Shui-Mu International Co (TPE:8443) Cyclically Adjusted PB Ratio: (As of Aug. 04, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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TPE:8443 Shui-Mu International Co Ltd TPE:8443
66 GF Score
Price NT$11.50
GF Value NT$11.17
Valuation Fairly Valued
! 4 Warning Signs
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What is Shui-Mu International Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Shui-Mu International Co  (TPE:8443) 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.


Shui-Mu International Co Cyclically Adjusted PB Ratio Related Terms


Shui-Mu International Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Shui-Mu International 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.

Shui-Mu International Co Cyclically Adjusted PB Ratio Chart

Shui-Mu International 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 0.00 0.42 0.48 0.48 0.51

Shui-Mu International Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.49 0.53 0.54 0.51 0.00

TPE:8443 vs NKE, DECK, ONON: Cyclically Adjusted PB Ratio Comparison

For the Footwear & Accessories subindustry, Shui-Mu International 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.


Shui-Mu International Co Cyclically Adjusted PB Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Shui-Mu International Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Shui-Mu International Co's Cyclically Adjusted PB Ratio falls into.


TPE:8443
66GF Score
Shui-Mu International Co Ltd TPE:8443
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Shui-Mu International 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.

Shui-Mu International Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Shui-Mu International Co's adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=9.615/330.2130*330.2130
=9.615

Current CPI (Mar. 2026) = 330.2130.

Shui-Mu International Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 24.323 241.018 33.324
201609 24.044 241.428 32.886
201612 24.297 241.432 33.232
201703 23.660 243.801 32.046
201706 22.833 244.955 30.780
201709 22.649 246.819 30.302
201712 23.459 246.524 31.423
201803 23.629 249.554 31.266
201806 23.427 251.989 30.699
201809 23.232 252.439 30.390
201812 23.486 251.233 30.869
201903 23.499 254.202 30.526
201906 22.755 256.143 29.335
201909 22.365 256.759 28.763
201912 22.269 256.974 28.616
202003 21.281 258.115 27.225
202006 20.680 257.797 26.489
202009 19.972 260.280 25.338
202012 19.329 260.474 24.504
202103 18.453 264.877 23.005
202106 17.104 271.696 20.788
202109 15.888 274.310 19.126
202112 15.241 278.802 18.051
202203 15.299 287.504 17.572
202206 14.099 296.311 15.712
202209 13.248 296.808 14.739
202212 12.197 296.797 13.570
202303 12.216 301.836 13.364
202306 12.291 305.109 13.302
202309 12.419 307.789 13.324
202312 12.451 306.746 13.404
202403 12.611 312.332 13.333
202406 12.245 314.175 12.870
202409 11.743 315.301 12.298
202412 11.640 315.605 12.179
202503 11.655 319.799 12.035
202506 10.946 322.561 11.206
202509 10.302 324.800 10.474
202512 9.985 324.054 10.175
202603 9.615 330.213 9.615

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 Shui-Mu International Co (TPE:8443) Overvalued in 2026?

Based on GuruFocus' analysis, Shui-Mu International Co stock appears to be overvalued. The current stock price of NT$11.50 is trading 3% above its estimated GF Value™ of NT$11.17. GuruFocus considers Shui-Mu International Co to be Fairly Valued.

Key valuation signals for TPE:8443:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: NT$11.17 vs. price of NT$11.50 (3% above fair value)
  • GF Score™: 66/100 with 4 warning signs

No single metric tells the full story. See the TPE:8443 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Shui-Mu International Co Business Description

Address Songjiang Road, 6th Floor, No.168, Zhongshan District, Taipei, TWN
Shui-Mu International Co Ltd is a Taiwan-based shoe retailing company, engaged in the wholesale and retail of shoes and bags. Its primary geographic market is Taiwan.
66GF Score

Get the complete analysis for TPE:8443

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

NT$11.50
Price
NT$11.17
GF Value