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Ningbo Menovo Pharmaceutical CoSHSE:603538 -3.10%73 Cyclically Adjusted PB Ratio is 4.53 as of Sep. 09, 2026, which is 80% above its 10-year median of 2.52. GuruFocus rates SHSE:603538 with a GF Score™ of 73/100 and a GF Value™ of ¥17.65 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 634 Drug Manufacturers companies, Ningbo Menovo Pharmaceutical Co ranks worse than 82.81% on this metric.
The historical rank and industry rank for Ningbo Menovo Pharmaceutical Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
SHSE:603538'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.41 Med: 2.52 Max: 10.52
Current: 4.56
During the past years, Ningbo Menovo Pharmaceutical Co's highest Cyclically Adjusted PB Ratio was 10.52. The lowest was 1.41. And the median was 2.52.
SHSE:603538's Cyclically Adjusted PB Ratio is ranked worse than 82.81% of 634
companies
in the Drug Manufacturers industry
Industry Median: 1.71
vs SHSE:603538: 4.56
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.
Ningbo Menovo Pharmaceutical Co's adjusted book value per share data for the three months ended in Jun. 2026 was ¥8.626. 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 ¥6.00 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Ningbo Menovo Pharmaceutical Co (SHSE:603538) 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.
Ningbo Menovo Pharmaceutical Co Cyclically Adjusted PB Ratio Related Terms
Ningbo Menovo Pharmaceutical Co Cyclically Adjusted PB Ratio Historical Data
* 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.
Ningbo Menovo Pharmaceutical Co Cyclically Adjusted PB Ratio Chart
SHSE:603538 vs ZTS: Cyclically Adjusted PB Ratio Comparison
For the Drug Manufacturers - Specialty & Generic subindustry, Ningbo Menovo Pharmaceutical Co'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.
Ningbo Menovo Pharmaceutical Co Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry
For the Drug Manufacturers industry and Healthcare sector, Ningbo Menovo Pharmaceutical Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Ningbo Menovo Pharmaceutical Co's Cyclically Adjusted PB Ratio falls into.
Ningbo Menovo Pharmaceutical Co 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.
* 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.
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 4.53 mean?
Ningbo Menovo Pharmaceutical Co (SHSE:603538) has a Cyclically Adjusted PB Ratio of 4.53 as of Sep. 09, 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 Ningbo Menovo Pharmaceutical Co and its competitors. This is 80% above median its historical median of 2.52. Over the past decade, Ningbo Menovo Pharmaceutical Co's Cyclically Adjusted PB Ratio has ranged from 1.41 to 10.52. According to the industry distribution chart, Ningbo Menovo Pharmaceutical Co ranks #525 out of 634 companies in the Drug Manufacturers industry, placing it in the top 82.8%.
Is Ningbo Menovo Pharmaceutical Co's Cyclically Adjusted PB Ratio too high?
Ningbo Menovo Pharmaceutical Co's current Cyclically Adjusted PB Ratio of 4.53 is 80% above median its 10-year median of 2.52. Over the past 10 years, this metric has ranged from a low of 1.41 to a high of 10.52. The Drug Manufacturers industry median Cyclically Adjusted PB Ratio is 1.71. Ningbo Menovo Pharmaceutical Co's value of 4.53 is 164.9% above this industry median. Based on the distribution chart, Ningbo Menovo Pharmaceutical Co ranks #525 out of 634 companies in the Drug Manufacturers industry, which is in the bottom quartile relative to peers. Overall, Ningbo Menovo Pharmaceutical Co has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ningbo Menovo Pharmaceutical Co's Cyclically Adjusted PB Ratio compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Ningbo Menovo Pharmaceutical Co ranks #525 out of 634 companies for Cyclically Adjusted PB Ratio. This places Ningbo Menovo Pharmaceutical Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.71. Ningbo Menovo Pharmaceutical Co's value of 4.53 is 164.9% above this benchmark. Historically, Ningbo Menovo Pharmaceutical Co's own Cyclically Adjusted PB Ratio has ranged from 1.41 to 10.52 over the past decade. While the company's 10-year median is 2.52 vs. the industry median of 1.71, Ningbo Menovo Pharmaceutical Co has consistently been above 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 Drug Manufacturers company?
The median Cyclically Adjusted PB Ratio among Drug Manufacturers companies is 1.71, based on 634 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. Ningbo Menovo Pharmaceutical Co's current Cyclically Adjusted PB Ratio of 4.53 is 164.9% above 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 Ningbo Menovo Pharmaceutical Co and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted PB Ratio is 1.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ningbo Menovo Pharmaceutical Co's current Cyclically Adjusted PB Ratio is 4.53, which is 80% above median its own 10-year median of 2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ningbo Menovo Pharmaceutical Co stock overvalued right now?
Based on GuruFocus' analysis, Ningbo Menovo Pharmaceutical Co (SHSE:603538) is currently considered Significantly Overvalued. The stock's GF Value™ is ¥17.65, compared to a current price of ¥27.20 — trading 54.1% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 4.53, which is 80% above median its 10-year median of 2.52 and 164.9% above the Drug Manufacturers industry median of 1.71. Ningbo Menovo Pharmaceutical Co's overall GF Score™ is 73/100 with 4 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 Ningbo Menovo Pharmaceutical Co (SHSE:603538), the current Cyclically Adjusted PB Ratio is 4.53 as of Sep. 09, 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 Ningbo Menovo Pharmaceutical Co (SHSE:603538) Overvalued in 2026?
Based on GuruFocus' analysis, Ningbo Menovo Pharmaceutical Co stock appears to be overvalued.
The current stock price of ¥27.20 is trading 54.1% above its estimated GF Value™ of ¥17.65.
GuruFocus considers Ningbo Menovo Pharmaceutical Co to be Significantly Overvalued.
Key valuation signals for SHSE:603538:
Cyclically Adjusted PB Ratio: 4.53 (80% above median its 10-year median of 2.52)
GF Value™: ¥17.65 vs. price of ¥27.20 (54.1% above fair value)
Industry Position: 164.9% above the Drug Manufacturers median (#525 of 634)
No single metric tells the full story. See the SHSE:603538 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ningbo Menovo Pharmaceutical Co Ltd is a China-based company is engaged in the research and development, pilot, production and sales of pharmaceutical intermediates, APIs and finished drugs. Its products line includes cardiovascular, central nervous, respiratory, anti-tumor, anti-infective, digestive system, geriatric diseases and anti-viral systems.
73GF Score
Get the complete analysis for SHSE:603538
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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