Tetsujin Holdings (TSE:2404) Cyclically Adjusted PB Ratio: 7.86 (As of Aug. 13, 2026) — 283% Above 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:2404 Tetsujin Holdings Inc TSE:2404
60 GF Score
Price 円562.00
GF Value 円559.46
Valuation Fairly Valued
! 1 Warning Sign
View Full Analysis

What is Tetsujin Holdings Cyclically Adjusted PB Ratio?

Tetsujin Holdings TSE:2404 -0.35% 60 Cyclically Adjusted PB Ratio is 7.86 as of Aug. 13, 2026, which is 283% above its 10-year median of 2.05. GuruFocus rates TSE:2404 with a GF Score™ of 60/100 and a GF Value™ of 円559.46 (Fairly Valued). The stock has 1 warning sign investors should review. Among 641 Travel & Leisure companies, Tetsujin Holdings ranks worse than 92.51% on this metric.

As of today (2026-08-13), Tetsujin Holdings's current share price is 円562.00. Tetsujin Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 was 円71.48. Tetsujin Holdings's Cyclically Adjusted PB Ratio for today is 7.86.

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

TSE:2404' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.65   Med: 2.05   Max: 9.21
Current: 7.85

During the past years, Tetsujin Holdings's highest Cyclically Adjusted PB Ratio was 9.21. The lowest was 0.65. And the median was 2.05.

TSE:2404's Cyclically Adjusted PB Ratio is ranked worse than
92.51% of 641 companies
in the Travel & Leisure industry
Industry Median: 1.2 vs TSE:2404: 7.85

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.

Tetsujin Holdings's adjusted book value per share data for the three months ended in Feb. 2026 was 円71.472. 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71.48 for the trailing ten years ended in Feb. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Tetsujin Holdings  (TSE:2404) 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.


Tetsujin Holdings Cyclically Adjusted PB Ratio Related Terms


Tetsujin Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Tetsujin Holdings'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.

Tetsujin Holdings Cyclically Adjusted PB Ratio Chart

Tetsujin Holdings Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.66 2.07 3.01 4.19 6.42

Tetsujin Holdings Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 5.20 6.42 5.81 7.20 0.00

TSE:2404 vs MAR, HLT, H: Cyclically Adjusted PB Ratio Comparison

For the Lodging subindustry, Tetsujin Holdings'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.


Tetsujin Holdings Cyclically Adjusted PB Ratio vs Travel & Leisure Industry

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

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


TSE:2404
60GF Score
Tetsujin Holdings Inc TSE:2404
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tetsujin Holdings 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.

Tetsujin Holdings's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=562.00/71.48
=7.86

* 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.

Tetsujin Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 is calculated as:

For example, Tetsujin Holdings's adjusted Book Value per Share data for the three months ended in Feb. 2026 was:

Adj_Book=Book Value per Share/CPI of Feb. 2026 (Change)*Current CPI (Feb. 2026)
=71.472/112.2000*112.2000
=71.472

Current CPI (Feb. 2026) = 112.2000.

Tetsujin Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201602 331.756 97.800 380.604
201605 311.812 98.200 356.266
201608 259.541 97.900 297.451
201611 227.821 98.600 259.245
201702 253.083 98.100 289.459
201705 259.456 98.600 295.243
201708 2.735 98.500 3.115
201711 -32.117 99.100 -36.363
201802 -19.248 99.500 -21.705
201805 48.592 99.300 54.905
201808 48.587 99.800 54.624
201811 39.897 100.000 44.764
201902 72.072 99.700 81.108
201905 81.024 100.000 90.909
201908 71.351 100.000 80.056
201911 38.889 100.500 43.416
202002 54.549 100.300 61.021
202005 -29.440 100.100 -32.999
202008 36.812 100.100 41.262
202011 -0.335 99.500 -0.378
202102 2.355 99.800 2.648
202105 4.070 99.400 4.594
202108 14.437 99.700 16.247
202111 21.181 100.100 23.741
202202 37.396 100.700 41.667
202205 28.969 101.800 31.929
202208 16.752 102.700 18.302
202211 3.051 103.900 3.295
202302 15.770 104.000 17.013
202305 17.664 105.100 18.857
202308 16.702 105.900 17.696
202311 8.801 106.900 9.237
202402 16.621 106.900 17.445
202405 15.008 108.100 15.577
202408 16.949 109.100 17.431
202502 33.135 110.800 33.554
202505 42.229 111.800 42.380
202508 49.107 112.100 49.151
202511 65.685 113.200 65.105
202602 71.472 112.200 71.472

