Iamgold (TSX:IMG) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

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.
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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.

TSX:IMG Iamgold Corp TSX:IMG
84 GF Score
Price C$29.25
GF Value C$19.25
Valuation Significantly Overvalued
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What is Iamgold Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Iamgold  (TSX:IMG) 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.


Iamgold Cyclically Adjusted PB Ratio Related Terms


Iamgold Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Iamgold'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.

Iamgold Cyclically Adjusted PB Ratio Chart

Iamgold 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 0.47 0.42 0.41 0.92 2.71

Iamgold Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 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 1.19 2.15 2.72 3.08 2.61

TSX:IMG vs NEM, AU: Cyclically Adjusted PB Ratio Comparison

For the Gold subindustry, Iamgold'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.


Iamgold Cyclically Adjusted PB Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Iamgold's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSX:IMG
84GF Score
Iamgold Corp TSX:IMG
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Iamgold 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.

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

For example, Iamgold'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)
=10.973/133.5265*133.5265
=10.973

Current CPI (Jun. 2026) = 133.5265.

Iamgold Quarterly Data

Book Value per Share CPI Adj_Book
201606 6.501 102.002 8.510
201609 6.618 101.765 8.684
201612 6.711 101.449 8.833
201703 6.596 102.634 8.581
201706 7.860 103.029 10.187
201709 7.674 103.345 9.915
201712 7.656 103.345 9.892
201803 7.981 105.004 10.149
201806 8.094 105.557 10.239
201809 7.953 105.636 10.053
201812 8.171 105.399 10.352
201903 7.924 106.979 9.890
201906 7.702 107.690 9.550
201909 7.760 107.611 9.629
201912 6.688 107.769 8.286
202003 7.035 107.927 8.704
202006 6.899 108.401 8.498
202009 6.839 108.164 8.443
202012 6.823 108.559 8.392
202103 6.840 110.298 8.281
202106 6.751 111.720 8.069
202109 6.738 112.905 7.969
202112 6.136 113.774 7.201
202203 6.166 117.646 6.998
202206 6.329 120.806 6.995
202209 6.347 120.648 7.025
202303 6.168 122.702 6.712
202306 6.262 124.203 6.732
202309 6.401 125.230 6.825
202312 6.203 125.072 6.622
202403 6.353 126.258 6.719
202406 6.467 127.522 6.772
202409 7.839 127.285 8.223
202412 8.559 127.364 8.973
202503 8.669 129.181 8.961
202506 8.148 129.892 8.376
202509 8.665 130.287 8.880
202512 9.846 130.366 10.085
202603 10.649 132.262 10.751
202606 10.973 133.527 10.973

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 Iamgold (TSX:IMG) Overvalued in 2026?

Based on GuruFocus' analysis, Iamgold stock appears to be overvalued. The current stock price of C$29.25 is trading 51.9% above its estimated GF Value™ of C$19.25. GuruFocus considers Iamgold to be Significantly Overvalued.

Key valuation signals for TSX:IMG:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: C$19.25 vs. price of C$29.25 (51.9% above fair value)
  • GF Score™: 84/100

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


Iamgold Business Description

Other Exchanges IAG:USA0XGN:UKIAL:Germany
Address 150 King Street West, Suite 2200, Toronto, ON, CAN, M5H 1J9
Iamgold Corp is a mid-tier gold mining company. The company operating gold mines are divided into geographic segments such as Cote Gold mine - Canada, Burkina Faso - Essakane mine, Westwood mine - Canada. The company's s non-gold mine segments are Exploration and evaluation and development, and Corporate - which includes royalty interests. The company generates the majority of its revenue from the Cote Gold mine segment.
84GF Score

Get the complete analysis for TSX:IMG

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

C$29.25
Price
C$19.25
GF Value