One Bullion (TSXV:OBUL) 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.
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.

TSXV:OBUL One Bullion Ltd TSXV:OBUL
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What is One Bullion Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


One Bullion  (TSXV:OBUL) 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.


One Bullion Cyclically Adjusted PB Ratio Related Terms


One Bullion Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for One Bullion'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.

One Bullion Cyclically Adjusted PB Ratio Chart

One Bullion Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Dec25
Cyclically Adjusted PB Ratio
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One Bullion Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 - - 0.04 0.01 0.01

TSXV:OBUL vs NEM, AU: Cyclically Adjusted PB Ratio Comparison

For the Gold subindustry, One Bullion'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.


One Bullion Cyclically Adjusted PB Ratio vs Metals & Mining Industry

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

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


TSXV:OBUL
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One Bullion Ltd TSXV:OBUL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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One Bullion 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.

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

For example, One Bullion'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)
=0.33/133.5265*133.5265
=0.330

Current CPI (Jun. 2026) = 133.5265.

One Bullion Quarterly Data

Book Value per Share CPI Adj_Book
201603 37.859 101.054 50.025
201606 34.394 102.002 45.024
201609 33.505 101.765 43.962
201612 38.429 101.449 50.580
201703 39.406 102.634 51.267
201706 41.528 103.029 53.821
201709 43.478 103.345 56.176
201712 46.551 103.345 60.146
201803 46.561 105.004 59.208
201806 49.608 105.557 62.753
201809 47.491 105.636 60.030
201812 47.223 105.399 59.825
201903 42.005 106.979 52.429
201906 41.023 107.690 50.865
201909 39.506 107.611 49.020
201912 38.286 107.769 47.436
202003 36.903 107.927 45.656
202006 28.007 108.401 34.498
202009 20.842 108.164 25.729
202012 22.494 108.559 27.667
202103 22.273 110.298 26.964
202106 20.314 111.720 24.279
202109 23.035 112.905 27.242
202112 22.202 113.774 26.057
202203 21.523 117.646 24.428
202206 24.249 120.806 26.802
202209 22.194 120.648 24.563
202212 23.539 120.964 25.984
202303 23.190 122.702 25.236
202306 28.317 124.203 30.443
202309 28.690 125.230 30.591
202312 0.642 125.072 0.685
202403 0.589 126.258 0.623
202406 0.532 127.522 0.557
202503 0.302 129.181 0.312
202506 0.249 129.892 0.256
202509 -0.060 130.287 -0.061
202512 0.276 130.366 0.283
202603 0.422 132.262 0.426
202606 0.330 133.527 0.330

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.


One Bullion Business Description

Other Exchanges OBULF:USA
Address 130 Spadina Avenue, Suite 401, Toronto, ON, CAN, M5V 2L4
One Bullion Ltd is the gold exploration company in Botswana. The company leverages AI-driven targeting and extensive geological surveys to maximize gold discovery in one of Africas stable and pro-mining jurisdictions.
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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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