Motilal Oswal Financial Services (NSE:MOTILALOFS) Cyclically Adjusted PB Ratio: (As of Jul. 30, 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:MOTILALOFS Motilal Oswal Financial Services Ltd NSE:MOTILALOFS
93 GF Score
Price ₹855.25
GF Value ₹1,057.21
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Motilal Oswal Financial Services Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Motilal Oswal Financial Services  (NSE:MOTILALOFS) 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.


Motilal Oswal Financial Services Cyclically Adjusted PB Ratio Related Terms


Motilal Oswal Financial Services Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Motilal Oswal 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.

Motilal Oswal Financial Services Cyclically Adjusted PB Ratio Chart

Motilal Oswal 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 4.14 2.43 5.48 6.56 5.44

Motilal Oswal 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 8.46 0.00 5.44 0.00

NSE:MOTILALOFS vs MS, GS, SCHW: Cyclically Adjusted PB Ratio Comparison

For the Capital Markets subindustry, Motilal Oswal 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.


Motilal Oswal Financial Services Cyclically Adjusted PB Ratio vs Capital Markets Industry

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

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


NSE:MOTILALOFS
93GF Score
Motilal Oswal Financial Services Ltd NSE:MOTILALOFS
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Motilal Oswal 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.

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

For example, Motilal Oswal 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)
=0/166.1454*166.1454
=0.000

Current CPI (Jun. 2026) = 166.1454.

Motilal Oswal Financial Services Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.000 105.961 0.000
201612 0.000 105.196 0.000
201703 38.455 105.196 60.735
201706 0.000 107.109 0.000
201709 34.568 109.021 52.681
201712 0.000 109.404 0.000
201803 49.728 109.786 75.256
201806 0.000 111.317 0.000
201809 51.643 115.142 74.519
201812 0.000 115.142 0.000
201903 52.400 118.202 73.654
201906 0.000 120.880 0.000
201909 56.179 123.175 75.777
201912 0.000 126.235 0.000
202003 52.110 124.705 69.426
202006 0.000 127.000 0.000
202009 59.224 130.118 75.622
202012 0.000 130.889 0.000
202103 76.071 131.771 95.916
202106 0.000 134.084 0.000
202109 87.893 135.847 107.496
202112 0.000 138.161 0.000
202203 95.167 138.822 113.898
202206 0.000 142.347 0.000
202209 101.123 144.661 116.141
202212 0.000 145.763 0.000
202303 105.650 146.865 119.520
202306 0.000 150.280 0.000
202309 125.888 151.492 138.065
202312 0.000 152.924 0.000
202403 146.499 153.035 159.050
202406 0.000 155.789 0.000
202409 184.934 157.882 194.613
202412 0.000 158.323 0.000
202503 184.867 157.552 194.951
202506 0.000 159.755 0.000
202509 214.341 162.289 219.434
202512 0.000 163.281 0.000
202603 214.138 164.272 216.580
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 Motilal Oswal Financial Services (NSE:MOTILALOFS) Overvalued in 2026?

Based on GuruFocus' analysis, Motilal Oswal Financial Services stock appears to be undervalued. The current stock price of ₹855.25 is trading 19.1% below its estimated GF Value™ of ₹1,057.21. GuruFocus considers Motilal Oswal Financial Services to be Modestly Undervalued.

Key valuation signals for NSE:MOTILALOFS:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹1,057.21 vs. price of ₹855.25 (19.1% below fair value)
  • GF Score™: 93/100 with 5 warning signs

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


Motilal Oswal Financial Services Business Description

Other Exchanges 532892:India
Address Rahimtullah Sayani Road, Motilal Oswal Tower, Opposite Parel ST Depot, Prabhadevi, Mumbai, MH, IND, 400025
Motilal Oswal Financial Services Ltd provides a range of financial services, including private wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking, and home finance. The group majorly generates revenue through its broking operations. Its broking and distribution segment offers research-based advisory services to help retail customers across India make investment decisions. The services cover various asset classes and investment types, such as mutual funds and insurance products.
93GF Score

Get the complete analysis for NSE:MOTILALOFS

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

₹855.25
Price
₹1,057.21
GF Value