IGB Bhd (XKLS:5606) Cyclically Adjusted PS Ratio: 2.91 (As of Jul. 24, 2026) — 85% Above 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:5606 IGB Bhd XKLS:5606
79 GF Score
Price RM2.36
GF Value RM1.82
Valuation Modestly Overvalued
! 4 Warning Signs
View Full Analysis

What is IGB Bhd Cyclically Adjusted PS Ratio?

IGB Bhd XKLS:5606 -0.42% 79 Cyclically Adjusted PS Ratio is 2.91 as of Jul. 24, 2026, which is 85% above its 10-year median of 1.57. GuruFocus rates XKLS:5606 with a GF Score™ of 79/100 and a GF Value™ of RM1.82 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,362 Real Estate companies, IGB Bhd ranks worse than 62.26% on this metric.

As of today (2026-07-24), IGB Bhd's current share price is RM2.36. IGB Bhd's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was RM0.81. IGB Bhd's Cyclically Adjusted PS Ratio for today is 2.91.

The historical rank and industry rank for IGB Bhd's Cyclically Adjusted PS Ratio or its related term are showing as below:

XKLS:5606' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.99   Med: 1.57   Max: 3.25
Current: 2.86

During the past years, IGB Bhd's highest Cyclically Adjusted PS Ratio was 3.25. The lowest was 0.99. And the median was 1.57.

XKLS:5606's Cyclically Adjusted PS Ratio is ranked worse than
62.26% of 1362 companies
in the Real Estate industry
Industry Median: 1.83 vs XKLS:5606: 2.86

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

IGB Bhd's adjusted revenue per share data for the three months ended in Mar. 2026 was RM0.254. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is RM0.81 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


IGB Bhd  (XKLS:5606) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


IGB Bhd Cyclically Adjusted PS Ratio Related Terms


IGB Bhd Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for IGB Bhd's Cyclically Adjusted PS 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.

IGB Bhd Cyclically Adjusted PS Ratio Chart

IGB Bhd Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.05 1.11 1.57 1.95 2.57

IGB 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 PS 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 1.98 2.11 2.39 2.57 2.96

XKLS:5606 vs CBRE, BEKE, JLL: Cyclically Adjusted PS Ratio Comparison

For the Real Estate Services subindustry, IGB Bhd's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


IGB Bhd Cyclically Adjusted PS Ratio vs Real Estate Industry

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

* The bar in red indicates where IGB Bhd's Cyclically Adjusted PS Ratio falls into.


XKLS:5606
79GF Score
IGB Bhd XKLS:5606
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

IGB Bhd Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS 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 PS Ratio.

IGB Bhd's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=2.36/0.81
=2.91

* 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.

IGB Bhd's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, IGB Bhd's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.254/330.2130*330.2130
=0.254

Current CPI (Mar. 2026) = 330.2130.

IGB Bhd Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.154 241.018 0.211
201609 0.188 241.428 0.257
201612 0.168 241.432 0.230
201703 0.151 243.801 0.205
201706 0.146 244.955 0.197
201709 0.153 246.819 0.205
201712 0.206 246.524 0.276
201803 0.141 249.554 0.187
201806 0.140 251.989 0.183
201809 0.168 252.439 0.220
201812 0.167 251.233 0.219
201903 0.158 254.202 0.205
201906 0.148 256.143 0.191
201909 0.173 256.759 0.222
201912 0.194 256.974 0.249
202003 0.156 258.115 0.200
202006 0.084 257.797 0.108
202009 0.137 260.280 0.174
202012 0.133 260.474 0.169
202103 0.110 264.877 0.137
202106 0.097 271.696 0.118
202109 0.100 274.310 0.120
202112 0.130 278.802 0.154
202203 0.136 287.504 0.156
202206 0.151 296.311 0.168
202209 0.155 296.808 0.172
202212 0.189 296.797 0.210
202303 0.195 301.836 0.213
202306 0.189 305.109 0.205
202309 0.195 307.789 0.209
202312 0.209 306.746 0.225
202403 0.206 312.332 0.218
202406 0.197 314.175 0.207
202409 0.210 315.301 0.220
202412 0.218 315.605 0.228
202503 0.251 319.799 0.259
202506 0.227 322.561 0.232
202509 0.231 324.800 0.235
202512 0.251 324.054 0.256
202603 0.254 330.213 0.254

