PIKQF (PT Indah Kiat Pulp & Paper Tbk) Cyclically Adjusted PB Ratio: (As of Aug. 08, 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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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.

PIKQF PT Indah Kiat Pulp & Paper Tbk PIKQF
96 GF Score
Price $0.53
GF Value $0.59
! 4 Warning Signs
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What is PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Indah Kiat Pulp & Paper Tbk  (OTCPK:PIKQF) 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 Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Related Terms


PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PT Indah Kiat Pulp & Paper 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 Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Chart

PT Indah Kiat Pulp & Paper 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 0.92 0.88 0.74 0.54 0.61

PT Indah Kiat Pulp & Paper Tbk 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 0.43 0.54 0.61 0.70 0.47

PT Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio Competitor Comparison

For the Paper & Paper Products subindustry, PT Indah Kiat Pulp & Paper 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 Indah Kiat Pulp & Paper Tbk Cyclically Adjusted PB Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, PT Indah Kiat Pulp & Paper Tbk's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where PT Indah Kiat Pulp & Paper Tbk's Cyclically Adjusted PB Ratio falls into.


PIKQF
96GF Score
PT Indah Kiat Pulp & Paper Tbk PIKQF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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PT Indah Kiat Pulp & Paper 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 Indah Kiat Pulp & Paper Tbk's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, PT Indah Kiat Pulp & Paper Tbk'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)
=1.315/137.6954*137.6954
=1.315

Current CPI (Jun. 2026) = 137.6954.

PT Indah Kiat Pulp & Paper Tbk Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.497 104.142 0.657
201612 0.515 105.222 0.674
201703 0.531 106.476 0.687
201706 0.545 107.722 0.697
201709 0.566 108.020 0.721
201712 0.588 109.017 0.743
201803 0.616 110.097 0.770
201806 0.643 111.085 0.797
201809 0.675 111.135 0.836
201812 0.689 112.430 0.844
201903 0.703 112.829 0.858
201906 0.710 114.730 0.852
201909 0.727 114.905 0.871
201912 0.732 115.486 0.873
202003 0.764 116.252 0.905
202006 0.768 116.630 0.907
202009 0.780 116.397 0.923
202012 0.778 117.318 0.913
202103 0.802 117.840 0.937
202106 0.828 118.184 0.965
202109 0.844 118.262 0.983
202112 0.871 119.516 1.003
202203 0.902 120.948 1.027
202206 0.939 123.322 1.048
202209 0.985 125.298 1.082
202212 1.024 126.098 1.118
202303 1.049 126.953 1.138
202306 1.070 127.663 1.154
202309 1.080 128.151 1.160
202312 1.097 129.395 1.167
202403 1.121 130.607 1.182
202406 1.145 130.792 1.205
202409 1.135 130.361 1.199
202412 1.171 131.432 1.227
202503 1.197 131.948 1.249
202506 1.198 133.241 1.238
202509 1.228 133.819 1.264
202512 1.251 135.271 1.273
202603 1.279 136.539 1.290
202606 1.315 137.695 1.315

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 PT Indah Kiat Pulp & Paper Tbk (PIKQF) Overvalued in 2026?

Based on GuruFocus' analysis, PT Indah Kiat Pulp & Paper Tbk stock appears to be undervalued. The current stock price of $0.53 is trading 10.1% below its estimated GF Value™ of $0.59.

Key valuation signals for PIKQF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $0.59 vs. price of $0.53 (10.1% below fair value)
  • GF Score™: 96/100 with 4 warning signs

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


PT Indah Kiat Pulp & Paper Tbk Business Description

Other Exchanges INKP:IndonesiaIKP:Germany
Address Jalan M.H. Thamrin No. 51, Tower 2, 9th Floor, Building Sinar Mas Land Plaza, Jakarta, IDN, 10350
PT Indah Kiat Pulp & Paper Tbk manufactures paper, pulp, and packaging paper. The company's operating segments are: cultural paper and pulp, which derives maximum revenue; and industrial paper and tissue products. Its cultural paper and pulp products segment consists of cultural paper and other related cultural paper products and pulp. The industrial paper and tissue products segment consists of linerboard, corrugating medium, corrugated shipping containers, and boxboard. Geographically, the company generates maximum revenue from Indonesia, and the rest from Asia, Europe, America, the Middle East, Africa, and Australia.
96GF Score

Get the complete analysis for PIKQF

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

$0.53
Price
$0.59
GF Value