KBC Ancora (WBO:KBCA) Cyclically Adjusted PB Ratio: (As of Aug. 12, 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.

WBO:KBCA KBC Ancora SA WBO:KBCA
66 GF Score
Price €90.30
GF Value €59.01
! 8 Warning Signs
View Full Analysis

What is KBC Ancora 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


KBC Ancora  (WBO:KBCA) 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.


KBC Ancora Cyclically Adjusted PB Ratio Related Terms


KBC Ancora Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for KBC Ancora'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.

KBC Ancora Cyclically Adjusted PB Ratio Chart

KBC Ancora Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.09 0.93 1.04 1.01 1.30

KBC Ancora Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 0.00 1.01 0.00 1.30 0.00

WBO:KBCA vs BLK, BX, KKR: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, KBC Ancora'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.


KBC Ancora Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, KBC Ancora's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


WBO:KBCA
66GF Score
KBC Ancora SA WBO:KBCA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

KBC Ancora 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.

KBC Ancora's Cyclically Adjusted Book per Share for the fiscal year that ended in Jun25 is calculated as:

For example, KBC Ancora's adjusted Book Value per Share data for the fiscal year that ended in Jun25 was:

Adj_Book=Book Value per Share/CPI of Jun25 (Change)*Current CPI (Jun25)
=45.82/133.4952*133.4952
=45.820

Current CPI (Jun25) = 133.4952.

KBC Ancora Annual Data

Book Value per Share CPI Adj_Book
201606 26.120 102.267 34.096
201706 34.759 103.902 44.659
201806 34.895 106.063 43.920
201906 35.056 107.896 43.373
202006 35.833 108.540 44.071
202106 42.397 110.305 51.311
202206 43.952 120.948 48.511
202306 45.191 125.973 47.889
202406 45.234 130.691 46.205
202506 45.820 133.495 45.820

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 KBC Ancora (WBO:KBCA) Overvalued in 2026?

Based on GuruFocus' analysis, KBC Ancora stock appears to be overvalued. The current stock price of €90.30 is trading 53% above its estimated GF Value™ of €59.01.

Key valuation signals for WBO:KBCA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €59.01 vs. price of €90.30 (53% above fair value)
  • GF Score™: 66/100 with 8 warning signs

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


KBC Ancora Business Description

Address Muntstraat 1, Leuven, BEL, 3000
KBC Ancora SA is a financial services holding company whose sole asset is a substantial participating interest in KBC Group. Its operational activities are fairly limited. The group engages in retail banking, insurance, and asset management services, deriving the vast majority of its profits from activities in Belgium. Other profit-driving markets include the Czech Republic, Bulgaria, and Ireland. Revenue is reported through net interest income, insurance premiums, and fees and commissions, reflecting a diverse range of services.
66GF Score

Get the complete analysis for WBO:KBCA

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

€90.30
Price
€59.01
GF Value