Aryaman Financial Services (NSE:ARYAMAN) Cyclically Adjusted PB Ratio: (As of Aug. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

NSE:ARYAMAN Aryaman Financial Services Ltd NSE:ARYAMAN
59 GF Score
Price ₹587.00
GF Value ₹491.62
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Aryaman Financial Services Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Aryaman Financial Services  (NSE:ARYAMAN) 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.


Aryaman Financial Services Cyclically Adjusted PB Ratio Related Terms


Aryaman Financial Services Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Aryaman Financial Services'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.

Aryaman Financial Services Cyclically Adjusted PB Ratio Chart

Aryaman Financial Services Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 11.83

Aryaman Financial Services Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 0.00 16.78 0.00 11.83

NSE:ARYAMAN vs : Cyclically Adjusted PB Ratio Comparison

For the Capital Markets subindustry, Aryaman Financial Services'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.


Aryaman Financial Services Cyclically Adjusted PB Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Aryaman Financial Services's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:ARYAMAN
59GF Score
Aryaman Financial Services Ltd NSE:ARYAMAN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Aryaman Financial Services 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.

Aryaman Financial Services's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Aryaman Financial Services's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=164.425/330.2130*330.2130
=164.425

Current CPI (Mar. 2026) = 330.2130.

Aryaman Financial Services Quarterly Data

Book Value per Share CPI Adj_Book
201103 11.906 223.467 17.593
201203 12.278 229.392 17.674
201303 12.778 232.773 18.127
201403 13.001 236.293 18.169
201503 14.221 236.119 19.888
201603 15.490 238.132 21.480
201703 22.267 243.801 30.159
201803 24.971 249.554 33.042
201806 0.000 251.989 0.000
201809 0.000 252.439 0.000
201812 0.000 251.233 0.000
201903 26.220 254.202 34.060
201906 0.000 256.143 0.000
201909 25.527 256.759 32.830
201912 0.000 256.974 0.000
202003 25.682 258.115 32.856
202006 0.000 257.797 0.000
202009 31.098 260.280 39.454
202012 0.000 260.474 0.000
202103 30.265 264.877 37.730
202106 0.000 271.696 0.000
202109 37.741 274.310 45.432
202112 0.000 278.802 0.000
202203 36.112 287.504 41.476
202206 0.000 296.311 0.000
202209 44.561 296.808 49.576
202212 0.000 296.797 0.000
202303 48.024 301.836 52.539
202306 0.000 305.109 0.000
202309 58.561 307.789 62.827
202312 0.000 306.746 0.000
202403 62.394 312.332 65.966
202406 0.000 314.175 0.000
202409 95.991 315.301 100.531
202412 0.000 315.605 0.000
202503 138.555 319.799 143.067
202506 0.000 322.561 0.000
202509 156.537 324.800 159.146
202512 0.000 324.054 0.000
202603 164.425 330.213 164.425

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 Aryaman Financial Services (NSE:ARYAMAN) Overvalued in 2026?

Based on GuruFocus' analysis, Aryaman Financial Services stock appears to be overvalued. The current stock price of ₹587.00 is trading 19.4% above its estimated GF Value™ of ₹491.62. GuruFocus considers Aryaman Financial Services to be Modestly Overvalued.

Key valuation signals for NSE:ARYAMAN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹491.62 vs. price of ₹587.00 (19.4% above fair value)
  • GF Score™: 59/100 with 2 warning signs

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


Aryaman Financial Services Business Description

Comparable Companies
Other Exchanges 530245:India
Address Alkesh Dinesh Modi Marg, 60, Khatau Building, Ground Floor, Opp. P. J. Tower (BSE Building), Fort, Mumbai, MH, IND, 400001
Aryaman Financial Services Ltd is engaged in the merchant banking business. The company is engaged in the business of management and syndication of small and medium-sized initial public offerings, rights issues, composite issues, venture capital funding, and others. The company generates its revenue from Fees & Commission income, Investment and Dividend income, and Sale of stock-in-trade.
59GF Score

Get the complete analysis for NSE:ARYAMAN

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

₹587.00
Price
₹491.62
GF Value