Alibaba Group Holding (MEX:9988N) Cyclically Adjusted PB Ratio: 2.34 (As of Aug. 25, 2026) — 23% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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MEX:9988N Alibaba Group Holding Ltd MEX:9988N
77 GF Score
Price MXN256.38
GF Value MXN257.12
Valuation Fairly Valued
! 3 Warning Signs
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What is Alibaba Group Holding Cyclically Adjusted PB Ratio?

Alibaba Group Holding MEX:9988N 77 Cyclically Adjusted PB Ratio is 2.34 as of Aug. 25, 2026, which is 23% below its 10-year median of 3.05. GuruFocus rates MEX:9988N with a GF Score™ of 77/100 and a GF Value™ of MXN257.12 (Fairly Valued). The stock has 3 warning signs investors should review. Among 780 Retail - Cyclical companies, Alibaba Group Holding ranks worse than 73.97% on this metric.

As of today (2026-08-25), Alibaba Group Holding's current share price is MXN256.38. Alibaba Group Holding's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was MXN109.52. Alibaba Group Holding's Cyclically Adjusted PB Ratio for today is 2.34.

The historical rank and industry rank for Alibaba Group Holding's Cyclically Adjusted PB Ratio or its related term are showing as below:

MEX:9988N' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.96   Med: 3.05   Max: 20.35
Current: 2.52

During the past years, Alibaba Group Holding's highest Cyclically Adjusted PB Ratio was 20.35. The lowest was 1.96. And the median was 3.05.

MEX:9988N's Cyclically Adjusted PB Ratio is ranked worse than
73.97% of 780 companies
in the Retail - Cyclical industry
Industry Median: 1.21 vs MEX:9988N: 2.52

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.

Alibaba Group Holding's adjusted book value per share data for the three months ended in Jun. 2026 was MXN140.755. 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 MXN109.52 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Alibaba Group Holding  (MEX:9988N) 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.


Alibaba Group Holding Cyclically Adjusted PB Ratio Related Terms


Alibaba Group Holding Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Alibaba Group Holding'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.

Alibaba Group Holding Cyclically Adjusted PB Ratio Chart

Alibaba Group Holding 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 4.33 3.26 2.06 3.27 2.73

Alibaba Group Holding 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 2.73 4.16 3.30 2.73 2.04

MEX:9988N vs PDD, MELI, DASH: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, Alibaba Group Holding'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.


Alibaba Group Holding Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Alibaba Group Holding's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Alibaba Group Holding's Cyclically Adjusted PB Ratio falls into.


MEX:9988N
77GF Score
Alibaba Group Holding Ltd MEX:9988N
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Alibaba Group Holding 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.

Alibaba Group Holding's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=256.38/109.52
=2.34

* 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.

Alibaba Group Holding's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Alibaba Group Holding'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)
=140.755/121.3631*121.3631
=140.755

Current CPI (Jun. 2026) = 121.3631.

Alibaba Group Holding Quarterly Data

Book Value per Share CPI Adj_Book
201609 35.715 102.565 42.261
201612 38.825 103.225 45.647
201703 37.631 103.335 44.196
201706 39.191 103.664 45.882
201709 43.361 103.994 50.603
201712 50.665 104.984 58.570
201803 51.130 105.973 58.555
201806 58.065 106.193 66.360
201809 55.579 106.852 63.127
201812 63.520 107.622 71.630
201903 68.740 108.172 77.123
201906 69.663 109.601 77.139
201909 80.174 110.260 88.247
201912 93.233 110.700 102.214
202003 117.392 110.920 128.445
202006 121.823 110.590 133.690
202009 128.421 107.512 144.966
202012 131.358 109.711 145.310
202103 135.637 111.579 147.530
202106 138.986 111.360 151.471
202109 141.391 109.051 157.355
202112 145.953 112.349 157.664
202203 139.370 113.558 148.949
202206 136.623 113.448 146.155
202209 128.251 113.778 136.801
202212 131.846 114.548 139.691
202303 126.119 115.427 132.605
202306 118.934 115.647 124.813
202309 121.260 116.087 126.772
202312 120.123 117.296 124.288
202403 116.777 117.735 120.375
202406 124.515 117.296 128.833
202409 138.544 118.615 141.754
202412 150.562 118.945 153.623
202503 150.019 119.384 152.505
202506 139.265 119.055 141.965
202509 139.292 119.934 140.952
202512 139.159 120.704 139.919
202603 149.391 121.473 149.256
202606 140.755 121.363 140.755

