NAVER (NHNCF) Cyclically Adjusted PB Ratio: 1.20 (As of Sep. 16, 2026) — 84% Below Median

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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.

NHNCF NAVER Corp NHNCF
95 GF Score
Price $115.00
GF Value $147.04
! 3 Warning Signs
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What is NAVER Cyclically Adjusted PB Ratio?

NAVER NHNCF 95 Cyclically Adjusted PB Ratio is 1.20 as of Sep. 16, 2026, which is 84% below its 10-year median of 7.61. GuruFocus rates NHNCF with a GF Score™ of 95/100 and a GF Value™ of $147.04. The stock has 3 warning signs investors should review. Among 344 Interactive Media companies, NAVER ranks worse than 56.69% on this metric.

As of today (2026-09-16), NAVER's current share price is $115.00. NAVER's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was $95.51. NAVER's Cyclically Adjusted PB Ratio for today is 1.20.

The historical rank and industry rank for NAVER's Cyclically Adjusted PB Ratio or its related term are showing as below:

NHNCF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.63   Med: 7.61   Max: 17.87
Current: 1.77

During the past years, NAVER's highest Cyclically Adjusted PB Ratio was 17.87. The lowest was 1.63. And the median was 7.61.

NHNCF's Cyclically Adjusted PB Ratio is ranked worse than
56.69% of 344 companies
in the Interactive Media industry
Industry Median: 1.5 vs NHNCF: 1.77

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.

NAVER's adjusted book value per share data for the three months ended in Jun. 2026 was $133.696. 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 $95.51 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


NAVER  (OTCPK:NHNCF) 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.


NAVER Cyclically Adjusted PB Ratio Related Terms


NAVER Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for NAVER'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.

NAVER Cyclically Adjusted PB Ratio Chart

NAVER 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 2.26 1.80 1.51 1.28

NAVER 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 1.42 1.36 1.31 1.25 1.20

NHNCF vs GOOGL, META, SPOT: Cyclically Adjusted PB Ratio Comparison

For the Internet Content & Information subindustry, NAVER'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.


NAVER Cyclically Adjusted PB Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, NAVER's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NHNCF
95GF Score
NAVER Corp NHNCF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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NAVER 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.

NAVER's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=115.00/95.51
=1.20

* 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.

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

For example, NAVER'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)
=133.696/126.4904*126.4904
=133.696

Current CPI (Jun. 2026) = 126.4904.

NAVER Quarterly Data

Book Value per Share CPI Adj_Book
201609 26.348 101.461 32.848
201612 23.738 101.561 29.565
201703 26.509 102.851 32.602
201706 29.448 102.611 36.301
201709 30.582 103.491 37.379
201712 33.745 102.991 41.445
201803 34.514 104.101 41.937
201806 34.884 104.130 42.375
201809 36.237 105.651 43.385
201812 36.473 104.351 44.211
201903 36.636 104.491 44.349
201906 37.332 104.881 45.024
201909 37.002 105.200 44.490
201912 38.667 105.121 46.527
202003 42.130 105.354 50.582
202006 45.512 105.112 54.769
202009 43.597 106.198 51.928
202012 51.535 105.765 61.633
202103 133.643 107.357 157.461
202106 138.754 107.579 163.146
202109 136.949 108.759 159.276
202112 135.381 109.676 156.136
202203 130.654 111.848 147.758
202206 118.437 114.072 131.330
202209 113.460 114.715 125.106
202212 123.649 115.179 135.792
202303 123.302 116.507 133.867
202306 118.728 117.182 128.159
202309 117.147 118.964 124.559
202312 124.954 118.837 133.001
202403 120.746 120.123 127.146
202406 120.496 120.007 127.006
202409 132.242 120.861 138.401
202412 123.153 121.135 128.597
202503 127.499 122.590 131.556
202506 138.608 122.611 142.993
202509 137.275 123.402 140.711
202512 134.367 123.939 137.133
202603 134.885 125.236 136.236
202606 133.696 126.490 133.696

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.

