Tsubakimoto Chain Co (FRA:TSB) Cyclically Adjusted PB Ratio: 1.27 (As of Jul. 22, 2026) — 28% 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:TSB Tsubakimoto Chain Co FRA:TSB
82 GF Score
Price €13.80
GF Value €11.65
Valuation Modestly Overvalued
! 5 Warning Signs
View Full Analysis

What is Tsubakimoto Chain Co Cyclically Adjusted PB Ratio?

Tsubakimoto Chain Co FRA:TSB 82 Cyclically Adjusted PB Ratio is 1.27 as of Jul. 22, 2026, which is 28% above its 10-year median of 0.99. GuruFocus rates FRA:TSB with a GF Score™ of 82/100 and a GF Value™ of €11.65 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,285 Industrial Products companies, Tsubakimoto Chain Co ranks better than 67.22% on this metric.

As of today (2026-07-22), Tsubakimoto Chain Co's current share price is €13.80. Tsubakimoto Chain Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was €10.89. Tsubakimoto Chain Co's Cyclically Adjusted PB Ratio for today is 1.27.

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

FRA:TSB' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.6   Med: 0.99   Max: 1.74
Current: 1.28

During the past years, Tsubakimoto Chain Co's highest Cyclically Adjusted PB Ratio was 1.74. The lowest was 0.60. And the median was 0.99.

FRA:TSB's Cyclically Adjusted PB Ratio is ranked better than
67.22% of 2285 companies
in the Industrial Products industry
Industry Median: 2.12 vs FRA:TSB: 1.28

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.

Tsubakimoto Chain Co's adjusted book value per share data for the three months ended in Mar. 2026 was €15.529. 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 €10.89 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Tsubakimoto Chain Co  (FRA:TSB) 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.


Tsubakimoto Chain Co Cyclically Adjusted PB Ratio Related Terms


Tsubakimoto Chain Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Tsubakimoto Chain 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.

Tsubakimoto Chain Co Cyclically Adjusted PB Ratio Chart

Tsubakimoto Chain 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 0.74 0.70 1.02 0.99 1.14

Tsubakimoto Chain 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 0.99 0.94 1.11 1.16 1.14

FRA:TSB vs GEV, ETN, PH: Cyclically Adjusted PB Ratio Comparison

For the Specialty Industrial Machinery subindustry, Tsubakimoto Chain 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.


Tsubakimoto Chain Co Cyclically Adjusted PB Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Tsubakimoto Chain Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:TSB
82GF Score
Tsubakimoto Chain Co FRA:TSB
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tsubakimoto Chain 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.

Tsubakimoto Chain Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=13.80/10.89
=1.27

* 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.

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

For example, Tsubakimoto Chain 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)
=15.529/112.7000*112.7000
=15.529

Current CPI (Mar. 2026) = 112.7000.

Tsubakimoto Chain Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 10.319 98.100 11.855
201609 10.752 98.000 12.365
201612 10.644 98.400 12.191
201703 11.249 98.100 12.923
201706 11.149 98.500 12.756
201709 10.917 98.800 12.453
201712 11.133 99.400 12.623
201803 11.308 99.200 12.847
201806 11.607 99.200 13.187
201809 11.810 99.900 13.323
201812 11.956 99.700 13.515
201903 12.183 99.700 13.772
201906 12.502 99.800 14.118
201909 13.084 100.100 14.731
201912 13.074 100.500 14.661
202003 13.200 100.300 14.832
202006 12.840 99.900 14.485
202009 12.638 99.900 14.257
202012 12.587 99.300 14.286
202103 12.929 99.900 14.586
202106 12.914 99.500 14.627
202109 13.534 100.100 15.238
202112 13.884 100.100 15.632
202203 14.325 101.100 15.969
202206 13.816 101.800 15.295
202209 14.249 103.100 15.576
202212 14.051 104.100 15.212
202303 14.113 104.400 15.235
202306 13.875 105.200 14.864
202309 14.155 106.200 15.021
202312 14.321 106.800 15.112
202403 14.753 107.200 15.510
202406 14.571 108.200 15.177
202409 15.298 108.900 15.832
202412 15.549 110.700 15.830
202503 15.720 111.100 15.946
202506 15.010 111.700 15.144
202509 15.023 112.000 15.117
202512 14.823 113.000 14.784
202603 15.529 112.700 15.529

