Tul (ROCO:6150) Cyclically Adjusted PB Ratio: 2.10 (As of Aug. 22, 2026) — 43% Below Median

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Director of Data and Quant Analytics at GuruFocus
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ROCO:6150 Tul Corp ROCO:6150
59 GF Score
Price NT$60.80
GF Value NT$107.54
Valuation Significantly Undervalued
! 4 Warning Signs
View Full Analysis

What is Tul Cyclically Adjusted PB Ratio?

Tul ROCO:6150 +2.53% 59 Cyclically Adjusted PB Ratio is 2.10 as of Aug. 22, 2026, which is 43% below its 10-year median of 3.67. GuruFocus rates ROCO:6150 with a GF Score™ of 59/100 and a GF Value™ of NT$107.54 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,951 Hardware companies, Tul ranks worse than 50.79% on this metric.

As of today (2026-08-22), Tul's current share price is NT$60.80. Tul's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was NT$28.92. Tul's Cyclically Adjusted PB Ratio for today is 2.10.

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

ROCO:6150' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.85   Med: 3.67   Max: 17.3
Current: 2.1

During the past years, Tul's highest Cyclically Adjusted PB Ratio was 17.30. The lowest was 1.85. And the median was 3.67.

ROCO:6150's Cyclically Adjusted PB Ratio is ranked worse than
50.79% of 1951 companies
in the Hardware industry
Industry Median: 2.07 vs ROCO:6150: 2.10

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.

Tul's adjusted book value per share data for the three months ended in Mar. 2026 was NT$34.901. 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$28.92 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Tul  (ROCO:6150) 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.


Tul Cyclically Adjusted PB Ratio Related Terms


Tul Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Tul'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.

Tul Cyclically Adjusted PB Ratio Chart

Tul 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 10.96 3.51 4.03 2.84 2.35

Tul 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 2.55 2.55 3.06 2.35 1.90

ROCO:6150 vs SNX, ARW, AVT: Cyclically Adjusted PB Ratio Comparison

For the Electronics & Computer Distribution subindustry, Tul'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.


Tul Cyclically Adjusted PB Ratio vs Hardware Industry

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

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


ROCO:6150
59GF Score
Tul Corp ROCO:6150
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tul 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=60.80/28.92
=2.10

* 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.

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

For example, Tul'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)
=34.901/330.2130*330.2130
=34.901

Current CPI (Mar. 2026) = 330.2130.

Tul Quarterly Data

Book Value per Share CPI Adj_Book
201606 5.112 241.018 7.004
201609 8.677 241.428 11.868
201612 8.541 241.432 11.682
201703 7.423 243.801 10.054
201706 8.313 244.955 11.206
201709 13.384 246.819 17.906
201712 16.207 246.524 21.709
201803 25.458 249.554 33.686
201806 21.312 251.989 27.928
201809 19.975 252.439 26.129
201812 15.835 251.233 20.813
201903 15.401 254.202 20.006
201906 12.264 256.143 15.810
201909 12.114 256.759 15.580
201912 11.525 256.974 14.810
202003 10.761 258.115 13.767
202006 12.172 257.797 15.591
202009 24.171 260.280 30.665
202012 18.610 260.474 23.593
202103 21.696 264.877 27.048
202106 28.976 271.696 35.217
202109 33.642 274.310 40.498
202112 54.039 278.802 64.004
202203 53.657 287.504 61.628
202206 41.380 296.311 46.114
202209 37.828 296.808 42.085
202212 36.664 296.797 40.792
202303 36.580 301.836 40.019
202306 35.695 305.109 38.632
202309 35.078 307.789 37.634
202312 33.496 306.746 36.059
202403 33.802 312.332 35.737
202406 32.341 314.175 33.992
202409 31.292 315.301 32.772
202412 29.994 315.605 31.382
202503 30.249 319.799 31.234
202506 30.894 322.561 31.627
202509 31.452 324.800 31.976
202512 32.931 324.054 33.557
202603 34.901 330.213 34.901

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 2.10 mean?
Tul (ROCO:6150) has a Cyclically Adjusted PB Ratio of 2.10 as of Aug. 22, 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 Tul and its competitors. This is 43% below median its historical median of 3.67. Over the past decade, Tul's Cyclically Adjusted PB Ratio has ranged from 1.85 to 17.30. According to the industry distribution chart, Tul ranks #991 out of 1951 companies in the Hardware industry, placing it in the top 50.8%.
Is Tul's Cyclically Adjusted PB Ratio too high?
Tul's current Cyclically Adjusted PB Ratio of 2.10 is 43% below median its 10-year median of 3.67. Over the past 10 years, this metric has ranged from a low of 1.85 to a high of 17.30. The Hardware industry median Cyclically Adjusted PB Ratio is 2.07. Tul's value of 2.10 is 1.4% above this industry median. Based on the distribution chart, Tul ranks #991 out of 1951 companies in the Hardware industry, which is below the industry midpoint. Overall, Tul has a GF Score™ of 59/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tul's Cyclically Adjusted PB Ratio compare to SNX and ARW?
According to the Hardware industry distribution chart, Tul ranks #991 out of 1951 companies for Cyclically Adjusted PB Ratio. This places Tul in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.07. Tul's value of 2.10 is 1.4% above this benchmark. Historically, Tul's own Cyclically Adjusted PB Ratio has ranged from 1.85 to 17.30 over the past decade. While the company's 10-year median is 3.67 vs. the industry median of 2.07, Tul 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 2.07, based on 1,951 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. Tul's current Cyclically Adjusted PB Ratio of 2.10 is 1.4% 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 Tul and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.07 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tul's current Cyclically Adjusted PB Ratio is 2.10, which is 43% below median its own 10-year median of 3.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tul stock overvalued right now?
Based on GuruFocus' analysis, Tul (ROCO:6150) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$107.54, compared to a current price of NT$60.80 — trading 43.5% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.10, which is 43% below median its 10-year median of 3.67 and 1.4% above the Hardware industry median of 2.07. Tul's overall GF Score™ is 59/100 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 Tul (ROCO:6150), the current Cyclically Adjusted PB Ratio is 2.10 as of Aug. 22, 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 Tul (ROCO:6150) Overvalued in 2026?

Based on GuruFocus' analysis, Tul stock appears to be undervalued. The current stock price of NT$60.80 is trading 43.5% below its estimated GF Value™ of NT$107.54. GuruFocus considers Tul to be Significantly Undervalued.

Key valuation signals for ROCO:6150:

  • Cyclically Adjusted PB Ratio: 2.10 (43% below median its 10-year median of 3.67)
  • GF Value™: NT$107.54 vs. price of NT$60.80 (43.5% below fair value)
  • GF Score™: 59/100 with 4 warning signs
  • Industry Position: 1.4% above the Hardware median (#991 of 1951)

No single metric tells the full story. See the ROCO:6150 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tul Business Description

Address Section 1, Xintai 5th Road, 7th Floor, No. 79, Unit 7, Xizhi District, New Taipei City, TWN, 221
Tul Corp is engaged in the production and sale of computer display cards and software products in Taiwan. The company offers gaming and embedded graphics cards, SoC-based motherboards and systems, FPGA products, and customized products and services. The reportable departments of the consolidated company are as follows: Display card manufacturing and sales business, Construction engineering business, and Other businesses. The majority of revenue is derived from the Display card manufacturing and sales business.
59GF Score

Get the complete analysis for ROCO:6150

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

NT$60.80
Price
NT$107.54
GF Value