Bertam Alliance Bhd (XKLS:9814) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:9814 Bertam Alliance Bhd XKLS:9814
51 GF Score
Price RM0.13
GF Value RM0.09
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Bertam Alliance Bhd Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Bertam Alliance Bhd  (XKLS:9814) 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.


Bertam Alliance Bhd Cyclically Adjusted PB Ratio Related Terms


Bertam Alliance Bhd Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Bertam Alliance 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.

Bertam Alliance Bhd Cyclically Adjusted PB Ratio Chart

Bertam Alliance 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 0.10 0.07 0.18 0.21 0.17

Bertam Alliance Bhd 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 0.18 0.16 0.15 0.20 0.19

XKLS:9814 vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, Bertam Alliance 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.


Bertam Alliance Bhd Cyclically Adjusted PB Ratio vs Real Estate Industry

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

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


XKLS:9814
51GF Score
Bertam Alliance Bhd XKLS:9814
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bertam Alliance 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.

Bertam Alliance Bhd's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Bertam Alliance Bhd'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)
=0.318/333.9520*333.9520
=0.318

Current CPI (Jun. 2026) = 333.9520.

Bertam Alliance Bhd Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.654 241.428 0.905
201612 0.583 241.432 0.806
201703 0.876 243.801 1.200
201706 0.871 244.955 1.187
201709 0.862 246.819 1.166
201712 0.838 246.524 1.135
201803 0.832 249.554 1.113
201806 0.839 251.989 1.112
201809 0.835 252.439 1.105
201812 0.755 251.233 1.004
201903 0.750 254.202 0.985
201906 0.749 256.143 0.977
201909 0.746 256.759 0.970
201912 0.691 256.974 0.898
202003 0.691 258.115 0.894
202006 0.631 257.797 0.817
202009 0.629 260.280 0.807
202012 0.475 260.474 0.609
202103 0.473 264.877 0.596
202106 0.403 271.696 0.495
202109 0.402 274.310 0.489
202112 0.392 278.802 0.470
202203 0.391 287.504 0.454
202206 0.392 296.311 0.442
202209 0.394 296.808 0.443
202212 0.444 296.797 0.500
202303 0.446 301.836 0.493
202306 0.458 305.109 0.501
202309 0.459 307.789 0.498
202312 0.446 306.746 0.486
202403 0.467 312.332 0.499
202406 0.360 314.175 0.383
202409 0.311 315.301 0.329
202412 0.312 315.605 0.330
202503 0.313 319.799 0.327
202506 0.313 322.561 0.324
202509 0.313 324.800 0.322
202512 0.315 324.054 0.325
202603 0.316 330.213 0.320
202606 0.318 333.952 0.318

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 Bertam Alliance Bhd (XKLS:9814) Overvalued in 2026?

Based on GuruFocus' analysis, Bertam Alliance Bhd stock appears to be overvalued. The current stock price of RM0.13 is trading 44.4% above its estimated GF Value™ of RM0.09. GuruFocus considers Bertam Alliance Bhd to be Significantly Overvalued.

Key valuation signals for XKLS:9814:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: RM0.09 vs. price of RM0.13 (44.4% above fair value)
  • GF Score™: 51/100 with 3 warning signs

No single metric tells the full story. See the XKLS:9814 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bertam Alliance Bhd Business Description

Address No.1 Medan Syed Putra Utara, B-21-1, Level 21, Tower B, Northpoint Mid Valley City, Wilayah Persekutuan, Kuala Lumpur, SGR, MYS, 59200
Bertam Alliance Bhd is principally involved in property development and the provision of construction management services. The Group operates through three segments namely Property development, Construction and trading of building materials, and Corporate and others. The Property development segment is engaged in developing properties for sale and/or holding properties for own investment purpose. The Construction and trading of building materials segment, which generates maximum revenue, is engaged in performing general construction works and the supply of building materials. The Corporate and others segment includes holding of investments and provision of management services to its subsidiaries. The Group mainly operates in Malaysia.
51GF Score

Get the complete analysis for XKLS:9814

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

RM0.13
Price
RM0.09
GF Value