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Carlsberg Brewery Malaysia BhdXKLS:2836 +0.25%81 Cyclically Adjusted PB Ratio is 17.84 as of Jul. 28, 2026, which is 20% below its 10-year median of 22.24. GuruFocus rates XKLS:2836 with a GF Score™ of 81/100 and a GF Value™ of RM19.41 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 169 Beverages - Alcoholic companies, Carlsberg Brewery Malaysia Bhd ranks worse than 95.86% on this metric.
The historical rank and industry rank for Carlsberg Brewery Malaysia Bhd's Cyclically Adjusted PB Ratio or its related term are showing as below:
XKLS:2836'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 17.85 Med: 22.24 Max: 27
Current: 17.85
During the past years, Carlsberg Brewery Malaysia Bhd's highest Cyclically Adjusted PB Ratio was 27.00. The lowest was 17.85. And the median was 22.24.
XKLS:2836's Cyclically Adjusted PB Ratio is ranked worse than 95.86% of 169
companies
in the Beverages - Alcoholic industry
Industry Median: 1.49
vs XKLS:2836: 17.85
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.
Carlsberg Brewery Malaysia Bhd's adjusted book value per share data for the three months ended in Mar. 2026 was RM1.370. 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 RM0.89 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Carlsberg Brewery Malaysia Bhd (XKLS:2836) 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.
Carlsberg Brewery Malaysia Bhd Cyclically Adjusted PB Ratio Related Terms
Carlsberg Brewery Malaysia Bhd Cyclically Adjusted PB Ratio Historical Data
* 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.
Carlsberg Brewery Malaysia Bhd Cyclically Adjusted PB Ratio Chart
XKLS:2836 vs STZ, TAP: Cyclically Adjusted PB Ratio Comparison
For the Beverages - Brewers subindustry, Carlsberg Brewery Malaysia 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.
Carlsberg Brewery Malaysia Bhd Cyclically Adjusted PB Ratio vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, Carlsberg Brewery Malaysia Bhd's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Carlsberg Brewery Malaysia Bhd's Cyclically Adjusted PB Ratio falls into.
Carlsberg Brewery Malaysia 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.
* 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.
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 17.84 mean?
Carlsberg Brewery Malaysia Bhd (XKLS:2836) has a Cyclically Adjusted PB Ratio of 17.84 as of Jul. 28, 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 Carlsberg Brewery Malaysia Bhd and its competitors. This is 20% below median its historical median of 22.24. Over the past decade, Carlsberg Brewery Malaysia Bhd's Cyclically Adjusted PB Ratio has ranged from 17.85 to 27.00. According to the industry distribution chart, Carlsberg Brewery Malaysia Bhd ranks #162 out of 169 companies in the Beverages - Alcoholic industry, placing it in the top 95.9%.
Is Carlsberg Brewery Malaysia Bhd's Cyclically Adjusted PB Ratio too high?
Carlsberg Brewery Malaysia Bhd's current Cyclically Adjusted PB Ratio of 17.84 is 20% below median its 10-year median of 22.24. Over the past 10 years, this metric has ranged from a low of 17.85 to a high of 27.00. The Beverages - Alcoholic industry median Cyclically Adjusted PB Ratio is 1.49. Carlsberg Brewery Malaysia Bhd's value of 17.84 is 1097.3% above this industry median. Based on the distribution chart, Carlsberg Brewery Malaysia Bhd ranks #162 out of 169 companies in the Beverages - Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Carlsberg Brewery Malaysia Bhd has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Carlsberg Brewery Malaysia Bhd's Cyclically Adjusted PB Ratio compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Carlsberg Brewery Malaysia Bhd ranks #162 out of 169 companies for Cyclically Adjusted PB Ratio. This places Carlsberg Brewery Malaysia Bhd in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.49. Carlsberg Brewery Malaysia Bhd's value of 17.84 is 1097.3% above this benchmark. Historically, Carlsberg Brewery Malaysia Bhd's own Cyclically Adjusted PB Ratio has ranged from 17.85 to 27.00 over the past decade. While the company's 10-year median is 22.24 vs. the industry median of 1.49, Carlsberg Brewery Malaysia 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 Beverages - Alcoholic company?
The median Cyclically Adjusted PB Ratio among Beverages - Alcoholic companies is 1.49, based on 169 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. Carlsberg Brewery Malaysia Bhd's current Cyclically Adjusted PB Ratio of 17.84 is 1097.3% 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 Carlsberg Brewery Malaysia Bhd and its competitors. For the Beverages - Alcoholic industry, the median Cyclically Adjusted PB Ratio is 1.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Carlsberg Brewery Malaysia Bhd's current Cyclically Adjusted PB Ratio is 17.84, which is 20% below median its own 10-year median of 22.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Carlsberg Brewery Malaysia Bhd stock overvalued right now?
Based on GuruFocus' analysis, Carlsberg Brewery Malaysia Bhd (XKLS:2836) is currently considered Modestly Undervalued. The stock's GF Value™ is RM19.41, compared to a current price of RM15.88 — trading 18.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 17.84, which is 20% below median its 10-year median of 22.24 and 1097.3% above the Beverages - Alcoholic industry median of 1.49. Carlsberg Brewery Malaysia Bhd's overall GF Score™ is 81/100 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 Carlsberg Brewery Malaysia Bhd (XKLS:2836), the current Cyclically Adjusted PB Ratio is 17.84 as of Jul. 28, 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 Carlsberg Brewery Malaysia Bhd (XKLS:2836) Overvalued in 2026?
Based on GuruFocus' analysis, Carlsberg Brewery Malaysia Bhd stock appears to be undervalued.
The current stock price of RM15.88 is trading 18.2% below its estimated GF Value™ of RM19.41.
GuruFocus considers Carlsberg Brewery Malaysia Bhd to be Modestly Undervalued.
Key valuation signals for XKLS:2836:
Cyclically Adjusted PB Ratio: 17.84 (20% below median its 10-year median of 22.24)
GF Value™: RM19.41 vs. price of RM15.88 (18.2% below fair value)
Industry Position: 1097.3% above the Beverages - Alcoholic median (#162 of 169)
No single metric tells the full story. See the XKLS:2836 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Carlsberg Brewery Malaysia Bhd Business Description
Carlsberg Brewery Malaysia Bhd produces and sells beer, stout, cider, shandy, and nonalcoholic malt beverages in Asia. The company produces its products in Malaysia, and nearly all sales are in Malaysia and Singapore. The company also exports products to Sri Lanka, Thailand, Taiwan, and Hong Kong. Carlsberg is the company's flagship brand. Other brands include Kronenbourg 1664, Somersby Ciders, Asahi Dry, Royal Stout, Skol, Jolly Shandy, Nutrimalt, Connor's Stout Porter, and Corona Extra. The company has three segments: Malaysia, Singapore, and Others. It generates the majority of its revenue from the Malaysia segment, which includes manufacturing, marketing, and distribution of both alcoholic and non-alcoholic beverages by entities in Malaysia.
81GF Score
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