KY Paiho Shih Holdings (TPE:8404) Cyclically Adjusted PB Ratio: 0.96 (As of Jul. 30, 2026) — 39% Below Median

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:8404 KY Paiho Shih Holdings Corp TPE:8404
70 GF Score
Price NT$16.35
GF Value NT$22.60
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is KY Paiho Shih Holdings Cyclically Adjusted PB Ratio?

KY Paiho Shih Holdings TPE:8404 -1.51% 70 Cyclically Adjusted PB Ratio is 0.96 as of Jul. 30, 2026, which is 39% below its 10-year median of 1.58. GuruFocus rates TPE:8404 with a GF Score™ of 70/100 and a GF Value™ of NT$22.60 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 866 Manufacturing - Apparel & Accessories companies, KY Paiho Shih Holdings ranks worse than 50.23% on this metric.

As of today (2026-07-30), KY Paiho Shih Holdings's current share price is NT$16.35. KY Paiho Shih Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was NT$17.02. KY Paiho Shih Holdings's Cyclically Adjusted PB Ratio for today is 0.96.

The historical rank and industry rank for KY Paiho Shih Holdings's Cyclically Adjusted PB Ratio or its related term are showing as below:

TPE:8404' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.95   Med: 1.58   Max: 3.51
Current: 0.98

During the past years, KY Paiho Shih Holdings's highest Cyclically Adjusted PB Ratio was 3.51. The lowest was 0.95. And the median was 1.58.

TPE:8404's Cyclically Adjusted PB Ratio is ranked worse than
50.23% of 866 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.965 vs TPE:8404: 0.98

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

KY Paiho Shih Holdings's adjusted book value per share data for the three months ended in Dec. 2025 was NT$17.150. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is NT$17.02 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


KY Paiho Shih Holdings  (TPE:8404) 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.


KY Paiho Shih Holdings Cyclically Adjusted PB Ratio Related Terms


KY Paiho Shih Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for KY Paiho Shih Holdings'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.

KY Paiho Shih Holdings Cyclically Adjusted PB Ratio Chart

KY Paiho Shih Holdings 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 2.17 1.50 1.17 1.60 1.36

KY Paiho Shih Holdings Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 1.60 1.51 1.13 1.48 1.36

TPE:8404 vs NKE, DECK, ONON: Cyclically Adjusted PB Ratio Comparison

For the Footwear & Accessories subindustry, KY Paiho Shih Holdings'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.


KY Paiho Shih Holdings Cyclically Adjusted PB Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, KY Paiho Shih Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where KY Paiho Shih Holdings's Cyclically Adjusted PB Ratio falls into.


TPE:8404
70GF Score
KY Paiho Shih Holdings Corp TPE:8404
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

KY Paiho Shih Holdings 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.

KY Paiho Shih Holdings's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=16.35/17.02
=0.96

* 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.

KY Paiho Shih Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, KY Paiho Shih Holdings's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book=Book Value per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=17.15/324.0540*324.0540
=17.150

Current CPI (Dec. 2025) = 324.0540.

KY Paiho Shih Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201603 12.465 238.132 16.963
201606 12.240 241.018 16.457
201609 12.109 241.428 16.253
201612 12.145 241.432 16.301
201703 11.907 243.801 15.826
201706 12.362 244.955 16.354
201709 12.930 246.819 16.976
201712 13.330 246.524 17.522
201803 13.959 249.554 18.126
201806 13.541 251.989 17.414
201809 12.806 252.439 16.439
201812 13.430 251.233 17.323
201903 14.271 254.202 18.193
201906 15.042 256.143 19.030
201909 13.510 256.759 17.051
201912 13.702 256.974 17.279
202003 13.450 258.115 16.886
202006 13.555 257.797 17.039
202009 14.253 260.280 17.745
202012 15.289 260.474 19.021
202103 15.308 264.877 18.728
202106 16.857 271.696 20.105
202109 17.233 274.310 20.358
202112 16.589 278.802 19.282
202203 15.423 287.504 17.384
202206 16.150 296.311 17.662
202209 16.315 296.808 17.813
202212 15.587 296.797 17.018
202303 15.303 301.836 16.429
202306 13.681 305.109 14.530
202309 14.100 307.789 14.845
202312 13.905 306.746 14.690
202403 14.746 312.332 15.299
202406 15.160 314.175 15.637
202409 15.604 315.301 16.037
202412 15.743 315.605 16.164
202503 16.414 319.799 16.632
202506 14.834 322.561 14.903
202509 15.953 324.800 15.916
202512 17.150 324.054 17.150

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.

