ICP DAS Co (ROCO:3577) Cyclically Adjusted PB Ratio: 6.41 (As of Aug. 13, 2026) — 98% Above 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.

ROCO:3577 ICP DAS Co Ltd ROCO:3577
70 GF Score
Price NT$130.50
GF Value NT$72.08
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is ICP DAS Co Cyclically Adjusted PB Ratio?

ICP DAS Co ROCO:3577 -1.14% 70 Cyclically Adjusted PB Ratio is 6.41 as of Aug. 13, 2026, which is 98% above its 10-year median of 3.24. GuruFocus rates ROCO:3577 with a GF Score™ of 70/100 and a GF Value™ of NT$72.08 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,962 Hardware companies, ICP DAS Co ranks worse than 85.63% on this metric.

As of today (2026-08-13), ICP DAS Co's current share price is NT$130.50. ICP DAS Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was NT$20.35. ICP DAS Co's Cyclically Adjusted PB Ratio for today is 6.41.

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

ROCO:3577' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.61   Med: 3.24   Max: 7.74
Current: 6.98

During the past years, ICP DAS Co's highest Cyclically Adjusted PB Ratio was 7.74. The lowest was 1.61. And the median was 3.24.

ROCO:3577's Cyclically Adjusted PB Ratio is ranked worse than
85.63% of 1962 companies
in the Hardware industry
Industry Median: 2.085 vs ROCO:3577: 6.98

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.

ICP DAS Co's adjusted book value per share data for the three months ended in Mar. 2026 was NT$23.192. 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$20.35 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


ICP DAS Co  (ROCO:3577) 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.


ICP DAS Co Cyclically Adjusted PB Ratio Related Terms


ICP DAS Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for ICP DAS 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.

ICP DAS Co Cyclically Adjusted PB Ratio Chart

ICP DAS Co 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 3.05 4.48 4.49 3.30 3.27

ICP DAS Co 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 3.05 3.72 3.61 3.27 3.45

ROCO:3577 vs CSCO, MSI, HPE: Cyclically Adjusted PB Ratio Comparison

For the Communication Equipment subindustry, ICP DAS 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.


ICP DAS Co Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, ICP DAS Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


ROCO:3577
70GF Score
ICP DAS Co Ltd ROCO:3577
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ICP DAS 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.

ICP DAS Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=130.50/20.35
=6.41

* 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.

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

For example, ICP DAS Co'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)
=23.192/330.2130*330.2130
=23.192

Current CPI (Mar. 2026) = 330.2130.

ICP DAS Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 12.742 241.018 17.458
201609 13.833 241.428 18.920
201612 14.254 241.432 19.496
201703 14.386 243.801 19.485
201706 14.059 244.955 18.952
201709 14.603 246.819 19.537
201712 14.900 246.524 19.958
201803 15.464 249.554 20.462
201806 14.791 251.989 19.383
201809 15.076 252.439 19.721
201812 15.287 251.233 20.093
201903 15.407 254.202 20.014
201906 14.958 256.143 19.283
201909 15.214 256.759 19.566
201912 15.393 256.974 19.780
202003 15.460 258.115 19.778
202006 14.961 257.797 19.164
202009 15.104 260.280 19.162
202012 15.476 260.474 19.620
202103 15.830 264.877 19.735
202106 16.041 271.696 19.496
202109 16.584 274.310 19.964
202112 17.523 278.802 20.754
202203 18.100 287.504 20.789
202206 17.840 296.311 19.881
202209 19.220 296.808 21.383
202212 19.847 296.797 22.082
202303 20.447 301.836 22.369
202306 19.057 305.109 20.625
202309 19.621 307.789 21.050
202312 19.911 306.746 21.434
202403 20.095 312.332 21.245
202406 19.541 314.175 20.539
202409 20.433 315.301 21.399
202412 20.772 315.605 21.733
202503 21.573 319.799 22.276
202506 20.466 322.561 20.952
202509 20.935 324.800 21.284
202512 21.660 324.054 22.072
202603 23.192 330.213 23.192

