Tehmag Foods (ROCO:1264) Cyclically Adjusted PB Ratio: (As of Aug. 18, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

ROCO:1264 Tehmag Foods Corp ROCO:1264
78 GF Score
Price NT$258.50
GF Value NT$347.99
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Tehmag Foods Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Tehmag Foods  (ROCO:1264) 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.


Tehmag Foods Cyclically Adjusted PB Ratio Related Terms


Tehmag Foods Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Tehmag Foods'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.

Tehmag Foods Cyclically Adjusted PB Ratio Chart

Tehmag Foods Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 4.11 4.12 3.51

Tehmag Foods 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 4.07 3.75 3.51 3.39 0.00

ROCO:1264 vs KHC, GIS: Cyclically Adjusted PB Ratio Comparison

For the Packaged Foods subindustry, Tehmag Foods'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.


Tehmag Foods Cyclically Adjusted PB Ratio vs Consumer Packaged Goods Industry

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

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


ROCO:1264
78GF Score
Tehmag Foods Corp ROCO:1264
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Tehmag Foods 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.

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

For example, Tehmag Foods'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)
=95.699/333.9520*333.9520
=95.699

Current CPI (Jun. 2026) = 333.9520.

Tehmag Foods Quarterly Data

Book Value per Share CPI Adj_Book
201609 52.383 241.428 72.458
201612 55.290 241.432 76.478
201703 57.733 243.801 79.081
201706 52.627 244.955 71.747
201709 55.857 246.819 75.576
201712 58.990 246.524 79.910
201803 61.731 249.554 82.608
201806 55.393 251.989 73.410
201809 58.408 252.439 77.268
201812 61.485 251.233 81.729
201903 64.661 254.202 84.947
201906 57.907 256.143 75.498
201909 60.605 256.759 78.826
201912 63.710 256.974 82.795
202003 66.525 258.115 86.071
202006 59.424 257.797 76.978
202009 63.966 260.280 82.072
202012 68.208 260.474 87.449
202103 61.191 264.877 77.148
202106 64.225 271.696 78.941
202109 68.119 274.310 82.930
202112 73.060 278.802 87.512
202203 66.217 287.504 76.915
202206 70.279 296.311 79.207
202209 75.292 296.808 84.714
202212 79.194 296.797 89.108
202303 71.598 301.836 79.216
202306 75.827 305.109 82.995
202309 81.431 307.789 88.353
202312 85.043 306.746 92.586
202403 76.793 312.332 82.109
202406 82.068 314.175 87.234
202409 88.342 315.301 93.568
202412 93.192 315.605 98.610
202503 84.462 319.799 88.200
202506 85.979 322.561 89.015
202509 92.961 324.800 95.580
202512 99.072 324.054 102.098
202603 90.337 330.213 91.360
202606 95.699 333.952 95.699

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 Tehmag Foods (ROCO:1264) Overvalued in 2026?

Based on GuruFocus' analysis, Tehmag Foods stock appears to be undervalued. The current stock price of NT$258.50 is trading 25.7% below its estimated GF Value™ of NT$347.99. GuruFocus considers Tehmag Foods to be Modestly Undervalued.

Key valuation signals for ROCO:1264:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$347.99 vs. price of NT$258.50 (25.7% below fair value)
  • GF Score™: 78/100 with 3 warning signs

No single metric tells the full story. See the ROCO:1264 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tehmag Foods Business Description

Address No.31, Wuquan 5th Road, Wugu District, New Taipei, TWN
Tehmag Foods Corp is engaged in Baking, cooking and steaming food manufacturing industry; Flour milling industry; Food additive manufacturing industry; Noodle and vermicelli food manufacturing industry and Food and beverage retail industry. Its marketing channels include bakery shops, hotels, restaurants. The company offers baked goods, dairy products, all kinds of packaging materials and instruments of baking mixes.
78GF Score

Get the complete analysis for ROCO:1264

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

NT$258.50
Price
NT$347.99
GF Value