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Thermal Energy InternationalTMGEF 53 Cyclically Adjusted PB Ratio is 11.70 as of Jul. 15, 2026, which is 181% above its 10-year median of 4.17. GuruFocus rates TMGEF with a GF Score™ of 53/100 and a GF Value™ of $0.18 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 2,292 Industrial Products companies, Thermal Energy International ranks worse than 85.34% on this metric.
The historical rank and industry rank for Thermal Energy International's Cyclically Adjusted PB Ratio or its related term are showing as below:
TMGEF'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.17 Med: 4.17 Max: 16.5
Current: 7.59
During the past years, Thermal Energy International's highest Cyclically Adjusted PB Ratio was 16.50. The lowest was 1.17. And the median was 4.17.
TMGEF's Cyclically Adjusted PB Ratio is ranked worse than 85.34% of 2292
companies
in the Industrial Products industry
Industry Median: 2.21
vs TMGEF: 7.59
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.
Thermal Energy International's adjusted book value per share data for the three months ended in Feb. 2026 was $0.021. 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 $0.01 for the trailing ten years ended in Feb. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Thermal Energy International (OTCPK:TMGEF) 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.
Thermal Energy International Cyclically Adjusted PB Ratio Related Terms
Thermal Energy International 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.
Thermal Energy International Cyclically Adjusted PB Ratio Chart
TMGEF vs VLTO, ZWS, CECO: Cyclically Adjusted PB Ratio Comparison
For the Pollution & Treatment Controls subindustry, Thermal Energy International'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.
Thermal Energy International Cyclically Adjusted PB Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Thermal Energy International's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Thermal Energy International's Cyclically Adjusted PB Ratio falls into.
Thermal Energy International 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 11.70 mean?
Thermal Energy International (TMGEF) has a Cyclically Adjusted PB Ratio of 11.70 as of Jul. 15, 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 Thermal Energy International and its competitors. This is 181% above median its historical median of 4.17. Over the past decade, Thermal Energy International's Cyclically Adjusted PB Ratio has ranged from 1.17 to 16.50. According to the industry distribution chart, Thermal Energy International ranks #1956 out of 2292 companies in the Industrial Products industry, placing it in the top 85.3%.
Is Thermal Energy International's Cyclically Adjusted PB Ratio too high?
Thermal Energy International's current Cyclically Adjusted PB Ratio of 11.70 is 181% above median its 10-year median of 4.17. Over the past 10 years, this metric has ranged from a low of 1.17 to a high of 16.50. The Industrial Products industry median Cyclically Adjusted PB Ratio is 2.21. Thermal Energy International's value of 11.70 is 429.4% above this industry median. Based on the distribution chart, Thermal Energy International ranks #1956 out of 2292 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Thermal Energy International has a GF Score™ of 53/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Thermal Energy International's Cyclically Adjusted PB Ratio compare to VLTO and ZWS?
According to the Industrial Products industry distribution chart, Thermal Energy International ranks #1956 out of 2292 companies for Cyclically Adjusted PB Ratio. This places Thermal Energy International in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.21. Thermal Energy International's value of 11.70 is 429.4% above this benchmark. Historically, Thermal Energy International's own Cyclically Adjusted PB Ratio has ranged from 1.17 to 16.50 over the past decade. While the company's 10-year median is 4.17 vs. the industry median of 2.21, Thermal Energy International 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 an Industrial Products company?
The median Cyclically Adjusted PB Ratio among Industrial Products companies is 2.21, based on 2,292 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. Thermal Energy International's current Cyclically Adjusted PB Ratio of 11.70 is 429.4% 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 Thermal Energy International and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PB Ratio is 2.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thermal Energy International's current Cyclically Adjusted PB Ratio is 11.70, which is 181% above median its own 10-year median of 4.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thermal Energy International stock overvalued right now?
Based on GuruFocus' analysis, Thermal Energy International (TMGEF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.18, compared to a current price of $0.12 — trading 35% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 11.70, which is 181% above median its 10-year median of 4.17 and 429.4% above the Industrial Products industry median of 2.21. Thermal Energy International's overall GF Score™ is 53/100 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 Thermal Energy International (TMGEF), the current Cyclically Adjusted PB Ratio is 11.70 as of Jul. 15, 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 Thermal Energy International (TMGEF) Overvalued in 2026?
Based on GuruFocus' analysis, Thermal Energy International stock appears to be undervalued.
The current stock price of $0.12 is trading 35% below its estimated GF Value™ of $0.18.
GuruFocus considers Thermal Energy International to be Possible Value Trap.
Key valuation signals for TMGEF:
Cyclically Adjusted PB Ratio: 11.70 (181% above median its 10-year median of 4.17)
GF Value™: $0.18 vs. price of $0.12 (35% below fair value)
Industry Position: 429.4% above the Industrial Products median (#1956 of 2292)
No single metric tells the full story. See the TMGEF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thermal Energy International Inc is a supplier of proprietary, energy efficiency and emissions reduction solutions to the industrial and institutional sectors. It markets, sells, engineers, fabricates, constructs, installs and supports technology lines - heat recovery solutions and condensate return system solutions. The product portfolio consists of GEM steam traps, FLU-ACE - direct contact condensing heat recovery, and Dry Rex - low-temperature biomass drying systems. The operating segment includes geographical areas that reflect the core business which has units located in Ottawa, Canada and Bristol, UK. The firm derives revenue from Canada, the UK, Germany, France, Poland, India, etc and the rest of the world. Substantial sales revenue comes from the USA.
53GF Score
Get the complete analysis for TMGEF
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