WinWay Technology Co (TPE:6515) Cyclically Adjusted PB Ratio: (As of Sep. 20, 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.
Reviewed by: Charlie Tian Charlie Tian
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:6515 WinWay Technology Co Ltd TPE:6515
83 GF Score
Price NT$6,435.00
GF Value NT$2,986.51
Valuation Significantly Overvalued
! 3 Warning Signs
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What is WinWay Technology Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


WinWay Technology Co  (TPE:6515) 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.


WinWay Technology Co Cyclically Adjusted PB Ratio Related Terms


WinWay Technology Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for WinWay Technology 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.

WinWay Technology Co Cyclically Adjusted PB Ratio Chart

WinWay Technology 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 - - - - 30.72

WinWay Technology 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 - - 30.72 75.90 84.87

TPE:6515 vs NVDA, AVGO, MU: Cyclically Adjusted PB Ratio Comparison

For the Semiconductor Equipment & Materials subindustry, WinWay Technology 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.


WinWay Technology Co Cyclically Adjusted PB Ratio vs Semiconductors Industry

For the Semiconductors industry and Technology sector, WinWay Technology Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TPE:6515
83GF Score
WinWay Technology Co Ltd TPE:6515
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

WinWay Technology 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.

WinWay Technology Co's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec25 is calculated as:

For example, WinWay Technology Co's adjusted Book Value per Share data for the fiscal year that ended in Dec25 was:

Adj_Book=Book Value per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=180.288/324.0540*324.0540
=180.288

Current CPI (Dec25) = 324.0540.

WinWay Technology Co Annual Data

Book Value per Share CPI Adj_Book
201612 32.854 241.432 44.097
201712 29.091 246.524 38.240
201812 32.864 251.233 42.390
201912 51.721 256.974 65.222
202012 57.949 260.474 72.094
202112 86.449 278.802 100.480
202212 106.999 296.797 116.825
202312 100.349 306.746 106.011
202412 154.642 315.605 158.782
202512 180.288 324.054 180.288

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 WinWay Technology Co (TPE:6515) Overvalued in 2026?

Based on GuruFocus' analysis, WinWay Technology Co stock appears to be overvalued. The current stock price of NT$6,435.00 is trading 115.5% above its estimated GF Value™ of NT$2,986.51. GuruFocus considers WinWay Technology Co to be Significantly Overvalued.

Key valuation signals for TPE:6515:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$2,986.51 vs. price of NT$6,435.00 (115.5% above fair value)
  • GF Score™: 83/100 with 3 warning signs

No single metric tells the full story. See the TPE:6515 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


WinWay Technology Co Business Description

Address Chuangyi South Road, No. 68, Nanzih District, Kaohsiung City, TWN, 811646
WinWay Technology Co Ltd company is engaged in designing, processing, and sales of optoelectronic product test fixtures, integrated circuit test interfaces and fixtures and their key components, and the import and export trade of related products. Its products are Package Test, Wafer Test, Thermal control Products. The group has one reportable segment. This segment is mainly the manufacturing and sales of optoelectronic products test fixtures. Geographically, the company has a presence in Taiwan, America, China, Asia, Europe, and Canada where it generates the majority of its revenue from America.
83GF Score

Get the complete analysis for TPE:6515

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

NT$6,435.00
Price
NT$2,986.51
GF Value