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.
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.
The historical rank and industry rank for Komercijalna Banka AD Skopje's Cyclically Adjusted PB Ratio or its related term are showing as below:
XMAE:KMB'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.26 Med: 3.52 Max: 4.29
Current: 3.38
During the past 13 years, Komercijalna Banka AD Skopje's highest Cyclically Adjusted PB Ratio was 4.29. The lowest was 2.26. And the median was 3.52.
XMAE:KMB's Cyclically Adjusted PB Ratio is ranked worse than 94.1% of 1288
companies
in the Banks industry
Industry Median: 1.26
vs XMAE:KMB: 3.38
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.
Komercijalna Banka AD Skopje's adjusted book value per share data of for the fiscal year that ended in Dec25 was MKD10,181.682. 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 MKD7,777.55 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Komercijalna Banka AD Skopje (XMAE:KMB) 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.
Komercijalna Banka AD Skopje Cyclically Adjusted PB Ratio Related Terms
Komercijalna Banka AD Skopje 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.
Komercijalna Banka AD Skopje Cyclically Adjusted PB Ratio Chart
XMAE:KMB vs PNC, USB: Cyclically Adjusted PB Ratio Comparison
For the Banks - Regional subindustry, Komercijalna Banka AD Skopje'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.
Komercijalna Banka AD Skopje Cyclically Adjusted PB Ratio vs Banks Industry
For the Banks industry and Financial Services sector, Komercijalna Banka AD Skopje's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Komercijalna Banka AD Skopje's Cyclically Adjusted PB Ratio falls into.
Komercijalna Banka AD Skopje 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 3.38 mean?
Komercijalna Banka AD Skopje (XMAE:KMB) has a Cyclically Adjusted PB Ratio of 3.38 as of Aug. 01, 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 Komercijalna Banka AD Skopje and its competitors. This is near median its historical median of 3.52. Over the past decade, Komercijalna Banka AD Skopje's Cyclically Adjusted PB Ratio has ranged from 2.26 to 4.29. According to the industry distribution chart, Komercijalna Banka AD Skopje ranks #1212 out of 1288 companies in the Banks industry, placing it in the top 94.1%.
Is Komercijalna Banka AD Skopje's Cyclically Adjusted PB Ratio too high?
Komercijalna Banka AD Skopje's current Cyclically Adjusted PB Ratio of 3.38 is near median its 10-year median of 3.52. Over the past 10 years, this metric has ranged from a low of 2.26 to a high of 4.29. The Banks industry median Cyclically Adjusted PB Ratio is 1.26. Komercijalna Banka AD Skopje's value of 3.38 is 168.3% above this industry median. Based on the distribution chart, Komercijalna Banka AD Skopje ranks #1212 out of 1288 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Komercijalna Banka AD Skopje has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Komercijalna Banka AD Skopje's Cyclically Adjusted PB Ratio compare to PNC and USB?
According to the Banks industry distribution chart, Komercijalna Banka AD Skopje ranks #1212 out of 1288 companies for Cyclically Adjusted PB Ratio. This places Komercijalna Banka AD Skopje in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.26. Komercijalna Banka AD Skopje's value of 3.38 is 168.3% above this benchmark. Historically, Komercijalna Banka AD Skopje's own Cyclically Adjusted PB Ratio has ranged from 2.26 to 4.29 over the past decade. While the company's 10-year median is 3.52 vs. the industry median of 1.26, Komercijalna Banka AD Skopje 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 Banks company?
The median Cyclically Adjusted PB Ratio among Banks companies is 1.26, based on 1,288 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. Komercijalna Banka AD Skopje's current Cyclically Adjusted PB Ratio of 3.38 is 168.3% 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 Komercijalna Banka AD Skopje and its competitors. For the Banks industry, the median Cyclically Adjusted PB Ratio is 1.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Komercijalna Banka AD Skopje's current Cyclically Adjusted PB Ratio is 3.38, which is near median its own 10-year median of 3.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Komercijalna Banka AD Skopje stock overvalued right now?
Based on GuruFocus' analysis, Komercijalna Banka AD Skopje (XMAE:KMB) is currently considered Modestly Undervalued. The stock's GF Value™ is MKD29,531.09, compared to a current price of MKD26,300.00 — trading 10.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.38, which is near median its 10-year median of 3.52 and 168.3% above the Banks industry median of 1.26. Komercijalna Banka AD Skopje's overall GF Score™ is 70/100 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 Komercijalna Banka AD Skopje (XMAE:KMB), the current Cyclically Adjusted PB Ratio is 3.38 as of Aug. 01, 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 Komercijalna Banka AD Skopje (XMAE:KMB) Overvalued in 2026?
Based on GuruFocus' analysis, Komercijalna Banka AD Skopje stock appears to be undervalued.
The current stock price of MKD26,300.00 is trading 10.9% below its estimated GF Value™ of MKD29,531.09.
GuruFocus considers Komercijalna Banka AD Skopje to be Modestly Undervalued.
Key valuation signals for XMAE:KMB:
Cyclically Adjusted PB Ratio: 3.38 (near median its 10-year median of 3.52)
GF Value™: MKD29,531.09 vs. price of MKD26,300.00 (10.9% below fair value)
Industry Position: 168.3% above the Banks median (#1212 of 1288)
No single metric tells the full story. See the XMAE:KMB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Komercijalna Banka AD Skopje is a commercial bank. The principal activities of the bank are - collecting deposits, placing loans and advances domestically and abroad, factoring and financing commercial transactions, foreign exchange operations, fast money transfer, trading with foreign currencies, trading with securities, services of a bank-custodian of investment and pension funds, intermediating in selling insurance policies, data collection and analysis of company's credit rating, and many others. It operates in the Republic of Macedonia, Europe, and other EU member countries.
70GF Score
Get the complete analysis for XMAE:KMB
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XMAE:KMB has been successfully added to your 
