Agricultural Development Bank (XGHA:ADB) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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.

XGHA:ADB Agricultural Development Bank Ltd XGHA:ADB
13 GF Score
Price GHS5.30
GF Value GHS5.19
Valuation Fairly Valued
! 4 Warning Signs
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What is Agricultural Development Bank Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Agricultural Development Bank  (XGHA:ADB) 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.


Agricultural Development Bank Cyclically Adjusted PB Ratio Related Terms


Agricultural Development Bank Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Agricultural Development Bank'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.

Agricultural Development Bank Cyclically Adjusted PB Ratio Chart

Agricultural Development Bank 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 0.73 0.77 0.95 3.40 5.02

Agricultural Development Bank 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 3.32 3.30 4.53 4.37 4.44

Agricultural Development Bank Cyclically Adjusted PB Ratio Competitor Comparison

For the Banks - Regional subindustry, Agricultural Development Bank'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.


Agricultural Development Bank Cyclically Adjusted PB Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Agricultural Development Bank's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


XGHA:ADB
13GF Score
Agricultural Development Bank Ltd XGHA:ADB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Agricultural Development Bank 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.

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

For example, Agricultural Development Bank'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)
=1.614/333.9520*333.9520
=1.614

Current CPI (Jun. 2026) = 333.9520.

Agricultural Development Bank Quarterly Data

Book Value per Share CPI Adj_Book
201609 4.887 241.428 6.760
201612 0.725 241.432 1.003
201703 0.784 243.801 1.074
201706 0.804 244.955 1.096
201709 0.802 246.819 1.085
201712 0.764 246.524 1.035
201803 0.784 249.554 1.049
201806 0.525 251.989 0.696
201809 0.558 252.439 0.738
201812 1.020 251.233 1.356
201903 1.090 254.202 1.432
201906 1.001 256.143 1.305
201909 1.006 256.759 1.308
201912 1.157 256.974 1.504
202003 1.023 258.115 1.324
202006 1.046 257.797 1.355
202009 1.083 260.280 1.390
202012 0.935 260.474 1.199
202103 1.113 264.877 1.403
202106 0.997 271.696 1.225
202109 1.034 274.310 1.259
202112 1.032 278.802 1.236
202203 1.052 287.504 1.222
202206 1.076 296.311 1.213
202209 1.078 296.808 1.213
202212 0.724 296.797 0.815
202303 0.753 301.836 0.833
202306 0.782 305.109 0.856
202309 0.726 307.789 0.788
202312 -0.112 306.746 -0.122
202403 -0.084 312.332 -0.090
202406 -0.030 314.175 -0.032
202409 0.838 315.301 0.888
202412 0.773 315.605 0.818
202503 0.815 319.799 0.851
202506 0.913 322.561 0.945
202509 0.944 324.800 0.971
202512 1.499 324.054 1.545
202603 1.561 330.213 1.579
202606 1.614 333.952 1.614

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 Agricultural Development Bank (XGHA:ADB) Overvalued in 2026?

Based on GuruFocus' analysis, Agricultural Development Bank stock appears to be overvalued. The current stock price of GHS5.30 is trading 2.1% above its estimated GF Value™ of GHS5.19. GuruFocus considers Agricultural Development Bank to be Fairly Valued.

Key valuation signals for XGHA:ADB:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: GHS5.19 vs. price of GHS5.30 (2.1% above fair value)
  • GF Score™: 13/100 with 4 warning signs

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


Agricultural Development Bank Business Description

Address Accra Financial Centre, P.O. Box 4191, Ridge-Accra, 3rd Ambassadorial Development Area, Accra, GHA
Agricultural Development Bank Ltd is a universal bank offering a full range of banking products and services in Consumer, Corporate, Parastatals/Public Sector, SME, Agribusiness, Trade and E-Banking services. Its business focus is universal banking with a developmental focus on Agriculture and more. The company's operating segment includes Corporate Banking, Retail Banking, and Central Treasury. The majority of revenue is derived from the Retail Banking segment, which focuses on high-volume, standardized financial products and services such as loans and advances, deposits and other transactions with retail customers. Geographically, all revenues are generated in Ghana.
13GF Score

Get the complete analysis for XGHA:ADB

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

GHS5.30
Price
GHS5.19
GF Value