DHG Pharmaceutical JSC (STC:DHG) Cyclically Adjusted PB Ratio: 2.82 (As of Jul. 20, 2026) — 24% 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.

STC:DHG DHG Pharmaceutical JSC STC:DHG
78 GF Score
Price ₫92,000.00
GF Value ₫113,941.05
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is DHG Pharmaceutical JSC Cyclically Adjusted PB Ratio?

DHG Pharmaceutical JSC STC:DHG -0.22% 78 Cyclically Adjusted PB Ratio is 2.82 as of Jul. 20, 2026, which is 24% below its 10-year median of 3.72. GuruFocus rates STC:DHG with a GF Score™ of 78/100 and a GF Value™ of ₫113,941.05 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 757 Drug Manufacturers companies, DHG Pharmaceutical JSC ranks worse than 65.13% on this metric.

As of today (2026-07-20), DHG Pharmaceutical JSC's current share price is ₫92000.00. DHG Pharmaceutical JSC's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₫32,584.20. DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio for today is 2.82.

The historical rank and industry rank for DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio or its related term are showing as below:

STC:DHG' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.82   Med: 3.72   Max: 5.5
Current: 2.82

During the past years, DHG Pharmaceutical JSC's highest Cyclically Adjusted PB Ratio was 5.50. The lowest was 2.82. And the median was 3.72.

STC:DHG's Cyclically Adjusted PB Ratio is ranked worse than
65.13% of 757 companies
in the Drug Manufacturers industry
Industry Median: 1.86 vs STC:DHG: 2.82

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.

DHG Pharmaceutical JSC's adjusted book value per share data for the three months ended in Mar. 2026 was ₫33,981.479. 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 ₫32,584.20 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


DHG Pharmaceutical JSC  (STC:DHG) 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.


DHG Pharmaceutical JSC Cyclically Adjusted PB Ratio Related Terms


DHG Pharmaceutical JSC Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for DHG Pharmaceutical JSC'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.

DHG Pharmaceutical JSC Cyclically Adjusted PB Ratio Chart

DHG Pharmaceutical JSC 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 4.82 3.30 3.68 3.42 3.21

DHG Pharmaceutical JSC 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 3.23 3.17 3.21 3.21 3.10

STC:DHG vs ZTS, UTHR: Cyclically Adjusted PB Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, DHG Pharmaceutical JSC'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.


DHG Pharmaceutical JSC Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio falls into.


STC:DHG
78GF Score
DHG Pharmaceutical JSC STC:DHG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

DHG Pharmaceutical JSC 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.

DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=92000.00/32584.20
=2.82

* 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.

DHG Pharmaceutical JSC's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, DHG Pharmaceutical JSC'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)
=33981.479/330.2130*330.2130
=33,981.479

Current CPI (Mar. 2026) = 330.2130.

DHG Pharmaceutical JSC Quarterly Data

Book Value per Share CPI Adj_Book
201606 18,599.636 241.018 25,482.917
201609 20,079.737 241.428 27,464.048
201612 21,688.026 241.432 29,663.293
201703 23,198.932 243.801 31,421.483
201706 21,522.129 244.955 29,013.030
201709 21,591.239 246.819 28,886.382
201712 21,013.440 246.524 28,147.000
201803 21,306.708 249.554 28,193.305
201806 22,362.453 251.989 29,304.345
201809 22,422.754 252.439 29,330.986
201812 23,975.708 251.233 31,512.940
201903 23,014.478 254.202 29,896.224
201906 23,303.479 256.143 30,042.249
201909 24,217.609 256.759 31,145.819
201912 25,791.549 256.974 33,142.282
202003 26,951.718 258.115 34,480.010
202006 24,373.756 257.797 31,220.422
202009 25,645.937 260.280 32,536.583
202012 27,258.738 260.474 34,556.960
202103 28,821.671 264.877 35,930.981
202106 26,143.860 271.696 31,774.639
202109 27,683.555 274.310 33,325.324
202112 28,987.580 278.802 34,332.881
202203 27,215.996 287.504 31,258.959
202206 29,010.085 296.311 32,329.232
202209 31,016.929 296.808 34,507.807
202212 32,823.466 296.797 36,519.019
202303 35,584.263 301.836 38,929.704
202306 33,856.262 305.109 36,641.914
202309 35,126.478 307.789 37,685.621
202312 37,117.271 306.746 39,956.855
202403 38,816.969 312.332 41,039.240
202406 32,532.792 314.175 34,193.525
202409 33,726.058 315.301 35,321.115
202412 31,318.397 315.605 32,767.991
202503 33,354.710 319.799 34,440.880
202506 28,972.556 322.561 29,659.862
202509 30,576.003 324.800 31,085.572
202512 31,643.532 324.054 32,244.952
202603 33,981.479 330.213 33,981.479

