PIFMY (PT Indofood Sukses Makmur Tbk) Cyclically Adjusted PB Ratio: 1.12 (As of Jul. 14, 2026) — 34% Below Median

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.

PIFMY PT Indofood Sukses Makmur Tbk PIFMY
89 GF Score
Price $19.28
GF Value $21.61
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is PT Indofood Sukses Makmur Tbk Cyclically Adjusted PB Ratio?

PT Indofood Sukses Makmur Tbk PIFMY +1.49% 89 Cyclically Adjusted PB Ratio is 1.12 as of Jul. 14, 2026, which is 34% below its 10-year median of 1.69. GuruFocus rates PIFMY with a GF Score™ of 89/100 and a GF Value™ of $21.61 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,445 Consumer Packaged Goods companies, PT Indofood Sukses Makmur Tbk ranks better than 54.39% on this metric.

As of today (2026-07-14), PT Indofood Sukses Makmur Tbk's current share price is $19.284. PT Indofood Sukses Makmur Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $17.18. PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio for today is 1.12.

The historical rank and industry rank for PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio or its related term are showing as below:

PIFMY' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.01   Med: 1.69   Max: 3.87
Current: 1.13

During the past years, PT Indofood Sukses Makmur Tbk's highest Cyclically Adjusted PB Ratio was 3.87. The lowest was 1.01. And the median was 1.69.

PIFMY's Cyclically Adjusted PB Ratio is ranked better than
54.39% of 1445 companies
in the Consumer Packaged Goods industry
Industry Median: 1.25 vs PIFMY: 1.13

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

PT Indofood Sukses Makmur Tbk's adjusted book value per share data for the three months ended in Mar. 2026 was $26.006. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $17.18 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Indofood Sukses Makmur Tbk  (OTCPK:PIFMY) 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.


PT Indofood Sukses Makmur Tbk Cyclically Adjusted PB Ratio Related Terms


PT Indofood Sukses Makmur Tbk Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PT Indofood Sukses Makmur Tbk'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.

PT Indofood Sukses Makmur Tbk Cyclically Adjusted PB Ratio Chart

PT Indofood Sukses Makmur Tbk Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.59 1.51 1.33 1.46 1.16

PT Indofood Sukses Makmur Tbk Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.32 1.47 1.28 1.16 1.06

PIFMY vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, PT Indofood Sukses Makmur Tbk'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.


PT Indofood Sukses Makmur Tbk Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio falls into.


PIFMY
89GF Score
PT Indofood Sukses Makmur Tbk PIFMY
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Indofood Sukses Makmur Tbk 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.

PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=19.284/17.18
=1.12

* 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.

PT Indofood Sukses Makmur Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, PT Indofood Sukses Makmur Tbk's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=26.006/136.5387*136.5387
=26.006

Current CPI (Mar. 2026) = 136.5387.

PT Indofood Sukses Makmur Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201606 11.857 103.212 15.686
201609 12.459 104.142 16.335
201612 12.354 105.222 16.031
201703 12.948 106.476 16.604
201706 12.721 107.722 16.124
201709 13.185 108.020 16.666
201712 13.150 109.017 16.470
201803 13.406 110.097 16.626
201806 12.727 111.085 15.643
201809 12.404 111.135 15.239
201812 13.205 112.430 16.037
201903 14.103 112.829 17.067
201906 13.961 114.730 16.615
201909 14.647 114.905 17.405
201912 15.351 115.486 18.149
202003 14.855 116.252 17.447
202006 16.277 116.630 19.056
202009 15.215 116.397 17.848
202012 17.025 117.318 19.814
202103 17.591 117.840 20.382
202106 18.205 118.184 21.032
202109 18.100 118.262 20.897
202112 19.289 119.516 22.036
202203 20.571 120.948 23.223
202206 20.055 123.322 22.204
202209 19.671 125.298 21.436
202212 19.636 126.098 21.262
202303 21.203 126.953 22.804
202306 21.589 127.663 23.090
202309 21.646 128.151 23.063
202312 21.725 129.395 22.924
202403 22.430 130.607 23.449
202406 21.266 130.792 22.200
202409 24.145 130.361 25.289
202412 23.122 131.432 24.020
202503 23.386 131.948 24.200
202506 23.713 133.241 24.300
202509 24.237 133.819 24.730
202512 24.932 135.271 25.166
202603 26.006 136.539 26.006

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.

