JGC Holdings (STU:VJC) 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.
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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.

STU:VJC JGC Holdings Corp STU:VJC
68 GF Score
Price €12.80
GF Value €7.25
Valuation Significantly Overvalued
! 3 Warning Signs
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What is JGC Holdings Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


JGC Holdings  (STU:VJC) 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.


JGC Holdings Cyclically Adjusted PB Ratio Related Terms


JGC Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for JGC Holdings'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.

JGC Holdings Cyclically Adjusted PB Ratio Chart

JGC Holdings 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 0.85 0.87 0.69 0.55 1.00

JGC Holdings 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 0.56 0.66 0.79 0.99 1.06

STU:VJC vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, JGC Holdings'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.


JGC Holdings Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, JGC Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


STU:VJC
68GF Score
JGC Holdings Corp STU:VJC
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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JGC Holdings 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.

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

For example, JGC Holdings'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)
=9.503/113.6000*113.6000
=9.503

Current CPI (Jun. 2026) = 113.6000.

JGC Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201609 13.421 98.000 15.557
201612 12.867 98.400 14.855
201703 12.746 98.100 14.760
201706 11.804 98.500 13.614
201709 11.641 98.800 13.385
201712 11.756 99.400 13.435
201803 11.993 99.200 13.734
201806 12.026 99.200 13.772
201809 12.048 99.900 13.700
201812 12.549 99.700 14.299
201903 13.086 99.700 14.910
201906 12.975 99.800 14.769
201909 13.437 100.100 15.249
201912 13.142 100.500 14.855
202003 13.079 100.300 14.813
202006 13.037 99.900 14.825
202009 12.904 99.900 14.674
202012 12.838 99.300 14.687
202103 12.737 99.900 14.484
202106 10.829 99.500 12.364
202109 11.166 100.100 12.672
202112 11.211 100.100 12.723
202203 11.365 101.100 12.770
202206 11.112 101.800 12.400
202209 11.423 103.100 12.586
202212 11.633 104.100 12.695
202303 11.440 104.400 12.448
202306 10.572 105.200 11.416
202309 10.602 106.200 11.341
202312 10.702 106.800 11.383
202403 9.825 107.200 10.412
202406 9.567 108.200 10.044
202409 10.240 108.900 10.682
202412 9.659 110.700 9.912
202503 10.048 111.100 10.274
202506 9.305 111.700 9.463
202509 9.830 112.000 9.970
202512 9.671 113.000 9.722
202603 9.726 112.700 9.804
202606 9.503 113.600 9.503

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 JGC Holdings (STU:VJC) Overvalued in 2026?

Based on GuruFocus' analysis, JGC Holdings stock appears to be overvalued. The current stock price of €12.80 is trading 76.6% above its estimated GF Value™ of €7.25. GuruFocus considers JGC Holdings to be Significantly Overvalued.

Key valuation signals for STU:VJC:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €7.25 vs. price of €12.80 (76.6% above fair value)
  • GF Score™: 68/100 with 3 warning signs

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


JGC Holdings Business Description

Address 2-3-1 Minatomirai, Nishi-Ku, Kanagawa, Yokohama-shi, JPN, 220-6001
JGC Holdings Corp is a Japan-based company engaged in providing infrastructure construction services. The company operates through two segments. The Comprehensive Engineering segment provides EPC services including design, procurement, construction, and commissioning of equipment and facilities for petroleum, oil refining, petrochemicals, gas, and LNG. The Functional Materials Manufacturing segment produces and sells catalysts, nanoparticle technology products, clean and safety materials, electronic materials, high-performance ceramics, and next-generation energy solutions. The Others segment includes consulting, office support, desalination, and crude oil and gas production and sales. It generates the majority of its revenue from the Comprehensive engineering segment.
68GF Score

Get the complete analysis for STU:VJC

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

€12.80
Price
€7.25
GF Value