Fuji P.S (FSE:1848) Cyclically Adjusted PB Ratio: 1.07 (As of Sep. 16, 2026) — 12% Below Median

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Director of Data and Quant Analytics at GuruFocus
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FSE:1848 Fuji P.S Corp FSE:1848
60 GF Score
Price 円595.00
GF Value 円426.24
! 8 Warning Signs
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What is Fuji P.S Cyclically Adjusted PB Ratio?

Fuji P.S FSE:1848 60 Cyclically Adjusted PB Ratio is 1.07 as of Sep. 16, 2026, which is 12% below its 10-year median of 1.21. GuruFocus rates FSE:1848 with a GF Score™ of 60/100 and a GF Value™ of 円426.24. The stock has 8 warning signs investors should review. Among 1,239 Construction companies, Fuji P.S ranks worse than 56.17% on this metric.

As of today (2026-09-16), Fuji P.S's current share price is 円595.00. Fuji P.S's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円555.26. Fuji P.S's Cyclically Adjusted PB Ratio for today is 1.07.

The historical rank and industry rank for Fuji P.S's Cyclically Adjusted PB Ratio or its related term are showing as below:

FSE:1848' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.8   Med: 1.21   Max: 2.56
Current: 1.37

During the past years, Fuji P.S's highest Cyclically Adjusted PB Ratio was 2.56. The lowest was 0.80. And the median was 1.21.

FSE:1848's Cyclically Adjusted PB Ratio is ranked worse than
56.17% of 1239 companies
in the Construction industry
Industry Median: 1.14 vs FSE:1848: 1.37

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.

Fuji P.S's adjusted book value per share data for the three months ended in Mar. 2026 was 円744.003. 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 円555.26 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Fuji P.S  (FSE:1848) 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.


Fuji P.S Cyclically Adjusted PB Ratio Related Terms


Fuji P.S Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Fuji P.S'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.

Fuji P.S Cyclically Adjusted PB Ratio Chart

Fuji P.S 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 1.16 1.05 0.92 0.84 1.02

Fuji P.S Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 0.86 0.84 0.82 1.07 1.05

FSE:1848 vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Fuji P.S'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.


Fuji P.S Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, Fuji P.S's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


FSE:1848
60GF Score
Fuji P.S Corp FSE:1848
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fuji P.S 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.

Fuji P.S's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=595.00/555.259
=1.07

* 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.

Fuji P.S's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Fuji P.S'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)
=744.003/112.7000*112.7000
=744.003

Current CPI (Mar. 2026) = 112.7000.

Fuji P.S Quarterly Data

Book Value per Share CPI Adj_Book
201603 359.276 97.900 413.589
201606 343.042 98.100 394.096
201609 348.065 98.000 400.275
201612 362.060 98.400 414.676
201703 383.278 98.100 440.320
201706 378.481 98.500 433.044
201709 407.656 98.800 465.008
201712 409.180 99.400 463.929
201803 417.024 99.200 473.776
201806 395.806 99.200 449.671
201809 403.820 99.900 455.561
201812 420.805 99.700 475.674
201903 438.231 99.700 495.372
201906 432.536 99.800 488.445
201909 440.153 100.100 495.557
201912 450.309 100.500 504.973
202003 462.417 100.300 519.585
202006 463.626 99.900 523.030
202009 485.881 99.900 548.136
202012 504.490 99.300 572.568
202103 525.228 99.900 592.524
202106 541.731 99.500 613.599
202109 546.708 100.100 615.524
202112 549.582 100.100 618.760
202203 553.858 101.100 617.406
202206 554.653 101.800 614.041
202209 550.821 103.100 602.110
202212 547.610 104.100 592.850
202303 559.379 104.400 603.851
202306 548.901 105.200 588.034
202309 544.821 106.200 578.167
202312 553.651 106.800 584.237
202403 585.313 107.200 615.343
202406 567.374 108.200 590.971
202409 568.805 108.900 588.653
202503 697.209 111.100 707.250
202506 694.657 111.700 700.876
202509 714.527 112.000 718.993
202512 715.263 113.000 713.364
202603 744.003 112.700 744.003

