Narayana Hrudayalaya (NSE:NH) Cyclically Adjusted PB Ratio: (As of Aug. 12, 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.
Reviewed by: Charlie Tian Charlie Tian
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:NH Narayana Hrudayalaya Ltd NSE:NH
93 GF Score
Price ₹1,848.80
GF Value ₹2,275.94
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Narayana Hrudayalaya Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Narayana Hrudayalaya  (NSE:NH) 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.


Narayana Hrudayalaya Cyclically Adjusted PB Ratio Related Terms


Narayana Hrudayalaya Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Narayana Hrudayalaya'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.

Narayana Hrudayalaya Cyclically Adjusted PB Ratio Chart

Narayana Hrudayalaya 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 17.24 18.95 14.88

Narayana Hrudayalaya 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 17.56 0.00 14.88 0.00

NSE:NH vs HCA, THC, DVA: Cyclically Adjusted PB Ratio Comparison

For the Medical Care Facilities subindustry, Narayana Hrudayalaya'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.


Narayana Hrudayalaya Cyclically Adjusted PB Ratio vs Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Narayana Hrudayalaya's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NSE:NH
93GF Score
Narayana Hrudayalaya Ltd NSE:NH
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Narayana Hrudayalaya 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.

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

For example, Narayana Hrudayalaya'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.

Narayana Hrudayalaya Quarterly Data

Book Value per Share CPI Adj_Book
201609 45.225 105.961 70.912
201612 0.000 105.196 0.000
201703 47.127 105.196 74.432
201706 0.000 107.109 0.000
201709 48.643 109.021 74.130
201712 0.000 109.404 0.000
201803 50.682 109.786 76.700
201806 0.000 111.317 0.000
201809 51.632 115.142 74.503
201812 0.000 115.142 0.000
201903 52.903 118.202 74.361
201906 0.000 120.880 0.000
201909 54.353 123.175 73.314
201912 0.000 126.235 0.000
202003 55.586 124.705 74.058
202006 0.000 127.000 0.000
202009 49.401 130.118 63.079
202012 0.000 130.889 0.000
202103 54.819 131.771 69.120
202106 0.000 134.084 0.000
202109 63.623 135.847 77.813
202112 0.000 138.161 0.000
202203 72.843 138.822 87.180
202206 0.000 142.347 0.000
202209 88.077 144.661 101.158
202212 0.000 145.763 0.000
202303 104.295 146.865 117.987
202306 0.000 150.280 0.000
202309 122.417 151.492 134.258
202312 0.000 152.924 0.000
202403 141.983 153.035 154.147
202406 0.000 155.789 0.000
202409 157.836 157.882 166.097
202412 0.000 158.323 0.000
202503 178.550 157.552 188.289
202506 0.000 159.755 0.000
202509 199.893 162.289 204.643
202512 0.000 163.281 0.000
202603 223.400 164.272 225.947
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 Narayana Hrudayalaya (NSE:NH) Overvalued in 2026?

Based on GuruFocus' analysis, Narayana Hrudayalaya stock appears to be undervalued. The current stock price of ₹1,848.80 is trading 18.8% below its estimated GF Value™ of ₹2,275.94. GuruFocus considers Narayana Hrudayalaya to be Modestly Undervalued.

Key valuation signals for NSE:NH:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹2,275.94 vs. price of ₹1,848.80 (18.8% below fair value)
  • GF Score™: 93/100 with 1 warning sign

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


Narayana Hrudayalaya Business Description

Other Exchanges 539551:India
Address Hosur Road, Anekal Taluk, Number 261/A, 2nd Floor, Bommasandra Industrial Area, Bengaluru, KA, IND, 560099
Narayana Hrudayalaya Ltd is an India-based medical and healthcare service provider. The company is engaged in the business of running and operating hospitals, clinics, health centers, nursing homes, and other related activities. The Company's sole operating segment is Medical and Healthcare Related Services. It also provides surgery services such as Cardiac Surgery, nephrology, urology, neurology, neurosurgery, endocrinology, orthopaedics, internal medicine, obstetrics, gynaecology, paediatrics, neonatology, gastroenterology, and oncology. It has business operations in India and the Rest of the world, of which the maximum revenue is generated from the business operations in India.
93GF Score

Get the complete analysis for NSE:NH

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

₹1,848.80
Price
₹2,275.94
GF Value