PChome Online (ROCO:8044) Cyclically Adjusted PB Ratio: 0.61 (As of Aug. 12, 2026) — 65% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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ROCO:8044 PChome Online Inc ROCO:8044
55 GF Score
Price NT$26.95
GF Value NT$23.55
Valuation Modestly Overvalued
! 7 Warning Signs
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What is PChome Online Cyclically Adjusted PB Ratio?

PChome Online ROCO:8044 -2.18% 55 Cyclically Adjusted PB Ratio is 0.61 as of Aug. 12, 2026, which is 65% below its 10-year median of 1.74. GuruFocus rates ROCO:8044 with a GF Score™ of 55/100 and a GF Value™ of NT$23.55 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 801 Retail - Cyclical companies, PChome Online ranks better than 70.54% on this metric.

As of today (2026-08-12), PChome Online's current share price is NT$26.95. PChome Online's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was NT$44.50. PChome Online's Cyclically Adjusted PB Ratio for today is 0.61.

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

ROCO:8044' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.5   Med: 1.74   Max: 6.16
Current: 0.63

During the past years, PChome Online's highest Cyclically Adjusted PB Ratio was 6.16. The lowest was 0.50. And the median was 1.74.

ROCO:8044's Cyclically Adjusted PB Ratio is ranked better than
70.54% of 801 companies
in the Retail - Cyclical industry
Industry Median: 1.24 vs ROCO:8044: 0.63

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.

PChome Online's adjusted book value per share data for the three months ended in Mar. 2026 was NT$32.628. 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$44.50 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PChome Online  (ROCO:8044) 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.


PChome Online Cyclically Adjusted PB Ratio Related Terms


PChome Online Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for PChome Online'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.

PChome Online Cyclically Adjusted PB Ratio Chart

PChome Online 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 4.11 1.46 1.10 1.01 0.72

PChome Online 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 0.89 0.77 0.71 0.72 0.50

ROCO:8044 vs AMZN, BABA, PDD: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, PChome Online'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.


PChome Online Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, PChome Online's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


ROCO:8044
55GF Score
PChome Online Inc ROCO:8044
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PChome Online 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.

PChome Online's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=26.95/44.50
=0.61

* 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.

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

For example, PChome Online'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)
=32.628/330.2130*330.2130
=32.628

Current CPI (Mar. 2026) = 330.2130.

PChome Online Quarterly Data

Book Value per Share CPI Adj_Book
201606 41.496 241.018 56.853
201609 42.903 241.428 58.681
201612 44.076 241.432 60.284
201703 45.768 243.801 61.990
201706 42.408 244.955 57.168
201709 42.291 246.819 56.580
201712 39.680 246.524 53.150
201803 36.078 249.554 47.739
201806 33.379 251.989 43.741
201809 27.368 252.439 35.800
201812 24.679 251.233 32.437
201903 25.244 254.202 32.792
201906 25.616 256.143 33.023
201909 25.551 256.759 32.861
201912 25.596 256.974 32.891
202003 25.380 258.115 32.469
202006 25.955 257.797 33.246
202009 26.484 260.280 33.600
202012 27.999 260.474 35.495
202103 27.853 264.877 34.723
202106 28.284 271.696 34.376
202109 30.215 274.310 36.373
202112 49.414 278.802 58.526
202203 48.128 287.504 55.277
202206 46.710 296.311 52.054
202209 48.827 296.808 54.322
202212 49.521 296.797 55.097
202303 49.545 301.836 54.203
202306 49.046 305.109 53.081
202309 47.681 307.789 51.155
202312 45.524 306.746 49.007
202403 44.918 312.332 47.490
202406 43.704 314.175 45.935
202409 42.065 315.301 44.054
202412 40.430 315.605 42.301
202503 39.490 319.799 40.776
202506 38.469 322.561 39.382
202509 34.418 324.800 34.992
202512 32.764 324.054 33.387
202603 32.628 330.213 32.628

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 0.61 mean?
PChome Online (ROCO:8044) has a Cyclically Adjusted PB Ratio of 0.61 as of Aug. 12, 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 PChome Online and its competitors. This is 65% below median its historical median of 1.74. Over the past decade, PChome Online's Cyclically Adjusted PB Ratio has ranged from 0.50 to 6.16. According to the industry distribution chart, PChome Online ranks #236 out of 801 companies in the Retail - Cyclical industry, placing it in the top 29.5%.
Is PChome Online's Cyclically Adjusted PB Ratio too high?
PChome Online's current Cyclically Adjusted PB Ratio of 0.61 is 65% below median its 10-year median of 1.74. Over the past 10 years, this metric has ranged from a low of 0.50 to a high of 6.16. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.24. PChome Online's value of 0.61 is 50.8% below this industry median. Based on the distribution chart, PChome Online ranks #236 out of 801 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, PChome Online has a GF Score™ of 55/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does PChome Online's Cyclically Adjusted PB Ratio compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, PChome Online ranks #236 out of 801 companies for Cyclically Adjusted PB Ratio. This puts PChome Online in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.24. PChome Online's value of 0.61 is 50.8% below this benchmark. Historically, PChome Online's own Cyclically Adjusted PB Ratio has ranged from 0.50 to 6.16 over the past decade. While the company's 10-year median is 1.74 vs. the industry median of 1.24, PChome Online 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 Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.24, based on 801 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. PChome Online's current Cyclically Adjusted PB Ratio of 0.61 is 50.8% 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 PChome Online and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PChome Online's current Cyclically Adjusted PB Ratio is 0.61, which is 65% below median its own 10-year median of 1.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PChome Online stock overvalued right now?
Based on GuruFocus' analysis, PChome Online (ROCO:8044) is currently considered Modestly Overvalued. The stock's GF Value™ is NT$23.55, compared to a current price of NT$26.95 — trading 14.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.61, which is 65% below median its 10-year median of 1.74 and 50.8% below the Retail - Cyclical industry median of 1.24. PChome Online's overall GF Score™ is 55/100 with 7 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 PChome Online (ROCO:8044), the current Cyclically Adjusted PB Ratio is 0.61 as of Aug. 12, 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 PChome Online (ROCO:8044) Overvalued in 2026?

Based on GuruFocus' analysis, PChome Online stock appears to be overvalued. The current stock price of NT$26.95 is trading 14.4% above its estimated GF Value™ of NT$23.55. GuruFocus considers PChome Online to be Modestly Overvalued.

Key valuation signals for ROCO:8044:

  • Cyclically Adjusted PB Ratio: 0.61 (65% below median its 10-year median of 1.74)
  • GF Value™: NT$23.55 vs. price of NT$26.95 (14.4% above fair value)
  • GF Score™: 55/100 with 7 warning signs
  • Industry Position: 50.8% below the Retail - Cyclical median (#236 of 801)

No single metric tells the full story. See the ROCO:8044 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


PChome Online Business Description

Address Tun Hwa South Road, 12 Floor, No. 105, Section 2, Taipei, TWN, 106
PChome Online Inc is an E-commerce service provider. The primary business scope of the Company and its subsidiaries (together referred to as the Group) includes software design, digital information supply, data processing, and wholesaling and retailing of office machinery, equipment, and information software. The Group's reportable segments are the E-Commerce-Sales segment, Marketplace segment, Fintech segment, and other segment. The E-Commerce-Sales segment is the revenue collection from the online platform from the sale of goods. The other segment is the revenue generated from the online platform to provide search engine services, and telecommunication and communication services. Geographically, in Taiwan only.
55GF Score

Get the complete analysis for ROCO:8044

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

NT$26.95
Price
NT$23.55
GF Value