Tsumura (FRA:TSUA) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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.
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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:TSUA Tsumura & Co FRA:TSUA
85 GF Score
Price €20.40
GF Value €22.70
! 4 Warning Signs
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What is Tsumura Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Tsumura  (FRA:TSUA) 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.


Tsumura Cyclically Adjusted PB Ratio Related Terms


Tsumura Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Tsumura'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.

Tsumura Cyclically Adjusted PB Ratio Chart

Tsumura 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 - - - - 0.75

Tsumura 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 - - - 0.77 0.75

FRA:TSUA vs ZTS: Cyclically Adjusted PB Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Tsumura'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.


Tsumura Cyclically Adjusted PB Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Tsumura's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FRA:TSUA
85GF Score
Tsumura & Co FRA:TSUA
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Tsumura 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.

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

For example, Tsumura'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)
=27.35/113.6000*113.6000
=27.350

Current CPI (Jun. 2026) = 113.6000.

Tsumura Quarterly Data

Book Value per Share CPI Adj_Book
201609 18.932 98.000 21.946
201612 18.146 98.400 20.949
201703 19.201 98.100 22.235
201706 17.982 98.500 20.739
201709 17.249 98.800 19.833
201712 18.899 99.400 21.599
201803 19.653 99.200 22.506
201806 19.990 99.200 22.892
201809 19.955 99.900 22.692
201812 21.201 99.700 24.157
201903 21.694 99.700 24.719
201906 22.011 99.800 25.055
201909 22.945 100.100 26.039
201912 22.336 100.500 25.247
202003 23.613 100.300 26.744
202006 22.911 99.900 26.053
202009 23.651 99.900 26.894
202012 23.543 99.300 26.933
202103 23.467 99.900 26.685
202106 23.827 99.500 27.203
202109 24.829 100.100 28.178
202112 24.901 100.100 28.259
202203 24.981 101.100 28.070
202206 24.762 101.800 27.632
202209 25.692 103.100 28.309
202212 25.999 104.100 28.372
202303 24.647 104.400 26.819
202306 23.311 105.200 25.172
202309 24.085 106.200 25.763
202312 25.128 106.800 26.728
202403 23.799 107.200 25.220
202406 23.495 108.200 24.668
202409 26.718 108.900 27.871
202412 25.757 110.700 26.432
202503 26.983 111.100 27.590
202506 25.207 111.700 25.636
202509 25.310 112.000 25.672
202512 24.677 113.000 24.808
202603 27.195 112.700 27.412
202606 27.350 113.600 27.350

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 Tsumura (FRA:TSUA) Overvalued in 2026?

Based on GuruFocus' analysis, Tsumura stock appears to be undervalued. The current stock price of €20.40 is trading 10.1% below its estimated GF Value™ of €22.70.

Key valuation signals for FRA:TSUA:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €22.70 vs. price of €20.40 (10.1% below fair value)
  • GF Score™: 85/100 with 4 warning signs

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


Tsumura Business Description

Other Exchanges 4540:Japan
Address 2-17-11 Akasaka, Minato-ku, Tokyo, JPN, 107-8521
Tsumura & Co is a specialty and generic drug manufacturing company. The company generates the majority of its revenue through prescription Kampo products, followed by over-the-counter medicines. It promotes its products through educational support at medical schools and by hosting seminars for physicians and consumers. The company specializes in developing, producing, and marketing Kampo formulations that integrate traditional herbal knowledge with modern pharmaceutical science to address various health conditions.
85GF Score

Get the complete analysis for FRA:TSUA

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

€20.40
Price
€22.70
GF Value