TRK (TPE:1432) Cyclically Adjusted PB Ratio: 0.80 (As of Aug. 05, 2026) — 21% Above Median

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TPE:1432 TRK Corp TPE:1432
65 GF Score
Price NT$15.05
GF Value NT$14.52
Valuation Fairly Valued
! 6 Warning Signs
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What is TRK Cyclically Adjusted PB Ratio?

TRK TPE:1432 +0.33% 65 Cyclically Adjusted PB Ratio is 0.80 as of Aug. 05, 2026, which is 21% above its 10-year median of 0.66. GuruFocus rates TPE:1432 with a GF Score™ of 65/100 and a GF Value™ of NT$14.52 (Fairly Valued). The stock has 6 warning signs investors should review. Among 643 Travel & Leisure companies, TRK ranks better than 64.7% on this metric.

As of today (2026-08-05), TRK's current share price is NT$15.05. TRK's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was NT$18.89. TRK's Cyclically Adjusted PB Ratio for today is 0.80.

The historical rank and industry rank for TRK's Cyclically Adjusted PB Ratio or its related term are showing as below:

TPE:1432' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.35   Med: 0.66   Max: 1.03
Current: 0.8

During the past years, TRK's highest Cyclically Adjusted PB Ratio was 1.03. The lowest was 0.35. And the median was 0.66.

TPE:1432's Cyclically Adjusted PB Ratio is ranked better than
64.7% of 643 companies
in the Travel & Leisure industry
Industry Median: 1.22 vs TPE:1432: 0.80

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.

TRK's adjusted book value per share data for the three months ended in Mar. 2026 was NT$14.804. 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 NT$18.89 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


TRK  (TPE:1432) 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.


TRK Cyclically Adjusted PB Ratio Related Terms


TRK Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for TRK'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.

TRK Cyclically Adjusted PB Ratio Chart

TRK 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 0.46 0.47 0.78 0.97 0.95

TRK Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.81 0.82 0.87 0.95 0.92

TPE:1432 vs AS, HAS, LTH: Cyclically Adjusted PB Ratio Comparison

For the Leisure subindustry, TRK'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.


TRK Cyclically Adjusted PB Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, TRK's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TPE:1432
65GF Score
TRK Corp TPE:1432
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TRK 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.

TRK's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=15.05/18.89
=0.80

* 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.

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

For example, TRK's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=14.804/330.2130*330.2130
=14.804

Current CPI (Mar. 2026) = 330.2130.

TRK Quarterly Data

Book Value per Share CPI Adj_Book
201606 31.178 241.018 42.716
201609 28.232 241.428 38.614
201612 27.328 241.432 37.377
201703 26.114 243.801 35.370
201706 25.063 244.955 33.786
201709 24.035 246.819 32.156
201712 25.210 246.524 33.768
201803 24.739 249.554 32.735
201806 24.070 251.989 31.542
201809 23.451 252.439 30.676
201812 22.190 251.233 29.166
201903 21.307 254.202 27.678
201906 20.535 256.143 26.473
201909 18.742 256.759 24.104
201912 14.494 256.974 18.625
202003 13.275 258.115 16.983
202006 13.461 257.797 17.242
202009 14.341 260.280 18.194
202012 10.447 260.474 13.244
202103 10.335 264.877 12.884
202106 9.157 271.696 11.129
202109 8.415 274.310 10.130
202112 8.655 278.802 10.251
202203 8.736 287.504 10.034
202206 7.663 296.311 8.540
202209 8.137 296.808 9.053
202212 8.107 296.797 9.020
202303 8.428 301.836 9.220
202306 8.744 305.109 9.463
202309 8.832 307.789 9.475
202312 8.653 306.746 9.315
202403 8.538 312.332 9.027
202406 9.497 314.175 9.982
202409 9.487 315.301 9.936
202412 9.215 315.605 9.642
202503 9.418 319.799 9.725
202506 8.616 322.561 8.820
202509 9.017 324.800 9.167
202512 15.423 324.054 15.716
202603 14.804 330.213 14.804

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.

