Mastek (NSE:MASTEK) Cyclically Adjusted PB Ratio: (As of Aug. 02, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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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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:MASTEK Mastek Ltd NSE:MASTEK
83 GF Score
Price ₹1,874.80
GF Value ₹2,897.85
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Mastek Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Mastek  (NSE:MASTEK) 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.


Mastek Cyclically Adjusted PB Ratio Related Terms


Mastek Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Mastek'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.

Mastek Cyclically Adjusted PB Ratio Chart

Mastek 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 10.15 4.32 6.43 4.95 2.57

Mastek 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 4.51 0.00 2.57 0.00

NSE:MASTEK vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Mastek'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.


Mastek Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Mastek's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:MASTEK
83GF Score
Mastek Ltd NSE:MASTEK
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Mastek 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.

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

For example, Mastek'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)
=0/166.1454*166.1454
=0.000

Current CPI (Jun. 2026) = 166.1454.

Mastek Quarterly Data

Book Value per Share CPI Adj_Book
201609 140.923 105.961 220.965
201612 0.000 105.196 0.000
201703 200.642 105.196 316.892
201706 0.000 107.109 0.000
201709 198.473 109.021 302.467
201712 0.000 109.404 0.000
201803 231.842 109.786 350.858
201806 0.000 111.317 0.000
201809 293.521 115.142 423.540
201812 0.000 115.142 0.000
201903 298.836 118.202 420.045
201906 0.000 120.880 0.000
201909 340.630 123.175 459.461
201912 0.000 126.235 0.000
202003 325.439 124.705 433.584
202006 0.000 127.000 0.000
202009 395.497 130.118 505.004
202012 0.000 130.889 0.000
202103 340.245 131.771 429.005
202106 0.000 134.084 0.000
202109 287.118 135.847 351.155
202112 0.000 138.161 0.000
202203 356.906 138.822 427.154
202206 0.000 142.347 0.000
202209 402.746 144.661 462.560
202212 0.000 145.763 0.000
202303 551.486 146.865 623.887
202306 0.000 150.280 0.000
202309 584.988 151.492 641.572
202312 0.000 152.924 0.000
202403 676.764 153.035 734.744
202406 0.000 155.789 0.000
202409 740.400 157.882 779.151
202412 0.000 158.323 0.000
202503 795.844 157.552 839.254
202506 0.000 159.755 0.000
202509 864.171 162.289 884.705
202512 0.000 163.281 0.000
202603 965.206 164.272 976.211
202606 0.000 166.145 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 Mastek (NSE:MASTEK) Overvalued in 2026?

Based on GuruFocus' analysis, Mastek stock appears to be undervalued. The current stock price of ₹1,874.80 is trading 35.3% below its estimated GF Value™ of ₹2,897.85. GuruFocus considers Mastek to be Significantly Undervalued.

Key valuation signals for NSE:MASTEK:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹2,897.85 vs. price of ₹1,874.80 (35.3% below fair value)
  • GF Score™: 83/100 with 4 warning signs

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


Mastek Business Description

Other Exchanges 523704:India
Address No 106, SDF IV, Seepz, Andheri (East), Mumbai, MH, IND, 400 096
Mastek Ltd is a provider of vertically-focused enterprise technology solutions. The company's offering portfolio consists of information technology consulting, application maintenance, application development, application management outsourcing, testing, data warehousing, business intelligence, and application security. It also focuses on agile consulting, legacy modernisation, Oracle Cloud, Oracle ERP Cloud, product-as-a-service solutions and machine learning, and digital e-commerce. Geographically the company exports its services to the United Kingdom, North America, the Middle East, and Other regions. The United Kingdom region generates maximum revenue for the company.
83GF Score

Get the complete analysis for NSE:MASTEK

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

₹1,874.80
Price
₹2,897.85
GF Value