S P Setia Bhd (XKLS:8664) Cyclically Adjusted PB Ratio: 0.25 (As of Jul. 27, 2026) — 22% 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:8664 S P Setia Bhd XKLS:8664
55 GF Score
Price RM0.90
GF Value RM0.98
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is S P Setia Bhd Cyclically Adjusted PB Ratio?

S P Setia Bhd XKLS:8664 -1.10% 55 Cyclically Adjusted PB Ratio is 0.25 as of Jul. 27, 2026, which is 22% below its 10-year median of 0.32. GuruFocus rates XKLS:8664 with a GF Score™ of 55/100 and a GF Value™ of RM0.98 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,426 Real Estate companies, S P Setia Bhd ranks better than 78.54% on this metric.

As of today (2026-07-27), S P Setia Bhd's current share price is RM0.90. S P Setia Bhd's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was RM3.53. S P Setia Bhd's Cyclically Adjusted PB Ratio for today is 0.25.

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

XKLS:8664' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.13   Med: 0.32   Max: 0.91
Current: 0.25

During the past years, S P Setia Bhd's highest Cyclically Adjusted PB Ratio was 0.91. The lowest was 0.13. And the median was 0.32.

XKLS:8664's Cyclically Adjusted PB Ratio is ranked better than
78.54% of 1426 companies
in the Real Estate industry
Industry Median: 0.69 vs XKLS:8664: 0.25

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.

S P Setia Bhd's adjusted book value per share data for the three months ended in Mar. 2026 was RM2.669. 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 RM3.53 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


S P Setia Bhd  (XKLS:8664) 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.


S P Setia Bhd Cyclically Adjusted PB Ratio Related Terms


S P Setia Bhd Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for S P Setia 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.

S P Setia Bhd Cyclically Adjusted PB Ratio Chart

S P Setia Bhd 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 0.42 0.18 0.23 0.42 0.21

S P Setia 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 0.33 0.32 0.29 0.21 0.24

S P Setia Bhd Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Development subindustry, S P Setia 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.


S P Setia Bhd Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, S P Setia Bhd's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where S P Setia Bhd's Cyclically Adjusted PB Ratio falls into.


XKLS:8664
55GF Score
S P Setia Bhd XKLS:8664
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

S P Setia 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.

S P Setia Bhd's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.90/3.53
=0.25

* 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.

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

For example, S P Setia 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)
=2.669/330.2130*330.2130
=2.669

Current CPI (Mar. 2026) = 330.2130.

S P Setia Bhd Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.974 241.018 4.075
201609 2.721 241.428 3.722
201612 3.096 241.432 4.234
201703 3.024 243.801 4.096
201706 3.057 244.955 4.121
201709 2.998 246.819 4.011
201712 3.263 246.524 4.371
201803 3.237 249.554 4.283
201806 3.202 251.989 4.196
201809 3.230 252.439 4.225
201812 3.005 251.233 3.950
201903 3.060 254.202 3.975
201906 3.004 256.143 3.873
201909 2.994 256.759 3.851
201912 3.024 256.974 3.886
202003 2.990 258.115 3.825
202006 2.975 257.797 3.811
202009 2.890 260.280 3.666
202012 2.923 260.474 3.706
202103 2.930 264.877 3.653
202106 2.949 271.696 3.584
202109 2.909 274.310 3.502
202112 2.963 278.802 3.509
202203 2.955 287.504 3.394
202206 2.949 296.311 3.286
202209 2.939 296.808 3.270
202212 2.958 296.797 3.291
202303 2.953 301.836 3.231
202306 3.011 305.109 3.259
202309 2.984 307.789 3.201
202312 2.903 306.746 3.125
202403 2.850 312.332 3.013
202406 2.782 314.175 2.924
202409 2.696 315.301 2.824
202412 2.663 315.605 2.786
202503 2.645 319.799 2.731
202506 2.660 322.561 2.723
202509 2.662 324.800 2.706
202512 2.700 324.054 2.751
202603 2.669 330.213 2.669

