Telekom Srpske a.d (XBLB:TLKM-R-A) Cyclically Adjusted PB Ratio: 0.52 (As of Jul. 15, 2026) — 24% Below 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.

XBLB:TLKM-R-A Telekom Srpske a.d XBLB:TLKM-R-A
100 GF Score
Price BAM0.99
GF Value BAM1.25
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Telekom Srpske a.d Cyclically Adjusted PB Ratio?

Telekom Srpske a.d XBLB:TLKM-R-A -1.88% 100 Cyclically Adjusted PB Ratio is 0.52 as of Jul. 15, 2026, which is 24% below its 10-year median of 0.68. GuruFocus rates XBLB:TLKM-R-A with a GF Score™ of 100/100 and a GF Value™ of BAM1.25 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 289 Telecommunication Services companies, Telekom Srpske a.d ranks better than 85.47% on this metric.

As of today (2026-07-15), Telekom Srpske a.d's current share price is BAM0.991. Telekom Srpske a.d's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 was BAM1.89. Telekom Srpske a.d's Cyclically Adjusted PB Ratio for today is 0.52.

The historical rank and industry rank for Telekom Srpske a.d's Cyclically Adjusted PB Ratio or its related term are showing as below:

XBLB:TLKM-R-A' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.52   Med: 0.68   Max: 1.04
Current: 0.54

During the past 13 years, Telekom Srpske a.d's highest Cyclically Adjusted PB Ratio was 1.04. The lowest was 0.52. And the median was 0.68.

XBLB:TLKM-R-A's Cyclically Adjusted PB Ratio is ranked better than
85.47% of 289 companies
in the Telecommunication Services industry
Industry Median: 1.83 vs XBLB:TLKM-R-A: 0.54

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.

Telekom Srpske a.d's adjusted book value per share data of for the fiscal year that ended in Dec25 was BAM2.454. 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 BAM1.89 for the trailing ten years ended in Dec25.

Shiller PE for Stocks: The True Measure of Stock Valuation


Telekom Srpske a.d  (XBLB:TLKM-R-A) 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.


Telekom Srpske a.d Cyclically Adjusted PB Ratio Related Terms


Telekom Srpske a.d Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Telekom Srpske a.d'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.

Telekom Srpske a.d Cyclically Adjusted PB Ratio Chart

Telekom Srpske a.d 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 0.90 1.00 0.70 0.65 0.53

Telekom Srpske a.d 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 0.70 0.00 0.65 0.00 0.53

XBLB:TLKM-R-A vs TMUS, VZ, T: Cyclically Adjusted PB Ratio Comparison

For the Telecom Services subindustry, Telekom Srpske a.d'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.


Telekom Srpske a.d Cyclically Adjusted PB Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Telekom Srpske a.d's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Telekom Srpske a.d's Cyclically Adjusted PB Ratio falls into.


XBLB:TLKM-R-A
100GF Score
Telekom Srpske a.d XBLB:TLKM-R-A
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telekom Srpske a.d 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.

Telekom Srpske a.d's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.991/1.89
=0.52

* 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.

Telekom Srpske a.d's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Telekom Srpske a.d's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=2.454/324.0540*324.0540
=2.454

Current CPI (Dec25) = 324.0540.

Telekom Srpske a.d Annual Data

Book Value per Share CPI Adj_Book
201612 1.361 241.432 1.827
201712 1.345 246.524 1.768
201812 1.347 251.233 1.737
201912 1.396 256.974 1.760
202012 1.390 260.474 1.729
202112 1.381 278.802 1.605
202212 1.382 296.797 1.509
202312 2.104 306.746 2.223
202412 2.206 315.605 2.265
202512 2.454 324.054 2.454

