KIKOF (Kikkoman) Cyclically Adjusted PB Ratio: 4.11 (As of Jul. 16, 2026) — 19% Below Median

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KIKOF Kikkoman Corp KIKOF
90 GF Score
Price $10.20
GF Value $12.08
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Kikkoman Cyclically Adjusted PB Ratio?

Kikkoman KIKOF 90 Cyclically Adjusted PB Ratio is 4.11 as of Jul. 16, 2026, which is 19% below its 10-year median of 5.05. GuruFocus rates KIKOF with a GF Score™ of 90/100 and a GF Value™ of $12.08 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,442 Consumer Packaged Goods companies, Kikkoman ranks worse than 85.37% on this metric.

As of today (2026-07-16), Kikkoman's current share price is $10.20. Kikkoman's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $2.48. Kikkoman's Cyclically Adjusted PB Ratio for today is 4.11.

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

KIKOF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 3.18   Med: 5.05   Max: 7.85
Current: 4.03

During the past years, Kikkoman's highest Cyclically Adjusted PB Ratio was 7.85. The lowest was 3.18. And the median was 5.05.

KIKOF's Cyclically Adjusted PB Ratio is ranked worse than
85.37% of 1442 companies
in the Consumer Packaged Goods industry
Industry Median: 1.25 vs KIKOF: 4.03

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.

Kikkoman's adjusted book value per share data for the three months ended in Mar. 2026 was $3.815. 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 $2.48 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Kikkoman  (OTCPK:KIKOF) 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.


Kikkoman Cyclically Adjusted PB Ratio Related Terms


Kikkoman Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kikkoman'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.

Kikkoman Cyclically Adjusted PB Ratio Chart

Kikkoman 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 6.23 4.59 6.01 3.91 3.55

Kikkoman 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 3.91 3.55 3.26 3.59 3.55

KIKOF vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Kikkoman'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.


Kikkoman Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Kikkoman's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


KIKOF
90GF Score
Kikkoman Corp KIKOF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Kikkoman 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.

Kikkoman's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=10.20/2.48
=4.11

* 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.

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

For example, Kikkoman'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)
=3.815/112.7000*112.7000
=3.815

Current CPI (Mar. 2026) = 112.7000.

Kikkoman Quarterly Data

Book Value per Share CPI Adj_Book
201606 2.124 98.100 2.440
201609 2.213 98.000 2.545
201612 2.145 98.400 2.457
201703 2.201 98.100 2.529
201706 2.287 98.500 2.617
201709 2.352 98.800 2.683
201712 2.362 99.400 2.678
201803 2.437 99.200 2.769
201806 2.661 99.200 3.023
201809 2.721 99.900 3.070
201812 2.445 99.700 2.764
201903 2.477 99.700 2.800
201906 2.526 99.800 2.853
201909 2.603 100.100 2.931
201912 2.657 100.500 2.980
202003 2.634 100.300 2.960
202006 2.689 99.900 3.034
202009 2.788 99.900 3.145
202012 2.853 99.300 3.238
202103 2.953 99.900 3.331
202106 2.969 99.500 3.363
202109 3.077 100.100 3.464
202112 3.091 100.100 3.480
202203 3.151 101.100 3.513
202206 3.029 101.800 3.353
202209 3.005 103.100 3.285
202212 3.098 104.100 3.354
202303 3.208 104.400 3.463
202306 3.245 105.200 3.476
202309 3.264 106.200 3.464
202312 3.312 106.800 3.495
202403 3.447 107.200 3.624
202406 3.455 108.200 3.599
202409 3.623 108.900 3.749
202412 3.604 110.700 3.669
202503 3.620 111.100 3.672
202506 3.690 111.700 3.723
202509 3.793 112.000 3.817
202512 3.782 113.000 3.772
202603 3.815 112.700 3.815

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 4.11 mean?
Kikkoman (KIKOF) has a Cyclically Adjusted PB Ratio of 4.11 as of Jul. 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 Kikkoman and its competitors. This is 19% below median its historical median of 5.05. Over the past decade, Kikkoman's Cyclically Adjusted PB Ratio has ranged from 3.18 to 7.85. According to the industry distribution chart, Kikkoman ranks #1231 out of 1442 companies in the Consumer Packaged Goods industry, placing it in the top 85.4%.
Is Kikkoman's Cyclically Adjusted PB Ratio too high?
Kikkoman's current Cyclically Adjusted PB Ratio of 4.11 is 19% below median its 10-year median of 5.05. Over the past 10 years, this metric has ranged from a low of 3.18 to a high of 7.85. The Consumer Packaged Goods industry median Cyclically Adjusted PB Ratio is 1.25. Kikkoman's value of 4.11 is 228.8% above this industry median. Based on the distribution chart, Kikkoman ranks #1231 out of 1442 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Kikkoman has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kikkoman's Cyclically Adjusted PB Ratio compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Kikkoman ranks #1231 out of 1442 companies for Cyclically Adjusted PB Ratio. This places Kikkoman in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. Kikkoman's value of 4.11 is 228.8% above this benchmark. Historically, Kikkoman's own Cyclically Adjusted PB Ratio has ranged from 3.18 to 7.85 over the past decade. While the company's 10-year median is 5.05 vs. the industry median of 1.25, Kikkoman has consistently been above 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 Consumer Packaged Goods company?
The median Cyclically Adjusted PB Ratio among Consumer Packaged Goods companies is 1.25, based on 1,442 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. Kikkoman's current Cyclically Adjusted PB Ratio of 4.11 is 228.8% above 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 Kikkoman and its competitors. For the Consumer Packaged Goods industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kikkoman's current Cyclically Adjusted PB Ratio is 4.11, which is 19% below median its own 10-year median of 5.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kikkoman stock overvalued right now?
Based on GuruFocus' analysis, Kikkoman (KIKOF) is currently considered Modestly Undervalued. The stock's GF Value™ is $12.08, compared to a current price of $10.20 — trading 15.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 4.11, which is 19% below median its 10-year median of 5.05 and 228.8% above the Consumer Packaged Goods industry median of 1.25. Kikkoman's overall GF Score™ is 90/100 with 2 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 Kikkoman (KIKOF), the current Cyclically Adjusted PB Ratio is 4.11 as of Jul. 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 Kikkoman (KIKOF) Overvalued in 2026?

Based on GuruFocus' analysis, Kikkoman stock appears to be undervalued. The current stock price of $10.20 is trading 15.6% below its estimated GF Value™ of $12.08. GuruFocus considers Kikkoman to be Modestly Undervalued.

Key valuation signals for KIKOF:

  • Cyclically Adjusted PB Ratio: 4.11 (19% below median its 10-year median of 5.05)
  • GF Value™: $12.08 vs. price of $10.20 (15.6% below fair value)
  • GF Score™: 90/100 with 2 warning signs
  • Industry Position: 228.8% above the Consumer Packaged Goods median (#1231 of 1442)

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


Kikkoman Business Description

Address 250 Noda, Chiba Prefecture, Noda, JPN, 278-8601
Kikkoman was founded in 1917 following the merger of eight family-owned companies in Noda, Chiba Prefecture, Japan. It is the largest soy sauce manufacturer in Japan and the US. Domestically, it sells a broad range of food and beverage products, including but not limited to soy sauce, soy milk, licensed Del Monte products, and liquor. Kikkoman's products are shipped to over 100 countries with eight global production plants across the US, Asia, Europe, and South America. Apart from food manufacturing, Kikkoman also operates a wholesale business that resells Asian foods globally.
90GF Score

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

$10.20
Price
$12.08
GF Value