Fulgent Sun International (Holding) Co (TPE:9802) Cyclically Adjusted PB Ratio: 1.14 (As of Aug. 04, 2026) — 49% 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:9802 Fulgent Sun International (Holding) Co Ltd TPE:9802
81 GF Score
Price NT$69.70
GF Value NT$112.12
Valuation Significantly Undervalued
! 6 Warning Signs
View Full Analysis

What is Fulgent Sun International (Holding) Co Cyclically Adjusted PB Ratio?

Fulgent Sun International (Holding) Co TPE:9802 -3.19% 81 Cyclically Adjusted PB Ratio is 1.14 as of Aug. 04, 2026, which is 49% below its 10-year median of 2.24. GuruFocus rates TPE:9802 with a GF Score™ of 81/100 and a GF Value™ of NT$112.12 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 859 Manufacturing - Apparel & Accessories companies, Fulgent Sun International (Holding) Co ranks worse than 56.93% on this metric.

As of today (2026-08-04), Fulgent Sun International (Holding) Co's current share price is NT$69.70. Fulgent Sun International (Holding) Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was NT$61.29. Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio for today is 1.14.

The historical rank and industry rank for Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

TPE:9802' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.17   Med: 2.24   Max: 3.81
Current: 1.17

During the past years, Fulgent Sun International (Holding) Co's highest Cyclically Adjusted PB Ratio was 3.81. The lowest was 1.17. And the median was 2.24.

TPE:9802's Cyclically Adjusted PB Ratio is ranked worse than
56.93% of 859 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.96 vs TPE:9802: 1.17

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.

Fulgent Sun International (Holding) Co's adjusted book value per share data for the three months ended in Mar. 2026 was NT$67.470. 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$61.29 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Fulgent Sun International (Holding) Co  (TPE:9802) 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.


Fulgent Sun International (Holding) Co Cyclically Adjusted PB Ratio Related Terms


Fulgent Sun International (Holding) Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Fulgent Sun International (Holding) 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.

Fulgent Sun International (Holding) Co Cyclically Adjusted PB Ratio Chart

Fulgent Sun International (Holding) 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 2.04 2.95 2.44 2.08 1.70

Fulgent Sun International (Holding) 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 2.05 1.77 1.68 1.70 1.26

TPE:9802 vs NKE, DECK, ONON: Cyclically Adjusted PB Ratio Comparison

For the Footwear & Accessories subindustry, Fulgent Sun International (Holding) 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.


Fulgent Sun International (Holding) Co Cyclically Adjusted PB Ratio vs Manufacturing - Apparel & Accessories Industry

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

* The bar in red indicates where Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio falls into.


TPE:9802
81GF Score
Fulgent Sun International (Holding) Co Ltd TPE:9802
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Fulgent Sun International (Holding) 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.

Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=69.70/61.29
=1.14

* 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.

Fulgent Sun International (Holding) Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Fulgent Sun International (Holding) 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)
=67.47/330.2130*330.2130
=67.470

Current CPI (Mar. 2026) = 330.2130.

Fulgent Sun International (Holding) Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 38.566 241.018 52.838
201609 38.423 241.428 52.553
201612 39.693 241.432 54.289
201703 39.463 243.801 53.450
201706 38.884 244.955 52.418
201709 40.185 246.819 53.763
201712 41.154 246.524 55.125
201803 42.453 249.554 56.174
201806 40.383 251.989 52.919
201809 40.652 252.439 53.176
201812 43.198 251.233 56.778
201903 44.785 254.202 58.177
201906 43.063 256.143 55.516
201909 44.705 256.759 57.494
201912 45.781 256.974 58.829
202003 47.413 258.115 60.657
202006 42.263 257.797 54.135
202009 48.320 260.280 61.303
202012 45.036 260.474 57.094
202103 45.125 264.877 56.256
202106 45.045 271.696 54.747
202109 47.066 274.310 56.658
202112 48.137 278.802 57.013
202203 49.699 287.504 57.082
202206 55.733 296.311 62.110
202209 64.445 296.808 71.698
202212 65.677 296.797 73.071
202303 61.979 301.836 67.806
202306 65.316 305.109 70.690
202309 68.247 307.789 73.219
202312 64.098 306.746 69.002
202403 64.467 312.332 68.158
202406 66.577 314.175 69.976
202409 67.644 315.301 70.843
202412 73.047 315.605 76.428
202503 69.999 319.799 72.278
202506 62.127 322.561 63.601
202509 65.954 324.800 67.053
202512 68.506 324.054 69.808
202603 67.470 330.213 67.470

