GDS Holdings (STU:G401) Cyclically Adjusted PB Ratio: (As of Aug. 14, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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.

STU:G401 GDS Holdings Ltd STU:G401
64 GF Score
Price €3.70
GF Value €2.25
Valuation Significantly Overvalued
! 5 Warning Signs
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What is GDS Holdings Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


GDS Holdings  (STU:G401) 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.


GDS Holdings Cyclically Adjusted PB Ratio Related Terms


GDS Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for GDS Holdings'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.

GDS Holdings Cyclically Adjusted PB Ratio Chart

GDS Holdings 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 0.00 0.00 0.00 0.00 2.73

GDS Holdings 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 2.53 3.15 2.73 3.09 0.00

STU:G401 vs PSN, INGM, G: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, GDS Holdings'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.


GDS Holdings Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, GDS Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:G401
64GF Score
GDS Holdings Ltd STU:G401
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

GDS Holdings 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.

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

For example, GDS Holdings'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)
=1.806/116.0564*116.0564
=1.806

Current CPI (Jun. 2026) = 116.0564.

GDS Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201609 -0.115 102.400 -0.130
201612 0.538 102.600 0.609
201703 0.526 103.200 0.592
201706 0.485 103.100 0.546
201709 0.462 104.100 0.515
201712 0.609 104.500 0.676
201803 0.720 105.300 0.794
201806 0.744 104.900 0.823
201809 0.695 106.600 0.757
201812 0.700 106.500 0.763
201903 0.998 107.700 1.075
201906 0.927 107.700 0.999
201909 0.918 109.800 0.970
201912 1.086 111.200 1.133
202003 1.086 112.300 1.122
202006 1.356 110.400 1.425
202009 1.297 111.700 1.348
202012 2.149 111.500 2.237
202103 2.192 112.662 2.258
202106 2.165 111.769 2.248
202109 2.184 112.215 2.259
202112 2.274 113.108 2.333
202203 2.251 114.335 2.285
202206 2.182 114.558 2.211
202209 2.175 115.339 2.189
202212 2.045 115.116 2.062
202303 2.015 115.116 2.031
202306 1.894 114.558 1.919
202309 1.842 115.339 1.853
202312 1.592 114.781 1.610
202403 1.613 115.227 1.625
202406 1.513 114.781 1.530
202409 1.524 115.785 1.528
202412 1.894 114.893 1.913
202503 1.997 115.116 2.013
202506 1.923 114.907 1.942
202509 1.910 115.471 1.920
202512 1.950 115.832 1.954
202603 2.225 116.303 2.220
202606 1.806 116.056 1.806

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 GDS Holdings (STU:G401) Overvalued in 2026?

Based on GuruFocus' analysis, GDS Holdings stock appears to be overvalued. The current stock price of €3.70 is trading 64.4% above its estimated GF Value™ of €2.25. GuruFocus considers GDS Holdings to be Significantly Overvalued.

Key valuation signals for STU:G401:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €2.25 vs. price of €3.70 (64.4% above fair value)
  • GF Score™: 64/100 with 5 warning signs

No single metric tells the full story. See the STU:G401 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


GDS Holdings Business Description

Address No. 999 Zhouhai Road, F4/F5, Building C, Sunland International, Pudong, Shanghai, CHN, 200137
GDS Holdings started as an IT service provider in 2001, then moved to the data center business with its first self-developed data center opening in 2010. The company now develops and operates data centers in China and also builds, operates, and transfers data centers for other clients. It offers colocation and managed services and mainly targets hyperscale cloud service customers who take large areas of its data centers or even whole data centers under long-term contracts. Its data centers are located predominantly in and around the Tier 1 cities in China, and it has also started expanding into Southeast Asia via the now 23% owned DayOne. GDS listed on the Nasdaq in 2016 and completed a secondary listing in Hong Kong in 2020.
64GF Score

Get the complete analysis for STU:G401

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

€3.70
Price
€2.25
GF Value