What does a Cyclically Adjusted PB Ratio of 0.80 mean?
TRK (TPE:1432) has a Cyclically Adjusted PB Ratio of 0.80 as of Aug. 05, 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 TRK and its competitors. This is 21% above median its historical median of 0.66. Over the past decade, TRK's Cyclically Adjusted PB Ratio has ranged from 0.35 to 1.03. According to the industry distribution chart, TRK ranks #227 out of 643 companies in the Travel & Leisure industry, placing it in the top 35.3%.
Is TRK's Cyclically Adjusted PB Ratio too high?
TRK's current Cyclically Adjusted PB Ratio of 0.80 is 21% above median its 10-year median of 0.66. Over the past 10 years, this metric has ranged from a low of 0.35 to a high of 1.03. The Travel & Leisure industry median Cyclically Adjusted PB Ratio is 1.22. TRK's value of 0.80 is 34.4% below this industry median. Based on the distribution chart, TRK ranks #227 out of 643 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, TRK has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does TRK's Cyclically Adjusted PB Ratio compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, TRK ranks #227 out of 643 companies for Cyclically Adjusted PB Ratio. This puts TRK in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.22. TRK's value of 0.80 is 34.4% below this benchmark. Historically, TRK's own Cyclically Adjusted PB Ratio has ranged from 0.35 to 1.03 over the past decade. While the company's 10-year median is 0.66 vs. the industry median of 1.22, TRK has consistently been below 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 a Travel & Leisure company?
The median Cyclically Adjusted PB Ratio among Travel & Leisure companies is 1.22, based on 643 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. TRK's current Cyclically Adjusted PB Ratio of 0.80 is 34.4% below 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 TRK and its competitors. For the Travel & Leisure industry, the median Cyclically Adjusted PB Ratio is 1.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TRK's current Cyclically Adjusted PB Ratio is 0.80, which is 21% above median its own 10-year median of 0.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TRK stock overvalued right now?
Based on GuruFocus' analysis, TRK (TPE:1432) is currently considered Fairly Valued. The stock's GF Value™ is NT$14.52, compared to a current price of NT$15.05 — trading 3.7% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.80, which is 21% above median its 10-year median of 0.66 and 34.4% below the Travel & Leisure industry median of 1.22. TRK's overall GF Score™ is 65/100 with 6 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 TRK (TPE:1432), the current Cyclically Adjusted PB Ratio is 0.80 as of Aug. 05, 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 TRK (TPE:1432) Overvalued in 2026?

Based on GuruFocus' analysis, TRK stock appears to be overvalued. The current stock price of NT$15.05 is trading 3.7% above its estimated GF Value™ of NT$14.52. GuruFocus considers TRK to be Fairly Valued.

Key valuation signals for TPE:1432:

  • Cyclically Adjusted PB Ratio: 0.80 (21% above median its 10-year median of 0.66)
  • GF Value™: NT$14.52 vs. price of NT$15.05 (3.7% above fair value)
  • GF Score™: 65/100 with 6 warning signs
  • Industry Position: 34.4% below the Travel & Leisure median (#227 of 643)

No single metric tells the full story. See the TPE:1432 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TRK Business Description

Address No 186, Sec 4, Fusing Road, East District, Taichung, TWN
TRK Corp, formerly Taroko Co Ltd is engaged in the development business of department stores and shopping centres, recreational activities venue business, other leisure services, retail services of educational and entertainment materials, and international trading business. The company segments include: Strategic business segment, Construction segment, Shopping centres development segment, and Leisure and recreation segment. It earns maximum revenue from the Leisure and recreation segment.
65GF Score

Get the complete analysis for TPE:1432

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

NT$15.05
Price
NT$14.52
GF Value