National Bank of OmanOG (MUS:NBOB) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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.
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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.

MUS:NBOB National Bank of Oman SAOG MUS:NBOB
46 GF Score
Price ر.ع0.49
GF Value ر.ع0.31
Valuation Significantly Overvalued
! 7 Warning Signs
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What is National Bank of OmanOG Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


National Bank of OmanOG  (MUS:NBOB) 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.


National Bank of OmanOG Cyclically Adjusted PB Ratio Related Terms


National Bank of OmanOG Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for National Bank of OmanOG'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.

National Bank of OmanOG Cyclically Adjusted PB Ratio Chart

National Bank of OmanOG 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 0.54 0.97 0.90 0.91 1.12

National Bank of OmanOG 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 0.94 1.05 1.18 1.16 1.48

MUS:NBOB vs USB, PNC: Cyclically Adjusted PB Ratio Comparison

For the Banks - Regional subindustry, National Bank of OmanOG'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.


National Bank of OmanOG Cyclically Adjusted PB Ratio vs Banks Industry

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

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


MUS:NBOB
46GF Score
National Bank of Oman SAOG MUS:NBOB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

National Bank of OmanOG 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.

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

For example, National Bank of OmanOG'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)
=0.383/333.9520*333.9520
=0.383

Current CPI (Jun. 2026) = 333.9520.

National Bank of OmanOG Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.236 241.428 0.326
201612 0.235 241.432 0.325
201703 0.229 243.801 0.314
201706 0.232 244.955 0.316
201709 0.237 246.819 0.321
201712 0.252 246.524 0.341
201803 0.230 249.554 0.308
201806 0.234 251.989 0.310
201809 0.242 252.439 0.320
201812 0.330 251.233 0.439
201903 0.250 254.202 0.328
201906 0.254 256.143 0.331
201909 0.264 256.759 0.343
201912 0.270 256.974 0.351
202003 0.253 258.115 0.327
202006 0.255 257.797 0.330
202009 0.256 260.280 0.328
202012 0.255 260.474 0.327
202103 0.259 264.877 0.327
202106 0.264 271.696 0.324
202109 0.269 274.310 0.327
202112 0.271 278.802 0.325
202203 0.274 287.504 0.318
202206 0.277 296.311 0.312
202209 0.286 296.808 0.322
202212 0.291 296.797 0.327
202303 0.293 301.836 0.324
202306 0.298 305.109 0.326
202309 0.307 307.789 0.333
202312 0.312 306.746 0.340
202403 0.313 312.332 0.335
202406 0.319 314.175 0.339
202409 0.328 315.301 0.347
202412 0.334 315.605 0.353
202503 0.333 319.799 0.348
202506 0.345 322.561 0.357
202509 0.361 324.800 0.371
202512 0.370 324.054 0.381
202603 0.383 330.213 0.387
202606 0.383 333.952 0.383

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 National Bank of OmanOG (MUS:NBOB) Overvalued in 2026?

Based on GuruFocus' analysis, National Bank of OmanOG stock appears to be overvalued. The current stock price of ر.ع0.49 is trading 57.1% above its estimated GF Value™ of ر.ع0.31. GuruFocus considers National Bank of OmanOG to be Significantly Overvalued.

Key valuation signals for MUS:NBOB:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ر.ع0.31 vs. price of ر.ع0.49 (57.1% above fair value)
  • GF Score™: 46/100 with 7 warning signs

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


National Bank of OmanOG Business Description

Address Ruwi, P.O. Box 751, Muscat, OMN, 112
National Bank of Oman SAOG operates with segments including Retail Banking, Wholesale Banking, International Banking, Islamic Banking, and the Funding Centre. Retail Banking offers products and facilities to individual and high net-worth customers, including personal loans, housing loans, credit cards, term loans, and deposit accounts. Wholesale Banking generates the maximum revenue and provides lending, deposits, trade finance, treasury, foreign exchange, and investment banking services. International Banking includes operations in the UAE and Egypt, while Islamic Banking offers Shari'a-compliant products. The Funding Centre manages liquidity, fund allocation, and investments, including asset/liability management and cash instruments. The company generates maximum revenue from Oman.
46GF Score

Get the complete analysis for MUS:NBOB

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

ر.ع0.49
Price
ر.ع0.31
GF Value