Kirin Holdings Co (FRA:KIR) Cyclically Adjusted PB Ratio: 2.33 (As of Jul. 28, 2026) — 14% 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.

FRA:KIR Kirin Holdings Co Ltd FRA:KIR
72 GF Score
Price €15.66
GF Value €12.85
Valuation Modestly Overvalued
! 9 Warning Signs
View Full Analysis

What is Kirin Holdings Co Cyclically Adjusted PB Ratio?

Kirin Holdings Co FRA:KIR +2.22% 72 Cyclically Adjusted PB Ratio is 2.33 as of Jul. 28, 2026, which is 14% above its 10-year median of 2.05. GuruFocus rates FRA:KIR with a GF Score™ of 72/100 and a GF Value™ of €12.85 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 169 Beverages - Alcoholic companies, Kirin Holdings Co ranks worse than 68.05% on this metric.

As of today (2026-07-28), Kirin Holdings Co's current share price is €15.655. Kirin Holdings Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €6.73. Kirin Holdings Co's Cyclically Adjusted PB Ratio for today is 2.33.

The historical rank and industry rank for Kirin Holdings Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

FRA:KIR' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.59   Med: 2.05   Max: 3.1
Current: 2.35

During the past years, Kirin Holdings Co's highest Cyclically Adjusted PB Ratio was 3.10. The lowest was 1.59. And the median was 2.05.

FRA:KIR's Cyclically Adjusted PB Ratio is ranked worse than
68.05% of 169 companies
in the Beverages - Alcoholic industry
Industry Median: 1.49 vs FRA:KIR: 2.35

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.

Kirin Holdings Co's adjusted book value per share data for the three months ended in Mar. 2026 was €8.902. 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 €6.73 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Kirin Holdings Co  (FRA:KIR) 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.


Kirin Holdings Co Cyclically Adjusted PB Ratio Related Terms


Kirin Holdings Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kirin Holdings 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.

Kirin Holdings Co Cyclically Adjusted PB Ratio Chart

Kirin Holdings Co 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 1.83 1.89 1.88 1.77 1.92

Kirin Holdings Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.78 1.71 1.82 1.92 2.04

FRA:KIR vs STZ, TAP: Cyclically Adjusted PB Ratio Comparison

For the Beverages - Brewers subindustry, Kirin Holdings 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.


Kirin Holdings Co Cyclically Adjusted PB Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Kirin Holdings Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:KIR
72GF Score
Kirin Holdings Co Ltd FRA:KIR
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kirin Holdings 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.

Kirin Holdings Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=15.655/6.73
=2.33

* 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.

Kirin Holdings Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Kirin Holdings Co's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=8.902/112.7000*112.7000
=8.902

Current CPI (Mar. 2026) = 112.7000.

Kirin Holdings Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 5.797 98.100 6.660
201609 5.730 98.000 6.590
201612 6.324 98.400 7.243
201703 6.555 98.100 7.531
201706 7.584 98.500 8.677
201709 7.407 98.800 8.449
201712 7.765 99.400 8.804
201803 7.974 99.200 9.059
201806 8.120 99.200 9.225
201809 7.982 99.900 9.005
201812 8.089 99.700 9.144
201903 7.723 99.700 8.730
201906 8.288 99.800 9.359
201909 8.463 100.100 9.528
201912 8.609 100.500 9.654
202003 7.819 100.300 8.786
202006 8.005 99.900 9.031
202009 7.970 99.900 8.991
202012 7.967 99.300 9.042
202103 8.030 99.900 9.059
202106 7.889 99.500 8.936
202109 7.980 100.100 8.984
202112 8.340 100.100 9.390
202203 8.597 101.100 9.583
202206 8.421 101.800 9.323
202209 8.954 103.100 9.788
202212 8.447 104.100 9.145
202303 8.366 104.400 9.031
202306 8.521 105.200 9.128
202309 8.686 106.200 9.218
202312 8.907 106.800 9.399
202403 8.815 107.200 9.267
202406 9.375 108.200 9.765
202409 9.108 108.900 9.426
202412 9.057 110.700 9.221
202503 8.466 111.100 8.588
202506 8.308 111.700 8.382
202509 8.320 112.000 8.372
202512 8.701 113.000 8.678
202603 8.902 112.700 8.902

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.

