The Zenitaka (TSE:1811) Cyclically Adjusted PB Ratio: 0.67 (As of Sep. 03, 2026) — 22% Above Median

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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.
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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.

TSE:1811 The Zenitaka Corp TSE:1811
59 GF Score
Price 円7,740.00
GF Value 円4,514.56
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is The Zenitaka Cyclically Adjusted PB Ratio?

The Zenitaka TSE:1811 +0.39% 59 Cyclically Adjusted PB Ratio is 0.67 as of Sep. 03, 2026, which is 22% above its 10-year median of 0.55. GuruFocus rates TSE:1811 with a GF Score™ of 59/100 and a GF Value™ of 円4,514.56 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,237 Construction companies, The Zenitaka ranks better than 69.44% on this metric.

As of today (2026-09-03), The Zenitaka's current share price is 円7740.00. The Zenitaka's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円11,568.86. The Zenitaka's Cyclically Adjusted PB Ratio for today is 0.67.

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

TSE:1811' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.3   Med: 0.55   Max: 1.04
Current: 0.68

During the past years, The Zenitaka's highest Cyclically Adjusted PB Ratio was 1.04. The lowest was 0.30. And the median was 0.55.

TSE:1811's Cyclically Adjusted PB Ratio is ranked better than
69.44% of 1237 companies
in the Construction industry
Industry Median: 1.16 vs TSE:1811: 0.68

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.

The Zenitaka's adjusted book value per share data for the three months ended in Mar. 2026 was 円16,090.757. 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 円11,568.86 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


The Zenitaka  (TSE:1811) 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.


The Zenitaka Cyclically Adjusted PB Ratio Related Terms


The Zenitaka Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for The Zenitaka'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.

The Zenitaka Cyclically Adjusted PB Ratio Chart

The Zenitaka Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.52 0.33 0.44 0.36 0.71

The Zenitaka Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 0.39 0.59 0.71 0.71 0.00

TSE:1811 vs PWR, FIX, EME: Cyclically Adjusted PB Ratio Comparison

For the Engineering & Construction subindustry, The Zenitaka'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.


The Zenitaka Cyclically Adjusted PB Ratio vs Construction Industry

For the Construction industry and Industrials sector, The Zenitaka's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:1811
59GF Score
The Zenitaka Corp TSE:1811
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The Zenitaka 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.

The Zenitaka's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=7740.00/11568.86
=0.67

* 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.

The Zenitaka's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, The Zenitaka'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)
=16090.757/112.7000*112.7000
=16,090.757

Current CPI (Mar. 2026) = 112.7000.

The Zenitaka Quarterly Data

Book Value per Share CPI Adj_Book
201603 7,237.340 97.900 8,331.442
201606 7,025.598 98.100 8,071.202
201609 7,306.483 98.000 8,402.455
201612 7,859.349 98.400 9,001.510
201703 8,166.690 98.100 9,382.120
201706 8,492.671 98.500 9,716.995
201709 8,833.589 98.800 10,076.371
201712 9,259.249 99.400 10,498.163
201803 9,246.824 99.200 10,505.212
201806 9,400.251 99.200 10,679.519
201809 9,642.468 99.900 10,877.939
201812 9,346.224 99.700 10,564.889
201903 9,619.154 99.700 10,873.407
201906 9,419.936 99.800 10,637.543
201909 9,715.482 100.100 10,938.410
201912 10,126.902 100.500 11,356.237
202003 9,540.910 100.300 10,720.444
202006 9,691.985 99.900 10,933.801
202009 9,727.730 99.900 10,974.126
202012 10,138.788 99.300 11,506.963
202103 10,416.783 99.900 11,751.466
202106 10,202.597 99.500 11,556.107
202109 10,420.274 100.100 11,731.917
202112 10,161.407 100.100 11,440.465
202203 10,374.476 101.100 11,564.821
202206 10,606.534 101.800 11,742.204
202209 10,707.903 103.100 11,704.953
202212 11,072.466 104.100 11,987.194
202303 11,061.296 104.400 11,940.690
202306 12,024.155 105.200 12,881.390
202309 12,379.782 106.200 13,137.490
202312 12,322.954 106.800 13,003.716
202403 12,974.867 107.200 13,640.555
202406 12,982.407 108.200 13,522.341
202409 12,847.948 108.900 13,296.269
202503 13,524.853 111.100 13,719.630
202506 13,873.080 111.700 13,997.279
202509 14,517.732 112.000 14,608.468
202512 15,429.070 113.000 15,388.108
202603 16,090.757 112.700 16,090.757