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 1.27 mean?
Tsubakimoto Chain Co (FRA:TSB) has a Cyclically Adjusted PB Ratio of 1.27 as of Jul. 22, 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 Tsubakimoto Chain Co and its competitors. This is 28% above median its historical median of 0.99. Over the past decade, Tsubakimoto Chain Co's Cyclically Adjusted PB Ratio has ranged from 0.60 to 1.74. According to the industry distribution chart, Tsubakimoto Chain Co ranks #749 out of 2285 companies in the Industrial Products industry, placing it in the top 32.8%.
Is Tsubakimoto Chain Co's Cyclically Adjusted PB Ratio too high?
Tsubakimoto Chain Co's current Cyclically Adjusted PB Ratio of 1.27 is 28% above median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.60 to a high of 1.74. The Industrial Products industry median Cyclically Adjusted PB Ratio is 2.12. Tsubakimoto Chain Co's value of 1.27 is 40.1% below this industry median. Based on the distribution chart, Tsubakimoto Chain Co ranks #749 out of 2285 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Tsubakimoto Chain Co has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tsubakimoto Chain Co's Cyclically Adjusted PB Ratio compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Tsubakimoto Chain Co ranks #749 out of 2285 companies for Cyclically Adjusted PB Ratio. This puts Tsubakimoto Chain Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.12. Tsubakimoto Chain Co's value of 1.27 is 40.1% below this benchmark. Historically, Tsubakimoto Chain Co's own Cyclically Adjusted PB Ratio has ranged from 0.60 to 1.74 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 2.12, Tsubakimoto Chain 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 an Industrial Products company?
The median Cyclically Adjusted PB Ratio among Industrial Products companies is 2.12, based on 2,285 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. Tsubakimoto Chain Co's current Cyclically Adjusted PB Ratio of 1.27 is 40.1% 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 Tsubakimoto Chain Co and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PB Ratio is 2.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tsubakimoto Chain Co's current Cyclically Adjusted PB Ratio is 1.27, which is 28% above median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tsubakimoto Chain Co stock overvalued right now?
Based on GuruFocus' analysis, Tsubakimoto Chain Co (FRA:TSB) is currently considered Modestly Overvalued. The stock's GF Value™ is €11.65, compared to a current price of €13.80 — trading 18.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.27, which is 28% above median its 10-year median of 0.99 and 40.1% below the Industrial Products industry median of 2.12. Tsubakimoto Chain Co's overall GF Score™ is 82/100 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 Tsubakimoto Chain Co (FRA:TSB), the current Cyclically Adjusted PB Ratio is 1.27 as of Jul. 22, 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 Tsubakimoto Chain Co (FRA:TSB) Overvalued in 2026?

Based on GuruFocus' analysis, Tsubakimoto Chain Co stock appears to be overvalued. The current stock price of €13.80 is trading 18.5% above its estimated GF Value™ of €11.65. GuruFocus considers Tsubakimoto Chain Co to be Modestly Overvalued.

Key valuation signals for FRA:TSB:

  • Cyclically Adjusted PB Ratio: 1.27 (28% above median its 10-year median of 0.99)
  • GF Value™: €11.65 vs. price of €13.80 (18.5% above fair value)
  • GF Score™: 82/100 with 5 warning signs
  • Industry Position: 40.1% below the Industrial Products median (#749 of 2285)

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


Tsubakimoto Chain Co Business Description

Other Exchanges 6371:Japan
Address Nakanoshima Mitsui Building, 6F, 3-3-3, Nakanoshima, Kita-ku, Osaka, JPN, 530-0005
Tsubakimoto Chain Co. is a Japan-based company that is engaged in manufacturing and sales of various variable speed drives, handling equipment and other related products and services. The company operates through four divisions. The Chain operation supplies chain products, including drive chains and conveyor chains. The Automotive Parts operation provides automotive timing drive systems, timing belts, long belts and others. The Power Transmission Unites and Component operation provides reducers, variable speed drives, motion control units and others. The Materials Handling Systems operation supplies sorting systems, conveyance systems, storage and picking systems and others. The company generates most of its revenue from Japan, America and Europe.
82GF Score

Get the complete analysis for FRA:TSB

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

€13.80
Price
€11.65
GF Value