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 7.86 mean?
Tetsujin Holdings (TSE:2404) has a Cyclically Adjusted PB Ratio of 7.86 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 Tetsujin Holdings and its competitors. This is 283% above median its historical median of 2.05. Over the past decade, Tetsujin Holdings' Cyclically Adjusted PB Ratio has ranged from 0.65 to 9.21. According to the industry distribution chart, Tetsujin Holdings ranks #593 out of 641 companies in the Travel & Leisure industry, placing it in the top 92.5%.
Is Tetsujin Holdings' Cyclically Adjusted PB Ratio too high?
Tetsujin Holdings' current Cyclically Adjusted PB Ratio of 7.86 is 283% above median its 10-year median of 2.05. Over the past 10 years, this metric has ranged from a low of 0.65 to a high of 9.21. The Travel & Leisure industry median Cyclically Adjusted PB Ratio is 1.20. Tetsujin Holdings' value of 7.86 is 555% above this industry median. Based on the distribution chart, Tetsujin Holdings ranks #593 out of 641 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Tetsujin Holdings has a GF Score™ of 60/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tetsujin Holdings' Cyclically Adjusted PB Ratio compare to MAR and HLT?
According to the Travel & Leisure industry distribution chart, Tetsujin Holdings ranks #593 out of 641 companies for Cyclically Adjusted PB Ratio. This places Tetsujin Holdings in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.20. Tetsujin Holdings' value of 7.86 is 555% above this benchmark. Historically, Tetsujin Holdings' own Cyclically Adjusted PB Ratio has ranged from 0.65 to 9.21 over the past decade. While the company's 10-year median is 2.05 vs. the industry median of 1.20, Tetsujin Holdings 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 Travel & Leisure company?
The median Cyclically Adjusted PB Ratio among Travel & Leisure companies is 1.20, based on 641 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. Tetsujin Holdings's current Cyclically Adjusted PB Ratio of 7.86 is 555% 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 Tetsujin Holdings and its competitors. For the Travel & Leisure industry, the median Cyclically Adjusted PB Ratio is 1.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tetsujin Holdings's current Cyclically Adjusted PB Ratio is 7.86, which is 283% above median its own 10-year median of 2.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tetsujin Holdings stock overvalued right now?
Based on GuruFocus' analysis, Tetsujin Holdings (TSE:2404) is currently considered Fairly Valued. The stock's GF Value™ is 円559.46, compared to a current price of 円562.00 — trading 0.5% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 7.86, which is 283% above median its 10-year median of 2.05 and 555% above the Travel & Leisure industry median of 1.20. Tetsujin Holdings' overall GF Score™ is 60/100 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 Tetsujin Holdings (TSE:2404), the current Cyclically Adjusted PB Ratio is 7.86 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 Tetsujin Holdings (TSE:2404) Overvalued in 2026?

Based on GuruFocus' analysis, Tetsujin Holdings stock appears to be overvalued. The current stock price of 円562.00 is trading 0.5% above its estimated GF Value™ of 円559.46. GuruFocus considers Tetsujin Holdings to be Fairly Valued.

Key valuation signals for TSE:2404:

  • Cyclically Adjusted PB Ratio: 7.86 (283% above median its 10-year median of 2.05)
  • GF Value™: 円559.46 vs. price of 円562.00 (0.5% above fair value)
  • GF Score™: 60/100 with 1 warning sign
  • Industry Position: 555% above the Travel & Leisure median (#593 of 641)

No single metric tells the full story. See the TSE:2404 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tetsujin Holdings Business Description

Address 5-15-1 Himonya, Meguro-ku, Himonya Mansion 2nd Floor, Tokyo, JPN, 152-0003
Tetsujin Holdings Inc is engaged in karaoke, media business, alliance business, restaurant business, beauty business, and other businesses which includes game communication events and real estate business.
60GF Score

Get the complete analysis for TSE:2404

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

円562.00
Price
円559.46
GF Value