I-Hwa Indusstrial Co (TPE:1456) Cyclically Adjusted PB Ratio: (As of Aug. 17, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

TPE:1456 I-Hwa Indusstrial Co Ltd TPE:1456
66 GF Score
Price NT$13.85
GF Value NT$12.67
Valuation Fairly Valued
! 6 Warning Signs
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What is I-Hwa Indusstrial Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


I-Hwa Indusstrial Co  (TPE:1456) 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.


I-Hwa Indusstrial Co Cyclically Adjusted PB Ratio Related Terms


I-Hwa Indusstrial Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for I-Hwa Indusstrial 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.

I-Hwa Indusstrial Co Cyclically Adjusted PB Ratio Chart

I-Hwa Indusstrial Co 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 1.82 1.10 1.08 0.95 0.78

I-Hwa Indusstrial 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 0.79 0.73 0.78 0.78 0.00

TPE:1456 vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, I-Hwa Indusstrial 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.


I-Hwa Indusstrial Co Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, I-Hwa Indusstrial Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where I-Hwa Indusstrial Co's Cyclically Adjusted PB Ratio falls into.


TPE:1456
66GF Score
I-Hwa Indusstrial Co Ltd TPE:1456
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

I-Hwa Indusstrial 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.

I-Hwa Indusstrial Co's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, I-Hwa Indusstrial 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)
=19.697/333.9520*333.9520
=19.697

Current CPI (Jun. 2026) = 333.9520.

I-Hwa Indusstrial Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 11.255 241.428 15.568
201612 12.008 241.432 16.610
201703 12.053 243.801 16.510
201706 12.086 244.955 16.477
201709 11.891 246.819 16.089
201712 12.543 246.524 16.991
201803 12.563 249.554 16.812
201806 12.132 251.989 16.078
201809 12.077 252.439 15.977
201812 12.438 251.233 16.533
201903 12.361 254.202 16.239
201906 12.359 256.143 16.113
201909 12.287 256.759 15.981
201912 13.011 256.974 16.909
202003 12.931 258.115 16.730
202006 12.772 257.797 16.545
202009 12.645 260.280 16.224
202012 13.745 260.474 17.622
202103 15.024 264.877 18.942
202106 17.296 271.696 21.259
202109 17.303 274.310 21.065
202112 18.595 278.802 22.273
202203 18.168 287.504 21.103
202206 16.307 296.311 18.379
202209 16.008 296.808 18.011
202212 16.297 296.797 18.337
202303 15.667 301.836 17.334
202306 16.978 305.109 18.583
202309 16.859 307.789 18.292
202312 16.351 306.746 17.801
202403 15.692 312.332 16.778
202406 15.247 314.175 16.207
202409 15.085 315.301 15.977
202412 17.257 315.605 18.260
202503 16.778 319.799 17.521
202506 16.698 322.561 17.288
202509 16.237 324.800 16.695
202512 20.633 324.054 21.263
202603 20.056 330.213 20.283
202606 19.697 333.952 19.697

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 I-Hwa Indusstrial Co (TPE:1456) Overvalued in 2026?

Based on GuruFocus' analysis, I-Hwa Indusstrial Co stock appears to be overvalued. The current stock price of NT$13.85 is trading 9.3% above its estimated GF Value™ of NT$12.67. GuruFocus considers I-Hwa Indusstrial Co to be Fairly Valued.

Key valuation signals for TPE:1456:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$12.67 vs. price of NT$13.85 (9.3% above fair value)
  • GF Score™: 66/100 with 6 warning signs

No single metric tells the full story. See the TPE:1456 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


I-Hwa Indusstrial Co Business Description

Address Neihu Road, 12th Floor, Section 1, No. 392, Neihu District, Taipei, TWN
I-Hwa Indusstrial Co Ltd is principally engaged in land development and construction of houses, residential and building development and leasing, as well as manufacturing and trading of finished fabrics, woolen yarn, cotton yarn and dyestuffs, general advertising services and e-commerce. The group's revenue from the sale of premises is the majority source of income for its operations.
66GF Score

Get the complete analysis for TPE:1456

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

NT$13.85
Price
NT$12.67
GF Value