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 2.82 mean?
DHG Pharmaceutical JSC (STC:DHG) has a Cyclically Adjusted PB Ratio of 2.82 as of Jul. 20, 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 DHG Pharmaceutical JSC and its competitors. This is 24% below median its historical median of 3.72. Over the past decade, DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio has ranged from 2.82 to 5.50. According to the industry distribution chart, DHG Pharmaceutical JSC ranks #493 out of 757 companies in the Drug Manufacturers industry, placing it in the top 65.1%.
Is DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio too high?
DHG Pharmaceutical JSC's current Cyclically Adjusted PB Ratio of 2.82 is 24% below median its 10-year median of 3.72. Over the past 10 years, this metric has ranged from a low of 2.82 to a high of 5.50. The Drug Manufacturers industry median Cyclically Adjusted PB Ratio is 1.86. DHG Pharmaceutical JSC's value of 2.82 is 51.6% above this industry median. Based on the distribution chart, DHG Pharmaceutical JSC ranks #493 out of 757 companies in the Drug Manufacturers industry, which is below the industry midpoint. Overall, DHG Pharmaceutical JSC has a GF Score™ of 78/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does DHG Pharmaceutical JSC's Cyclically Adjusted PB Ratio compare to ZTS and UTHR?
According to the Drug Manufacturers industry distribution chart, DHG Pharmaceutical JSC ranks #493 out of 757 companies for Cyclically Adjusted PB Ratio. This places DHG Pharmaceutical JSC in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.86. DHG Pharmaceutical JSC's value of 2.82 is 51.6% above this benchmark. Historically, DHG Pharmaceutical JSC's own Cyclically Adjusted PB Ratio has ranged from 2.82 to 5.50 over the past decade. While the company's 10-year median is 3.72 vs. the industry median of 1.86, DHG Pharmaceutical JSC 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 1.86, based on 757 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. DHG Pharmaceutical JSC's current Cyclically Adjusted PB Ratio of 2.82 is 51.6% 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 DHG Pharmaceutical JSC and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted PB Ratio is 1.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. DHG Pharmaceutical JSC's current Cyclically Adjusted PB Ratio is 2.82, which is 24% below median its own 10-year median of 3.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DHG Pharmaceutical JSC stock overvalued right now?
Based on GuruFocus' analysis, DHG Pharmaceutical JSC (STC:DHG) is currently considered Modestly Undervalued. The stock's GF Value™ is ₫113,941.05, compared to a current price of ₫92,000.00 — trading 19.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.82, which is 24% below median its 10-year median of 3.72 and 51.6% above the Drug Manufacturers industry median of 1.86. DHG Pharmaceutical JSC's overall GF Score™ is 78/100 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 DHG Pharmaceutical JSC (STC:DHG), the current Cyclically Adjusted PB Ratio is 2.82 as of Jul. 20, 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 DHG Pharmaceutical JSC (STC:DHG) Overvalued in 2026?

Based on GuruFocus' analysis, DHG Pharmaceutical JSC stock appears to be undervalued. The current stock price of ₫92,000.00 is trading 19.3% below its estimated GF Value™ of ₫113,941.05. GuruFocus considers DHG Pharmaceutical JSC to be Modestly Undervalued.

Key valuation signals for STC:DHG:

  • Cyclically Adjusted PB Ratio: 2.82 (24% below median its 10-year median of 3.72)
  • GF Value™: ₫113,941.05 vs. price of ₫92,000.00 (19.3% below fair value)
  • GF Score™: 78/100 with 4 warning signs
  • Industry Position: 51.6% above the Drug Manufacturers median (#493 of 757)

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


DHG Pharmaceutical JSC Business Description

Address 288 Bis Nguyen Van Cu, An Hoa Ward, Ninh Kieu District, Can Tho, VNM
DHG Pharmaceutical JSC produces and trades in pharmaceutical products. It provides various pharmaceutical products in the areas of antibiotics, antifungals, and antiparasitics; analgesics and antipyretics; ear-nose-throat, cough, and asthma; ophthalmic and nervous system; muscular and osteoarticular; digestive; hepatic; cardiovascular and diabetic; vitamins and minerals; and dermal and beauty care.
78GF Score

Get the complete analysis for STC:DHG

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

₫92,000.00
Price
₫113,941.05
GF Value