Aoyama Trading Co (FRA:9B7) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

FRA:9B7 Aoyama Trading Co Ltd FRA:9B7
70 GF Score
Price €4.16
GF Value €3.57
! 4 Warning Signs
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What is Aoyama Trading Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation

Aoyama Trading Co  (FRA:9B7) 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.

Aoyama Trading Co Cyclically Adjusted PB Ratio Related Terms

Aoyama Trading Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Aoyama Trading Co'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.

Aoyama Trading Co Cyclically Adjusted PB Ratio Chart

Aoyama Trading Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.15 0.19 0.30 0.39 0.42

Aoyama Trading Co 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 0.38 0.41 0.40 0.39 0.33

FRA:9B7 vs TJX, ROST, BURL: Cyclically Adjusted PB Ratio Comparison

For the Apparel Retail subindustry, Aoyama Trading 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.

Aoyama Trading Co Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Aoyama Trading Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:9B7
70GF Score
Aoyama Trading Co Ltd FRA:9B7
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Aoyama Trading Co 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.

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

For example, Aoyama Trading Co'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)
=6.758/113.6000*113.6000
=6.758

Current CPI (Jun. 2026) = 113.6000.

Aoyama Trading Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 12.653 98.000 14.667
201612 11.837 98.400 13.665
201703 12.579 98.100 14.567
201706 11.605 98.500 13.384
201709 11.188 98.800 12.864
201712 11.092 99.400 12.677
201803 11.638 99.200 13.327
201806 11.533 99.200 13.207
201809 11.211 99.900 12.748
201812 11.632 99.700 13.254
201903 12.030 99.700 13.707
201906 11.781 99.800 13.410
201909 36.426 100.100 41.339
201912 11.519 100.500 13.020
202003 11.261 100.300 12.754
202006 10.559 99.900 12.007
202009 9.948 99.900 11.312
202012 9.739 99.300 11.141
202103 8.481 99.900 9.644
202106 8.220 99.500 9.385
202109 8.116 100.100 9.211
202112 8.135 100.100 9.232
202203 8.150 101.100 9.158
202206 7.753 101.800 8.652
202209 7.659 103.100 8.439
202212 7.757 104.100 8.465
202303 7.864 104.400 8.557
202306 7.257 105.200 7.836
202309 7.227 106.200 7.731
202312 7.424 106.800 7.897
202403 7.398 107.200 7.840
202406 6.922 108.200 7.267
202409 7.395 108.900 7.714
202412 7.350 110.700 7.543
202503 7.716 111.100 7.890
202506 7.216 111.700 7.339
202509 7.005 112.000 7.105
202512 6.634 113.000 6.669
202603 6.662 112.700 6.715
202606 6.758 113.600 6.758

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 Aoyama Trading Co (FRA:9B7) Overvalued in 2026?

Based on GuruFocus' analysis, Aoyama Trading Co stock appears to be overvalued. The current stock price of €4.16 is trading 16.5% above its estimated GF Value™ of €3.57.

Key valuation signals for FRA:9B7:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €3.57 vs. price of €4.16 (16.5% above fair value)
  • GF Score™: 70/100 with 4 warning signs

No single metric tells the full story. See the FRA:9B7 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Aoyama Trading Co Business Description

Other Exchanges 8219:Japan
Address 1-3-5 Ojimachi, Hiroshima Prefecture, Fukuyama, JPN, 721-8556
Aoyama Trading Co Ltd is an apparel retailer specializing in business wear. Men's business wear accounts for roughly two thirds of the company's total sales, while women's business wear accounts for roughly 10%. Business wear stores include Yofuku-no-Aoyama, which is the company's primary brand and has nearly 800 locations; The Suit Company; and Next Blue. Other business segments include casual wear, with store brands including Universal Language and Calaja; credit cards; printing and media; and total repair service, which includes the company's Mister Minit stores, providing repair services such as shoe repair and key duplication. Aoyama's sales are primarily in Japan, but the firm has business throughout the Asia-Pacific region.
70GF Score

Get the complete analysis for FRA:9B7

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

€4.16
Price
€3.57
GF Value