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 1.07 mean?
Fuji P.S (FSE:1848) has a Cyclically Adjusted PB Ratio of 1.07 as of Sep. 16, 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 Fuji P.S and its competitors. This is 12% below median its historical median of 1.21. Over the past decade, Fuji P.S's Cyclically Adjusted PB Ratio has ranged from 0.80 to 2.56. According to the industry distribution chart, Fuji P.S ranks #696 out of 1239 companies in the Construction industry, placing it in the top 56.2%.
Is Fuji P.S's Cyclically Adjusted PB Ratio too high?
Fuji P.S's current Cyclically Adjusted PB Ratio of 1.07 is 12% below median its 10-year median of 1.21. Over the past 10 years, this metric has ranged from a low of 0.80 to a high of 2.56. The Construction industry median Cyclically Adjusted PB Ratio is 1.14. Fuji P.S's value of 1.07 is 6.1% below this industry median. Based on the distribution chart, Fuji P.S ranks #696 out of 1239 companies in the Construction industry, which is below the industry midpoint. Overall, Fuji P.S has a GF Score™ of 60/100, reflecting its overall financial health beyond just this single metric.
How does Fuji P.S's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, Fuji P.S ranks #696 out of 1239 companies for Cyclically Adjusted PB Ratio. This places Fuji P.S in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.14. Fuji P.S's value of 1.07 is 6.1% below this benchmark. Historically, Fuji P.S's own Cyclically Adjusted PB Ratio has ranged from 0.80 to 2.56 over the past decade. While the company's 10-year median is 1.21 vs. the industry median of 1.14, Fuji P.S 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 Construction company?
The median Cyclically Adjusted PB Ratio among Construction companies is 1.14, based on 1,239 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. Fuji P.S's current Cyclically Adjusted PB Ratio of 1.07 is 6.1% 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 Fuji P.S and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fuji P.S's current Cyclically Adjusted PB Ratio is 1.07, which is 12% below median its own 10-year median of 1.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fuji P.S stock overvalued right now?
Fuji P.S (FSE:1848) has a current Cyclically Adjusted PB Ratio of 1.07. The stock's GF Value™ is 円426.24, compared to a current price of 円595.00 — trading 39.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.07, which is 12% below median its 10-year median of 1.21 and 6.1% below the Construction industry median of 1.14. Fuji P.S's overall GF Score™ is 60/100 with 8 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 Fuji P.S (FSE:1848), the current Cyclically Adjusted PB Ratio is 1.07 as of Sep. 16, 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 Fuji P.S (FSE:1848) Overvalued in 2026?

Based on GuruFocus' analysis, Fuji P.S stock appears to be overvalued. The current stock price of 円595.00 is trading 39.6% above its estimated GF Value™ of 円426.24.

Key valuation signals for FSE:1848:

  • Cyclically Adjusted PB Ratio: 1.07 (12% below median its 10-year median of 1.21)
  • GF Value™: 円426.24 vs. price of 円595.00 (39.6% above fair value)
  • GF Score™: 60/100 with 8 warning signs
  • Industry Position: 6.1% below the Construction median (#696 of 1239)

No single metric tells the full story. See the FSE:1848 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fuji P.S Business Description

Other Exchanges 1848:Japan
Address 1-13-8 Yakuin, Chou-Ku, Fukuoka, JPN, 810-0022
Fuji P.S Corp provides civil engineering services. The company y has three reportable segments: Real Estate Business, Civil engineering construction Business, and the rental division's real estate Leasing Business. The company generates the majority of its revenue from the Civil engineering business.
60GF Score

Get the complete analysis for FSE:1848

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

円595.00
Price
円426.24
GF Value