Okamura (FRA:X4O) Cyclically Adjusted PB Ratio: (As of Sep. 01, 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.
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:X4O Okamura Corp FRA:X4O
81 GF Score
Price €12.60
GF Value €12.65
! 3 Warning Signs
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What is Okamura Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Okamura  (FRA:X4O) 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.


Okamura Cyclically Adjusted PB Ratio Related Terms


Okamura Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Okamura'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.

Okamura Cyclically Adjusted PB Ratio Chart

Okamura 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 1.12 1.15 1.74 1.37 1.59

Okamura 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 1.51 1.57 1.50 1.59 1.44

Okamura Cyclically Adjusted PB Ratio Competitor Comparison

For the Business Equipment & Supplies subindustry, Okamura'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.


Okamura Cyclically Adjusted PB Ratio vs Industrial Products Industry

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

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


FRA:X4O
81GF Score
Okamura Corp FRA:X4O
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Okamura 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.

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

For example, Okamura'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)
=11.65/333.9520*333.9520
=11.650

Current CPI (Jun. 2026) = 333.9520.

Okamura Quarterly Data

Book Value per Share CPI Adj_Book
201609 8.589 241.428 11.881
201612 8.152 241.432 11.276
201703 8.546 243.801 11.706
201706 8.439 244.955 11.505
201709 8.125 246.819 10.993
201712 8.162 246.524 11.057
201803 8.694 249.554 11.634
201806 8.924 251.989 11.827
201809 9.062 252.439 11.988
201812 8.820 251.233 11.724
201903 9.393 254.202 12.340
201906 9.585 256.143 12.497
201909 10.057 256.759 13.081
201912 9.954 256.974 12.936
202003 10.248 258.115 13.259
202006 10.143 257.797 13.139
202009 10.156 260.280 13.031
202012 10.435 260.474 13.379
202103 10.677 264.877 13.461
202106 10.358 271.696 12.731
202109 10.865 274.310 13.227
202112 10.866 278.802 13.015
202203 11.175 287.504 12.980
202206 10.397 296.311 11.718
202209 10.556 296.808 11.877
202212 10.546 296.797 11.866
202303 11.130 301.836 12.314
202306 10.812 305.109 11.834
202309 10.806 307.789 11.725
202312 10.761 306.746 11.715
202403 11.183 312.332 11.957
202406 10.722 314.175 11.397
202409 11.495 315.301 12.175
202412 11.282 315.605 11.938
202503 12.140 319.799 12.677
202506 11.688 322.561 12.101
202509 11.532 324.800 11.857
202512 11.080 324.054 11.418
202603 11.753 330.213 11.886
202606 11.650 333.952 11.650

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 Okamura (FRA:X4O) Overvalued in 2026?

Based on GuruFocus' analysis, Okamura stock appears to be undervalued. The current stock price of €12.60 is trading 0.4% below its estimated GF Value™ of €12.65.

Key valuation signals for FRA:X4O:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €12.65 vs. price of €12.60 (0.4% below fair value)
  • GF Score™: 81/100 with 3 warning signs

No single metric tells the full story. See the FRA:X4O stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Okamura Business Description

Other Exchanges OKAMF:USA7994:Japan
Address Bldg 19, No. 1, No. 4 Tenri Kitasaiwai 1-chome, Nishi-ku, Yokohama, JPN, 220-0004
Okamura Corp is a Japanese manufacturer that operates through three segments. The office furniture segment provides office seating, desks, storage, filing supplies, room furniture, and fixtures. The store displays segment comprises products including display fixtures for food and stores, checkout facilities, and showcases. The material handling systems and others segment consists of automated warehouse, conveyor systems, sorting systems, shelves, and equipment for plants and warehouses. Combined, the office furniture and store displays segments contribute the majority of group sales. Okamura's products are manufactured both in Japan and overseas and are delivered across the world by its distribution network.
81GF Score

Get the complete analysis for FRA:X4O

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

€12.60
Price
€12.65
GF Value