What does a Cyclically Adjusted PB Ratio of 1.20 mean?
NAVER (NHNCF) has a Cyclically Adjusted PB Ratio of 1.20 as of Sep. 16, 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 NAVER and its competitors. This is 84% below median its historical median of 7.61. Over the past decade, NAVER's Cyclically Adjusted PB Ratio has ranged from 1.63 to 17.87. According to the industry distribution chart, NAVER ranks #195 out of 344 companies in the Interactive Media industry, placing it in the top 56.7%.
Is NAVER's Cyclically Adjusted PB Ratio too high?
NAVER's current Cyclically Adjusted PB Ratio of 1.20 is 84% below median its 10-year median of 7.61. Over the past 10 years, this metric has ranged from a low of 1.63 to a high of 17.87. The Interactive Media industry median Cyclically Adjusted PB Ratio is 1.50. NAVER's value of 1.20 is 20% below this industry median. Based on the distribution chart, NAVER ranks #195 out of 344 companies in the Interactive Media industry, which is below the industry midpoint. Overall, NAVER has a GF Score™ of 95/100, reflecting its overall financial health beyond just this single metric.
How does NAVER's Cyclically Adjusted PB Ratio compare to GOOGL and META?
According to the Interactive Media industry distribution chart, NAVER ranks #195 out of 344 companies for Cyclically Adjusted PB Ratio. This places NAVER in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.50. NAVER's value of 1.20 is 20% below this benchmark. Historically, NAVER's own Cyclically Adjusted PB Ratio has ranged from 1.63 to 17.87 over the past decade. While the company's 10-year median is 7.61 vs. the industry median of 1.50, NAVER has consistently been below the industry average. 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 an Interactive Media company?
The median Cyclically Adjusted PB Ratio among Interactive Media companies is 1.50, based on 344 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. NAVER's current Cyclically Adjusted PB Ratio of 1.20 is 20% below 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 NAVER and its competitors. For the Interactive Media industry, the median Cyclically Adjusted PB Ratio is 1.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NAVER's current Cyclically Adjusted PB Ratio is 1.20, which is 84% below median its own 10-year median of 7.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NAVER stock overvalued right now?
NAVER (NHNCF) has a current Cyclically Adjusted PB Ratio of 1.20. The stock's GF Value™ is $147.04, compared to a current price of $115.00 — trading 21.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.20, which is 84% below median its 10-year median of 7.61 and 20% below the Interactive Media industry median of 1.50. NAVER's overall GF Score™ is 95/100 with 3 warning signs to review. 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 NAVER (NHNCF), the current Cyclically Adjusted PB Ratio is 1.20 as of Sep. 16, 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.

Is NAVER (NHNCF) Overvalued in 2026?

Based on GuruFocus' analysis, NAVER stock appears to be undervalued. The current stock price of $115.00 is trading 21.8% below its estimated GF Value™ of $147.04.

Key valuation signals for NHNCF:

  • Cyclically Adjusted PB Ratio: 1.20 (84% below median its 10-year median of 7.61)
  • GF Value™: $147.04 vs. price of $115.00 (21.8% below fair value)
  • GF Score™: 95/100 with 3 warning signs
  • Industry Position: 20% below the Interactive Media median (#195 of 344)

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


NAVER Business Description

Other Exchanges 035420:Korea
Address Naver 1784, 95 Jeongjail-ro, Bundang-gu, Gyeonggi Province, Seongnam, KOR, 13561
Naver has been the leading search portal in South Korea for many years. The company has also been evolving into an internet platform providing a variety of internet services, such as news, a dictionary, maps, digital comic content, social networking, e-commerce, videos, fintech services based on online payments, and Cloud services. Naver was also the incubator of Line Yahoo, the leading mobile messaging app in Japan, Taiwan, Thailand, and Indonesia, which merged with Z Holdings (Yahoo Japan), with Naver now owning 32.5% of the merged entity renamed LY. Naver is now launching AI products using its proprietary data.
95GF Score

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

$115.00
Price
$147.04
GF Value