OceanaGold (MEX:OGCN) Cyclically Adjusted PB Ratio: (As of Aug. 06, 2026)

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.

MEX:OGCN OceanaGold Corp MEX:OGCN
86 GF Score
Price MXN466.16
GF Value MXN363.08
! 1 Warning Sign
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What is OceanaGold Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


OceanaGold  (MEX:OGCN) 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.


OceanaGold Cyclically Adjusted PB Ratio Related Terms


OceanaGold Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for OceanaGold'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.

OceanaGold Cyclically Adjusted PB Ratio Chart

OceanaGold 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 0.72 0.78 0.73 1.12 3.51

OceanaGold 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 1.76 2.71 3.51 3.86 0.00

MEX:OGCN vs NEM, AU: Cyclically Adjusted PB Ratio Comparison

For the Gold subindustry, OceanaGold'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.


OceanaGold Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, OceanaGold's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MEX:OGCN
86GF Score
OceanaGold Corp MEX:OGCN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

OceanaGold 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.

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

For example, OceanaGold'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)
=196.629/133.5265*133.5265
=196.629

Current CPI (Jun. 2026) = 133.5265.

OceanaGold Quarterly Data

Book Value per Share CPI Adj_Book
201609 125.472 101.765 164.633
201612 135.161 101.449 177.899
201703 125.847 102.634 163.727
201706 122.240 103.029 158.425
201709 124.430 103.345 160.770
201712 142.616 103.345 184.267
201803 134.818 105.004 171.439
201806 148.188 105.557 187.453
201809 142.765 105.636 180.458
201812 149.186 105.399 188.999
201903 146.631 106.979 183.018
201906 146.414 107.690 181.540
201909 146.471 107.611 181.744
201912 142.164 107.769 176.142
202003 170.451 107.927 210.880
202006 166.985 108.401 205.689
202009 150.509 108.164 185.800
202012 132.652 108.559 163.160
202103 137.654 110.298 166.644
202106 136.757 111.720 163.451
202109 144.150 112.905 170.478
202112 135.352 113.774 158.851
202203 138.592 117.646 157.301
202206 139.778 120.806 154.496
202209 136.860 120.648 151.469
202212 138.978 120.964 153.411
202303 129.905 122.702 141.365
202306 128.351 124.203 137.986
202309 128.947 125.230 137.489
202312 124.763 125.072 133.196
202403 119.242 126.258 126.107
202406 134.124 127.522 140.440
202409 149.142 127.285 156.456
202412 162.095 127.364 169.938
202503 167.396 129.181 173.027
202506 165.467 129.892 170.097
202509 162.206 130.287 166.239
202512 181.264 130.366 185.658
202603 192.287 132.262 194.125
202606 196.629 133.527 196.629

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 OceanaGold (MEX:OGCN) Overvalued in 2026?

Based on GuruFocus' analysis, OceanaGold stock appears to be overvalued. The current stock price of MXN466.16 is trading 28.4% above its estimated GF Value™ of MXN363.08.

Key valuation signals for MEX:OGCN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: MXN363.08 vs. price of MXN466.16 (28.4% above fair value)
  • GF Score™: 86/100 with 1 warning sign

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


OceanaGold Business Description

Address 400 Burrard Street, Suite 1020, Vancouver, BC, CAN, V6C 3A6
OceanaGold Corp is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of Free Cash Flow from its operations and delivering robust returns for its shareholders. It has a portfolio of four operating mines: the Haile Gold Mine in the United States of America; the Didipio Mine in the Philippines; and the Macraes and Waihi operations in New Zealand. The company generates key revenue from Haile mines.
86GF Score

Get the complete analysis for MEX:OGCN

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

MXN466.16
Price
MXN363.08
GF Value