Asia Tech Image (ROCO:4974) Cyclically Adjusted PB Ratio: (As of Aug. 18, 2026)

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:4974 Asia Tech Image Inc ROCO:4974
74 GF Score
Price NT$70.00
GF Value NT$71.05
Valuation Fairly Valued
! 5 Warning Signs
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What is Asia Tech Image Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Asia Tech Image  (ROCO:4974) 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.


Asia Tech Image Cyclically Adjusted PB Ratio Related Terms


Asia Tech Image Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Asia Tech Image'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.

Asia Tech Image Cyclically Adjusted PB Ratio Chart

Asia Tech Image 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 1.73 1.60 1.76 3.49 1.66

Asia Tech Image 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 1.97 1.92 1.66 1.62 0.00

ROCO:4974 vs APH, GLW, TEL: Cyclically Adjusted PB Ratio Comparison

For the Electronic Components subindustry, Asia Tech Image'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.


Asia Tech Image Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Asia Tech Image's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


ROCO:4974
74GF Score
Asia Tech Image Inc ROCO:4974
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Asia Tech Image 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.

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

For example, Asia Tech Image'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)
=45.21/333.9520*333.9520
=45.210

Current CPI (Jun. 2026) = 333.9520.

Asia Tech Image Quarterly Data

Book Value per Share CPI Adj_Book
201609 26.307 241.428 36.389
201612 27.661 241.432 38.261
201703 33.802 243.801 46.301
201706 28.221 244.955 38.474
201709 29.573 246.819 40.013
201712 30.470 246.524 41.276
201803 31.163 249.554 41.702
201806 30.417 251.989 40.311
201809 31.264 252.439 41.359
201812 32.297 251.233 42.931
201903 33.475 254.202 43.977
201906 31.855 256.143 41.532
201909 33.073 256.759 43.016
201912 33.174 256.974 43.111
202003 34.346 258.115 44.437
202006 31.926 257.797 41.357
202009 33.505 260.280 42.989
202012 34.844 260.474 44.673
202103 36.040 264.877 45.439
202106 37.338 271.696 45.894
202109 35.446 274.310 43.153
202112 36.787 278.802 44.064
202203 39.748 287.504 46.170
202206 37.867 296.311 42.677
202209 41.298 296.808 46.466
202212 42.108 296.797 47.379
202303 37.498 301.836 41.488
202306 39.249 305.109 42.959
202309 42.288 307.789 45.883
202312 41.541 306.746 45.225
202403 40.430 312.332 43.229
202406 42.767 314.175 45.459
202409 44.106 315.301 46.715
202412 46.761 315.605 49.479
202503 43.672 319.799 45.605
202506 39.979 322.561 41.391
202509 42.955 324.800 44.165
202512 45.402 324.054 46.789
202603 43.660 330.213 44.154
202606 45.210 333.952 45.210

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 Asia Tech Image (ROCO:4974) Overvalued in 2026?

Based on GuruFocus' analysis, Asia Tech Image stock appears to be undervalued. The current stock price of NT$70.00 is trading 1.5% below its estimated GF Value™ of NT$71.05. GuruFocus considers Asia Tech Image to be Fairly Valued.

Key valuation signals for ROCO:4974:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$71.05 vs. price of NT$70.00 (1.5% below fair value)
  • GF Score™: 74/100 with 5 warning signs

No single metric tells the full story. See the ROCO:4974 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Asia Tech Image Business Description

Address Zhongzheng Road, 2nd Floor, No. 880, Zhonghe District, Taipei, TWN
Asia Tech Image Inc is engaged in manufacturing and selling contact image sensor modules the scope of product application is mainly for multi-functional business machines. its product includes CIS modules applied to Inkjet multi-functional printers (MFP), Laser MFP, Scanners, Plain paper copiers, and digital photo frames. It operates in three principal geographical areas including Taiwan, China, and Burma.
74GF Score

Get the complete analysis for ROCO:4974

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

NT$70.00
Price
NT$71.05
GF Value