Scorpio Gold (TSXV:SGLD) Cyclically Adjusted PB Ratio: 0.37 (As of Sep. 03, 2026) — 208% Above 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.

TSXV:SGLD Scorpio Gold Corp TSXV:SGLD
33 GF Score
Price C$0.49
! 2 Warning Signs
View Full Analysis

What is Scorpio Gold Cyclically Adjusted PB Ratio?

Scorpio Gold TSXV:SGLD +38.03% 33 Cyclically Adjusted PB Ratio is 0.37 as of Sep. 03, 2026, which is 208% above its 10-year median of 0.12. GuruFocus rates TSXV:SGLD with a GF Score™ of 33/100. The stock has 2 warning signs investors should review. Among 1,501 Metals & Mining companies, Scorpio Gold ranks better than 84.54% on this metric.

As of today (2026-09-03), Scorpio Gold's current share price is C$0.49. Scorpio Gold's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was C$1.31. Scorpio Gold's Cyclically Adjusted PB Ratio for today is 0.37.

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

TSXV:SGLD' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.02   Med: 0.12   Max: 0.49
Current: 0.38

During the past years, Scorpio Gold's highest Cyclically Adjusted PB Ratio was 0.49. The lowest was 0.02. And the median was 0.12.

TSXV:SGLD's Cyclically Adjusted PB Ratio is ranked better than
84.54% of 1501 companies
in the Metals & Mining industry
Industry Median: 1.54 vs TSXV:SGLD: 0.38

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.

Scorpio Gold's adjusted book value per share data for the three months ended in Jun. 2026 was C$0.097. 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 C$1.31 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Scorpio Gold  (TSXV:SGLD) 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.


Scorpio Gold Cyclically Adjusted PB Ratio Related Terms


Scorpio Gold Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Scorpio Gold'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.

Scorpio Gold Cyclically Adjusted PB Ratio Chart

Scorpio Gold 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 0.22 0.10 0.07 0.05 0.24

Scorpio Gold 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 0.13 0.27 0.24 0.29 0.21

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

For the Gold subindustry, Scorpio Gold'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.


Scorpio Gold Cyclically Adjusted PB Ratio vs Metals & Mining Industry

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

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


TSXV:SGLD
33GF Score
Scorpio Gold Corp TSXV:SGLD
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Scorpio Gold 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.

Scorpio Gold's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.49/1.31
=0.37

* 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.

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

For example, Scorpio Gold'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)
=0.097/133.5265*133.5265
=0.097

Current CPI (Jun. 2026) = 133.5265.

Scorpio Gold Quarterly Data

Book Value per Share CPI Adj_Book
201609 2.645 101.765 3.471
201612 2.489 101.449 3.276
201703 2.474 102.634 3.219
201706 2.393 103.029 3.101
201709 1.843 103.345 2.381
201712 1.706 103.345 2.204
201803 1.717 105.004 2.183
201806 1.747 105.557 2.210
201809 1.765 105.636 2.231
201812 1.743 105.399 2.208
201903 1.471 106.979 1.836
201906 2.634 107.690 3.266
201909 2.571 107.611 3.190
201912 1.831 107.769 2.269
202003 1.801 107.927 2.228
202006 1.622 108.401 1.998
202009 1.471 108.164 1.816
202012 1.108 108.559 1.363
202103 1.073 110.298 1.299
202106 1.081 111.720 1.292
202109 1.010 112.905 1.194
202112 0.635 113.774 0.745
202203 0.571 117.646 0.648
202206 0.310 120.806 0.343
202209 0.345 120.648 0.382
202212 0.280 120.964 0.309
202303 0.243 122.702 0.264
202306 0.198 124.203 0.213
202309 0.168 125.230 0.179
202312 0.140 125.072 0.149
202403 0.079 126.258 0.084
202406 0.111 127.522 0.116
202409 0.123 127.285 0.129
202412 0.004 127.364 0.004
202503 0.011 129.181 0.011
202506 0.020 129.892 0.021
202509 0.095 130.287 0.097
202512 0.095 130.366 0.097
202603 0.098 132.262 0.099
202606 0.097 133.527 0.097

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 0.37 mean?
Scorpio Gold (TSXV:SGLD) has a Cyclically Adjusted PB Ratio of 0.37 as of Sep. 03, 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 Scorpio Gold and its competitors. This is 208% above median its historical median of 0.12. Over the past decade, Scorpio Gold's Cyclically Adjusted PB Ratio has ranged from 0.02 to 0.49. According to the industry distribution chart, Scorpio Gold ranks #232 out of 1501 companies in the Metals & Mining industry, placing it in the top 15.5%.
Is Scorpio Gold's Cyclically Adjusted PB Ratio too high?
Scorpio Gold's current Cyclically Adjusted PB Ratio of 0.37 is 208% above median its 10-year median of 0.12. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.49. The Metals & Mining industry median Cyclically Adjusted PB Ratio is 1.54. Scorpio Gold's value of 0.37 is 76% below this industry median. Based on the distribution chart, Scorpio Gold ranks #232 out of 1501 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Scorpio Gold has a GF Score™ of 33/100, reflecting its overall financial health beyond just this single metric.
How does Scorpio Gold's Cyclically Adjusted PB Ratio compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Scorpio Gold ranks #232 out of 1501 companies for Cyclically Adjusted PB Ratio. This places Scorpio Gold in the top 16% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.54. Scorpio Gold's value of 0.37 is 76% below this benchmark. Historically, Scorpio Gold's own Cyclically Adjusted PB Ratio has ranged from 0.02 to 0.49 over the past decade. While the company's 10-year median is 0.12 vs. the industry median of 1.54, Scorpio Gold has consistently been below 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 Metals & Mining company?
The median Cyclically Adjusted PB Ratio among Metals & Mining companies is 1.54, based on 1,501 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. Scorpio Gold's current Cyclically Adjusted PB Ratio of 0.37 is 76% below 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 Scorpio Gold and its competitors. For the Metals & Mining industry, the median Cyclically Adjusted PB Ratio is 1.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Scorpio Gold's current Cyclically Adjusted PB Ratio is 0.37, which is 208% above median its own 10-year median of 0.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Scorpio Gold stock overvalued right now?
Scorpio Gold (TSXV:SGLD) has a current Cyclically Adjusted PB Ratio of 0.37. The current Cyclically Adjusted PB Ratio is 0.37, which is 208% above median its 10-year median of 0.12 and 76% below the Metals & Mining industry median of 1.54. Scorpio Gold's overall GF Score™ is 33/100 with 2 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 Scorpio Gold (TSXV:SGLD), the current Cyclically Adjusted PB Ratio is 0.37 as of Sep. 03, 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.

Scorpio Gold Business Description

Other Exchanges SRCRF:USARY9:Germany
Address 1095 West Pender Street, Suite 750, Vancouver, BC, CAN, V6E 2M6
Scorpio Gold Corp is a company that is engaged in mineral exploitation, exploration, and development in the United States. It holds an interest in the Mineral Ridge gold project, which is located in the northwest of the town of Silver Peak and west of Tonopah in Esmeralda County, Nevada. Its other project includes the Goldwedge property, which is located north-northeast of the town of Tonopah within the Manhattan Mining District of south-central Nevada.
33GF Score

Get the complete analysis for TSXV:SGLD

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

C$0.49
Price