What does a Cyclically Adjusted PB Ratio of 2.33 mean?
Kirin Holdings Co (FRA:KIR) has a Cyclically Adjusted PB Ratio of 2.33 as of Jul. 28, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Kirin Holdings Co and its competitors. This is 14% above median its historical median of 2.05. Over the past decade, Kirin Holdings Co's Cyclically Adjusted PB Ratio has ranged from 1.59 to 3.10. According to the industry distribution chart, Kirin Holdings Co ranks #115 out of 169 companies in the Beverages - Alcoholic industry, placing it in the top 68%.
Is Kirin Holdings Co's Cyclically Adjusted PB Ratio too high?
Kirin Holdings Co's current Cyclically Adjusted PB Ratio of 2.33 is 14% above median its 10-year median of 2.05. Over the past 10 years, this metric has ranged from a low of 1.59 to a high of 3.10. The Beverages - Alcoholic industry median Cyclically Adjusted PB Ratio is 1.49. Kirin Holdings Co's value of 2.33 is 56.4% above this industry median. Based on the distribution chart, Kirin Holdings Co ranks #115 out of 169 companies in the Beverages - Alcoholic industry, which is below the industry midpoint. Overall, Kirin Holdings Co has a GF Score™ of 72/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kirin Holdings Co's Cyclically Adjusted PB Ratio compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, Kirin Holdings Co ranks #115 out of 169 companies for Cyclically Adjusted PB Ratio. This places Kirin Holdings Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.49. Kirin Holdings Co's value of 2.33 is 56.4% above this benchmark. Historically, Kirin Holdings Co's own Cyclically Adjusted PB Ratio has ranged from 1.59 to 3.10 over the past decade. While the company's 10-year median is 2.05 vs. the industry median of 1.49, Kirin Holdings Co 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 PB Ratio for a Beverages - Alcoholic company?
The median Cyclically Adjusted PB Ratio among Beverages - Alcoholic companies is 1.49, based on 169 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Kirin Holdings Co's current Cyclically Adjusted PB Ratio of 2.33 is 56.4% 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 PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on Kirin Holdings Co and its competitors. For the Beverages - Alcoholic industry, the median Cyclically Adjusted PB Ratio is 1.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kirin Holdings Co's current Cyclically Adjusted PB Ratio is 2.33, which is 14% above median its own 10-year median of 2.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kirin Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Kirin Holdings Co (FRA:KIR) is currently considered Modestly Overvalued. The stock's GF Value™ is €12.85, compared to a current price of €15.66 — trading 21.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.33, which is 14% above median its 10-year median of 2.05 and 56.4% above the Beverages - Alcoholic industry median of 1.49. Kirin Holdings Co's overall GF Score™ is 72/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Kirin Holdings Co (FRA:KIR), the current Cyclically Adjusted PB Ratio is 2.33 as of Jul. 28, 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 Kirin Holdings Co (FRA:KIR) Overvalued in 2026?

Based on GuruFocus' analysis, Kirin Holdings Co stock appears to be overvalued. The current stock price of €15.66 is trading 21.8% above its estimated GF Value™ of €12.85. GuruFocus considers Kirin Holdings Co to be Modestly Overvalued.

Key valuation signals for FRA:KIR:

  • Cyclically Adjusted PB Ratio: 2.33 (14% above median its 10-year median of 2.05)
  • GF Value™: €12.85 vs. price of €15.66 (21.8% above fair value)
  • GF Score™: 72/100 with 9 warning signs
  • Industry Position: 56.4% above the Beverages - Alcoholic median (#115 of 169)

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


Kirin Holdings Co Business Description

Address 10-2 Nakano 4-chome, Nakano Central Park South, Nakano-ku, Tokyo, JPN, 164-0001
Kirin is the second-largest brewer in Japan with a 28% market share. It holds a top share in the happoshu (low-malt beer) and new genre (no-malt beer) categories. Apart from beer, it also operates a wide range of alcoholic and soft beverage products in Japan. It has made several acquisitions, including Lion Nathan and National Foods in Australia, the second-largest Brazilian brewer Schincariol and Myanmar's biggest brewer over the past decade. It sold the businesses in Brazil and Myanmar in 2017 and 2023, respectively. In 2023, the company made a tender offer to bring Fancl on as a wholly owned subsidiary. Its revenue accounts for roughly 5% of Kirin's total sales. Its overseas business, which includes alcoholic and nonalcoholic beverages, represents about 40% of the group's revenue.
72GF Score

Get the complete analysis for FRA:KIR

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

€15.66
Price
€12.85
GF Value