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Harmonic Drive SystemsSTU:K3R -4.40%78 Cyclically Adjusted PB Ratio is 6.10 as of Aug. 12, 2026, which is 19% below its 10-year median of 7.56. GuruFocus rates STU:K3R with a GF Score™ of 78/100 and a GF Value™ of €21.79 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 2,234 Industrial Products companies, Harmonic Drive Systems ranks worse than 85.54% on this metric.
The historical rank and industry rank for Harmonic Drive Systems's Cyclically Adjusted PB Ratio or its related term are showing as below:
STU:K3R'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.01 Med: 7.56 Max: 23.83
Current: 7.08
During the past years, Harmonic Drive Systems's highest Cyclically Adjusted PB Ratio was 23.83. The lowest was 2.01. And the median was 7.56.
STU:K3R's Cyclically Adjusted PB Ratio is ranked worse than 85.54% of 2234
companies
in the Industrial Products industry
Industry Median: 2.185
vs STU:K3R: 7.08
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.
Harmonic Drive Systems's adjusted book value per share data for the three months ended in Mar. 2026 was €4.629. 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 €5.66 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Harmonic Drive Systems (STU:K3R) 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.
Harmonic Drive Systems Cyclically Adjusted PB Ratio Related Terms
Harmonic Drive Systems Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Harmonic Drive Systems'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.
Harmonic Drive Systems Cyclically Adjusted PB Ratio Chart
STU:K3R vs GEV, ETN, PH: Cyclically Adjusted PB Ratio Comparison
For the Specialty Industrial Machinery subindustry, Harmonic Drive Systems'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.
Harmonic Drive Systems Cyclically Adjusted PB Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Harmonic Drive Systems's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Harmonic Drive Systems's Cyclically Adjusted PB Ratio falls into.
Harmonic Drive Systems 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.
* 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.
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 6.10 mean?
Harmonic Drive Systems (STU:K3R) has a Cyclically Adjusted PB Ratio of 6.10 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 Harmonic Drive Systems and its competitors. This is 19% below median its historical median of 7.56. Over the past decade, Harmonic Drive Systems' Cyclically Adjusted PB Ratio has ranged from 2.01 to 23.83. According to the industry distribution chart, Harmonic Drive Systems ranks #1911 out of 2234 companies in the Industrial Products industry, placing it in the top 85.5%.
Is Harmonic Drive Systems' Cyclically Adjusted PB Ratio too high?
Harmonic Drive Systems' current Cyclically Adjusted PB Ratio of 6.10 is 19% below median its 10-year median of 7.56. Over the past 10 years, this metric has ranged from a low of 2.01 to a high of 23.83. The Industrial Products industry median Cyclically Adjusted PB Ratio is 2.19. Harmonic Drive Systems' value of 6.10 is 179.2% above this industry median. Based on the distribution chart, Harmonic Drive Systems ranks #1911 out of 2234 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Harmonic Drive Systems has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harmonic Drive Systems' Cyclically Adjusted PB Ratio compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Harmonic Drive Systems ranks #1911 out of 2234 companies for Cyclically Adjusted PB Ratio. This places Harmonic Drive Systems in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.19. Harmonic Drive Systems' value of 6.10 is 179.2% above this benchmark. Historically, Harmonic Drive Systems' own Cyclically Adjusted PB Ratio has ranged from 2.01 to 23.83 over the past decade. While the company's 10-year median is 7.56 vs. the industry median of 2.19, Harmonic Drive Systems 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 an Industrial Products company?
The median Cyclically Adjusted PB Ratio among Industrial Products companies is 2.19, based on 2,234 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. Harmonic Drive Systems's current Cyclically Adjusted PB Ratio of 6.10 is 179.2% 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 Harmonic Drive Systems and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PB Ratio is 2.19 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmonic Drive Systems's current Cyclically Adjusted PB Ratio is 6.10, which is 19% below median its own 10-year median of 7.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmonic Drive Systems stock overvalued right now?
Based on GuruFocus' analysis, Harmonic Drive Systems (STU:K3R) is currently considered Significantly Overvalued. The stock's GF Value™ is €21.79, compared to a current price of €34.51 — trading 58.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 6.10, which is 19% below median its 10-year median of 7.56 and 179.2% above the Industrial Products industry median of 2.19. Harmonic Drive Systems' overall GF Score™ is 78/100 with 5 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 Harmonic Drive Systems (STU:K3R), the current Cyclically Adjusted PB Ratio is 6.10 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 Harmonic Drive Systems (STU:K3R) Overvalued in 2026?
Based on GuruFocus' analysis, Harmonic Drive Systems stock appears to be overvalued.
The current stock price of €34.51 is trading 58.4% above its estimated GF Value™ of €21.79.
GuruFocus considers Harmonic Drive Systems to be Significantly Overvalued.
Key valuation signals for STU:K3R:
Cyclically Adjusted PB Ratio: 6.10 (19% below median its 10-year median of 7.56)
GF Value™: €21.79 vs. price of €34.51 (58.4% above fair value)
Industry Position: 179.2% above the Industrial Products median (#1911 of 2234)
No single metric tells the full story. See the STU:K3R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmonic Drive Systems manufactures and sells high-precision reduction gears (harmonic reducers) under the Harmonic Drive brand as well as other mechatronics products, including rotary actuators, linear actuators, and AC servo motors. The company also provides planetary gear speed reducers under the AccuDrive and Harmonic Planetary brands. Its products are used in industrial robots, semiconductor production equipment, and other high-precision equipment. HDS was founded in 1970 and is headquartered in Tokyo, Japan.
78GF Score
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