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 0.25 mean?
S P Setia Bhd (XKLS:8664) has a Cyclically Adjusted PB Ratio of 0.25 as of Jul. 27, 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 S P Setia Bhd and its competitors. This is 22% below median its historical median of 0.32. Over the past decade, S P Setia Bhd's Cyclically Adjusted PB Ratio has ranged from 0.13 to 0.91. According to the industry distribution chart, S P Setia Bhd ranks #306 out of 1426 companies in the Real Estate industry, placing it in the top 21.5%.
Is S P Setia Bhd's Cyclically Adjusted PB Ratio too high?
S P Setia Bhd's current Cyclically Adjusted PB Ratio of 0.25 is 22% below median its 10-year median of 0.32. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 0.91. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.69. S P Setia Bhd's value of 0.25 is 63.8% below this industry median. Based on the distribution chart, S P Setia Bhd ranks #306 out of 1426 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, S P Setia Bhd has a GF Score™ of 55/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does S P Setia Bhd's Cyclically Adjusted PB Ratio compare to competitors?
According to the Real Estate industry distribution chart, S P Setia Bhd ranks #306 out of 1426 companies for Cyclically Adjusted PB Ratio. This places S P Setia Bhd in the top 22% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 0.69. S P Setia Bhd's value of 0.25 is 63.8% below this benchmark. Historically, S P Setia Bhd's own Cyclically Adjusted PB Ratio has ranged from 0.13 to 0.91 over the past decade. While the company's 10-year median is 0.32 vs. the industry median of 0.69, S P Setia Bhd 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 Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.69, based on 1,426 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. S P Setia Bhd's current Cyclically Adjusted PB Ratio of 0.25 is 63.8% 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 S P Setia Bhd and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. S P Setia Bhd's current Cyclically Adjusted PB Ratio is 0.25, which is 22% below median its own 10-year median of 0.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is S P Setia Bhd stock overvalued right now?
Based on GuruFocus' analysis, S P Setia Bhd (XKLS:8664) is currently considered Fairly Valued. The stock's GF Value™ is RM0.98, compared to a current price of RM0.90 — trading 8.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.25, which is 22% below median its 10-year median of 0.32 and 63.8% below the Real Estate industry median of 0.69. S P Setia Bhd's overall GF Score™ is 55/100 with 4 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 S P Setia Bhd (XKLS:8664), the current Cyclically Adjusted PB Ratio is 0.25 as of Jul. 27, 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 S P Setia Bhd (XKLS:8664) Overvalued in 2026?

Based on GuruFocus' analysis, S P Setia Bhd stock appears to be undervalued. The current stock price of RM0.90 is trading 8.2% below its estimated GF Value™ of RM0.98. GuruFocus considers S P Setia Bhd to be Fairly Valued.

Key valuation signals for XKLS:8664:

  • Cyclically Adjusted PB Ratio: 0.25 (22% below median its 10-year median of 0.32)
  • GF Value™: RM0.98 vs. price of RM0.90 (8.2% below fair value)
  • GF Score™: 55/100 with 4 warning signs
  • Industry Position: 63.8% below the Real Estate median (#306 of 1426)

No single metric tells the full story. See the XKLS:8664 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


S P Setia Bhd Business Description

Address 12, Persiaran Setia Dagang, Setia Alam, Seksyen U13, S P Setia Berhad Corporate HQ, Shah Alam, SGR, MYS, 40170
S P Setia Bhd is a general real estate company that reports in two segments: Property Development; and Construction, Investment Holding & others. The vast majority of the company's revenue is generated by its property development business, which focuses on developing residential and commercial facilities, followed by its construction segment. Its construction, investment holding & others segment focuses on construction, manufacturing, trading, and investing.
55GF Score

Get the complete analysis for XKLS:8664

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

RM0.90
Price
RM0.98
GF Value