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.
MIC:GMKN's Cyclically Adjusted PB Ratio is not ranked *
in the Metals & Mining industry.
Industry Median: 1.56 * Ranked among companies with meaningful Cyclically Adjusted PB Ratio only.
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.
PJSC Mining & Metallurgical Co Norilsk Nickel's adjusted book value per share data of for the fiscal year that ended in Dec23 was ₽37.753. 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 ₽24.86 for the trailing ten years ended in Dec23.
Shiller PE for Stocks: The True Measure of Stock Valuation
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) 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.
PJSC Mining & Metallurgical Co Norilsk Nickel Cyclically Adjusted PB Ratio Related Terms
PJSC Mining & Metallurgical Co Norilsk Nickel Cyclically Adjusted PB Ratio Historical Data
* 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.
PJSC Mining & Metallurgical Co Norilsk Nickel Cyclically Adjusted PB Ratio Chart
PJSC Mining & Metallurgical Co Norilsk Nickel Annual Data
PJSC Mining & Metallurgical Co Norilsk Nickel Cyclically Adjusted PB Ratio Competitor Comparison
For the Other Industrial Metals & Mining subindustry, PJSC Mining & Metallurgical Co Norilsk Nickel'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.
PJSC Mining & Metallurgical Co Norilsk Nickel Cyclically Adjusted PB Ratio vs Metals & Mining Industry
PJSC Mining & Metallurgical Co Norilsk Nickel 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 5.24 mean?
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) has a Cyclically Adjusted PB Ratio of 5.24 as of Sep. 07, 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 PJSC Mining & Metallurgical Co Norilsk Nickel and its competitors.
Is PJSC Mining & Metallurgical Co Norilsk Nickel's Cyclically Adjusted PB Ratio too high?
PJSC Mining & Metallurgical Co Norilsk Nickel's current Cyclically Adjusted PB Ratio is 5.24. The Metals & Mining industry median Cyclically Adjusted PB Ratio is 1.56. PJSC Mining & Metallurgical Co Norilsk Nickel's value of 5.24 is 235.9% above this industry median. Overall, PJSC Mining & Metallurgical Co Norilsk Nickel has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does PJSC Mining & Metallurgical Co Norilsk Nickel's Cyclically Adjusted PB Ratio compare to competitors?
PJSC Mining & Metallurgical Co Norilsk Nickel's Cyclically Adjusted PB Ratio of 5.24 can be compared against companies in the Metals & Mining industry. The industry median Cyclically Adjusted PB Ratio is 1.56. PJSC Mining & Metallurgical Co Norilsk Nickel's value of 5.24 is 235.9% above this benchmark. 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 Metals & Mining company?
The median Cyclically Adjusted PB Ratio among Metals & Mining companies is 1.56, based on 1,499 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. PJSC Mining & Metallurgical Co Norilsk Nickel's current Cyclically Adjusted PB Ratio of 5.24 is 235.9% 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 PJSC Mining & Metallurgical Co Norilsk Nickel and its competitors. For the Metals & Mining industry, the median Cyclically Adjusted PB Ratio is 1.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PJSC Mining & Metallurgical Co Norilsk Nickel's current Cyclically Adjusted PB Ratio is 5.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PJSC Mining & Metallurgical Co Norilsk Nickel stock overvalued right now?
PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN) has a current Cyclically Adjusted PB Ratio of 5.24. The current Cyclically Adjusted PB Ratio is 5.24 and 235.9% above the Metals & Mining industry median of 1.56. PJSC Mining & Metallurgical Co Norilsk Nickel's overall GF Score™ is 17/100. 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 PJSC Mining & Metallurgical Co Norilsk Nickel (MIC:GMKN), the current Cyclically Adjusted PB Ratio is 5.24 as of Sep. 07, 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.
PJSC Mining & Metallurgical Co Norilsk Nickel is a metal and mining company engaged in activities such as exploration, extraction, refining of ore and nonmetallic minerals, and sale of base and precious minerals. The company is organized into seven operating business segments: GMK Group, South Cluster, KGMK Group, NN Harjavalta, GRK Bystrinskoye, other mining, and other nonmetallurgical. The majority of the company's revenue is derived from the GMK Group segment which includes mining, processing and other metallurgy operations, and sale of precious metals. More than half the company's consolidated revenue is earned from the sale of metals to customers in Europe.
17GF Score
Get the complete analysis for MIC:GMKN
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
MIC:GMKN has been successfully added to your 
