Zetrix AI Bhd (XKLS:0138) Cyclically Adjusted PB Ratio: 2.76 (As of Aug. 19, 2026) — 66% 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.

XKLS:0138 Zetrix AI Bhd XKLS:0138
88 GF Score
Price RM0.64
GF Value RM1.43
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Zetrix AI Bhd Cyclically Adjusted PB Ratio?

Zetrix AI Bhd XKLS:0138 -11.81% 88 Cyclically Adjusted PB Ratio is 2.76 as of Aug. 19, 2026, which is 66% below its 10-year median of 8.21. GuruFocus rates XKLS:0138 with a GF Score™ of 88/100 and a GF Value™ of RM1.43 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 1,543 Software companies, Zetrix AI Bhd ranks worse than 60.14% on this metric.

As of today (2026-08-19), Zetrix AI Bhd's current share price is RM0.635. Zetrix AI Bhd's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was RM0.23. Zetrix AI Bhd's Cyclically Adjusted PB Ratio for today is 2.76.

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

XKLS:0138' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.76   Med: 8.21   Max: 20.03
Current: 2.8

During the past years, Zetrix AI Bhd's highest Cyclically Adjusted PB Ratio was 20.03. The lowest was 2.76. And the median was 8.21.

XKLS:0138's Cyclically Adjusted PB Ratio is ranked worse than
60.14% of 1543 companies
in the Software industry
Industry Median: 2.34 vs XKLS:0138: 2.80

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.

Zetrix AI Bhd's adjusted book value per share data for the three months ended in Mar. 2026 was RM0.518. 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 RM0.23 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Zetrix AI Bhd  (XKLS:0138) 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.


Zetrix AI Bhd Cyclically Adjusted PB Ratio Related Terms


Zetrix AI Bhd Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Zetrix AI Bhd'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.

Zetrix AI Bhd Cyclically Adjusted PB Ratio Chart

Zetrix AI Bhd Annual Data
Trend Jun15 Jun16 Jun17 Sep19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 14.20 8.50 6.26 5.79 3.84

Zetrix AI Bhd Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 5.13 5.02 4.24 3.84 3.27

XKLS:0138 vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Zetrix AI Bhd'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.


Zetrix AI Bhd Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Zetrix AI Bhd's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Zetrix AI Bhd's Cyclically Adjusted PB Ratio falls into.


XKLS:0138
88GF Score
Zetrix AI Bhd XKLS:0138
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zetrix AI Bhd 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.

Zetrix AI Bhd's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.635/0.23
=2.76

* 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.

Zetrix AI Bhd's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Zetrix AI Bhd's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.518/330.2130*330.2130
=0.518

Current CPI (Mar. 2026) = 330.2130.

Zetrix AI Bhd Quarterly Data

Book Value per Share CPI Adj_Book
201509 0.041 237.945 0.057
201512 0.048 236.525 0.067
201603 0.050 238.132 0.069
201606 0.055 241.018 0.075
201609 0.060 241.428 0.082
201612 0.063 241.432 0.086
201703 0.071 243.801 0.096
201706 0.077 244.955 0.104
201709 0.084 246.819 0.112
201712 0.092 246.524 0.123
201803 0.095 249.554 0.126
201812 0.082 251.233 0.108
201903 0.088 254.202 0.114
201906 0.087 256.143 0.112
201909 0.096 256.759 0.123
202003 0.111 258.115 0.142
202006 0.119 257.797 0.152
202009 0.129 260.280 0.164
202012 0.159 260.474 0.202
202103 0.168 264.877 0.209
202106 0.176 271.696 0.214
202109 0.179 274.310 0.215
202112 0.209 278.802 0.248
202203 0.219 287.504 0.252
202206 0.232 296.311 0.259
202209 0.245 296.808 0.273
202212 0.252 296.797 0.280
202303 0.258 301.836 0.282
202306 0.273 305.109 0.295
202309 0.281 307.789 0.301
202312 0.295 306.746 0.318
202403 0.317 312.332 0.335
202406 0.339 314.175 0.356
202409 0.353 315.301 0.370
202412 0.378 315.605 0.395
202503 0.414 319.799 0.427
202506 0.440 322.561 0.450
202509 0.449 324.800 0.456
202512 0.478 324.054 0.487
202603 0.518 330.213 0.518