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 6.41 mean?
ICP DAS Co (ROCO:3577) has a Cyclically Adjusted PB Ratio of 6.41 as of Aug. 13, 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 ICP DAS Co and its competitors. This is 98% above median its historical median of 3.24. Over the past decade, ICP DAS Co's Cyclically Adjusted PB Ratio has ranged from 1.61 to 7.74. According to the industry distribution chart, ICP DAS Co ranks #1680 out of 1962 companies in the Hardware industry, placing it in the top 85.6%.
Is ICP DAS Co's Cyclically Adjusted PB Ratio too high?
ICP DAS Co's current Cyclically Adjusted PB Ratio of 6.41 is 98% above median its 10-year median of 3.24. Over the past 10 years, this metric has ranged from a low of 1.61 to a high of 7.74. The Hardware industry median Cyclically Adjusted PB Ratio is 2.09. ICP DAS Co's value of 6.41 is 207.4% above this industry median. Based on the distribution chart, ICP DAS Co ranks #1680 out of 1962 companies in the Hardware industry, which is in the bottom quartile relative to peers. Overall, ICP DAS Co has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does ICP DAS Co's Cyclically Adjusted PB Ratio compare to CSCO and MSI?
According to the Hardware industry distribution chart, ICP DAS Co ranks #1680 out of 1962 companies for Cyclically Adjusted PB Ratio. This places ICP DAS Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.09. ICP DAS Co's value of 6.41 is 207.4% above this benchmark. Historically, ICP DAS Co's own Cyclically Adjusted PB Ratio has ranged from 1.61 to 7.74 over the past decade. While the company's 10-year median is 3.24 vs. the industry median of 2.09, ICP DAS Co 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 Hardware company?
The median Cyclically Adjusted PB Ratio among Hardware companies is 2.09, based on 1,962 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. ICP DAS Co's current Cyclically Adjusted PB Ratio of 6.41 is 207.4% 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 ICP DAS Co and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICP DAS Co's current Cyclically Adjusted PB Ratio is 6.41, which is 98% above median its own 10-year median of 3.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICP DAS Co stock overvalued right now?
Based on GuruFocus' analysis, ICP DAS Co (ROCO:3577) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$72.08, compared to a current price of NT$130.50 — trading 81% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 6.41, which is 98% above median its 10-year median of 3.24 and 207.4% above the Hardware industry median of 2.09. ICP DAS Co's overall GF Score™ is 70/100 with 6 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 ICP DAS Co (ROCO:3577), the current Cyclically Adjusted PB Ratio is 6.41 as of Aug. 13, 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 ICP DAS Co (ROCO:3577) Overvalued in 2026?

Based on GuruFocus' analysis, ICP DAS Co stock appears to be overvalued. The current stock price of NT$130.50 is trading 81% above its estimated GF Value™ of NT$72.08. GuruFocus considers ICP DAS Co to be Significantly Overvalued.

Key valuation signals for ROCO:3577:

  • Cyclically Adjusted PB Ratio: 6.41 (98% above median its 10-year median of 3.24)
  • GF Value™: NT$72.08 vs. price of NT$130.50 (81% above fair value)
  • GF Score™: 70/100 with 6 warning signs
  • Industry Position: 207.4% above the Hardware median (#1680 of 1962)

No single metric tells the full story. See the ROCO:3577 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


ICP DAS Co Business Description

Address No. 111, Guangfu North Road, Hsinchu Industrial Zone, Hukou Township, Hsinchu, TWN, 30351
ICP DAS Co Ltd is a Taiwan based company engaged in the production and sale of industrial computer hardware, software and peripheral equipment. Its products include programmable automation controllers, PC based I/O boards, machine automation products, industrial communication products, wireless modems, intelligent power meters and others. The company also geographically operates in Taiwan, Mainland China, United States, Germany, UAE and Others. It derives maximum revenue from Taiwan.
70GF Score

Get the complete analysis for ROCO:3577

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

NT$130.50
Price
NT$72.08
GF Value