments: Investment Activity, Lending Activity, Real Estate, and Others. The majority of its revenue is generated from the Lending Activity.
65GF Score

Get the complete analysis for LUX:INITL

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

$4.92
Price
$6.13
GF Value