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 2.76 mean?
Zetrix AI Bhd (XKLS:0138) has a Cyclically Adjusted PB Ratio of 2.76 as of Aug. 19, 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 Zetrix AI Bhd and its competitors. This is 66% below median its historical median of 8.21. Over the past decade, Zetrix AI Bhd's Cyclically Adjusted PB Ratio has ranged from 2.76 to 20.03. According to the industry distribution chart, Zetrix AI Bhd ranks #928 out of 1543 companies in the Software industry, placing it in the top 60.1%.
Is Zetrix AI Bhd's Cyclically Adjusted PB Ratio too high?
Zetrix AI Bhd's current Cyclically Adjusted PB Ratio of 2.76 is 66% below median its 10-year median of 8.21. Over the past 10 years, this metric has ranged from a low of 2.76 to a high of 20.03. The Software industry median Cyclically Adjusted PB Ratio is 2.34. Zetrix AI Bhd's value of 2.76 is 17.9% above this industry median. Based on the distribution chart, Zetrix AI Bhd ranks #928 out of 1543 companies in the Software industry, which is below the industry midpoint. Overall, Zetrix AI Bhd has a GF Score™ of 88/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Zetrix AI Bhd's Cyclically Adjusted PB Ratio compare to IBM and ACN?
According to the Software industry distribution chart, Zetrix AI Bhd ranks #928 out of 1543 companies for Cyclically Adjusted PB Ratio. This places Zetrix AI Bhd in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.34. Zetrix AI Bhd's value of 2.76 is 17.9% above this benchmark. Historically, Zetrix AI Bhd's own Cyclically Adjusted PB Ratio has ranged from 2.76 to 20.03 over the past decade. While the company's 10-year median is 8.21 vs. the industry median of 2.34, Zetrix AI Bhd has consistently been above 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 Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.34, based on 1,543 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. Zetrix AI Bhd's current Cyclically Adjusted PB Ratio of 2.76 is 17.9% above 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 Zetrix AI Bhd and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zetrix AI Bhd's current Cyclically Adjusted PB Ratio is 2.76, which is 66% below median its own 10-year median of 8.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zetrix AI Bhd stock overvalued right now?
Based on GuruFocus' analysis, Zetrix AI Bhd (XKLS:0138) is currently considered Significantly Undervalued. The stock's GF Value™ is RM1.43, compared to a current price of RM0.64 — trading 55.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.76, which is 66% below median its 10-year median of 8.21 and 17.9% above the Software industry median of 2.34. Zetrix AI Bhd's overall GF Score™ is 88/100 with 3 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 Zetrix AI Bhd (XKLS:0138), the current Cyclically Adjusted PB Ratio is 2.76 as of Aug. 19, 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 Zetrix AI Bhd (XKLS:0138) Overvalued in 2026?

Based on GuruFocus' analysis, Zetrix AI Bhd stock appears to be undervalued. The current stock price of RM0.64 is trading 55.6% below its estimated GF Value™ of RM1.43. GuruFocus considers Zetrix AI Bhd to be Significantly Undervalued.

Key valuation signals for XKLS:0138:

  • Cyclically Adjusted PB Ratio: 2.76 (66% below median its 10-year median of 8.21)
  • GF Value™: RM1.43 vs. price of RM0.64 (55.6% below fair value)
  • GF Score™: 88/100 with 3 warning signs
  • Industry Position: 17.9% above the Software median (#928 of 1543)

No single metric tells the full story. See the XKLS:0138 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Zetrix AI Bhd Business Description

Address No. 8, Jalan Damansara, PJU 8, Level UG, Zetrix Tower, Empire City, Petaling Jaya, SGR, MYS, 47820
Zetrix AI Bhd is engaged in blockchain and artificial intelligence solutions. The company operates Zetrix, a Layer-1 public blockchain platform that supports cross-border digital identity verification and smart contract capabilities.
88GF Score

Get the complete analysis for XKLS:0138

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

RM0.64
Price
RM1.43
GF Value