Daiwa House Industry Co (TSE:1925) Cyclically Adjusted PB Ratio: 1.43 (As of Jul. 16, 2026) — 17% 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.

TSE:1925 Daiwa House Industry Co Ltd TSE:1925
76 GF Score
Price 円4,599.00
GF Value 円5,175.03
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Daiwa House Industry Co Cyclically Adjusted PB Ratio?

Daiwa House Industry Co TSE:1925 -0.02% 76 Cyclically Adjusted PB Ratio is 1.43 as of Jul. 16, 2026, which is 17% below its 10-year median of 1.73. GuruFocus rates TSE:1925 with a GF Score™ of 76/100 and a GF Value™ of 円5,175.03 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,437 Real Estate companies, Daiwa House Industry Co ranks worse than 76.48% on this metric.

As of today (2026-07-16), Daiwa House Industry Co's current share price is 円4599.00. Daiwa House Industry Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円3,225.50. Daiwa House Industry Co's Cyclically Adjusted PB Ratio for today is 1.43.

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

TSE:1925' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.29   Med: 1.73   Max: 3.11
Current: 1.43

During the past years, Daiwa House Industry Co's highest Cyclically Adjusted PB Ratio was 3.11. The lowest was 1.29. And the median was 1.73.

TSE:1925's Cyclically Adjusted PB Ratio is ranked worse than
76.48% of 1437 companies
in the Real Estate industry
Industry Median: 0.71 vs TSE:1925: 1.43

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.

Daiwa House Industry Co's adjusted book value per share data for the three months ended in Mar. 2026 was 円4,677.091. 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3,225.50 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Daiwa House Industry Co  (TSE:1925) 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.


Daiwa House Industry Co Cyclically Adjusted PB Ratio Related Terms


Daiwa House Industry Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Daiwa House Industry 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.

Daiwa House Industry Co Cyclically Adjusted PB Ratio Chart

Daiwa House Industry Co 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 1.53 1.32 1.71 1.68 1.52

Daiwa House Industry 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 1.68 1.64 1.73 1.64 1.52

Daiwa House Industry Co Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Development subindustry, Daiwa House Industry 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.


Daiwa House Industry Co Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Daiwa House Industry Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Daiwa House Industry Co's Cyclically Adjusted PB Ratio falls into.


TSE:1925
76GF Score
Daiwa House Industry Co Ltd TSE:1925
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Daiwa House Industry 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.

Daiwa House Industry Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=4599.00/3225.50
=1.43

* 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.

Daiwa House Industry Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Daiwa House Industry 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)
=4677.091/112.7000*112.7000
=4,677.091

Current CPI (Mar. 2026) = 112.7000.

Daiwa House Industry Co Quarterly Data

Book Value per Share CPI Adj_Book
201606 1,777.430 98.100 2,041.961
201609 1,820.929 98.000 2,094.068
201612 1,857.534 98.400 2,127.481
201703 1,971.833 98.100 2,265.296
201706 1,987.925 98.500 2,274.509
201709 2,097.057 98.800 2,392.088
201712 2,157.677 99.400 2,446.380
201803 2,218.339 99.200 2,520.230
201806 2,217.916 99.200 2,519.749
201809 2,320.915 99.900 2,618.289
201812 2,330.703 99.700 2,634.606
201903 2,404.488 99.700 2,718.012
201906 2,437.829 99.800 2,752.939
201909 2,553.338 100.100 2,874.737
201912 2,562.832 100.500 2,873.942
202003 2,600.970 100.300 2,922.526
202006 2,582.922 99.900 2,913.867
202009 2,680.310 99.900 3,023.733
202012 2,735.936 99.300 3,105.136
202103 2,805.225 99.900 3,164.653
202106 2,840.972 99.500 3,217.865
202109 2,945.654 100.100 3,316.436
202112 2,984.143 100.100 3,359.769
202203 3,081.067 101.100 3,434.582
202206 3,097.818 101.800 3,429.510
202209 3,270.278 103.100 3,574.785
202212 3,327.542 104.100 3,602.440
202303 3,466.849 104.400 3,742.470
202306 3,507.702 105.200 3,757.776
202309 3,679.926 106.200 3,905.157
202312 3,734.983 106.800 3,941.316
202403 3,810.212 107.200 4,005.699
202406 0.000 108.200 0.000
202409 4,069.185 108.900 4,211.177
202412 4,016.518 110.700 4,089.084
202503 4,226.162 111.100 4,287.025
202506 4,213.087 111.700 4,250.805
202509 4,289.941 112.000 4,316.753
202512 4,402.260 113.000 4,390.573
202603 4,677.091 112.700 4,677.091