What does a Cyclically Adjusted PB Ratio of 0.96 mean?
KY Paiho Shih Holdings (TPE:8404) has a Cyclically Adjusted PB Ratio of 0.96 as of Jul. 30, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on KY Paiho Shih Holdings and its competitors. This is 39% below median its historical median of 1.58. Over the past decade, KY Paiho Shih Holdings' Cyclically Adjusted PB Ratio has ranged from 0.95 to 3.51. According to the industry distribution chart, KY Paiho Shih Holdings ranks #435 out of 866 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 50.2%.
Is KY Paiho Shih Holdings' Cyclically Adjusted PB Ratio too high?
KY Paiho Shih Holdings' current Cyclically Adjusted PB Ratio of 0.96 is 39% below median its 10-year median of 1.58. Over the past 10 years, this metric has ranged from a low of 0.95 to a high of 3.51. The Manufacturing - Apparel & Accessories industry median Cyclically Adjusted PB Ratio is 0.97. KY Paiho Shih Holdings' value of 0.96 is 0.5% below this industry median. Based on the distribution chart, KY Paiho Shih Holdings ranks #435 out of 866 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, KY Paiho Shih Holdings has a GF Score™ of 70/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does KY Paiho Shih Holdings' Cyclically Adjusted PB Ratio compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, KY Paiho Shih Holdings ranks #435 out of 866 companies for Cyclically Adjusted PB Ratio. This places KY Paiho Shih Holdings in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.97. KY Paiho Shih Holdings' value of 0.96 is 0.5% below this benchmark. Historically, KY Paiho Shih Holdings' own Cyclically Adjusted PB Ratio has ranged from 0.95 to 3.51 over the past decade. While the company's 10-year median is 1.58 vs. the industry median of 0.97, KY Paiho Shih Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Manufacturing - Apparel & Accessories company?
The median Cyclically Adjusted PB Ratio among Manufacturing - Apparel & Accessories companies is 0.97, based on 866 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. KY Paiho Shih Holdings's current Cyclically Adjusted PB Ratio of 0.96 is 0.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on KY Paiho Shih Holdings and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Cyclically Adjusted PB Ratio is 0.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KY Paiho Shih Holdings's current Cyclically Adjusted PB Ratio is 0.96, which is 39% below median its own 10-year median of 1.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KY Paiho Shih Holdings stock overvalued right now?
Based on GuruFocus' analysis, KY Paiho Shih Holdings (TPE:8404) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$22.60, compared to a current price of NT$16.35 — trading 27.7% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.96, which is 39% below median its 10-year median of 1.58 and 0.5% below the Manufacturing - Apparel & Accessories industry median of 0.97. KY Paiho Shih Holdings' overall GF Score™ is 70/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For KY Paiho Shih Holdings (TPE:8404), the current Cyclically Adjusted PB Ratio is 0.96 as of Jul. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is KY Paiho Shih Holdings (TPE:8404) Overvalued in 2026?

Based on GuruFocus' analysis, KY Paiho Shih Holdings stock appears to be undervalued. The current stock price of NT$16.35 is trading 27.7% below its estimated GF Value™ of NT$22.60. GuruFocus considers KY Paiho Shih Holdings to be Modestly Undervalued.

Key valuation signals for TPE:8404:

  • Cyclically Adjusted PB Ratio: 0.96 (39% below median its 10-year median of 1.58)
  • GF Value™: NT$22.60 vs. price of NT$16.35 (27.7% below fair value)
  • GF Score™: 70/100 with 6 warning signs
  • Industry Position: 0.5% below the Manufacturing - Apparel & Accessories median (#435 of 866)

No single metric tells the full story. See the TPE:8404 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


KY Paiho Shih Holdings Business Description

Address No. 575 Ho Kang Road, Ho Mei Town, Changhua Hsien, TWN
KY Paiho Shih Holdings Corp is a textile company involved in the research and development, manufacturing, and sales of main and auxiliary materials and accessories products. It manufactures materials for footwear, garment, and medical industries. The company operates in two segments that are Production and Construction. Its products include Jacquard engineered Mesh, webbing (shoelaces), Premises (including parking space), Touch fastener, Elastic, Other, etc. The company operates in China and Vietnam, out of which of its revenue is generated from China.
70GF Score

Get the complete analysis for TPE:8404

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

NT$16.35
Price
NT$22.60
GF Value