Keio (KTERF) Cyclically Adjusted PB Ratio: 1.02 (As of Jul. 16, 2026) — 48% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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.

KTERF Keio Corp KTERF
71 GF Score
Price $4.22
GF Value $5.64
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Keio Cyclically Adjusted PB Ratio?

Keio KTERF 71 Cyclically Adjusted PB Ratio is 1.02 as of Jul. 16, 2026, which is 48% below its 10-year median of 1.96. GuruFocus rates KTERF with a GF Score™ of 71/100 and a GF Value™ of $5.64 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 478 Conglomerates companies, Keio ranks worse than 52.09% on this metric.

As of today (2026-07-16), Keio's current share price is $4.22. Keio's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $4.15. Keio's Cyclically Adjusted PB Ratio for today is 1.02.

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

KTERF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.07   Med: 1.96   Max: 3.26
Current: 1.14

During the past years, Keio's highest Cyclically Adjusted PB Ratio was 3.26. The lowest was 1.07. And the median was 1.96.

KTERF's Cyclically Adjusted PB Ratio is ranked worse than
52.09% of 478 companies
in the Conglomerates industry
Industry Median: 1.065 vs KTERF: 1.14

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.

Keio's adjusted book value per share data for the three months ended in Mar. 2026 was $4.832. 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 $4.15 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Keio  (OTCPK:KTERF) 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.


Keio Cyclically Adjusted PB Ratio Related Terms


Keio Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Keio'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.

Keio Cyclically Adjusted PB Ratio Chart

Keio 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 1.73 1.61 1.38 1.19 1.16

Keio 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 1.19 1.09 1.17 1.23 1.16

KTERF vs HON, MMM: Cyclically Adjusted PB Ratio Comparison

For the Conglomerates subindustry, Keio'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.


Keio Cyclically Adjusted PB Ratio vs Conglomerates Industry

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

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


KTERF
71GF Score
Keio Corp KTERF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Keio 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=4.22/4.15
=1.02

* 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.

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

For example, Keio'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)
=4.832/112.7000*112.7000
=4.832

Current CPI (Mar. 2026) = 112.7000.

Keio Quarterly Data

Book Value per Share CPI Adj_Book
201606 4.880 98.100 5.606
201609 5.183 98.000 5.960
201612 4.698 98.400 5.381
201703 4.812 98.100 5.528
201706 5.007 98.500 5.729
201709 5.095 98.800 5.812
201712 5.111 99.400 5.795
201803 5.436 99.200 6.176
201806 5.309 99.200 6.031
201809 5.341 99.900 6.025
201812 5.300 99.700 5.991
201903 5.419 99.700 6.126
201906 5.634 99.800 6.362
201909 5.794 100.100 6.523
201912 5.838 100.500 6.547
202003 5.677 100.300 6.379
202006 5.469 99.900 6.170
202009 5.481 99.900 6.183
202012 5.565 99.300 6.316
202103 5.189 99.900 5.854
202106 5.021 99.500 5.687
202109 5.049 100.100 5.685
202112 4.872 100.100 5.485
202203 4.729 101.100 5.272
202206 4.181 101.800 4.629
202209 3.925 103.100 4.290
202212 4.275 104.100 4.628
202303 4.308 104.400 4.650
202306 4.239 105.200 4.541
202309 4.177 106.200 4.433
202312 4.343 106.800 4.583
202403 4.298 107.200 4.519
202406 4.207 108.200 4.382
202409 4.731 108.900 4.896
202412 4.515 110.700 4.597
202503 4.704 111.100 4.772
202506 4.941 111.700 4.985
202509 5.013 112.000 5.044
202512 4.818 113.000 4.805
202603 4.832 112.700 4.832

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 1.02 mean?
Keio (KTERF) has a Cyclically Adjusted PB Ratio of 1.02 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 Keio and its competitors. This is 48% below median its historical median of 1.96. Over the past decade, Keio's Cyclically Adjusted PB Ratio has ranged from 1.07 to 3.26. According to the industry distribution chart, Keio ranks #249 out of 478 companies in the Conglomerates industry, placing it in the top 52.1%.
Is Keio's Cyclically Adjusted PB Ratio too high?
Keio's current Cyclically Adjusted PB Ratio of 1.02 is 48% below median its 10-year median of 1.96. Over the past 10 years, this metric has ranged from a low of 1.07 to a high of 3.26. The Conglomerates industry median Cyclically Adjusted PB Ratio is 1.07. Keio's value of 1.02 is 4.2% below this industry median. Based on the distribution chart, Keio ranks #249 out of 478 companies in the Conglomerates industry, which is below the industry midpoint. Overall, Keio has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Keio's Cyclically Adjusted PB Ratio compare to HON and MMM?
According to the Conglomerates industry distribution chart, Keio ranks #249 out of 478 companies for Cyclically Adjusted PB Ratio. This places Keio in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.07. Keio's value of 1.02 is 4.2% below this benchmark. Historically, Keio's own Cyclically Adjusted PB Ratio has ranged from 1.07 to 3.26 over the past decade. While the company's 10-year median is 1.96 vs. the industry median of 1.07, Keio 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 Conglomerates company?
The median Cyclically Adjusted PB Ratio among Conglomerates companies is 1.07, based on 478 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. Keio's current Cyclically Adjusted PB Ratio of 1.02 is 4.2% 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 Keio and its competitors. For the Conglomerates industry, the median Cyclically Adjusted PB Ratio is 1.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Keio's current Cyclically Adjusted PB Ratio is 1.02, which is 48% below median its own 10-year median of 1.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keio stock overvalued right now?
Based on GuruFocus' analysis, Keio (KTERF) is currently considered Modestly Undervalued. The stock's GF Value™ is $5.64, compared to a current price of $4.22 — trading 25.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.02, which is 48% below median its 10-year median of 1.96 and 4.2% below the Conglomerates industry median of 1.07. Keio's overall GF Score™ is 71/100 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 Keio (KTERF), the current Cyclically Adjusted PB Ratio is 1.02 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 Keio (KTERF) Overvalued in 2026?

Based on GuruFocus' analysis, Keio stock appears to be undervalued. The current stock price of $4.22 is trading 25.2% below its estimated GF Value™ of $5.64. GuruFocus considers Keio to be Modestly Undervalued.

Key valuation signals for KTERF:

  • Cyclically Adjusted PB Ratio: 1.02 (48% below median its 10-year median of 1.96)
  • GF Value™: $5.64 vs. price of $4.22 (25.2% below fair value)
  • GF Score™: 71/100 with 2 warning signs
  • Industry Position: 4.2% below the Conglomerates median (#249 of 478)

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


Keio Business Description

Other Exchanges 9008:Japan
Address 1-9-1 Sekido, Tama-shi, Tokyo, JPN, 206-8502
Keio Corp is a Japanese conglomerate engaged in transportation, distribution, real estate, leisure and services, and other businesses. The company organizes itself into five segments. The Distribution segment runs retail operations focused on lifestyle-related businesses. The Leisure and Service segment provides hotel, travel, and related services. The Real Estate segment engages in leasing and sales of properties. The Transportation segment is involved in passenger transport, including railways and buses. The Others segment covers building management, construction, and civil engineering activities. It generates the majority of its revenue from the Transportation business segment.
71GF Score

Get the complete analysis for KTERF

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

$4.22
Price
$5.64
GF Value