GungHo Online Entertainment (STU:G03) Cyclically Adjusted Book per Share: €8.65 (As of Dec. 2025)

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.

STU:G03 GungHo Online Entertainment Inc STU:G03
73 GF Score
Price €12.20
GF Value €14.28
! 5 Warning Signs
View Full Analysis

What is GungHo Online Entertainment Cyclically Adjusted Book per Share?

GungHo Online Entertainment STU:G03 -2.40% 73 Cyclically Adjusted Book per Share is €8.65 as of Dec. 2025. GuruFocus rates STU:G03 with a GF Score™ of 73/100 and a GF Value™ of €14.28. The stock has 5 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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.

GungHo Online Entertainment's adjusted book value per share for the three months ended in Dec. 2025 was €12.399. 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 €8.65 for the trailing ten years ended in Dec. 2025.

During the past 12 months, GungHo Online Entertainment's average Cyclically Adjusted Book Growth Rate was 10.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 13.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 17.10% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of GungHo Online Entertainment was 21.70% per year. The lowest was 13.50% per year. And the median was 20.85% per year.

As of today (2026-07-21), GungHo Online Entertainment's current stock price is €12.20. GungHo Online Entertainment's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was €8.65. GungHo Online Entertainment's Cyclically Adjusted PB Ratio of today is 1.41.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of GungHo Online Entertainment was 9.20. The lowest was 1.34. And the median was 2.49.


GungHo Online Entertainment  (STU:G03) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

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.

GungHo Online Entertainment's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=12.20/8.65
=1.41

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of GungHo Online Entertainment was 9.20. The lowest was 1.34. And the median was 2.49.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


GungHo Online Entertainment Cyclically Adjusted Book per Share Related Terms


GungHo Online Entertainment Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for GungHo Online Entertainment's Cyclically Adjusted Book per Share 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.

GungHo Online Entertainment Cyclically Adjusted Book per Share Chart

GungHo Online Entertainment Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.83 7.72 8.45 8.74 8.65

GungHo Online Entertainment Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Book per Share 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 9.13 8.94 8.94 8.65 0.00

STU:G03 vs NTES, EA, TTWO: Cyclically Adjusted Book per Share Comparison

For the Electronic Gaming & Multimedia subindustry, GungHo Online Entertainment'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.


GungHo Online Entertainment Cyclically Adjusted PB Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, GungHo Online Entertainment's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where GungHo Online Entertainment's Cyclically Adjusted PB Ratio falls into.


STU:G03
73GF Score
GungHo Online Entertainment Inc STU:G03
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

GungHo Online Entertainment Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and 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.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, GungHo Online Entertainment's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book= Book Value per Share /CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=12.399/113.0000*113.0000
=12.399

Current CPI (Dec. 2025) = 113.0000.

GungHo Online Entertainment Quarterly Data

Book Value per Share CPI Adj_Book
201603 7.752 97.900 8.948
201606 8.890 98.100 10.240
201609 3.528 98.000 4.068
201612 4.515 98.400 5.185
201703 5.055 98.100 5.823
201706 5.579 98.500 6.400
201709 5.903 98.800 6.751
201712 6.318 99.400 7.182
201803 6.670 99.200 7.598
201806 7.164 99.200 8.161
201809 7.374 99.900 8.341
201812 8.213 99.700 9.309
201903 9.052 99.700 10.260
201906 9.509 99.800 10.767
201909 10.203 100.100 11.518
201912 10.155 100.500 11.418
202003 10.380 100.300 11.694
202006 10.772 99.900 12.185
202009 10.922 99.900 12.354
202012 11.379 99.300 12.949
202103 11.655 99.900 13.183
202106 12.103 99.500 13.745
202109 12.804 100.100 14.454
202112 13.201 100.100 14.902
202203 12.829 101.100 14.339
202206 12.316 101.800 13.671
202209 12.679 103.100 13.896
202212 13.382 104.100 14.526
202303 13.598 104.400 14.718
202306 13.373 105.200 14.365
202309 13.378 106.200 14.235
202312 13.691 106.800 14.486
202403 13.529 107.200 14.261
202406 13.416 108.200 14.011
202409 14.333 108.900 14.873
202412 14.323 110.700 14.621
202503 13.791 111.100 14.027
202506 13.523 111.700 13.680
202509 13.047 112.000 13.163
202512 12.399 113.000 12.399

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

What does a Cyclically Adjusted Book per Share of €8.65 mean?
GungHo Online Entertainment (STU:G03) has a Cyclically Adjusted Book per Share of €8.65 as of Dec. 2025. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on GungHo Online Entertainment and its competitors.
Is GungHo Online Entertainment's Cyclically Adjusted Book per Share too high?
GungHo Online Entertainment's current Cyclically Adjusted Book per Share is €8.65. Overall, GungHo Online Entertainment has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.
How does GungHo Online Entertainment's Cyclically Adjusted Book per Share compare to NTES and EA?
GungHo Online Entertainment's Cyclically Adjusted Book per Share of €8.65 can be compared against companies in the Interactive Media industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Book per Share for an Interactive Media company?
A good Cyclically Adjusted Book per Share depends on the Interactive Media industry context. However, Cyclically Adjusted Book per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Book per Share mean?
A high Cyclically Adjusted Book per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted book value per share represents the company's inflation-adjusted book value per share over a 10-year period. View historical data on GungHo Online Entertainment and its competitors. GungHo Online Entertainment's current Cyclically Adjusted Book per Share is €8.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GungHo Online Entertainment stock overvalued right now?
GungHo Online Entertainment (STU:G03) has a current Cyclically Adjusted Book per Share of €8.65. The stock's GF Value™ is €14.28, compared to a current price of €12.20 — trading 14.6% below its estimated fair value. The current Cyclically Adjusted Book per Share is €8.65. GungHo Online Entertainment's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For GungHo Online Entertainment (STU:G03), the current Cyclically Adjusted Book per Share is €8.65 as of Dec. 2025. 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 GungHo Online Entertainment (STU:G03) Overvalued in 2026?

Based on GuruFocus' analysis, GungHo Online Entertainment stock appears to be undervalued. The current stock price of €12.20 is trading 14.6% below its estimated GF Value™ of €14.28.

Key valuation signals for STU:G03:

  • Cyclically Adjusted Book per Share: €8.65
  • GF Value™: €14.28 vs. price of €12.20 (14.6% below fair value)
  • GF Score™: 73/100 with 5 warning signs

No single metric tells the full story. See the STU:G03 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


GungHo Online Entertainment Business Description

Other Exchanges GUNGF:USA3765:Japan
Address 1-11-1, Pacific Century Place Marunouchi, Marunouchi, Chiyodaku, Tokyo, JPN, 100-6221
GungHo Online Entertainment Inc is a Japanese company that plans, develops, publishes, and distributes online video games. Its portfolio includes games for smartphones, PCs, consoles, and handheld gaming devices. The company operates across several business segments, including the operation and distribution of smartphone games; the planning, development, and sale of console games; and the planning, development, licensing, and distribution of PC online games. Additionally, it is involved in the development and delivery of games for smartphones, consoles, and portable gaming platforms.
73GF Score

Get the complete analysis for STU:G03

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

€12.20
Price
€14.28
GF Value