Kedge Construction Co (TPE:2546) Cyclically Adjusted PB Ratio: (As of Aug. 18, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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TPE:2546 Kedge Construction Co Ltd TPE:2546
94 GF Score
Price NT$105.00
GF Value NT$99.51
Valuation Fairly Valued
! 5 Warning Signs
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What is Kedge Construction Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Kedge Construction Co  (TPE:2546) 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.


Kedge Construction Co Cyclically Adjusted PB Ratio Related Terms


Kedge Construction Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kedge Construction 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.

Kedge Construction Co Cyclically Adjusted PB Ratio Chart

Kedge Construction 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 1.95 2.00 2.94 2.38 2.87

Kedge Construction 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 2.67 2.96 2.87 2.51 0.00

TPE:2546 vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, Kedge Construction 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.


Kedge Construction Co Cyclically Adjusted PB Ratio vs Construction Industry

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

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


TPE:2546
94GF Score
Kedge Construction Co Ltd TPE:2546
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kedge Construction 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.

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

For example, Kedge Construction 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)
=44.707/333.9520*333.9520
=44.707

Current CPI (Jun. 2026) = 333.9520.

Kedge Construction Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 14.446 241.428 19.982
201612 15.142 241.432 20.945
201703 15.534 243.801 21.278
201706 15.112 244.955 20.602
201709 15.662 246.819 21.191
201712 16.106 246.524 21.818
201803 16.625 249.554 22.247
201806 15.859 251.989 21.017
201809 16.780 252.439 22.198
201812 17.326 251.233 23.031
201903 18.086 254.202 23.760
201906 17.501 256.143 22.817
201909 18.105 256.759 23.548
201912 18.750 256.974 24.367
202003 18.668 258.115 24.153
202006 18.622 257.797 24.123
202009 20.131 260.280 25.829
202012 20.994 260.474 26.916
202103 22.230 264.877 28.027
202106 24.130 271.696 29.659
202109 22.870 274.310 27.843
202112 24.017 278.802 28.768
202203 24.877 287.504 28.896
202206 23.713 296.311 26.725
202209 24.963 296.808 28.087
202212 28.636 296.797 32.221
202303 29.839 301.836 33.014
202306 29.019 305.109 31.762
202309 30.274 307.789 32.847
202312 32.873 306.746 35.789
202403 30.639 312.332 32.760
202406 32.583 314.175 34.634
202409 33.664 315.301 35.655
202412 36.531 315.605 38.655
202503 35.309 319.799 36.872
202506 36.893 322.561 38.196
202509 38.829 324.800 39.923
202512 41.270 324.054 42.531
202603 42.375 330.213 42.855
202606 44.707 333.952 44.707

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 Kedge Construction Co (TPE:2546) Overvalued in 2026?

Based on GuruFocus' analysis, Kedge Construction Co stock appears to be overvalued. The current stock price of NT$105.00 is trading 5.5% above its estimated GF Value™ of NT$99.51. GuruFocus considers Kedge Construction Co to be Fairly Valued.

Key valuation signals for TPE:2546:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$99.51 vs. price of NT$105.00 (5.5% above fair value)
  • GF Score™: 94/100 with 5 warning signs

No single metric tells the full story. See the TPE:2546 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kedge Construction Co Business Description

Address Heping E. Road, Section 3, 6th Floor, Number 131, Taipei, TWN
Kedge Construction Co Ltd operates in the contracting business of residential property and public construction. The projects of the company are in areas of Collective Housing, Department Store, Institutional School, Technology Factory Office, Biotech Medical, and Civil Engineering. The company's reportable operating segment only is the construction segment.
94GF Score

Get the complete analysis for TPE:2546

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

NT$105.00
Price
NT$99.51
GF Value