Giant Manufacturing Co (TPE:9921) Cyclically Adjusted PB Ratio: 1.02 (As of Sep. 17, 2026) — 68% Below Median

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TPE:9921 Giant Manufacturing Co Ltd TPE:9921
80 GF Score
Price NT$90.70
GF Value NT$118.76
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Giant Manufacturing Co Cyclically Adjusted PB Ratio?

Giant Manufacturing Co TPE:9921 -0.44% 80 Cyclically Adjusted PB Ratio is 1.02 as of Sep. 17, 2026, which is 68% below its 10-year median of 3.19. GuruFocus rates TPE:9921 with a GF Score™ of 80/100 and a GF Value™ of NT$118.76 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 602 Travel & Leisure companies, Giant Manufacturing Co ranks better than 53.16% on this metric.

As of today (2026-09-17), Giant Manufacturing Co's current share price is NT$90.70. Giant Manufacturing Co's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was NT$88.52. Giant Manufacturing Co's Cyclically Adjusted PB Ratio for today is 1.02.

The historical rank and industry rank for Giant Manufacturing Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

TPE:9921' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.81   Med: 3.19   Max: 6.51
Current: 1.06

During the past years, Giant Manufacturing Co's highest Cyclically Adjusted PB Ratio was 6.51. The lowest was 0.81. And the median was 3.19.

TPE:9921's Cyclically Adjusted PB Ratio is ranked better than
53.16% of 602 companies
in the Travel & Leisure industry
Industry Median: 1.13 vs TPE:9921: 1.06

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.

Giant Manufacturing Co's adjusted book value per share data for the three months ended in Jun. 2026 was NT$95.999. 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$88.52 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Giant Manufacturing Co  (TPE:9921) 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.


Giant Manufacturing Co Cyclically Adjusted PB Ratio Related Terms


Giant Manufacturing Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Giant Manufacturing 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.

Giant Manufacturing Co Cyclically Adjusted PB Ratio Chart

Giant Manufacturing 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 5.32 2.77 2.36 1.71 1.07

Giant Manufacturing 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 1.30 1.12 1.09 0.83 0.89

TPE:9921 vs AS, HAS, LTH: Cyclically Adjusted PB Ratio Comparison

For the Leisure subindustry, Giant Manufacturing 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.


Giant Manufacturing Co Cyclically Adjusted PB Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Giant Manufacturing Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TPE:9921
80GF Score
Giant Manufacturing Co Ltd TPE:9921
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Giant Manufacturing 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.

Giant Manufacturing Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=90.70/88.519
=1.02

* 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.

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

For example, Giant Manufacturing 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)
=95.999/333.9520*333.9520
=95.999

Current CPI (Jun. 2026) = 333.9520.

Giant Manufacturing Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 52.206 241.428 72.213
201612 52.957 241.432 73.251
201703 53.937 243.801 73.881
201706 52.011 244.955 70.908
201709 53.388 246.819 72.235
201712 55.577 246.524 75.287
201803 56.640 249.554 75.795
201806 55.152 251.989 73.091
201809 56.663 252.439 74.960
201812 58.914 251.233 78.312
201903 61.521 254.202 80.822
201906 59.704 256.143 77.840
201909 60.647 256.759 78.880
201912 62.076 256.974 80.671
202003 62.670 258.115 81.083
202006 61.948 257.797 80.248
202009 66.950 260.280 85.900
202012 71.327 260.474 91.448
202103 75.853 264.877 95.634
202106 72.514 271.696 89.130
202109 75.559 274.310 91.987
202112 78.449 278.802 93.967
202203 85.488 287.504 99.299
202206 80.085 296.311 90.258
202209 86.397 296.808 97.209
202212 91.566 296.797 103.029
202303 94.134 301.836 104.150
202306 88.754 305.109 97.144
202309 92.910 307.789 100.808
202312 92.651 306.746 100.868
202403 95.550 312.332 102.164
202406 94.364 314.175 100.304
202409 96.747 315.301 102.470
202412 93.703 315.605 99.150
202503 96.304 319.799 100.566
202506 88.236 322.561 91.352
202509 91.984 324.800 94.576
202512 94.415 324.054 97.299
202603 95.473 330.213 96.554
202606 95.999 333.952 95.999

