MSIF (MSCome Fund) Cyclically Adjusted PB Ratio: (As of Aug. 08, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

MSIF MSC Income Fund Inc MSIF
45 GF Score
Price $12.48
GF Value $17.54
Valuation Modestly Undervalued
! 6 Warning Signs
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What is MSCome Fund Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


MSCome Fund  (NYSE:MSIF) 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.


MSCome Fund Cyclically Adjusted PB Ratio Related Terms


MSCome Fund Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for MSCome Fund'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.

MSCome Fund Cyclically Adjusted PB Ratio Chart

MSCome Fund 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 0.00 0.00 0.00 0.67 0.72

MSCome Fund 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 0.00 0.00 0.72 0.00 0.00

MSIF vs TWN, ETO, EIM: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, MSCome Fund'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.


MSCome Fund Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, MSCome Fund's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MSIF
45GF Score
MSC Income Fund Inc MSIF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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MSCome Fund 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.

MSCome Fund's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, MSCome Fund's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=15.868/330.2130*330.2130
=15.868

Current CPI (Mar. 2026) = 330.2130.

MSCome Fund Quarterly Data

Book Value per Share CPI Adj_Book
0.000 0.000
201609 0.000 241.428 0.000
201612 15.019 241.432 20.542
201703 0.000 243.801 0.000
201706 0.000 244.955 0.000
201709 16.228 246.819 21.711
201712 16.274 246.524 21.799
201803 16.256 249.554 21.510
201806 16.133 251.989 21.141
201809 16.348 252.439 21.385
201812 15.711 251.233 20.650
201903 15.837 254.202 20.573
201906 15.787 256.143 20.352
201909 15.579 256.759 20.036
201912 15.308 256.974 19.671
202003 12.802 258.115 16.378
202006 13.146 257.797 16.839
202009 14.198 260.280 18.013
202012 14.562 260.474 18.461
202103 14.680 264.877 18.301
202106 15.019 271.696 18.254
202109 15.130 274.310 18.213
202112 15.363 278.802 18.196
202203 15.441 287.504 17.735
202206 15.169 296.311 16.905
202209 15.224 296.808 16.937
202212 15.221 296.797 16.935
202303 15.179 301.836 16.606
202306 15.335 305.109 16.597
202309 15.337 307.789 16.454
202312 15.537 306.746 16.726
202403 15.441 312.332 16.325
202406 15.552 314.175 16.346
202409 15.379 315.301 16.106
202412 15.529 315.605 16.248
202503 15.346 319.799 15.846
202506 15.330 322.561 15.694
202509 15.536 324.800 15.795
202512 15.855 324.054 16.156
202603 15.868 330.213 15.868

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 MSCome Fund (MSIF) Overvalued in 2026?

Based on GuruFocus' analysis, MSCome Fund stock appears to be undervalued. The current stock price of $12.48 is trading 28.8% below its estimated GF Value™ of $17.54. GuruFocus considers MSCome Fund to be Modestly Undervalued.

Key valuation signals for MSIF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $17.54 vs. price of $12.48 (28.8% below fair value)
  • GF Score™: 45/100 with 6 warning signs

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


MSCome Fund Business Description

Address 1300 Post Oak Boulevard, 8th Floor, Houston, TX, USA, 77056
MSC Income Fund Inc is a non-diversified closed-end management investment company. The investment objective is to generate current income through debt and equity investments and the secondary objective is to generate long-term capital appreciation through such investments. The company invests in senior secured term loans, second lien loans, and mezzanine debt and selected equity investments issued by lower middle-market and middle-market companies.
45GF Score

Get the complete analysis for MSIF

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

$12.48
Price
$17.54
GF Value