Subaru Enterprise Co (TSE:9632) Cyclically Adjusted Book per Share: 円2,277.16 (As of Jan. 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.
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.

TSE:9632 Subaru Enterprise Co Ltd TSE:9632
71 GF Score
Price 円3,555.00
GF Value 円3,001.70
Valuation Modestly Overvalued
! 3 Warning Signs
View Full Analysis

What is Subaru Enterprise Co Cyclically Adjusted Book per Share?

Subaru Enterprise Co TSE:9632 -0.97% 71 Cyclically Adjusted Book per Share is 円2,277.16 as of Jan. 2026. GuruFocus rates TSE:9632 with a GF Score™ of 71/100 and a GF Value™ of 円3,001.70 (Modestly Overvalued). The stock has 3 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.

Subaru Enterprise Co's adjusted book value per share for the three months ended in Jan. 2026 was 円2,862.319. 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 円2,277.16 for the trailing ten years ended in Jan. 2026.

During the past 12 months, Subaru Enterprise Co's average Cyclically Adjusted Book Growth Rate was 7.80% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 8.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 8.90% 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 Subaru Enterprise Co was 9.60% per year. The lowest was 5.60% per year. And the median was 8.50% per year.

As of today (2026-07-25), Subaru Enterprise Co's current stock price is 円3555.00. Subaru Enterprise Co's Cyclically Adjusted Book per Share for the quarter that ended in Jan. 2026 was 円2,277.16. Subaru Enterprise Co's Cyclically Adjusted PB Ratio of today is 1.56.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Subaru Enterprise Co was 1.70. The lowest was 0.76. And the median was 1.10.


Subaru Enterprise Co  (TSE:9632) 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.

Subaru Enterprise Co's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=3555.00/2277.16
=1.56

* 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 Subaru Enterprise Co was 1.70. The lowest was 0.76. And the median was 1.10.


Be Aware

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


Subaru Enterprise Co Cyclically Adjusted Book per Share Related Terms


Subaru Enterprise Co Cyclically Adjusted Book per Share Historical Data

* Premium members only.

The historical data trend for Subaru Enterprise Co'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.

Subaru Enterprise Co Cyclically Adjusted Book per Share Chart

Subaru Enterprise Co Annual Data
Trend Jan17 Jan18 Jan19 Jan20 Jan21 Jan22 Jan23 Jan24 Jan25 Jan26
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,604.70 1,782.73 1,937.44 2,111.60 2,277.16

Subaru Enterprise Co Quarterly Data
Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 2,150.70 2,192.66 2,242.10 2,277.16 0.00

TSE:9632 vs CTAS, CPRT, ULS: Cyclically Adjusted Book per Share Comparison

For the Specialty Business Services subindustry, Subaru Enterprise Co'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.


Subaru Enterprise Co Cyclically Adjusted PB Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, Subaru Enterprise Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Subaru Enterprise Co's Cyclically Adjusted PB Ratio falls into.


TSE:9632
71GF Score
Subaru Enterprise Co Ltd TSE:9632
Cyclically Adjusted Book per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Subaru Enterprise Co 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, Subaru Enterprise Co's adjusted Book Value per Share data for the three months ended in Jan. 2026 was:

Adj_Book= Book Value per Share /CPI of Jan. 2026 (Change)*Current CPI (Jan. 2026)
=2862.319/112.9000*112.9000
=2,862.319

Current CPI (Jan. 2026) = 112.9000.

