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.
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.
The historical rank and industry rank for Nippon Coke & Engineering Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
FRA:NJ2'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.36 Med: 0.65 Max: 1.11
Current: 0.52
During the past years, Nippon Coke & Engineering Co's highest Cyclically Adjusted PB Ratio was 1.11. The lowest was 0.36. And the median was 0.65.
FRA:NJ2's Cyclically Adjusted PB Ratio is ranked better than 69.8% of 510
companies
in the Steel industry
Industry Median: 0.925
vs FRA:NJ2: 0.52
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.
Nippon Coke & Engineering Co's adjusted book value per share data for the three months ended in Mar. 2026 was €0.652. 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 €0.97 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Nippon Coke & Engineering Co (FRA:NJ2) 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.
Nippon Coke & Engineering Co Cyclically Adjusted PB Ratio Related Terms
Nippon Coke & Engineering Co Cyclically Adjusted PB Ratio Historical Data
* 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.
Nippon Coke & Engineering Co Cyclically Adjusted PB Ratio Chart
FRA:NJ2 vs HCC, AMR: Cyclically Adjusted PB Ratio Comparison
For the Coking Coal subindustry, Nippon Coke & Engineering 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.
Nippon Coke & Engineering Co Cyclically Adjusted PB Ratio vs Steel Industry
For the Steel industry and Basic Materials sector, Nippon Coke & Engineering Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Nippon Coke & Engineering Co's Cyclically Adjusted PB Ratio falls into.
Nippon Coke & Engineering 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.
* 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.
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 0.51 mean?
Nippon Coke & Engineering Co (FRA:NJ2) has a Cyclically Adjusted PB Ratio of 0.51 as of Jul. 27, 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 Nippon Coke & Engineering Co and its competitors. This is 22% below median its historical median of 0.65. Over the past decade, Nippon Coke & Engineering Co's Cyclically Adjusted PB Ratio has ranged from 0.36 to 1.11. According to the industry distribution chart, Nippon Coke & Engineering Co ranks #154 out of 510 companies in the Steel industry, placing it in the top 30.2%.
Is Nippon Coke & Engineering Co's Cyclically Adjusted PB Ratio too high?
Nippon Coke & Engineering Co's current Cyclically Adjusted PB Ratio of 0.51 is 22% below median its 10-year median of 0.65. Over the past 10 years, this metric has ranged from a low of 0.36 to a high of 1.11. The Steel industry median Cyclically Adjusted PB Ratio is 0.93. Nippon Coke & Engineering Co's value of 0.51 is 44.9% below this industry median. Based on the distribution chart, Nippon Coke & Engineering Co ranks #154 out of 510 companies in the Steel industry, which is above the industry midpoint. Overall, Nippon Coke & Engineering Co has a GF Score™ of 51/100, reflecting its overall financial health beyond just this single metric.
How does Nippon Coke & Engineering Co's Cyclically Adjusted PB Ratio compare to HCC and AMR?
According to the Steel industry distribution chart, Nippon Coke & Engineering Co ranks #154 out of 510 companies for Cyclically Adjusted PB Ratio. This puts Nippon Coke & Engineering Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.93. Nippon Coke & Engineering Co's value of 0.51 is 44.9% below this benchmark. Historically, Nippon Coke & Engineering Co's own Cyclically Adjusted PB Ratio has ranged from 0.36 to 1.11 over the past decade. While the company's 10-year median is 0.65 vs. the industry median of 0.93, Nippon Coke & Engineering Co has consistently been below 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 Steel company?
The median Cyclically Adjusted PB Ratio among Steel companies is 0.93, based on 510 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. Nippon Coke & Engineering Co's current Cyclically Adjusted PB Ratio of 0.51 is 44.9% below 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 Nippon Coke & Engineering Co and its competitors. For the Steel industry, the median Cyclically Adjusted PB Ratio is 0.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nippon Coke & Engineering Co's current Cyclically Adjusted PB Ratio is 0.51, which is 22% below median its own 10-year median of 0.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nippon Coke & Engineering Co stock overvalued right now?
Nippon Coke & Engineering Co (FRA:NJ2) has a current Cyclically Adjusted PB Ratio of 0.51. The stock's GF Value™ is €0.38, compared to a current price of €0.49 — trading 30% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.51, which is 22% below median its 10-year median of 0.65 and 44.9% below the Steel industry median of 0.93. Nippon Coke & Engineering Co's overall GF Score™ is 51/100 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 PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For Nippon Coke & Engineering Co (FRA:NJ2), the current Cyclically Adjusted PB Ratio is 0.51 as of Jul. 27, 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 Nippon Coke & Engineering Co (FRA:NJ2) Overvalued in 2026?
Based on GuruFocus' analysis, Nippon Coke & Engineering Co stock appears to be overvalued.
The current stock price of €0.49 is trading 30% above its estimated GF Value™ of €0.38.
Key valuation signals for FRA:NJ2:
Cyclically Adjusted PB Ratio: 0.51 (22% below median its 10-year median of 0.65)
GF Value™: €0.38 vs. price of €0.49 (30% above fair value)
Industry Position: 44.9% below the Steel median (#154 of 510)
No single metric tells the full story. See the FRA:NJ2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nippon Coke & Engineering Co Ltd is engaged in the business of production and supply of coal and coke. The company also focuses on the sale and production of powder and granule-related equipment and machinery. In addition, it is involved in resource recycling, and logistics businesses; and property rental activity. Business is functioned through Japan and it derives the majority of its revenue from the coal and coke segment.
51GF Score
Get the complete analysis for FRA:NJ2
Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:NJ2 has been successfully added to your 
