Ta-Yuan Cogeneration Co (ROCO:8931) Cyclically Adjusted PB Ratio: (As of Aug. 17, 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:8931 Ta-Yuan Cogeneration Co Ltd ROCO:8931
76 GF Score
Price NT$40.70
GF Value NT$47.01
Valuation Modestly Undervalued
! 9 Warning Signs
View Full Analysis

What is Ta-Yuan Cogeneration Co Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Ta-Yuan Cogeneration Co  (ROCO:8931) 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.


Ta-Yuan Cogeneration Co Cyclically Adjusted PB Ratio Related Terms


Ta-Yuan Cogeneration Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Ta-Yuan Cogeneration 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.

Ta-Yuan Cogeneration Co Cyclically Adjusted PB Ratio Chart

Ta-Yuan Cogeneration 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 2.02 2.47 2.69 2.65 2.49

Ta-Yuan Cogeneration Co 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 2.90 2.86 2.49 2.32 0.00

ROCO:8931 vs NEE, SO, DUK: Cyclically Adjusted PB Ratio Comparison

For the Utilities - Regulated Electric subindustry, Ta-Yuan Cogeneration 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.


Ta-Yuan Cogeneration Co Cyclically Adjusted PB Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Ta-Yuan Cogeneration Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Ta-Yuan Cogeneration Co's Cyclically Adjusted PB Ratio falls into.


ROCO:8931
76GF Score
Ta-Yuan Cogeneration Co Ltd ROCO:8931
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ta-Yuan Cogeneration 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.

Ta-Yuan Cogeneration Co's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Ta-Yuan Cogeneration Co'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)
=16.144/333.9520*333.9520
=16.144

Current CPI (Jun. 2026) = 333.9520.

Ta-Yuan Cogeneration Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 13.455 241.428 18.611
201612 13.714 241.432 18.969
201703 13.731 243.801 18.808
201706 13.219 244.955 18.022
201709 13.878 246.819 18.777
201712 14.781 246.524 20.023
201803 14.827 249.554 19.841
201806 13.875 251.989 18.388
201809 14.462 252.439 19.132
201812 14.385 251.233 19.121
201903 14.665 254.202 19.266
201906 14.270 256.143 18.605
201909 14.604 256.759 18.995
201912 14.901 256.974 19.365
202003 15.294 258.115 19.788
202006 14.486 257.797 18.765
202009 15.307 260.280 19.640
202012 16.276 260.474 20.867
202103 16.617 264.877 20.950
202106 17.742 271.696 21.807
202109 16.563 274.310 20.164
202112 16.719 278.802 20.026
202203 16.796 287.504 19.509
202206 15.148 296.311 17.072
202209 16.564 296.808 18.637
202212 17.808 296.797 20.037
202303 18.652 301.836 20.637
202306 16.884 305.109 18.480
202309 17.246 307.789 18.712
202312 17.761 306.746 19.336
202403 18.108 312.332 19.361
202406 16.545 314.175 17.586
202409 16.829 315.301 17.824
202412 16.872 315.605 17.853
202503 17.583 319.799 18.361
202506 16.159 322.561 16.730
202509 16.550 324.800 17.016
202512 16.567 324.054 17.073
202603 17.179 330.213 17.374
202606 16.144 333.952 16.144

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 Ta-Yuan Cogeneration Co (ROCO:8931) Overvalued in 2026?

Based on GuruFocus' analysis, Ta-Yuan Cogeneration Co stock appears to be undervalued. The current stock price of NT$40.70 is trading 13.4% below its estimated GF Value™ of NT$47.01. GuruFocus considers Ta-Yuan Cogeneration Co to be Modestly Undervalued.

Key valuation signals for ROCO:8931:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$47.01 vs. price of NT$40.70 (13.4% below fair value)
  • GF Score™: 76/100 with 9 warning signs

No single metric tells the full story. See the ROCO:8931 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ta-Yuan Cogeneration Co Business Description

Address Chaoyin North Road, No. 276, Dayuan District, Taoyuan, TWN
Ta-Yuan Cogeneration Co Ltd engages mainly in operating the cogeneration business, operating and repairing equipment, processing waste disposal, managing incinerators, and processing refuse-derived fuel. It is involved in the operation, management, and maintenance of cogeneration plants, as well as waste disposal and incinerator management. Through the development of cogeneration, the company focuses on supplying power to industrial areas and balancing peak and off-peak electricity demand. The company's reportable segments are: Plant of Cogeneration, which generates the maximum revenue, and Plant of Renewable Energy. Geographically, it operates only in Taiwan.
76GF Score

Get the complete analysis for ROCO:8931

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

NT$40.70
Price
NT$47.01
GF Value