Zozo (SATLF) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.

SATLF Zozo Inc SATLF
84 GF Score
Price $6.57
GF Value $9.69
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Zozo Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Zozo  (OTCPK:SATLF) 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.


Zozo Cyclically Adjusted PB Ratio Related Terms


Zozo Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Zozo'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.

Zozo Cyclically Adjusted PB Ratio Chart

Zozo Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 29.16 21.50 20.88 20.03 13.39

Zozo 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 24.49 20.29 17.39 15.20 14.36

SATLF vs AMZN, BABA, PDD: Cyclically Adjusted PB Ratio Comparison

For the Internet Retail subindustry, Zozo'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.


Zozo Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry

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

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


SATLF
84GF Score
Zozo Inc SATLF
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Zozo 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.

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

For example, Zozo'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)
=0.688/113.6000*113.6000
=0.688

Current CPI (Jun. 2026) = 113.6000.

Zozo Quarterly Data

Book Value per Share CPI Adj_Book
201609 0.242 98.000 0.281
201612 0.248 98.400 0.286
201703 0.287 98.100 0.332
201706 0.290 98.500 0.334
201709 0.324 98.800 0.373
201712 0.352 99.400 0.402
201803 0.410 99.200 0.470
201806 0.147 99.200 0.168
201809 0.166 99.900 0.189
201812 0.201 99.700 0.229
201903 0.223 99.700 0.254
201906 0.252 99.800 0.287
201909 0.277 100.100 0.314
201912 0.281 100.500 0.318
202003 0.349 100.300 0.395
202006 0.368 99.900 0.418
202009 0.447 99.900 0.508
202012 0.512 99.300 0.586
202103 0.548 99.900 0.623
202106 0.247 99.500 0.282
202109 0.433 100.100 0.491
202112 0.456 100.100 0.517
202203 0.505 101.100 0.567
202206 0.445 101.800 0.497
202209 0.489 103.100 0.539
202212 0.577 104.100 0.630
202303 0.641 104.400 0.697
202306 0.583 105.200 0.630
202309 0.635 106.200 0.679
202312 0.612 106.800 0.651
202403 0.629 107.200 0.667
202406 0.556 108.200 0.584
202409 0.703 108.900 0.733
202412 0.635 110.700 0.652
202503 0.741 111.100 0.758
202506 0.690 111.700 0.702
202509 0.727 112.000 0.737
202512 0.690 113.000 0.694
202603 0.759 112.700 0.765
202606 0.688 113.600 0.688

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 Zozo (SATLF) Overvalued in 2026?

Based on GuruFocus' analysis, Zozo stock appears to be undervalued. The current stock price of $6.57 is trading 32.2% below its estimated GF Value™ of $9.69. GuruFocus considers Zozo to be Significantly Undervalued.

Key valuation signals for SATLF:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: $9.69 vs. price of $6.57 (32.2% below fair value)
  • GF Score™: 84/100 with 2 warning signs

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


Zozo Business Description

Address 1-15-16 Midori-cho, Inage-ku, Chiba, JPN, 263-0023
Zozo, established in 1998 by Yusaku Maezawa, operates Zozotown, Japan's largest fashion e-commerce platform. Zozotown runs primarily on a consignment model, where brands stock products at Zozo's logistics bases and operate shops as tenants. As of 2025, Zozotown hosts over 11,000 brands and 12.5 million active users. Beyond its core domestic business, Zozo is expanding into adjacent categories such as skincare, cosmetics, and fragrance (near fashion), and internationally through Lyst, a UK-based luxury fashion platform acquired in 2025, and Zozofit, a body measurement app.
84GF Score

Get the complete analysis for SATLF

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

$6.57
Price
$9.69
GF Value