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TSG Development CoROCO:3521 +0.82%54 Cyclically Adjusted PB Ratio is 1.10 as of Aug. 29, 2026, which is 19% below its 10-year median of 1.36. GuruFocus rates ROCO:3521 with a GF Score™ of 54/100 and a GF Value™ of NT$2.71 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,239 Construction companies, TSG Development Co ranks better than 52.54% on this metric.
The historical rank and industry rank for TSG Development Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
ROCO:3521'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.86 Med: 1.36 Max: 2.39
Current: 1.09
During the past years, TSG Development Co's highest Cyclically Adjusted PB Ratio was 2.39. The lowest was 0.86. And the median was 1.36.
ROCO:3521's Cyclically Adjusted PB Ratio is ranked better than 52.54% of 1239
companies
in the Construction industry
Industry Median: 1.16
vs ROCO:3521: 1.09
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.
TSG Development Co's adjusted book value per share data for the three months ended in Jun. 2026 was NT$12.139. 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 NT$11.15 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
TSG Development Co (ROCO:3521) 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.
TSG Development Co Cyclically Adjusted PB Ratio Related Terms
TSG Development Co Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for TSG Development Co'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.
TSG Development Co Cyclically Adjusted PB Ratio Chart
ROCO:3521 vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison
For the Engineering & Construction subindustry, TSG Development Co'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.
TSG Development Co Cyclically Adjusted PB Ratio vs Construction Industry
For the Construction industry and Industrials sector, TSG Development Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where TSG Development Co's Cyclically Adjusted PB Ratio falls into.
TSG Development Co 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.
TSG Development Co's Cyclically Adjusted PB Ratio for today is calculated as
* 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.
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 1.10 mean?
TSG Development Co (ROCO:3521) has a Cyclically Adjusted PB Ratio of 1.10 as of Aug. 29, 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 TSG Development Co and its competitors. This is 19% below median its historical median of 1.36. Over the past decade, TSG Development Co's Cyclically Adjusted PB Ratio has ranged from 0.86 to 2.39. According to the industry distribution chart, TSG Development Co ranks #588 out of 1239 companies in the Construction industry, placing it in the top 47.5%.
Is TSG Development Co's Cyclically Adjusted PB Ratio too high?
TSG Development Co's current Cyclically Adjusted PB Ratio of 1.10 is 19% below median its 10-year median of 1.36. Over the past 10 years, this metric has ranged from a low of 0.86 to a high of 2.39. The Construction industry median Cyclically Adjusted PB Ratio is 1.16. TSG Development Co's value of 1.10 is 5.2% below this industry median. Based on the distribution chart, TSG Development Co ranks #588 out of 1239 companies in the Construction industry, which is above the industry midpoint. Overall, TSG Development Co has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TSG Development Co's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, TSG Development Co ranks #588 out of 1239 companies for Cyclically Adjusted PB Ratio. This puts TSG Development Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.16. TSG Development Co's value of 1.10 is 5.2% below this benchmark. Historically, TSG Development Co's own Cyclically Adjusted PB Ratio has ranged from 0.86 to 2.39 over the past decade. While the company's 10-year median is 1.36 vs. the industry median of 1.16, TSG Development Co 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 1.16, 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. TSG Development Co's current Cyclically Adjusted PB Ratio of 1.10 is 5.2% 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 TSG Development Co and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TSG Development Co's current Cyclically Adjusted PB Ratio is 1.10, which is 19% below median its own 10-year median of 1.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSG Development Co stock overvalued right now?
Based on GuruFocus' analysis, TSG Development Co (ROCO:3521) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$2.71, compared to a current price of NT$12.25 — trading 352% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.10, which is 19% below median its 10-year median of 1.36 and 5.2% below the Construction industry median of 1.16. TSG Development Co's overall GF Score™ is 54/100 with 4 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 TSG Development Co (ROCO:3521), the current Cyclically Adjusted PB Ratio is 1.10 as of Aug. 29, 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 TSG Development Co (ROCO:3521) Overvalued in 2026?
Based on GuruFocus' analysis, TSG Development Co stock appears to be overvalued.
The current stock price of NT$12.25 is trading 352% above its estimated GF Value™ of NT$2.71.
GuruFocus considers TSG Development Co to be Significantly Overvalued.
Key valuation signals for ROCO:3521:
Cyclically Adjusted PB Ratio: 1.10 (19% below median its 10-year median of 1.36)
GF Value™: NT$2.71 vs. price of NT$12.25 (352% above fair value)
Industry Position: 5.2% below the Construction median (#588 of 1239)
No single metric tells the full story. See the ROCO:3521 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TSG Development Co Ltd Formerly Datavan International Corp is engaged in the research and development, design, manufacture and sale of endpoint sales system software and hardware, import and export of computer information equipment and its peripheral equipment parts and accessories, and development and sale of residential and buildings for lease, investment in construction of public works and real estate trading. It operates in two reportable operating segments: Technology Business Division; and Construction Business Division, which earns majority of the revenue from real estate construction and related sales management services and other businesses. Geographically, its operations are spread across Asia, Europe, Americas and Other with majority of the revenue generating from Asia.
54GF Score
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