Mutual Benefits AssuranceNSA:MBAS 61 Cyclically Adjusted PB Ratio is 1.78 as of Jul. 03, 2026, which is at its 10-year median of 1.78. GuruFocus rates NSA:MBAS with a GF Score™ of 61/100 and a GF Value™ of ₦2.26 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 418 Insurance companies, Mutual Benefits Assurance ranks worse than 61.48% on this metric.
The historical rank and industry rank for Mutual Benefits Assurance's Cyclically Adjusted PB Ratio or its related term are showing as below:
NSA:MBAS'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.43 Med: 1.78 Max: 3.01
Current: 1.78
During the past 11 years, Mutual Benefits Assurance's highest Cyclically Adjusted PB Ratio was 3.01. The lowest was 0.43. And the median was 1.78.
NSA:MBAS's Cyclically Adjusted PB Ratio is ranked worse than 61.48% of 418
companies
in the Insurance industry
Industry Median: 1.38
vs NSA:MBAS: 1.78
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.
Mutual Benefits Assurance's adjusted book value per share data of for the fiscal year that ended in Dec25 was ₦4.631. 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 ₦1.80 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Mutual Benefits Assurance (NSA:MBAS) 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.
Mutual Benefits Assurance Cyclically Adjusted PB Ratio Related Terms
Mutual Benefits Assurance Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Mutual Benefits Assurance'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.
Mutual Benefits Assurance Cyclically Adjusted PB Ratio Chart
NSA:MBAS vs BRK.A, AIG, HIG: Cyclically Adjusted PB Ratio Comparison
For the Insurance - Diversified subindustry, Mutual Benefits Assurance'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.
Mutual Benefits Assurance Cyclically Adjusted PB Ratio vs Insurance Industry
For the Insurance industry and Financial Services sector, Mutual Benefits Assurance's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Mutual Benefits Assurance's Cyclically Adjusted PB Ratio falls into.
Mutual Benefits Assurance 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.
* 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 1.78 mean?
Mutual Benefits Assurance (NSA:MBAS) has a Cyclically Adjusted PB Ratio of 1.78 as of Jul. 03, 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 Mutual Benefits Assurance and its competitors. This is near median its historical median of 1.78. Over the past decade, Mutual Benefits Assurance's Cyclically Adjusted PB Ratio has ranged from 0.43 to 3.01. According to the industry distribution chart, Mutual Benefits Assurance ranks #257 out of 418 companies in the Insurance industry, placing it in the top 61.5%.
Is Mutual Benefits Assurance's Cyclically Adjusted PB Ratio too high?
Mutual Benefits Assurance's current Cyclically Adjusted PB Ratio of 1.78 is near median its 10-year median of 1.78. Over the past 10 years, this metric has ranged from a low of 0.43 to a high of 3.01. The Insurance industry median Cyclically Adjusted PB Ratio is 1.38. Mutual Benefits Assurance's value of 1.78 is 29% above this industry median. Based on the distribution chart, Mutual Benefits Assurance ranks #257 out of 418 companies in the Insurance industry, which is below the industry midpoint. Overall, Mutual Benefits Assurance has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mutual Benefits Assurance's Cyclically Adjusted PB Ratio compare to BRK.A and AIG?
According to the Insurance industry distribution chart, Mutual Benefits Assurance ranks #257 out of 418 companies for Cyclically Adjusted PB Ratio. This places Mutual Benefits Assurance in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.38. Mutual Benefits Assurance's value of 1.78 is 29% above this benchmark. Historically, Mutual Benefits Assurance's own Cyclically Adjusted PB Ratio has ranged from 0.43 to 3.01 over the past decade. While the company's 10-year median is 1.78 vs. the industry median of 1.38, Mutual Benefits Assurance 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 an Insurance company?
The median Cyclically Adjusted PB Ratio among Insurance companies is 1.38, based on 418 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. Mutual Benefits Assurance's current Cyclically Adjusted PB Ratio of 1.78 is 29% 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 Mutual Benefits Assurance and its competitors. For the Insurance industry, the median Cyclically Adjusted PB Ratio is 1.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mutual Benefits Assurance's current Cyclically Adjusted PB Ratio is 1.78, which is near median its own 10-year median of 1.78. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mutual Benefits Assurance stock overvalued right now?
Based on GuruFocus' analysis, Mutual Benefits Assurance (NSA:MBAS) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦2.26, compared to a current price of ₦3.20 — trading 41.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.78, which is near median its 10-year median of 1.78 and 29% above the Insurance industry median of 1.38. Mutual Benefits Assurance's overall GF Score™ is 61/100 with 1 warning sign 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 Mutual Benefits Assurance (NSA:MBAS), the current Cyclically Adjusted PB Ratio is 1.78 as of Jul. 03, 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 Mutual Benefits Assurance (NSA:MBAS) Overvalued in 2026?
Based on GuruFocus' analysis, Mutual Benefits Assurance stock appears to be overvalued.
The current stock price of ₦3.20 is trading 41.6% above its estimated GF Value™ of ₦2.26.
GuruFocus considers Mutual Benefits Assurance to be Significantly Overvalued.
Key valuation signals for NSA:MBAS:
Cyclically Adjusted PB Ratio: 1.78 (near median its 10-year median of 1.78)
GF Value™: ₦2.26 vs. price of ₦3.20 (41.6% above fair value)
Industry Position: 29% above the Insurance median (#257 of 418)
No single metric tells the full story. See the NSA:MBAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mutual Benefits Assurance PLC is a financial and wealth protection company in Nigeria. The principal objective of the Company is to render qualitative life related insurance & risks management services. It is a premium provider of life insurance, annuity and investment products and services. It has four reportable operating segments; assurance business, real estate, microfinance bank, and oil and gas exploration and production. The majority of revenue comes from Assurance business which covers the protection of customers' assets (Particularly their properties, both for personal and commercial business) and indemnification of other parties that have suffered damage as a result of customers accident. It has presence in Nigeria, and Liberia.
61GF Score
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