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 0.52 mean?
Telekom Srpske a.d (XBLB:TLKM-R-A) has a Cyclically Adjusted PB Ratio of 0.52 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 Telekom Srpske a.d and its competitors. This is 24% below median its historical median of 0.68. Over the past decade, Telekom Srpske a.d's Cyclically Adjusted PB Ratio has ranged from 0.52 to 1.04. According to the industry distribution chart, Telekom Srpske a.d ranks #42 out of 289 companies in the Telecommunication Services industry, placing it in the top 14.5%.
Is Telekom Srpske a.d's Cyclically Adjusted PB Ratio too high?
Telekom Srpske a.d's current Cyclically Adjusted PB Ratio of 0.52 is 24% below median its 10-year median of 0.68. Over the past 10 years, this metric has ranged from a low of 0.52 to a high of 1.04. The Telecommunication Services industry median Cyclically Adjusted PB Ratio is 1.83. Telekom Srpske a.d's value of 0.52 is 71.6% below this industry median. Based on the distribution chart, Telekom Srpske a.d ranks #42 out of 289 companies in the Telecommunication Services industry, which is in the top quartile — a strong position relative to peers. Overall, Telekom Srpske a.d has a GF Score™ of 100/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Telekom Srpske a.d's Cyclically Adjusted PB Ratio compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Telekom Srpske a.d ranks #42 out of 289 companies for Cyclically Adjusted PB Ratio. This places Telekom Srpske a.d in the top 15% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.83. Telekom Srpske a.d's value of 0.52 is 71.6% below this benchmark. Historically, Telekom Srpske a.d's own Cyclically Adjusted PB Ratio has ranged from 0.52 to 1.04 over the past decade. While the company's 10-year median is 0.68 vs. the industry median of 1.83, Telekom Srpske a.d 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 Telecommunication Services company?
The median Cyclically Adjusted PB Ratio among Telecommunication Services companies is 1.83, based on 289 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. Telekom Srpske a.d's current Cyclically Adjusted PB Ratio of 0.52 is 71.6% 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 Telekom Srpske a.d and its competitors. For the Telecommunication Services industry, the median Cyclically Adjusted PB Ratio is 1.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Telekom Srpske a.d's current Cyclically Adjusted PB Ratio is 0.52, which is 24% below median its own 10-year median of 0.68. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Telekom Srpske a.d stock overvalued right now?
Based on GuruFocus' analysis, Telekom Srpske a.d (XBLB:TLKM-R-A) is currently considered Modestly Undervalued. The stock's GF Value™ is BAM1.25, compared to a current price of BAM0.99 — trading 20.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.52, which is 24% below median its 10-year median of 0.68 and 71.6% below the Telecommunication Services industry median of 1.83. Telekom Srpske a.d's overall GF Score™ is 100/100 with 6 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 Telekom Srpske a.d (XBLB:TLKM-R-A), the current Cyclically Adjusted PB Ratio is 0.52 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 Telekom Srpske a.d (XBLB:TLKM-R-A) Overvalued in 2026?

Based on GuruFocus' analysis, Telekom Srpske a.d stock appears to be undervalued. The current stock price of BAM0.99 is trading 20.7% below its estimated GF Value™ of BAM1.25. GuruFocus considers Telekom Srpske a.d to be Modestly Undervalued.

Key valuation signals for XBLB:TLKM-R-A:

  • Cyclically Adjusted PB Ratio: 0.52 (24% below median its 10-year median of 0.68)
  • GF Value™: BAM1.25 vs. price of BAM0.99 (20.7% below fair value)
  • GF Score™: 100/100 with 6 warning signs
  • Industry Position: 71.6% below the Telecommunication Services median (#42 of 289)

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


Telekom Srpske a.d Business Description

Address 93, Kralja Petra I, Karadordevica, Banja Luka, BIH, 78000
Telekom Srpske a.d is a telecommunications company. It offers telecommunication services in the field of mobile telephony, fixed telephony, digital television, the Internet and data transfer. In addition to its core business, the company also offers a wide range of other telecommunication services, including other fixed telephone services, data transfer, lease lines, as well as additional services in the field of mobile telephony, internet and multimedia services. The company also provides services in the field of leasing, construction, management and protection of telecommunication infrastructure.
100GF Score

Get the complete analysis for XBLB:TLKM-R-A

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

BAM0.99
Price
BAM1.25
GF Value