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 1.43 mean?
Daiwa House Industry Co (TSE:1925) has a Cyclically Adjusted PB Ratio of 1.43 as of Jul. 16, 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 Daiwa House Industry Co and its competitors. This is 17% below median its historical median of 1.73. Over the past decade, Daiwa House Industry Co's Cyclically Adjusted PB Ratio has ranged from 1.29 to 3.11. According to the industry distribution chart, Daiwa House Industry Co ranks #1099 out of 1437 companies in the Real Estate industry, placing it in the top 76.5%.
Is Daiwa House Industry Co's Cyclically Adjusted PB Ratio too high?
Daiwa House Industry Co's current Cyclically Adjusted PB Ratio of 1.43 is 17% below median its 10-year median of 1.73. Over the past 10 years, this metric has ranged from a low of 1.29 to a high of 3.11. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.71. Daiwa House Industry Co's value of 1.43 is 101.4% above this industry median. Based on the distribution chart, Daiwa House Industry Co ranks #1099 out of 1437 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Daiwa House Industry Co has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Daiwa House Industry Co's Cyclically Adjusted PB Ratio compare to competitors?
According to the Real Estate industry distribution chart, Daiwa House Industry Co ranks #1099 out of 1437 companies for Cyclically Adjusted PB Ratio. This places Daiwa House Industry Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.71. Daiwa House Industry Co's value of 1.43 is 101.4% above this benchmark. Historically, Daiwa House Industry Co's own Cyclically Adjusted PB Ratio has ranged from 1.29 to 3.11 over the past decade. While the company's 10-year median is 1.73 vs. the industry median of 0.71, Daiwa House Industry 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 Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.71, based on 1,437 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. Daiwa House Industry Co's current Cyclically Adjusted PB Ratio of 1.43 is 101.4% 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 Daiwa House Industry Co and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Daiwa House Industry Co's current Cyclically Adjusted PB Ratio is 1.43, which is 17% below median its own 10-year median of 1.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daiwa House Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Daiwa House Industry Co (TSE:1925) is currently considered Modestly Undervalued. The stock's GF Value™ is 円5,175.03, compared to a current price of 円4,599.00 — trading 11.1% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.43, which is 17% below median its 10-year median of 1.73 and 101.4% above the Real Estate industry median of 0.71. Daiwa House Industry Co's overall GF Score™ is 76/100 with 4 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 Daiwa House Industry Co (TSE:1925), the current Cyclically Adjusted PB Ratio is 1.43 as of Jul. 16, 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 Daiwa House Industry Co (TSE:1925) Overvalued in 2026?

Based on GuruFocus' analysis, Daiwa House Industry Co stock appears to be undervalued. The current stock price of 円4,599.00 is trading 11.1% below its estimated GF Value™ of 円5,175.03. GuruFocus considers Daiwa House Industry Co to be Modestly Undervalued.

Key valuation signals for TSE:1925:

  • Cyclically Adjusted PB Ratio: 1.43 (17% below median its 10-year median of 1.73)
  • GF Value™: 円5,175.03 vs. price of 円4,599.00 (11.1% below fair value)
  • GF Score™: 76/100 with 4 warning signs
  • Industry Position: 101.4% above the Real Estate median (#1099 of 1437)

No single metric tells the full story. See the TSE:1925 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Daiwa House Industry Co Business Description

Address 3-3-5 Umeda, Kita-ku, Osaka, JPN, 530-8241
Daiwa House Industry Co Ltd is engaged in the business of housing, commercial facilities, and urban development. The company operates through seven segments. The Apartment segment develops, sells, and manages condominiums, while the Business Facilities segment handles logistics, manufacturing, medical, and nursing care facilities. The Commercial Facility segment focuses on the development, construction, and management of retail spaces. The Detached Houses segment contracts and sells individual homes. The Environment Energy segment develops renewable power plants and electricity retail. The Rental Housing segment covers development, operation, and brokerage of rental housing, while Others include the resort hotel business.
76GF Score

Get the complete analysis for TSE:1925

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

円4,599.00
Price
円5,175.03
GF Value