AmFirst Real Estate Investment Trust (XKLS:5120) Cyclically Adjusted PB Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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:5120 AmFirst Real Estate Investment Trust XKLS:5120
44 GF Score
Price RM0.35
GF Value RM0.34
Valuation Fairly Valued
! 5 Warning Signs
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What is AmFirst Real Estate Investment Trust Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


AmFirst Real Estate Investment Trust  (XKLS:5120) 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.


AmFirst Real Estate Investment Trust Cyclically Adjusted PB Ratio Related Terms


AmFirst Real Estate Investment Trust Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for AmFirst Real Estate Investment Trust'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.

AmFirst Real Estate Investment Trust Cyclically Adjusted PB Ratio Chart

AmFirst Real Estate Investment Trust Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.27 0.23 0.22 0.20 0.21

AmFirst Real Estate Investment Trust 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 0.20 0.22 0.22 0.21 0.22

XKLS:5120 vs VICI, WPC, BNL: Cyclically Adjusted PB Ratio Comparison

For the REIT - Diversified subindustry, AmFirst Real Estate Investment Trust'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.


AmFirst Real Estate Investment Trust Cyclically Adjusted PB Ratio vs REITs Industry

For the REITs industry and Real Estate sector, AmFirst Real Estate Investment Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where AmFirst Real Estate Investment Trust's Cyclically Adjusted PB Ratio falls into.


XKLS:5120
44GF Score
AmFirst Real Estate Investment Trust XKLS:5120
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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AmFirst Real Estate Investment Trust 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.

AmFirst Real Estate Investment Trust's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, AmFirst Real Estate Investment Trust'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)
=1.211/333.9520*333.9520
=1.211

Current CPI (Jun. 2026) = 333.9520.

AmFirst Real Estate Investment Trust Quarterly Data

Book Value per Share CPI Adj_Book
201609 1.267 241.428 1.753
201612 1.262 241.432 1.746
201703 1.263 243.801 1.730
201706 1.251 244.955 1.706
201709 1.262 246.819 1.708
201712 1.255 246.524 1.700
201803 1.237 249.554 1.655
201806 1.227 251.989 1.626
201809 1.238 252.439 1.638
201812 1.229 251.233 1.634
201903 1.230 254.202 1.616
201906 1.219 256.143 1.589
201909 1.228 256.759 1.597
201912 1.219 256.974 1.584
202003 1.225 258.115 1.585
202006 1.216 257.797 1.575
202009 1.225 260.280 1.572
202012 1.222 260.474 1.567
202103 1.200 264.877 1.513
202106 1.193 271.696 1.466
202109 1.197 274.310 1.457
202112 1.195 278.802 1.431
202203 1.183 287.504 1.374
202206 1.169 296.311 1.318
202209 1.171 296.808 1.318
202212 1.164 296.797 1.310
202303 1.173 301.836 1.298
202306 1.161 305.109 1.271
202309 1.166 307.789 1.265
202312 1.160 306.746 1.263
202403 1.186 312.332 1.268
202406 1.179 314.175 1.253
202409 1.183 315.301 1.253
202412 1.179 315.605 1.248
202503 1.200 319.799 1.253
202506 322.561 0.000
202509 1.198 324.800 1.232
202512 1.193 324.054 1.229
202603 1.218 330.213 1.232
202606 1.211 333.952 1.211

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 AmFirst Real Estate Investment Trust (XKLS:5120) Overvalued in 2026?

Based on GuruFocus' analysis, AmFirst Real Estate Investment Trust stock appears to be overvalued. The current stock price of RM0.35 is trading 1.5% above its estimated GF Value™ of RM0.34. GuruFocus considers AmFirst Real Estate Investment Trust to be Fairly Valued.

Key valuation signals for XKLS:5120:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: RM0.34 vs. price of RM0.35 (1.5% above fair value)
  • GF Score™: 44/100 with 5 warning signs

No single metric tells the full story. See the XKLS:5120 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


AmFirst Real Estate Investment Trust Business Description

Industry Real EstateREITs
Address Jalan Stadium SS 7/15, SS 7, Suite 101-2, Level 1, Tower 2, Wisma AmFIRST, Petaling Jaya, SGR, MYS, 47301
AmFirst Real Estate Investment Trust is engaged mainly in owning and investing in real estate and related assets, through the ownership of single-purpose companies whose principal assets comprise of real estate and real estate-related assets. It owns a portfolio of almost nine commercial properties in majority growth areas of Malaysia, majorly in the Klang Valley.
44GF Score

Get the complete analysis for XKLS:5120

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

RM0.35
Price
RM0.34
GF Value