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 0.67 mean?
The Zenitaka (TSE:1811) has a Cyclically Adjusted PB Ratio of 0.67 as of Sep. 03, 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 The Zenitaka and its competitors. This is 22% above median its historical median of 0.55. Over the past decade, The Zenitaka's Cyclically Adjusted PB Ratio has ranged from 0.30 to 1.04. According to the industry distribution chart, The Zenitaka ranks #378 out of 1237 companies in the Construction industry, placing it in the top 30.6%.
Is The Zenitaka's Cyclically Adjusted PB Ratio too high?
The Zenitaka's current Cyclically Adjusted PB Ratio of 0.67 is 22% above median its 10-year median of 0.55. Over the past 10 years, this metric has ranged from a low of 0.30 to a high of 1.04. The Construction industry median Cyclically Adjusted PB Ratio is 1.16. The Zenitaka's value of 0.67 is 42.2% below this industry median. Based on the distribution chart, The Zenitaka ranks #378 out of 1237 companies in the Construction industry, which is above the industry midpoint. Overall, The Zenitaka has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does The Zenitaka's Cyclically Adjusted PB Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, The Zenitaka ranks #378 out of 1237 companies for Cyclically Adjusted PB Ratio. This puts The Zenitaka in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.16. The Zenitaka's value of 0.67 is 42.2% below this benchmark. Historically, The Zenitaka's own Cyclically Adjusted PB Ratio has ranged from 0.30 to 1.04 over the past decade. While the company's 10-year median is 0.55 vs. the industry median of 1.16, The Zenitaka 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 Construction company?
The median Cyclically Adjusted PB Ratio among Construction companies is 1.16, based on 1,237 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. The Zenitaka's current Cyclically Adjusted PB Ratio of 0.67 is 42.2% 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 The Zenitaka and its competitors. For the Construction industry, the median Cyclically Adjusted PB Ratio is 1.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Zenitaka's current Cyclically Adjusted PB Ratio is 0.67, which is 22% above median its own 10-year median of 0.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Zenitaka stock overvalued right now?
Based on GuruFocus' analysis, The Zenitaka (TSE:1811) is currently considered Significantly Overvalued. The stock's GF Value™ is 円4,514.56, compared to a current price of 円7,740.00 — trading 71.4% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.67, which is 22% above median its 10-year median of 0.55 and 42.2% below the Construction industry median of 1.16. The Zenitaka's overall GF Score™ is 59/100 with 3 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 The Zenitaka (TSE:1811), the current Cyclically Adjusted PB Ratio is 0.67 as of Sep. 03, 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 The Zenitaka (TSE:1811) Overvalued in 2026?

Based on GuruFocus' analysis, The Zenitaka stock appears to be overvalued. The current stock price of 円7,740.00 is trading 71.4% above its estimated GF Value™ of 円4,514.56. GuruFocus considers The Zenitaka to be Significantly Overvalued.

Key valuation signals for TSE:1811:

  • Cyclically Adjusted PB Ratio: 0.67 (22% above median its 10-year median of 0.55)
  • GF Value™: 円4,514.56 vs. price of 円7,740.00 (71.4% above fair value)
  • GF Score™: 59/100 with 3 warning signs
  • Industry Position: 42.2% below the Construction median (#378 of 1237)

No single metric tells the full story. See the TSE:1811 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


The Zenitaka Business Description

Address Naniwa Suji Twins West, 2-2-11 Nishi-Honmachi, Nishi-ku, Osaka, JPN
The Zenitaka Corp operates in the real estate industry. The company is in the business of contracting, planning, designing and supervision of construction work. It also processes and sells construction materials.
59GF Score

Get the complete analysis for TSE:1811

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

円7,740.00
Price
円4,514.56
GF Value