United Integrated Services Co (TPE:2404) Cyclically Adjusted PB Ratio: (As of Aug. 24, 2026)

Author: Vera Yuan 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:2404 United Integrated Services Co Ltd TPE:2404
89 GF Score
Price NT$1,060.00
GF Value NT$634.54
Valuation Significantly Overvalued
! 1 Warning Sign
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What is United Integrated Services Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


United Integrated Services Co  (TPE:2404) 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.


United Integrated Services Co Cyclically Adjusted PB Ratio Related Terms


United Integrated Services Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for United Integrated Services 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.

United Integrated Services Co Cyclically Adjusted PB Ratio Chart

United Integrated Services 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 4.69 4.27 5.69 9.57 17.19

United Integrated Services 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 11.84 16.60 17.19 14.41 0.00

TPE:2404 vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, United Integrated Services 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.


United Integrated Services Co Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, United Integrated Services Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where United Integrated Services Co's Cyclically Adjusted PB Ratio falls into.


TPE:2404
89GF Score
United Integrated Services Co Ltd TPE:2404
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

United Integrated Services 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.

United Integrated Services Co's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, United Integrated Services 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)
=94.456/333.9520*333.9520
=94.456

Current CPI (Jun. 2026) = 333.9520.

United Integrated Services Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 32.527 241.428 44.993
201612 34.734 241.432 48.045
201703 35.551 243.801 48.697
201706 30.127 244.955 41.073
201709 32.478 246.819 43.944
201712 33.591 246.524 45.504
201803 43.032 249.554 57.585
201806 32.048 251.989 42.472
201809 38.892 252.439 51.450
201812 38.063 251.233 50.595
201903 43.133 254.202 56.665
201906 37.502 256.143 48.894
201909 40.270 256.759 52.377
201912 44.953 256.974 58.419
202003 35.198 258.115 45.540
202006 40.738 257.797 52.772
202009 47.987 260.280 61.570
202012 52.491 260.474 67.298
202103 39.615 264.877 49.946
202106 41.981 271.696 51.600
202109 47.116 274.310 57.360
202112 50.406 278.802 60.377
202203 40.194 287.504 46.688
202206 42.930 296.311 48.383
202209 50.452 296.808 56.766
202212 55.515 296.797 62.465
202303 45.752 301.836 50.620
202306 53.676 305.109 58.750
202309 61.108 307.789 66.302
202312 64.659 306.746 70.394
202403 51.015 312.332 54.546
202406 56.436 314.175 59.989
202409 67.678 315.301 71.681
202412 78.494 315.605 83.057
202503 60.692 319.799 63.378
202506 65.917 322.561 68.245
202509 83.051 324.800 85.391
202512 98.603 324.054 101.615
202603 76.156 330.213 77.018
202606 94.456 333.952 94.456

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 United Integrated Services Co (TPE:2404) Overvalued in 2026?

Based on GuruFocus' analysis, United Integrated Services Co stock appears to be overvalued. The current stock price of NT$1,060.00 is trading 67.1% above its estimated GF Value™ of NT$634.54. GuruFocus considers United Integrated Services Co to be Significantly Overvalued.

Key valuation signals for TPE:2404:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$634.54 vs. price of NT$1,060.00 (67.1% above fair value)
  • GF Score™: 89/100 with 1 warning sign

No single metric tells the full story. See the TPE:2404 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


United Integrated Services Co Business Description

Address No. 13, Qiaohe Road, 13th Floor, Zhonghe District, New Taipei, TWN, 235029
United Integrated Services Co Ltd is a Taiwan-based engineering and construction company. The company's service offerings include engineering consulting and high-tech factory planning and delivery that integrate clients' clean-room systems; heating, ventilation, and air-conditioning systems; electrical systems; instrumentation and control; process utilities telecommunication systems; and tool hook-up. The company also provides turnkey services, including planning, procurement, construction, startup/commissioning, and post-construction operation and maintenance services. Its operating segments are Engineering and Integration department; Maintenance and Design department; and Other.
89GF Score

Get the complete analysis for TPE:2404

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

NT$1,060.00
Price
NT$634.54
GF Value