Pan-International Industrial (TPE:2328) Cyclically Adjusted PB Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:2328 Pan-International Industrial Corp TPE:2328
78 GF Score
Price NT$46.40
GF Value NT$33.75
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Pan-International Industrial Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Pan-International Industrial  (TPE:2328) 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.


Pan-International Industrial Cyclically Adjusted PB Ratio Related Terms


Pan-International Industrial Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Pan-International Industrial'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.

Pan-International Industrial Cyclically Adjusted PB Ratio Chart

Pan-International Industrial 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 1.48 1.32 1.21 1.36 1.59

Pan-International Industrial 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 1.32 1.77 1.62 1.38 1.56

TPE:2328 vs APH, GLW, TEL: Cyclically Adjusted PB Ratio Comparison

For the Electronic Components subindustry, Pan-International Industrial'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.


Pan-International Industrial Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Pan-International Industrial's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Pan-International Industrial's Cyclically Adjusted PB Ratio falls into.


TPE:2328
78GF Score
Pan-International Industrial Corp TPE:2328
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pan-International Industrial 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.

Pan-International Industrial's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Pan-International Industrial'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)
=33.296/333.9520*333.9520
=33.296

Current CPI (Jun. 2026) = 333.9520.

Pan-International Industrial Quarterly Data

Book Value per Share CPI Adj_Book
201609 22.088 241.428 30.553
201612 22.399 241.432 30.983
201703 21.960 243.801 30.080
201706 22.537 244.955 30.725
201709 22.866 246.819 30.938
201712 23.133 246.524 31.337
201803 23.874 249.554 31.948
201806 23.298 251.989 30.876
201809 23.635 252.439 31.267
201812 24.140 251.233 32.088
201903 24.835 254.202 32.626
201906 23.478 256.143 30.610
201909 23.890 256.759 31.072
201912 24.266 256.974 31.535
202003 23.308 258.115 30.156
202006 22.656 257.797 29.349
202009 23.850 260.280 30.601
202012 24.671 260.474 31.631
202103 25.424 264.877 32.054
202106 25.956 271.696 31.904
202109 25.983 274.310 31.632
202112 27.190 278.802 32.568
202203 26.965 287.504 31.321
202206 26.505 296.311 29.872
202209 27.639 296.808 31.098
202212 28.493 296.797 32.060
202303 29.600 301.836 32.750
202306 28.256 305.109 30.927
202309 29.352 307.789 31.847
202312 29.610 306.746 32.236
202403 29.253 312.332 31.278
202406 29.942 314.175 31.827
202409 31.780 315.301 33.660
202412 31.805 315.605 33.654
202503 31.838 319.799 33.247
202506 29.353 322.561 30.390
202509 31.089 324.800 31.965
202512 33.286 324.054 34.303
202603 34.166 330.213 34.553
202606 33.296 333.952 33.296

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 Pan-International Industrial (TPE:2328) Overvalued in 2026?

Based on GuruFocus' analysis, Pan-International Industrial stock appears to be overvalued. The current stock price of NT$46.40 is trading 37.5% above its estimated GF Value™ of NT$33.75. GuruFocus considers Pan-International Industrial to be Significantly Overvalued.

Key valuation signals for TPE:2328:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$33.75 vs. price of NT$46.40 (37.5% above fair value)
  • GF Score™: 78/100 with 5 warning signs

No single metric tells the full story. See the TPE:2328 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pan-International Industrial Business Description

Address No. 200, Jian 8th Road, 6th Floor, Bihe Village, Zhonghe District, New Taipei, TWN
Pan-International Industrial Corp is engaged in the development, manufacturing, and sales of electronic signal cables, connectors, connection wires, precision molds, various plugs and sockets, telecommunication devices, wireless Bluetooth devices, printed circuit boards and other computer peripherals, medical device-related products, industrial control products, as well as automotive wire harnesses, automotive parts and accessories, and intelligent in-vehicle equipment.
78GF Score

Get the complete analysis for TPE:2328

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

NT$46.40
Price
NT$33.75
GF Value