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 2.34 mean?
Alibaba Group Holding (MEX:9988N) has a Cyclically Adjusted PB Ratio of 2.34 as of Aug. 25, 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 Alibaba Group Holding and its competitors. This is 23% below median its historical median of 3.05. Over the past decade, Alibaba Group Holding's Cyclically Adjusted PB Ratio has ranged from 1.96 to 20.35. According to the industry distribution chart, Alibaba Group Holding ranks #577 out of 780 companies in the Retail - Cyclical industry, placing it in the top 74%.
Is Alibaba Group Holding's Cyclically Adjusted PB Ratio too high?
Alibaba Group Holding's current Cyclically Adjusted PB Ratio of 2.34 is 23% below median its 10-year median of 3.05. Over the past 10 years, this metric has ranged from a low of 1.96 to a high of 20.35. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.21. Alibaba Group Holding's value of 2.34 is 93.4% above this industry median. Based on the distribution chart, Alibaba Group Holding ranks #577 out of 780 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Alibaba Group Holding has a GF Score™ of 77/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Alibaba Group Holding's Cyclically Adjusted PB Ratio compare to PDD and MELI?
According to the Retail - Cyclical industry distribution chart, Alibaba Group Holding ranks #577 out of 780 companies for Cyclically Adjusted PB Ratio. This places Alibaba Group Holding in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.21. Alibaba Group Holding's value of 2.34 is 93.4% above this benchmark. Historically, Alibaba Group Holding's own Cyclically Adjusted PB Ratio has ranged from 1.96 to 20.35 over the past decade. While the company's 10-year median is 3.05 vs. the industry median of 1.21, Alibaba Group Holding 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 Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.21, based on 780 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. Alibaba Group Holding's current Cyclically Adjusted PB Ratio of 2.34 is 93.4% 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 Alibaba Group Holding and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Alibaba Group Holding's current Cyclically Adjusted PB Ratio is 2.34, which is 23% below median its own 10-year median of 3.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Alibaba Group Holding stock overvalued right now?
Based on GuruFocus' analysis, Alibaba Group Holding (MEX:9988N) is currently considered Fairly Valued. The stock's GF Value™ is MXN257.12, compared to a current price of MXN256.38 — trading 0.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.34, which is 23% below median its 10-year median of 3.05 and 93.4% above the Retail - Cyclical industry median of 1.21. Alibaba Group Holding's overall GF Score™ is 77/100 with 3 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 Alibaba Group Holding (MEX:9988N), the current Cyclically Adjusted PB Ratio is 2.34 as of Aug. 25, 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 Alibaba Group Holding (MEX:9988N) Overvalued in 2026?

Based on GuruFocus' analysis, Alibaba Group Holding stock appears to be undervalued. The current stock price of MXN256.38 is trading 0.3% below its estimated GF Value™ of MXN257.12. GuruFocus considers Alibaba Group Holding to be Fairly Valued.

Key valuation signals for MEX:9988N:

  • Cyclically Adjusted PB Ratio: 2.34 (23% below median its 10-year median of 3.05)
  • GF Value™: MXN257.12 vs. price of MXN256.38 (0.3% below fair value)
  • GF Score™: 77/100 with 3 warning signs
  • Industry Position: 93.4% above the Retail - Cyclical median (#577 of 780)

No single metric tells the full story. See the MEX:9988N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Alibaba Group Holding Business Description

Address 1 Matheson Street, Causeway Bay, 26th Floor, Tower One, Times Square, Hong Kong, HKG
Alibaba is the world's largest online and mobile commerce company as measured by gross merchandise volume. It operates China's online marketplaces, including Taobao (consumer-to-consumer) and Tmall (business-to-consumer). The China retail e-commerce platform is the most valuable cash flow-generating business at Alibaba. Additional revenue sources include China wholesale e-commerce, international retail and wholesale e-commerce, local consumer services, travel services, cloud computing, digital media and entertainment, Cainiao logistics services, and other businesses.
77GF Score

Get the complete analysis for MEX:9988N

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

MXN256.38
Price
MXN257.12
GF Value