Leadtek Research (TPE:2465) 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.
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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.

TPE:2465 Leadtek Research Inc TPE:2465
69 GF Score
Price NT$91.60
GF Value NT$93.37
Valuation Fairly Valued
! 4 Warning Signs
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What is Leadtek Research Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Leadtek Research  (TPE:2465) 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.


Leadtek Research Cyclically Adjusted PB Ratio Related Terms


Leadtek Research Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Leadtek Research'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.

Leadtek Research Cyclically Adjusted PB Ratio Chart

Leadtek Research 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 6.88 3.75 6.31 7.78 6.30

Leadtek Research 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 6.20 5.70 6.34 5.60 7.56

TPE:2465 vs DELL, ANET, SNDK: Cyclically Adjusted PB Ratio Comparison

For the Computer Hardware subindustry, Leadtek Research'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.


Leadtek Research Cyclically Adjusted PB Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Leadtek Research's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TPE:2465
69GF Score
Leadtek Research Inc TPE:2465
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Leadtek Research 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.

Leadtek Research's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Leadtek Research'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)
=14.512/333.9520*333.9520
=14.512

Current CPI (Jun. 2026) = 333.9520.

Leadtek Research Quarterly Data

Book Value per Share CPI Adj_Book
201609 9.290 241.428 12.850
201612 7.951 241.432 10.998
201703 9.320 243.801 12.766
201706 9.122 244.955 12.436
201709 9.079 246.819 12.284
201712 6.433 246.524 8.714
201803 6.264 249.554 8.382
201806 5.875 251.989 7.786
201809 5.400 252.439 7.144
201812 4.945 251.233 6.573
201903 5.017 254.202 6.591
201906 4.951 256.143 6.455
201909 4.602 256.759 5.986
201912 4.691 256.974 6.096
202003 4.471 258.115 5.785
202006 4.673 257.797 6.053
202009 4.603 260.280 5.906
202012 5.197 260.474 6.663
202103 6.265 264.877 7.899
202106 9.528 271.696 11.711
202109 10.952 274.310 13.333
202112 12.343 278.802 14.785
202203 12.996 287.504 15.096
202206 9.903 296.311 11.161
202209 9.912 296.808 11.152
202212 8.352 296.797 9.398
202303 7.242 301.836 8.013
202306 6.114 305.109 6.692
202309 5.727 307.789 6.214
202312 11.632 306.746 12.664
202403 10.751 312.332 11.495
202406 9.253 314.175 9.835
202409 8.268 315.301 8.757
202412 6.729 315.605 7.120
202503 8.187 319.799 8.549
202506 6.892 322.561 7.135
202509 6.687 324.800 6.875
202512 11.566 324.054 11.919
202603 12.822 330.213 12.967
202606 14.512 333.952 14.512

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 Leadtek Research (TPE:2465) Overvalued in 2026?

Based on GuruFocus' analysis, Leadtek Research stock appears to be undervalued. The current stock price of NT$91.60 is trading 1.9% below its estimated GF Value™ of NT$93.37. GuruFocus considers Leadtek Research to be Fairly Valued.

Key valuation signals for TPE:2465:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$93.37 vs. price of NT$91.60 (1.9% below fair value)
  • GF Score™: 69/100 with 4 warning signs

No single metric tells the full story. See the TPE:2465 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Leadtek Research Business Description

Address No. 166, Jian 1st Road, 18th Floor, Zhonghe District, New Taipei City, TWN
Leadtek Research Inc is the design, manufacturing, and trading of communication devices, computers, communications, telecommunications, and peripheral equipment. Company has two reportable segments: the computer product department and the smart healthcare department. The products offered by the company include computer entertainment graphics cards, AI Inference devices, AI cloud supercomputing workstations, GPU-based AI workstations, servers, and professional graphics cards (WinFast/RTX). The company has expanded beyond computer hardware into smart medical healthcare, offering AI-driven diagnostic devices, wearable ECG monitors, and health management platforms and others. Geographically, company's regional market includes Mainland China, Taiwan, USA, Hong Kong, Korea and other countries.
69GF Score

Get the complete analysis for TPE:2465

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

NT$91.60
Price
NT$93.37
GF Value