Subaru Enterprise Co Quarterly Data

Book Value per Share CPI Adj_Book
201601 1,367.565 97.700 1,580.328
201604 1,411.585 98.100 1,624.546
201607 1,426.812 97.900 1,645.425
201610 1,434.684 98.600 1,642.757
201701 1,466.435 98.200 1,685.952
201704 1,524.743 98.500 1,747.650
201707 1,558.348 98.300 1,789.802
201710 1,568.657 98.800 1,792.524
201801 1,603.640 99.500 1,819.608
201804 1,644.222 99.100 1,873.185
201807 1,669.464 99.200 1,900.025
201810 1,703.838 100.200 1,919.794
201901 1,723.202 99.700 1,951.349
201904 1,815.637 100.000 2,049.854
201907 1,869.465 99.800 2,114.856
201910 1,891.663 100.400 2,127.179
202001 1,932.412 100.500 2,170.839
202004 1,966.907 100.200 2,216.206
202007 2,015.513 100.000 2,275.514
202010 2,020.240 99.800 2,285.422
202101 2,059.325 99.800 2,329.637
202104 2,102.725 99.100 2,395.536
202107 2,145.676 99.700 2,429.757
202110 2,163.506 99.900 2,445.043
202201 2,224.099 100.300 2,503.497
202204 2,279.694 101.500 2,535.738
202207 2,338.670 102.300 2,580.996
202210 2,363.294 103.700 2,572.959
202301 2,418.589 104.700 2,608.010
202304 2,455.050 105.100 2,637.252
202307 2,510.199 105.700 2,681.187
202310 2,550.151 107.100 2,688.254
202401 2,596.940 106.900 2,742.699
202404 2,626.467 107.700 2,753.279
202407 2,677.518 108.600 2,783.534
202501 2,754.310 111.200 2,796.417
202504 2,809.571 111.500 2,844.848
202507 2,862.764 111.900 2,888.347
202510 2,791.865 112.800 2,794.340
202601 2,862.319 112.900 2,862.319

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 円2,277.16 mean?
Subaru Enterprise Co (TSE:9632) has a Cyclically Adjusted Book per Share of 円2,277.16 as of Jan. 2026. 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 Subaru Enterprise Co and its competitors.
Is Subaru Enterprise Co's Cyclically Adjusted Book per Share too high?
Subaru Enterprise Co's current Cyclically Adjusted Book per Share is 円2,277.16. Overall, Subaru Enterprise Co has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Subaru Enterprise Co's Cyclically Adjusted Book per Share compare to CTAS and CPRT?
Subaru Enterprise Co's Cyclically Adjusted Book per Share of 円2,277.16 can be compared against companies in the Business Services 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 a Business Services company?
A good Cyclically Adjusted Book per Share depends on the Business Services 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 Subaru Enterprise Co and its competitors. Subaru Enterprise Co's current Cyclically Adjusted Book per Share is 円2,277.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Subaru Enterprise Co stock overvalued right now?
Based on GuruFocus' analysis, Subaru Enterprise Co (TSE:9632) is currently considered Modestly Overvalued. The stock's GF Value™ is 円3,001.70, compared to a current price of 円3,555.00 — trading 18.4% above its estimated fair value. The current Cyclically Adjusted Book per Share is 円2,277.16. Subaru Enterprise Co's overall GF Score™ is 71/100 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 Book per Share calculated?
Cyclically Adjusted Book per Share is calculated from a company's financial statements. For Subaru Enterprise Co (TSE:9632), the current Cyclically Adjusted Book per Share is 円2,277.16 as of Jan. 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 Subaru Enterprise Co (TSE:9632) Overvalued in 2026?

Based on GuruFocus' analysis, Subaru Enterprise Co stock appears to be overvalued. The current stock price of 円3,555.00 is trading 18.4% above its estimated GF Value™ of 円3,001.70. GuruFocus considers Subaru Enterprise Co to be Modestly Overvalued.

Key valuation signals for TSE:9632:

  • Cyclically Adjusted Book per Share: 円2,277.16
  • GF Value™: 円3,001.70 vs. price of 円3,555.00 (18.4% above fair value)
  • GF Score™: 71/100 with 3 warning signs

No single metric tells the full story. See the TSE:9632 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Subaru Enterprise Co Business Description

Address 1-5-2 Yurakucho, 9th Floor, Toho Hibiya Promenade Building, Chiyoda-ku, Tokyo, JPN
Subaru Enterprise Co Ltd is a Japan-based company. Its business is divided into the following reportable segments: Road related business, Leisure business, and Real estate business. Road related business offers maintenance and cleaning of roads and road incidental facilities, contracting repair work, contracted operation of highway facilities, and photovoltaic power generation business. Leisure business involves customer service businesses such as food and beverage, and retail sales, as well as the management and operation of marinas, and the Real estate business is engaged in the real estate rental business. Maximum revenue for the group is generated from its Road related business.
71GF Score

Get the complete analysis for TSE:9632

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

円3,555.00
Price
円3,001.70
GF Value