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 1.14 mean?
Fulgent Sun International (Holding) Co (TPE:9802) has a Cyclically Adjusted PB Ratio of 1.14 as of Aug. 04, 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 Fulgent Sun International (Holding) Co and its competitors. This is 49% below median its historical median of 2.24. Over the past decade, Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio has ranged from 1.17 to 3.81. According to the industry distribution chart, Fulgent Sun International (Holding) Co ranks #489 out of 859 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 56.9%.
Is Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio too high?
Fulgent Sun International (Holding) Co's current Cyclically Adjusted PB Ratio of 1.14 is 49% below median its 10-year median of 2.24. Over the past 10 years, this metric has ranged from a low of 1.17 to a high of 3.81. The Manufacturing - Apparel & Accessories industry median Cyclically Adjusted PB Ratio is 0.96. Fulgent Sun International (Holding) Co's value of 1.14 is 18.8% above this industry median. Based on the distribution chart, Fulgent Sun International (Holding) Co ranks #489 out of 859 companies in the Manufacturing - Apparel & Accessories industry, which is below the industry midpoint. Overall, Fulgent Sun International (Holding) Co has a GF Score™ of 81/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Fulgent Sun International (Holding) Co's Cyclically Adjusted PB Ratio compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Fulgent Sun International (Holding) Co ranks #489 out of 859 companies for Cyclically Adjusted PB Ratio. This places Fulgent Sun International (Holding) Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.96. Fulgent Sun International (Holding) Co's value of 1.14 is 18.8% above this benchmark. Historically, Fulgent Sun International (Holding) Co's own Cyclically Adjusted PB Ratio has ranged from 1.17 to 3.81 over the past decade. While the company's 10-year median is 2.24 vs. the industry median of 0.96, Fulgent Sun International (Holding) Co has consistently been above 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 0.96, based on 859 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. Fulgent Sun International (Holding) Co's current Cyclically Adjusted PB Ratio of 1.14 is 18.8% above 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 Fulgent Sun International (Holding) Co and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Cyclically Adjusted PB Ratio is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fulgent Sun International (Holding) Co's current Cyclically Adjusted PB Ratio is 1.14, which is 49% below median its own 10-year median of 2.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fulgent Sun International (Holding) Co stock overvalued right now?
Based on GuruFocus' analysis, Fulgent Sun International (Holding) Co (TPE:9802) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$112.12, compared to a current price of NT$69.70 — trading 37.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.14, which is 49% below median its 10-year median of 2.24 and 18.8% above the Manufacturing - Apparel & Accessories industry median of 0.96. Fulgent Sun International (Holding) Co's overall GF Score™ is 81/100 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 Fulgent Sun International (Holding) Co (TPE:9802), the current Cyclically Adjusted PB Ratio is 1.14 as of Aug. 04, 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 Fulgent Sun International (Holding) Co (TPE:9802) Overvalued in 2026?

Based on GuruFocus' analysis, Fulgent Sun International (Holding) Co stock appears to be undervalued. The current stock price of NT$69.70 is trading 37.8% below its estimated GF Value™ of NT$112.12. GuruFocus considers Fulgent Sun International (Holding) Co to be Significantly Undervalued.

Key valuation signals for TPE:9802:

  • Cyclically Adjusted PB Ratio: 1.14 (49% below median its 10-year median of 2.24)
  • GF Value™: NT$112.12 vs. price of NT$69.70 (37.8% below fair value)
  • GF Score™: 81/100 with 6 warning signs
  • Industry Position: 18.8% above the Manufacturing - Apparel & Accessories median (#489 of 859)

No single metric tells the full story. See the TPE:9802 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Fulgent Sun International (Holding) Co Business Description

Address No. 76, Section 3, Yunlin Road, Yunlin County, Douliu, TWN
Fulgent Sun International (Holding) Co Ltd is engaged in the business of production and sale of sports and leisure outdoor shoes. Its main business is the manufacturing of professional sports shoes and high-functional outdoor shoes. Its factories are located in China, Vietnam, and Cambodia.
81GF Score

Get the complete analysis for TPE:9802

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

NT$69.70
Price
NT$112.12
GF Value