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 1.02 mean?
Giant Manufacturing Co (TPE:9921) has a Cyclically Adjusted PB Ratio of 1.02 as of Sep. 17, 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 Giant Manufacturing Co and its competitors. This is 68% below median its historical median of 3.19. Over the past decade, Giant Manufacturing Co's Cyclically Adjusted PB Ratio has ranged from 0.81 to 6.51. According to the industry distribution chart, Giant Manufacturing Co ranks #282 out of 602 companies in the Travel & Leisure industry, placing it in the top 46.8%.
Is Giant Manufacturing Co's Cyclically Adjusted PB Ratio too high?
Giant Manufacturing Co's current Cyclically Adjusted PB Ratio of 1.02 is 68% below median its 10-year median of 3.19. Over the past 10 years, this metric has ranged from a low of 0.81 to a high of 6.51. The Travel & Leisure industry median Cyclically Adjusted PB Ratio is 1.13. Giant Manufacturing Co's value of 1.02 is 9.7% below this industry median. Based on the distribution chart, Giant Manufacturing Co ranks #282 out of 602 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Giant Manufacturing Co has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Giant Manufacturing Co's Cyclically Adjusted PB Ratio compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Giant Manufacturing Co ranks #282 out of 602 companies for Cyclically Adjusted PB Ratio. This puts Giant Manufacturing Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.13. Giant Manufacturing Co's value of 1.02 is 9.7% below this benchmark. Historically, Giant Manufacturing Co's own Cyclically Adjusted PB Ratio has ranged from 0.81 to 6.51 over the past decade. While the company's 10-year median is 3.19 vs. the industry median of 1.13, Giant Manufacturing Co 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 Travel & Leisure company?
The median Cyclically Adjusted PB Ratio among Travel & Leisure companies is 1.13, based on 602 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. Giant Manufacturing Co's current Cyclically Adjusted PB Ratio of 1.02 is 9.7% 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 Giant Manufacturing Co and its competitors. For the Travel & Leisure industry, the median Cyclically Adjusted PB Ratio is 1.13 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Giant Manufacturing Co's current Cyclically Adjusted PB Ratio is 1.02, which is 68% below median its own 10-year median of 3.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Giant Manufacturing Co stock overvalued right now?
Based on GuruFocus' analysis, Giant Manufacturing Co (TPE:9921) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$118.76, compared to a current price of NT$90.70 — trading 23.6% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.02, which is 68% below median its 10-year median of 3.19 and 9.7% below the Travel & Leisure industry median of 1.13. Giant Manufacturing Co's overall GF Score™ is 80/100 with 7 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 Giant Manufacturing Co (TPE:9921), the current Cyclically Adjusted PB Ratio is 1.02 as of Sep. 17, 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 Giant Manufacturing Co (TPE:9921) Overvalued in 2026?

Based on GuruFocus' analysis, Giant Manufacturing Co stock appears to be undervalued. The current stock price of NT$90.70 is trading 23.6% below its estimated GF Value™ of NT$118.76. GuruFocus considers Giant Manufacturing Co to be Modestly Undervalued.

Key valuation signals for TPE:9921:

  • Cyclically Adjusted PB Ratio: 1.02 (68% below median its 10-year median of 3.19)
  • GF Value™: NT$118.76 vs. price of NT$90.70 (23.6% below fair value)
  • GF Score™: 80/100 with 7 warning signs
  • Industry Position: 9.7% below the Travel & Leisure median (#282 of 602)

No single metric tells the full story. See the TPE:9921 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Giant Manufacturing Co Business Description

Address Dongda Road, No. 997 and 999, Section 1, Xitun District, Taichung, TWN, 40763
Giant Manufacturing Co Ltd manufactures and sells bicycles, electric bicycles and related parts. Its segments includes Bicycle, Materials, and Others. The company generates majority of its revenue from Bicycle segment.
80GF Score

Get the complete analysis for TPE:9921

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

NT$90.70
Price
NT$118.76
GF Value