NTULF (Biprogy) Cyclically Adjusted PB Ratio: 3.32 (As of Aug. 02, 2026) — Near Median

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.

NTULF Biprogy Inc NTULF
73 GF Score
Price $28.78
GF Value $34.14
Valuation Modestly Undervalued
! 1 Warning Sign
View Full Analysis

What is Biprogy Cyclically Adjusted PB Ratio?

Biprogy NTULF 73 Cyclically Adjusted PB Ratio is 3.32 as of Aug. 02, 2026, which is 3% below its 10-year median of 3.43. GuruFocus rates NTULF with a GF Score™ of 73/100 and a GF Value™ of $34.14 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,573 Software companies, Biprogy ranks worse than 63.89% on this metric.

As of today (2026-08-02), Biprogy's current share price is $28.78. Biprogy's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was $8.68. Biprogy's Cyclically Adjusted PB Ratio for today is 3.32.

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

NTULF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.06   Med: 3.43   Max: 4.92
Current: 3.33

During the past years, Biprogy's highest Cyclically Adjusted PB Ratio was 4.92. The lowest was 2.06. And the median was 3.43.

NTULF's Cyclically Adjusted PB Ratio is ranked worse than
63.89% of 1573 companies
in the Software industry
Industry Median: 2.24 vs NTULF: 3.33

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.

Biprogy's adjusted book value per share data for the three months ended in Mar. 2026 was $11.679. 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 $8.68 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Biprogy  (OTCPK:NTULF) 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.


Biprogy Cyclically Adjusted PB Ratio Related Terms


Biprogy Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Biprogy'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.

Biprogy Cyclically Adjusted PB Ratio Chart

Biprogy 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 3.18 3.04 3.86 3.56 3.33

Biprogy 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 3.56 4.59 4.51 3.96 3.33

NTULF vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Biprogy'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.


Biprogy Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Biprogy's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


NTULF
73GF Score
Biprogy Inc NTULF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Biprogy 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=28.78/8.68
=3.32

* 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.

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

For example, Biprogy'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)
=11.679/112.7000*112.7000
=11.679

Current CPI (Mar. 2026) = 112.7000.

Biprogy Quarterly Data

Book Value per Share CPI Adj_Book
201606 7.997 98.100 9.187
201609 8.557 98.000 9.841
201612 7.634 98.400 8.743
201703 7.964 98.100 9.149
201706 8.220 98.500 9.405
201709 8.640 98.800 9.856
201712 8.624 99.400 9.778
201803 9.716 99.200 11.038
201806 9.349 99.200 10.621
201809 9.632 99.900 10.866
201812 9.601 99.700 10.853
201903 10.317 99.700 11.662
201906 10.499 99.800 11.856
201909 11.100 100.100 12.497
201912 10.974 100.500 12.306
202003 9.500 100.300 10.674
202006 11.096 99.900 12.518
202009 11.878 99.900 13.400
202012 12.128 99.300 13.765
202103 10.288 99.900 11.606
202106 10.173 99.500 11.523
202109 10.784 100.100 12.141
202112 10.487 100.100 11.807
202203 10.824 101.100 12.066
202206 9.370 101.800 10.373
202209 9.213 103.100 10.071
202212 9.822 104.100 10.633
202303 10.413 104.400 11.241
202306 10.046 105.200 10.762
202309 10.191 106.200 10.815
202312 10.536 106.800 11.118
202403 11.046 107.200 11.613
202406 10.481 108.200 10.917
202409 11.401 108.900 11.799
202412 10.667 110.700 10.860
202503 11.551 111.100 11.717
202506 11.808 111.700 11.914
202509 12.098 112.000 12.174
202512 11.315 113.000 11.285
202603 11.679 112.700 11.679

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 3.32 mean?
Biprogy (NTULF) has a Cyclically Adjusted PB Ratio of 3.32 as of Aug. 02, 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 Biprogy and its competitors. This is near median its historical median of 3.43. Over the past decade, Biprogy's Cyclically Adjusted PB Ratio has ranged from 2.06 to 4.92. According to the industry distribution chart, Biprogy ranks #1005 out of 1573 companies in the Software industry, placing it in the top 63.9%.
Is Biprogy's Cyclically Adjusted PB Ratio too high?
Biprogy's current Cyclically Adjusted PB Ratio of 3.32 is near median its 10-year median of 3.43. Over the past 10 years, this metric has ranged from a low of 2.06 to a high of 4.92. The Software industry median Cyclically Adjusted PB Ratio is 2.24. Biprogy's value of 3.32 is 48.2% above this industry median. Based on the distribution chart, Biprogy ranks #1005 out of 1573 companies in the Software industry, which is below the industry midpoint. Overall, Biprogy has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Biprogy's Cyclically Adjusted PB Ratio compare to IBM and ACN?
According to the Software industry distribution chart, Biprogy ranks #1005 out of 1573 companies for Cyclically Adjusted PB Ratio. This places Biprogy in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.24. Biprogy's value of 3.32 is 48.2% above this benchmark. Historically, Biprogy's own Cyclically Adjusted PB Ratio has ranged from 2.06 to 4.92 over the past decade. While the company's 10-year median is 3.43 vs. the industry median of 2.24, Biprogy 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 Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.24, based on 1,573 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. Biprogy's current Cyclically Adjusted PB Ratio of 3.32 is 48.2% 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 Biprogy and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Biprogy's current Cyclically Adjusted PB Ratio is 3.32, which is near median its own 10-year median of 3.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Biprogy stock overvalued right now?
Based on GuruFocus' analysis, Biprogy (NTULF) is currently considered Modestly Undervalued. The stock's GF Value™ is $34.14, compared to a current price of $28.78 — trading 15.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.32, which is near median its 10-year median of 3.43 and 48.2% above the Software industry median of 2.24. Biprogy's overall GF Score™ is 73/100 with 1 warning sign 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 Biprogy (NTULF), the current Cyclically Adjusted PB Ratio is 3.32 as of Aug. 02, 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 Biprogy (NTULF) Overvalued in 2026?

Based on GuruFocus' analysis, Biprogy stock appears to be undervalued. The current stock price of $28.78 is trading 15.7% below its estimated GF Value™ of $34.14. GuruFocus considers Biprogy to be Modestly Undervalued.

Key valuation signals for NTULF:

  • Cyclically Adjusted PB Ratio: 3.32 (near median its 10-year median of 3.43)
  • GF Value™: $34.14 vs. price of $28.78 (15.7% below fair value)
  • GF Score™: 73/100 with 1 warning sign
  • Industry Position: 48.2% above the Software median (#1005 of 1573)

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


Biprogy Business Description

Other Exchanges 8056:Japan
Address 1-1-1 Toyosu, Koto-ku, Tokyo, JPN, 135-8560
Biprogy Inc is engaged in the service business, such as cloud and outsourcing, sales/rental of computer systems and network systems, software development/sales, and various system services. The company operates through five segments. The Hardware segment supplies equipment through sales contracts and lease agreements. The Outsourcing segment handles information system operation consignment. The Software segment provides licensed software. The Support Service segment offers software and hardware maintenance, implementation support, and related services. The System Service segment covers contract software development, SE services, and consulting, and the Others segment includes line services and equipment construction.
73GF Score

Get the complete analysis for NTULF

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

$28.78
Price
$34.14
GF Value