Tehnika DD (ZAG:THNK) Cyclically Adjusted PB Ratio: (As of Aug. 21, 2026)

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.
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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.

ZAG:THNK Tehnika DD ZAG:THNK
54 GF Score
Price €17.30
GF Value €30.70
Valuation Possible Value Trap
! 5 Warning Signs
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What is Tehnika DD Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Tehnika DD  (ZAG:THNK) 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.


Tehnika DD Cyclically Adjusted PB Ratio Related Terms


Tehnika DD Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Tehnika DD'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.

Tehnika DD Cyclically Adjusted PB Ratio Chart

Tehnika DD 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 1.16 1.22 0.22 0.36 2.67

Tehnika DD 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 0.73 1.16 2.67 8.30 0.00

ZAG:THNK vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Tehnika DD'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.


Tehnika DD Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Tehnika DD's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Tehnika DD's Cyclically Adjusted PB Ratio falls into.


ZAG:THNK
54GF Score
Tehnika DD ZAG:THNK
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Tehnika DD 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.

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

For example, Tehnika DD'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)
=-58.468/333.9520*333.9520
=-58.468

Current CPI (Jun. 2026) = 333.9520.

Tehnika DD Quarterly Data

Book Value per Share CPI Adj_Book
201609 213.596 241.428 295.454
201612 225.053 241.432 311.296
201703 224.431 243.801 307.419
201706 223.032 244.955 304.064
201709 219.559 246.819 297.069
201712 140.979 246.524 190.976
201803 235.388 249.554 314.995
201806 199.596 251.989 264.517
201809 141.064 252.439 186.614
201812 -42.043 251.233 -55.886
201903 -4.282 254.202 -5.625
201906 -51.612 256.143 -67.290
201909 -61.910 256.759 -80.523
201912 -98.293 256.974 -127.737
202003 -83.266 258.115 -107.730
202006 -78.090 257.797 -101.158
202009 -80.489 260.280 -103.271
202012 -115.415 260.474 -147.973
202103 -116.723 264.877 -147.162
202106 -59.734 271.696 -73.421
202109 -66.154 274.310 -80.538
202112 -73.080 278.802 -87.536
202203 -73.612 287.504 -85.504
202206 -74.814 296.311 -84.318
202209 -86.112 296.808 -96.888
202212 -97.037 296.797 -109.185
202303 -83.074 301.836 -91.913
202306 -77.106 305.109 -84.395
202309 -80.654 307.789 -87.510
202312 -79.691 306.746 -86.759
202403 -76.931 312.332 -82.256
202406 -73.878 314.175 -78.529
202409 -80.995 315.301 -85.786
202412 -87.926 315.605 -93.037
202503 -93.846 319.799 -97.999
202506 -89.277 322.561 -92.430
202509 -95.548 324.800 -98.240
202512 -75.144 324.054 -77.439
202603 -74.904 330.213 -75.752
202606 -58.468 333.952 -58.468

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 Tehnika DD (ZAG:THNK) Overvalued in 2026?

Based on GuruFocus' analysis, Tehnika DD stock appears to be undervalued. The current stock price of €17.30 is trading 43.6% below its estimated GF Value™ of €30.70. GuruFocus considers Tehnika DD to be Possible Value Trap.

Key valuation signals for ZAG:THNK:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €30.70 vs. price of €17.30 (43.6% below fair value)
  • GF Score™: 54/100 with 5 warning signs

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


Tehnika DD Business Description

Address Ulica grada Vukovara 274, Zagreb, HRV, 10000
Tehnika DD operates in the engineering and construction industry in Croatia. The company is engaged in constructing high-rise buildings for business and public, residential architecture, educational facilities, catering facilities, hotels, and industrial facilities.
54GF Score

Get the complete analysis for ZAG:THNK

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

€17.30
Price
€30.70
GF Value