MAS Financial Services (NSE:MASFIN) Cyclically Adjusted PB Ratio: (As of Aug. 31, 2026)

Author: 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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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:MASFIN MAS Financial Services Ltd NSE:MASFIN
81 GF Score
Price ₹294.40
GF Value ₹426.29
Valuation Possible Value Trap
! 7 Warning Signs
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What is MAS Financial Services Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


MAS Financial Services  (NSE:MASFIN) 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.


MAS Financial Services Cyclically Adjusted PB Ratio Related Terms


MAS Financial Services Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for MAS 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.

MAS Financial Services Cyclically Adjusted PB Ratio Chart

MAS 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 3.62 3.06

MAS Financial Services 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 3.77 0.00 3.06 0.00

NSE:MASFIN vs V, MA, AXP: Cyclically Adjusted PB Ratio Comparison

For the Credit Services subindustry, MAS 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.


MAS Financial Services Cyclically Adjusted PB Ratio vs Credit Services Industry

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

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


NSE:MASFIN
81GF Score
MAS Financial Services Ltd NSE:MASFIN
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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MAS 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.

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

For example, MAS Financial Services'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.

MAS Financial Services Quarterly Data

Book Value per Share CPI Adj_Book
201609 13.588 105.961 21.461
201612 0.000 105.196 0.000
201703 10.868 105.196 17.290
201706 0.000 107.109 0.000
201709 0.000 109.021 0.000
201712 0.000 109.404 0.000
201803 47.516 109.786 72.433
201806 0.000 111.317 0.000
201809 49.068 115.142 71.320
201812 0.000 115.142 0.000
201903 53.005 118.202 75.048
201906 0.000 120.880 0.000
201909 60.506 123.175 82.209
201912 0.000 126.235 0.000
202003 60.193 124.705 80.780
202006 0.000 127.000 0.000
202009 66.691 130.118 85.778
202012 0.000 130.889 0.000
202103 73.929 131.771 93.895
202106 0.000 134.084 0.000
202109 75.923 135.847 93.534
202112 0.000 138.161 0.000
202203 82.319 138.822 99.240
202206 0.000 142.347 0.000
202209 83.851 144.661 97.007
202212 0.000 145.763 0.000
202303 92.609 146.865 105.531
202306 0.000 150.280 0.000
202309 100.293 151.492 110.796
202312 0.000 152.924 0.000
202403 108.711 153.035 118.885
202406 0.000 155.789 0.000
202409 133.304 157.882 141.304
202412 0.000 158.323 0.000
202503 143.785 157.552 152.734
202506 0.000 159.755 0.000
202509 154.914 162.289 159.752
202512 0.000 163.281 0.000
202603 163.911 164.272 166.989
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 MAS Financial Services (NSE:MASFIN) Overvalued in 2026?

Based on GuruFocus' analysis, MAS Financial Services stock appears to be undervalued. The current stock price of ₹294.40 is trading 30.9% below its estimated GF Value™ of ₹426.29. GuruFocus considers MAS Financial Services to be Possible Value Trap.

Key valuation signals for NSE:MASFIN:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹426.29 vs. price of ₹294.40 (30.9% below fair value)
  • GF Score™: 81/100 with 7 warning signs

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


MAS Financial Services Business Description

Other Exchanges 540749:India
Address Ashram Road, 6, Narayan Chambers, Ground Floor, Behind Patang Hotel, Nehru Bridge Corner, Ahmedabad, GJ, IND, 380009
MAS Financial Services Ltd operates as a non-banking financial company. It is mainly in the retail business, comprising Micro, small, and medium enterprises, two-wheelers, three-wheelers, and multi-utility vehicles loans to individual borrowers and loans to microfinance institutions and other non-banking financial companies. It focuses on the lower-income and middle-income groups of society, spread across urban, semi-urban, and rural areas, including formal and informal sectors.
81GF Score

Get the complete analysis for NSE:MASFIN

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

₹294.40
Price
₹426.29
GF Value