West Japan Railway Co (STU:WEJ) Cyclically Adjusted PB Ratio: (As of Sep. 21, 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.

STU:WEJ West Japan Railway Co STU:WEJ
68 GF Score
Price €16.80
GF Value €18.68
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is West Japan Railway Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


West Japan Railway Co  (STU:WEJ) 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.


West Japan Railway Co Cyclically Adjusted PB Ratio Related Terms


West Japan Railway Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for West Japan Railway 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.

West Japan Railway Co Cyclically Adjusted PB Ratio Chart

West Japan Railway Co 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 0.90 0.89 0.90 0.83 0.80

West Japan Railway 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 0.88 0.85 0.77 0.79 0.68

STU:WEJ vs UNP, CSX, NSC: Cyclically Adjusted PB Ratio Comparison

For the Railroads subindustry, West Japan Railway 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.


West Japan Railway Co Cyclically Adjusted PB Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, West Japan Railway Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where West Japan Railway Co's Cyclically Adjusted PB Ratio falls into.


STU:WEJ
68GF Score
West Japan Railway Co STU:WEJ
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

West Japan Railway 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.

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

For example, West Japan Railway 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)
=16.015/113.6000*113.6000
=16.015

Current CPI (Jun. 2026) = 113.6000.

West Japan Railway Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 21.978 98.000 25.477
201612 20.834 98.400 24.052
201703 22.376 98.100 25.911
201706 21.262 98.500 24.521
201709 21.133 98.800 24.299
201712 21.304 99.400 24.347
201803 22.042 99.200 25.242
201806 22.734 99.200 26.034
201809 22.646 99.900 25.752
201812 24.324 99.700 27.715
201903 24.677 99.700 28.117
201906 25.513 99.800 29.041
201909 27.432 100.100 31.132
201912 26.923 100.500 30.432
202003 27.001 100.300 30.581
202006 24.323 99.900 27.659
202009 22.669 99.900 25.778
202012 21.292 99.300 24.358
202103 19.255 99.900 21.896
202106 18.145 99.500 20.716
202109 17.928 100.100 20.346
202112 17.724 100.100 20.114
202203 16.308 101.100 18.324
202206 16.176 101.800 18.051
202209 16.311 103.100 17.972
202212 16.623 104.100 18.140
202303 16.238 104.400 17.669
202306 15.124 105.200 16.332
202309 15.562 106.200 16.646
202312 16.167 106.800 17.196
202403 15.402 107.200 16.322
202406 14.767 108.200 15.504
202409 16.330 108.900 17.035
202412 16.394 110.700 16.823
202503 16.845 111.100 17.224
202506 16.348 111.700 16.626
202509 16.448 112.000 16.683
202512 15.711 113.000 15.794
202603 16.030 112.700 16.158
202606 16.015 113.600 16.015

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 West Japan Railway Co (STU:WEJ) Overvalued in 2026?

Based on GuruFocus' analysis, West Japan Railway Co stock appears to be undervalued. The current stock price of €16.80 is trading 10.1% below its estimated GF Value™ of €18.68. GuruFocus considers West Japan Railway Co to be Modestly Undervalued.

Key valuation signals for STU:WEJ:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €18.68 vs. price of €16.80 (10.1% below fair value)
  • GF Score™: 68/100 with 3 warning signs

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


West Japan Railway Co Business Description

Address 2-4-24 Shibata, Kita-ku, Osaka, JPN, 530-8341
West Japan Railway, or JR West, is the main railway operator in Western Japan, headquartered in Osaka. It was originally established when the government-owned nationwide railway operator underwent a six-way territorial split in 1987. Its main assets are the Sanyo Shinkansen, which stretches from Osaka to Fukuoka, and the urban rail network in the Osaka-Kobe-Kyoto metropolitan area. Its nearly 5,000 kilometers of rail track covers a third of Japan's population and a fifth of its land area. Rail operations contribute more than half of revenue, with most of the balance from retail operations, real estate investments, travel agencies, and hotels.
68GF Score

Get the complete analysis for STU:WEJ

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

€16.80
Price
€18.68
GF Value