BF Investment (NSE:BFINVEST) Cyclically Adjusted PB Ratio: (As of Aug. 31, 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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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:BFINVEST BF Investment Ltd NSE:BFINVEST
79 GF Score
Price ₹441.35
GF Value ₹1,437.88
Valuation Significantly Undervalued
! 5 Warning Signs
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What is BF Investment Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


BF Investment  (NSE:BFINVEST) 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.


BF Investment Cyclically Adjusted PB Ratio Related Terms


BF Investment Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for BF Investment'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.

BF Investment Cyclically Adjusted PB Ratio Chart

BF Investment 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 0.66 0.71 0.53 0.28

BF Investment 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 0.00 0.44 0.00 0.28 0.00

NSE:BFINVEST vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, BF Investment'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.


BF Investment Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, BF Investment's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:BFINVEST
79GF Score
BF Investment Ltd NSE:BFINVEST
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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BF Investment 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.

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

For example, BF Investment'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)
=0/167.3573*167.3573
=0.000

Current CPI (Jun. 2026) = 167.3573.

BF Investment Quarterly Data

Book Value per Share CPI Adj_Book
201412 0.000 96.780 0.000
201503 181.377 97.163 312.411
201506 0.000 99.841 0.000
201509 183.687 101.753 302.117
201512 0.000 102.901 0.000
201603 265.243 102.518 432.999
201703 469.457 105.196 746.864
201803 647.652 109.786 987.274
201809 0.000 115.142 0.000
201812 0.000 115.142 0.000
201903 544.844 118.202 771.421
201906 0.000 120.880 0.000
201909 532.187 123.175 723.080
201912 0.000 126.235 0.000
202003 454.226 124.705 609.582
202006 0.000 127.000 0.000
202009 560.727 130.118 721.206
202012 0.000 130.889 0.000
202103 875.445 131.771 1,111.873
202106 0.000 134.084 0.000
202109 1,000.730 135.847 1,232.854
202112 0.000 138.161 0.000
202203 1,071.925 138.822 1,292.264
202206 0.000 142.347 0.000
202209 1,090.906 144.661 1,262.061
202212 0.000 145.763 0.000
202303 1,245.087 146.865 1,418.820
202306 0.000 150.280 0.000
202309 1,411.304 151.492 1,559.106
202312 0.000 152.924 0.000
202403 1,646.301 153.035 1,800.382
202406 0.000 155.789 0.000
202409 2,118.805 157.882 2,245.962
202412 0.000 158.323 0.000
202503 1,831.764 157.552 1,945.768
202506 0.000 159.755 0.000
202509 1,880.274 162.289 1,938.993
202512 0.000 163.281 0.000
202603 2,266.817 164.272 2,309.386
202606 0.000 167.357 0.000

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 BF Investment (NSE:BFINVEST) Overvalued in 2026?

Based on GuruFocus' analysis, BF Investment stock appears to be undervalued. The current stock price of ₹441.35 is trading 69.3% below its estimated GF Value™ of ₹1,437.88. GuruFocus considers BF Investment to be Significantly Undervalued.

Key valuation signals for NSE:BFINVEST:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹1,437.88 vs. price of ₹441.35 (69.3% below fair value)
  • GF Score™: 79/100 with 5 warning signs

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


BF Investment Business Description

Other Exchanges 533303:India
Address Pune Cantonment, Mundhwa, Pune, MH, IND, 411 036
BF Investment Ltd is engaged in the business of making investments in the Kalyani Group Companies. The Company is a Non-Deposit taking Core Investment Company. It is focusing on earning income through dividends, interest, and gains on an investment held.
79GF Score

Get the complete analysis for NSE:BFINVEST

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

₹441.35
Price
₹1,437.88
GF Value