Core (TSE:2359) Cyclically Adjusted PB Ratio: 2.16 (As of Aug. 13, 2026) — Near Median

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Director of Data and Quant Analytics at GuruFocus
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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:2359 Core Corp TSE:2359
80 GF Score
Price 円2,090.00
GF Value 円2,074.92
Valuation Fairly Valued
! 1 Warning Sign
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What is Core Cyclically Adjusted PB Ratio?

Core TSE:2359 +0.19% 80 Cyclically Adjusted PB Ratio is 2.16 as of Aug. 13, 2026, which is 3% below its 10-year median of 2.23. GuruFocus rates TSE:2359 with a GF Score™ of 80/100 and a GF Value™ of 円2,074.92 (Fairly Valued). The stock has 1 warning sign investors should review. Among 1,551 Software companies, Core ranks better than 52.87% on this metric.

As of today (2026-08-13), Core's current share price is 円2090.00. Core's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円966.42. Core's Cyclically Adjusted PB Ratio for today is 2.16.

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

TSE:2359' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.73   Med: 2.23   Max: 2.92
Current: 2.13

During the past years, Core's highest Cyclically Adjusted PB Ratio was 2.92. The lowest was 1.73. And the median was 2.23.

TSE:2359's Cyclically Adjusted PB Ratio is ranked better than
52.87% of 1551 companies
in the Software industry
Industry Median: 2.31 vs TSE:2359: 2.13

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.

Core's adjusted book value per share data for the three months ended in Mar. 2026 was 円1,441.535. 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966.42 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Core  (TSE:2359) 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.


Core Cyclically Adjusted PB Ratio Related Terms


Core Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Core'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.

Core Cyclically Adjusted PB Ratio Chart

Core 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 2.39 2.20 2.37 2.02 2.32

Core 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 2.12 2.32 2.18 2.32 0.00

TSE:2359 vs IBM, ACN, FISV: Cyclically Adjusted PB Ratio Comparison

For the Information Technology Services subindustry, Core'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.


Core Cyclically Adjusted PB Ratio vs Software Industry

For the Software industry and Technology sector, Core's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:2359
80GF Score
Core Corp TSE:2359
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Core 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.

Core's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=2090.00/966.42
=2.16

* 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.

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

For example, Core'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)
=1441.535/112.7000*112.7000
=1,441.535

Current CPI (Mar. 2026) = 112.7000.

Core Quarterly Data

Book Value per Share CPI Adj_Book
201603 567.278 97.900 653.036
201606 553.897 98.100 636.332
201609 574.165 98.000 660.290
201612 600.338 98.400 687.582
201703 610.226 98.100 701.045
201706 603.958 98.500 691.026
201709 616.651 98.800 703.407
201712 636.805 99.400 722.011
201803 661.430 99.200 751.443
201806 655.079 99.200 744.228
201809 675.600 99.900 762.163
201812 680.808 99.700 769.579
201903 722.769 99.700 817.012
201906 710.257 99.800 802.064
201909 743.308 100.100 836.871
201912 766.045 100.500 859.038
202003 787.016 100.300 884.314
202006 772.071 99.900 870.995
202009 797.972 99.900 900.215
202012 822.201 99.300 933.153
202103 866.211 99.900 977.197
202106 861.478 99.500 975.765
202109 898.138 100.100 1,011.190
202112 933.863 100.100 1,051.412
202203 954.054 101.100 1,063.520
202206 943.951 101.800 1,045.022
202209 981.144 103.100 1,072.502
202212 1,022.827 104.100 1,107.326
202303 1,060.382 104.400 1,144.684
202306 1,051.899 105.200 1,126.892
202309 1,099.013 106.200 1,166.278
202312 1,133.178 106.800 1,195.779
202403 1,185.918 107.200 1,246.763
202406 1,173.995 108.200 1,222.821
202409 1,208.777 108.900 1,250.957
202503 1,289.640 111.100 1,308.213
202506 1,281.394 111.700 1,292.866
202509 1,332.423 112.000 1,340.751
202512 1,383.011 113.000 1,379.339
202603 1,441.535 112.700 1,441.535

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 2.16 mean?
Core (TSE:2359) has a Cyclically Adjusted PB Ratio of 2.16 as of Aug. 13, 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 Core and its competitors. This is near median its historical median of 2.23. Over the past decade, Core's Cyclically Adjusted PB Ratio has ranged from 1.73 to 2.92. According to the industry distribution chart, Core ranks #731 out of 1551 companies in the Software industry, placing it in the top 47.1%.
Is Core's Cyclically Adjusted PB Ratio too high?
Core's current Cyclically Adjusted PB Ratio of 2.16 is near median its 10-year median of 2.23. Over the past 10 years, this metric has ranged from a low of 1.73 to a high of 2.92. The Software industry median Cyclically Adjusted PB Ratio is 2.31. Core's value of 2.16 is 6.5% below this industry median. Based on the distribution chart, Core ranks #731 out of 1551 companies in the Software industry, which is above the industry midpoint. Overall, Core has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Core's Cyclically Adjusted PB Ratio compare to IBM and ACN?
According to the Software industry distribution chart, Core ranks #731 out of 1551 companies for Cyclically Adjusted PB Ratio. This puts Core in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.31. Core's value of 2.16 is 6.5% below this benchmark. Historically, Core's own Cyclically Adjusted PB Ratio has ranged from 1.73 to 2.92 over the past decade. While the company's 10-year median is 2.23 vs. the industry median of 2.31, Core 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 Software company?
The median Cyclically Adjusted PB Ratio among Software companies is 2.31, based on 1,551 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. Core's current Cyclically Adjusted PB Ratio of 2.16 is 6.5% 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 Core and its competitors. For the Software industry, the median Cyclically Adjusted PB Ratio is 2.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Core's current Cyclically Adjusted PB Ratio is 2.16, which is near median its own 10-year median of 2.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Core stock overvalued right now?
Based on GuruFocus' analysis, Core (TSE:2359) is currently considered Fairly Valued. The stock's GF Value™ is 円2,074.92, compared to a current price of 円2,090.00 — trading 0.7% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 2.16, which is near median its 10-year median of 2.23 and 6.5% below the Software industry median of 2.31. Core's overall GF Score™ is 80/100 with 1 warning sign 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 Core (TSE:2359), the current Cyclically Adjusted PB Ratio is 2.16 as of Aug. 13, 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 Core (TSE:2359) Overvalued in 2026?

Based on GuruFocus' analysis, Core stock appears to be overvalued. The current stock price of 円2,090.00 is trading 0.7% above its estimated GF Value™ of 円2,074.92. GuruFocus considers Core to be Fairly Valued.

Key valuation signals for TSE:2359:

  • Cyclically Adjusted PB Ratio: 2.16 (near median its 10-year median of 2.23)
  • GF Value™: 円2,074.92 vs. price of 円2,090.00 (0.7% above fair value)
  • GF Score™: 80/100 with 1 warning sign
  • Industry Position: 6.5% below the Software median (#731 of 1551)

No single metric tells the full story. See the TSE:2359 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Core Business Description

Address 1-22-3, Sangenjaya, Setagaya-ku, Tokyo, JPN, 154-8552
Core Corp is an independent information technology services company. It is organized into two business segments - System Integration business and product solutions business. The system integration segment focuses on embedded contract development in smartphones, automotive-related and equipment control fields. Its product solutions segment operates in the fields of security, cloud big data utilization cloud service, and global navigation satellite system. It primarily serves medical/healthcare, automobiles and agriculture markets.
80GF Score

Get the complete analysis for TSE:2359

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

円2,090.00
Price
円2,074.92
GF Value