What does a Cyclically Adjusted PB Ratio of 1.12 mean?
PT Indofood Sukses Makmur Tbk (PIFMY) has a Cyclically Adjusted PB Ratio of 1.12 as of Jul. 14, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on PT Indofood Sukses Makmur Tbk and its competitors. This is 34% below median its historical median of 1.69. Over the past decade, PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio has ranged from 1.01 to 3.87. According to the industry distribution chart, PT Indofood Sukses Makmur Tbk ranks #659 out of 1445 companies in the Consumer Packaged Goods industry, placing it in the top 45.6%.
Is PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio too high?
PT Indofood Sukses Makmur Tbk's current Cyclically Adjusted PB Ratio of 1.12 is 34% below median its 10-year median of 1.69. Over the past 10 years, this metric has ranged from a low of 1.01 to a high of 3.87. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.25. PT Indofood Sukses Makmur Tbk's value of 1.12 is 10.4% below this industry median. Based on the distribution chart, PT Indofood Sukses Makmur Tbk ranks #659 out of 1445 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, PT Indofood Sukses Makmur Tbk has a GF Score™ of 89/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Indofood Sukses Makmur Tbk's Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, PT Indofood Sukses Makmur Tbk ranks #659 out of 1445 companies for Cyclically Adjusted PB Ratio. This puts PT Indofood Sukses Makmur Tbk in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. PT Indofood Sukses Makmur Tbk's value of 1.12 is 10.4% below this benchmark. Historically, PT Indofood Sukses Makmur Tbk's own Cyclically Adjusted PB Ratio has ranged from 1.01 to 3.87 over the past decade. While the company's 10-year median is 1.69 vs. the industry median of 1.25, PT Indofood Sukses Makmur Tbk has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.25, based on 1,445 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PT Indofood Sukses Makmur Tbk's current Cyclically Adjusted PB Ratio of 1.12 is 10.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on PT Indofood Sukses Makmur Tbk and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Indofood Sukses Makmur Tbk's current Cyclically Adjusted PB Ratio is 1.12, which is 34% below median its own 10-year median of 1.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Indofood Sukses Makmur Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Indofood Sukses Makmur Tbk (PIFMY) is currently considered Modestly Undervalued. The stock's GF Value™ is $21.61, compared to a current price of $19.28 — trading 10.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.12, which is 34% below median its 10-year median of 1.69 and 10.4% below the Consumer Packaged Goods industry median of 1.25. PT Indofood Sukses Makmur Tbk's overall GF Score™ is 89/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For PT Indofood Sukses Makmur Tbk (PIFMY), the current Cyclically Adjusted PB Ratio is 1.12 as of Jul. 14, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is PT Indofood Sukses Makmur Tbk (PIFMY) Overvalued in 2026?

Based on GuruFocus' analysis, PT Indofood Sukses Makmur Tbk stock appears to be undervalued. The current stock price of $19.28 is trading 10.8% below its estimated GF Value™ of $21.61. GuruFocus considers PT Indofood Sukses Makmur Tbk to be Modestly Undervalued.

Key valuation signals for PIFMY:

  • Cyclically Adjusted PB Ratio: 1.12 (34% below median its 10-year median of 1.69)
  • GF Value™: $21.61 vs. price of $19.28 (10.8% below fair value)
  • GF Score™: 89/100 with 2 warning signs
  • Industry Position: 10.4% below the Consumer Packaged Goods median (#659 of 1445)

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


PT Indofood Sukses Makmur Tbk Business Description

Address Jalan Jend. Sudirman Kav 76-78, Sudirman Plaza, Indofood Tower, 27th Floor, Jakarta, IDN, 12910
PT Indofood Sukses Makmur Tbk is a packaged food company with a diversified portfolio in both raw materials and processed food. It divides operations into the Consumer Branded Products Business Group, Bogasari Business Group, Agribusiness Group, and Distribution Business Group. The Consumer Branded Products Business Group, which generates maximum revenue, produces a varied range of consumer-branded products such as noodles, dairy, snack foods, special foods, food seasonings, and beverages. The Bogasari unit mainly produces wheat flour as well as pasta; and the Agribusiness unit is involved in seed breeding, oil palm cultivation and milling, and the production and marketing of branded cooking oils, margarine, and shortening. Geographically, the Group generates key revenue from Indonesia.
89GF Score

Get the complete analysis for PIFMY

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

$19.28
Price
$21.61
GF Value