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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 PS Ratio of 2.91 mean?
IGB Bhd (XKLS:5606) has a Cyclically Adjusted PS Ratio of 2.91 as of Jul. 24, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on IGB Bhd and its competitors. This is 85% above median its historical median of 1.57. Over the past decade, IGB Bhd's Cyclically Adjusted PS Ratio has ranged from 0.99 to 3.25. According to the industry distribution chart, IGB Bhd ranks #848 out of 1362 companies in the Real Estate industry, placing it in the top 62.3%.
Is IGB Bhd's Cyclically Adjusted PS Ratio too high?
IGB Bhd's current Cyclically Adjusted PS Ratio of 2.91 is 85% above median its 10-year median of 1.57. Over the past 10 years, this metric has ranged from a low of 0.99 to a high of 3.25. The Real Estate industry median Cyclically Adjusted PS Ratio is 1.83. IGB Bhd's value of 2.91 is 59% above this industry median. Based on the distribution chart, IGB Bhd ranks #848 out of 1362 companies in the Real Estate industry, which is below the industry midpoint. Overall, IGB Bhd has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IGB Bhd's Cyclically Adjusted PS Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, IGB Bhd ranks #848 out of 1362 companies for Cyclically Adjusted PS Ratio. This places IGB Bhd in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.83. IGB Bhd's value of 2.91 is 59% above this benchmark. Historically, IGB Bhd's own Cyclically Adjusted PS Ratio has ranged from 0.99 to 3.25 over the past decade. While the company's 10-year median is 1.57 vs. the industry median of 1.83, IGB Bhd 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 PS Ratio for a Real Estate company?
The median Cyclically Adjusted PS Ratio among Real Estate companies is 1.83, based on 1,362 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. IGB Bhd's current Cyclically Adjusted PS Ratio of 2.91 is 59% 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 PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on IGB Bhd and its competitors. For the Real Estate industry, the median Cyclically Adjusted PS Ratio is 1.83 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IGB Bhd's current Cyclically Adjusted PS Ratio is 2.91, which is 85% above median its own 10-year median of 1.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IGB Bhd stock overvalued right now?
Based on GuruFocus' analysis, IGB Bhd (XKLS:5606) is currently considered Modestly Overvalued. The stock's GF Value™ is RM1.82, compared to a current price of RM2.36 — trading 29.7% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.91, which is 85% above median its 10-year median of 1.57 and 59% above the Real Estate industry median of 1.83. IGB Bhd's overall GF Score™ is 79/100 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 PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For IGB Bhd (XKLS:5606), the current Cyclically Adjusted PS Ratio is 2.91 as of Jul. 24, 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 IGB Bhd (XKLS:5606) Overvalued in 2026?

Based on GuruFocus' analysis, IGB Bhd stock appears to be overvalued. The current stock price of RM2.36 is trading 29.7% above its estimated GF Value™ of RM1.82. GuruFocus considers IGB Bhd to be Modestly Overvalued.

Key valuation signals for XKLS:5606:

  • Cyclically Adjusted PS Ratio: 2.91 (85% above median its 10-year median of 1.57)
  • GF Value™: RM1.82 vs. price of RM2.36 (29.7% above fair value)
  • GF Score™: 79/100 with 4 warning signs
  • Industry Position: 59% above the Real Estate median (#848 of 1362)

No single metric tells the full story. See the XKLS:5606 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


IGB Bhd Business Description

Address Lingkaran Syed Putra, Level 32, The Gardens South Tower, Mid Valley City, Kuala Lumpur, MYS, 59200
IGB Bhd is an investment holding company that engages in the provision of management services in Malaysia. It operates through the following segments which includes Property investment- retail, Property investment- commercial, Hotel segment, Property development segment, and construction. It makes the majority of the revenue from the Property investment- retail segment. The company also provides hotel management, building and maintenance, and exhibition services; owns and operates malls, and educational institutions.
79GF Score

Get the complete analysis for XKLS:5606

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

RM2.36
Price
RM1.82
GF Value