NBS Bank (MSW:NBS) Cyclically Adjusted PB Ratio: (As of Jul. 27, 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.

MSW:NBS NBS Bank PLC MSW:NBS
78 GF Score
Price MWK689.78
GF Value MWK444.65
Valuation Significantly Overvalued
! 1 Warning Sign
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What is NBS Bank Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


NBS Bank  (MSW:NBS) 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.


NBS Bank Cyclically Adjusted PB Ratio Related Terms


NBS Bank Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for NBS Bank'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.

NBS Bank Cyclically Adjusted PB Ratio Chart

NBS Bank 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 13.68 0.00

NBS Bank Semi-Annual Data
Dec15 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 13.68 0.00 0.00

MSW:NBS vs PNC, USB: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, NBS Bank'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.


NBS Bank Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, NBS Bank's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MSW:NBS
78GF Score
NBS Bank PLC MSW:NBS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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NBS Bank 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.

NBS Bank's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, NBS Bank's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=76.02/324.0540*324.0540
=76.020

Current CPI (Dec25) = 324.0540.

NBS Bank Annual Data

Book Value per Share CPI Adj_Book
201612 3.767 241.432 5.056
201712 4.302 246.524 5.655
201812 3.445 251.233 4.444
201912 5.010 256.974 6.318
202012 6.585 260.474 8.192
202112 7.954 278.802 9.245
202212 11.957 296.797 13.055
202312 17.187 306.746 18.157
202412 38.513 315.605 39.544
202512 76.020 324.054 76.020

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 NBS Bank (MSW:NBS) Overvalued in 2026?

Based on GuruFocus' analysis, NBS Bank stock appears to be overvalued. The current stock price of MWK689.78 is trading 55.1% above its estimated GF Value™ of MWK444.65. GuruFocus considers NBS Bank to be Significantly Overvalued.

Key valuation signals for MSW:NBS:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: MWK444.65 vs. price of MWK689.78 (55.1% above fair value)
  • GF Score™: 78/100 with 1 warning sign

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


NBS Bank Business Description

Address Corner Chipembere Highway & Johnstone Roads, NBS House, PO Box 32251, Chichiri, Ginnery Corner, Blantyre 3, Blantyre, MWI
NBS Bank PLC is predominantly involved in commercial banking, covering corporate and retail banking and treasury management. Services offered by the bank include current account, saving account, investment, loans, international trades, and internet banking. The company segments are divided into geographical areas including Northern region, Central region and the Southern region. Its branches are spread across Malawi.
78GF Score

Get the complete analysis for MSW:NBS

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

MWK689.78
Price
MWK444.65
GF Value