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HBM NigeriaNSA:HBMNG 77 Cyclically Adjusted PB Ratio is 11.02 as of Aug. 29, 2026, which is 782% above its 10-year median of 1.25. GuruFocus rates NSA:HBMNG with a GF Score™ of 77/100 and a GF Value™ of ₦139.56 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 285 Building Materials companies, HBM Nigeria ranks worse than 96.14% on this metric.
The historical rank and industry rank for HBM Nigeria's Cyclically Adjusted PB Ratio or its related term are showing as below:
NSA:HBMNG'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.8 Med: 1.25 Max: 11.97
Current: 11.01
During the past years, HBM Nigeria's highest Cyclically Adjusted PB Ratio was 11.97. The lowest was 0.80. And the median was 1.25.
NSA:HBMNG's Cyclically Adjusted PB Ratio is ranked worse than 96.14% of 285
companies
in the Building Materials industry
Industry Median: 0.98
vs NSA:HBMNG: 11.01
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.
HBM Nigeria's adjusted book value per share data for the three months ended in Jun. 2026 was ₦50.019. 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 ₦30.32 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
HBM Nigeria (NSA:HBMNG) 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.
HBM Nigeria Cyclically Adjusted PB Ratio Related Terms
HBM Nigeria Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for HBM Nigeria'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.
NSA:HBMNG vs CRH, VMC, MLM: Cyclically Adjusted PB Ratio Comparison
For the Building Materials subindustry, HBM Nigeria'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.
HBM Nigeria Cyclically Adjusted PB Ratio vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, HBM Nigeria's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where HBM Nigeria's Cyclically Adjusted PB Ratio falls into.
HBM Nigeria 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.
HBM Nigeria's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 11.02 mean?
HBM Nigeria (NSA:HBMNG) has a Cyclically Adjusted PB Ratio of 11.02 as of Aug. 29, 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 HBM Nigeria and its competitors. This is 782% above median its historical median of 1.25. Over the past decade, HBM Nigeria's Cyclically Adjusted PB Ratio has ranged from 0.80 to 11.97. According to the industry distribution chart, HBM Nigeria ranks #274 out of 285 companies in the Building Materials industry, placing it in the top 96.1%.
Is HBM Nigeria's Cyclically Adjusted PB Ratio too high?
HBM Nigeria's current Cyclically Adjusted PB Ratio of 11.02 is 782% above median its 10-year median of 1.25. Over the past 10 years, this metric has ranged from a low of 0.80 to a high of 11.97. The Building Materials industry median Cyclically Adjusted PB Ratio is 0.98. HBM Nigeria's value of 11.02 is 1024.5% above this industry median. Based on the distribution chart, HBM Nigeria ranks #274 out of 285 companies in the Building Materials industry, which is in the bottom quartile relative to peers. Overall, HBM Nigeria has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does HBM Nigeria's Cyclically Adjusted PB Ratio compare to CRH and VMC?
According to the Building Materials industry distribution chart, HBM Nigeria ranks #274 out of 285 companies for Cyclically Adjusted PB Ratio. This places HBM Nigeria in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.98. HBM Nigeria's value of 11.02 is 1024.5% above this benchmark. Historically, HBM Nigeria's own Cyclically Adjusted PB Ratio has ranged from 0.80 to 11.97 over the past decade. While the company's 10-year median is 1.25 vs. the industry median of 0.98, HBM Nigeria has consistently been above 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 a Building Materials company?
The median Cyclically Adjusted PB Ratio among Building Materials companies is 0.98, based on 285 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. HBM Nigeria's current Cyclically Adjusted PB Ratio of 11.02 is 1024.5% above 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 HBM Nigeria and its competitors. For the Building Materials industry, the median Cyclically Adjusted PB Ratio is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HBM Nigeria's current Cyclically Adjusted PB Ratio is 11.02, which is 782% above median its own 10-year median of 1.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HBM Nigeria stock overvalued right now?
Based on GuruFocus' analysis, HBM Nigeria (NSA:HBMNG) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦139.56, compared to a current price of ₦334.00 — trading 139.3% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 11.02, which is 782% above median its 10-year median of 1.25 and 1024.5% above the Building Materials industry median of 0.98. HBM Nigeria's overall GF Score™ is 77/100 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 HBM Nigeria (NSA:HBMNG), the current Cyclically Adjusted PB Ratio is 11.02 as of Aug. 29, 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 HBM Nigeria (NSA:HBMNG) Overvalued in 2026?
Based on GuruFocus' analysis, HBM Nigeria stock appears to be overvalued.
The current stock price of ₦334.00 is trading 139.3% above its estimated GF Value™ of ₦139.56.
GuruFocus considers HBM Nigeria to be Significantly Overvalued.
Key valuation signals for NSA:HBMNG:
Cyclically Adjusted PB Ratio: 11.02 (782% above median its 10-year median of 1.25)
GF Value™: ₦139.56 vs. price of ₦334.00 (139.3% above fair value)
Industry Position: 1024.5% above the Building Materials median (#274 of 285)
No single metric tells the full story. See the NSA:HBMNG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Lafarge Africa PLC through its subsidiaries is engaged in manufacturing and marketing of cement, concrete, and aggregates products, including the provision of building solutions. The brands in products portfolio of the company includes ECOPlanet Unicem, Elephant cement, ThermoSet, Watershield, Powermax, and Supaset cement among others. It has two segments Cement & Readymix products. The majority of the revenue is generated from the cement segment.
77GF Score
Get the complete analysis for NSA:HBMNG
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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