MWTCY (Manila Water Co) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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
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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.

MWTCY Manila Water Co Inc MWTCY
87 GF Score
Price $14.34
GF Value $15.76
Valuation Fairly Valued
! 4 Warning Signs
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What is Manila Water Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Manila Water Co  (OTCPK:MWTCY) 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.


Manila Water Co Cyclically Adjusted PB Ratio Related Terms


Manila Water Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Manila Water Co'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.

Manila Water Co Cyclically Adjusted PB Ratio Chart

Manila Water Co 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 1.00 0.66 0.57 0.79 1.09

Manila Water Co 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 0.92 1.13 1.12 1.10 0.96

MWTCY vs AWK, WTRG, AWR: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Water subindustry, Manila Water Co'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.


Manila Water Co Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Manila Water Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


MWTCY
87GF Score
Manila Water Co Inc MWTCY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Manila Water Co 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.

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

For example, Manila Water Co'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)
=15.754/333.9520*333.9520
=15.754

Current CPI (Jun. 2026) = 333.9520.

Manila Water Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 9.264 241.428 12.814
201612 9.162 241.432 12.673
201703 9.186 243.801 12.583
201706 9.518 244.955 12.976
201709 9.993 246.819 13.521
201712 9.960 246.524 13.492
201803 11.519 249.554 15.415
201806 11.739 251.989 15.557
201809 11.966 252.439 15.830
201812 12.359 251.233 16.428
201903 12.395 254.202 16.284
201906 13.069 256.143 17.039
201909 13.310 256.759 17.312
201912 13.379 256.974 17.387
202003 13.606 258.115 17.604
202006 14.178 257.797 18.366
202009 14.713 260.280 18.878
202012 15.161 260.474 19.438
202103 15.354 264.877 19.358
202106 13.086 271.696 16.085
202109 12.706 274.310 15.469
202112 12.505 278.802 14.979
202203 12.484 287.504 14.501
202206 12.040 296.311 13.569
202209 16.313 296.808 18.354
202212 17.295 296.797 19.460
202303 14.843 301.836 16.422
202306 15.053 305.109 16.476
202309 14.950 307.789 16.221
202312 15.877 306.746 17.285
202403 15.621 312.332 16.702
202406 13.081 314.175 13.904
202409 17.208 315.301 18.226
202412 16.618 315.605 17.584
202503 16.555 319.799 17.288
202506 14.822 322.561 15.345
202509 15.162 324.800 15.589
202512 15.748 324.054 16.229
202603 15.084 330.213 15.255
202606 15.754 333.952 15.754

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 Manila Water Co (MWTCY) Overvalued in 2026?

Based on GuruFocus' analysis, Manila Water Co stock appears to be undervalued. The current stock price of $14.34 is trading 9% below its estimated GF Value™ of $15.76. GuruFocus considers Manila Water Co to be Fairly Valued.

Key valuation signals for MWTCY:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $15.76 vs. price of $14.34 (9% below fair value)
  • GF Score™: 87/100 with 4 warning signs

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


Manila Water Co Business Description

Other Exchanges MWC:Philippines
Address 489 Katipunan Road, 2nd Floor, MWSS Administration Building, Balara, Quezon, PHL, 1105
Manila Water Co Inc holds the exclusive right to provide water and used water services in the East Zone of Metro Manila under a concession agreement with the Metropolitan Waterworks and Sewerage System. The company delivers water treatment, distribution, sewerage, and sanitation services to a large population across residential, commercial, and industrial customers. Its service area covers several cities and municipalities in Metro Manila and nearby parts of Rizal, including urban centers such as Makati, Pasig, Quezon City, Taguig, and Marikina, along with surrounding towns.
87GF Score

Get the complete analysis for MWTCY

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

$14.34
Price
$15.76
GF Value