WILL Co (TSE:3241) Cyclically Adjusted PB Ratio: 1.88 (As of Aug. 08, 2026) — Near 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:3241 WILL Co Ltd TSE:3241
71 GF Score
Price 円589.00
GF Value 円628.92
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is WILL Co Cyclically Adjusted PB Ratio?

WILL Co TSE:3241 71 Cyclically Adjusted PB Ratio is 1.88 as of Aug. 08, 2026, which is at its 10-year median of 1.88. GuruFocus rates TSE:3241 with a GF Score™ of 71/100 and a GF Value™ of 円628.92 (Fairly Valued). The stock has 4 warning signs investors should review. Among 1,412 Real Estate companies, WILL Co ranks worse than 83.57% on this metric.

As of today (2026-08-08), WILL Co's current share price is 円589.00. WILL Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was 円312.57. WILL Co's Cyclically Adjusted PB Ratio for today is 1.88.

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

TSE:3241' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.52   Med: 1.88   Max: 3.67
Current: 1.88

During the past years, WILL Co's highest Cyclically Adjusted PB Ratio was 3.67. The lowest was 1.52. And the median was 1.88.

TSE:3241's Cyclically Adjusted PB Ratio is ranked worse than
83.57% of 1412 companies
in the Real Estate industry
Industry Median: 0.68 vs TSE:3241: 1.88

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.

WILL Co's adjusted book value per share data for the three months ended in Dec. 2025 was 円468.306. 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312.57 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


WILL Co  (TSE:3241) 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.


WILL Co Cyclically Adjusted PB Ratio Related Terms


WILL Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for WILL 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.

WILL Co Cyclically Adjusted PB Ratio Chart

WILL 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 1.91 1.65 1.90 1.64 1.77

WILL Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 1.59 1.57 1.78 1.77 0.00

TSE:3241 vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, WILL 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.


WILL Co Cyclically Adjusted PB Ratio vs Real Estate Industry

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

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


TSE:3241
71GF Score
WILL Co Ltd TSE:3241
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

WILL 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=589.00/312.57
=1.88

* 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.

WILL Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, WILL Co's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book=Book Value per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=468.306/113.0000*113.0000
=468.306

Current CPI (Dec. 2025) = 113.0000.

WILL Co Quarterly Data

Book Value per Share CPI Adj_Book
201512 161.213 98.100 185.699
201603 154.492 97.900 178.321
201606 163.424 98.100 188.246
201609 167.757 98.000 193.434
201612 190.485 98.400 218.748
201703 180.138 98.100 207.498
201706 191.104 98.500 219.236
201709 193.138 98.800 220.897
201712 215.996 99.400 245.549
201803 203.526 99.200 231.839
201806 209.431 99.200 238.566
201809 212.164 99.900 239.985
201812 232.261 99.700 263.245
201903 221.331 99.700 250.857
201906 229.793 99.800 260.186
201909 240.370 100.100 271.347
201912 257.470 100.500 289.494
202003 244.249 100.300 275.176
202006 251.388 99.900 284.353
202009 261.349 99.900 295.620
202012 284.883 99.300 324.187
202103 276.774 99.900 313.068
202106 286.294 99.500 325.138
202109 297.576 100.100 335.925
202112 322.257 100.100 363.787
202203 308.682 101.100 345.015
202206 324.460 101.800 360.157
202209 337.594 103.100 370.011
202212 359.033 104.100 389.728
202303 349.802 104.400 378.617
202306 364.659 105.200 391.696
202309 371.141 106.200 394.905
202312 388.806 106.800 411.377
202403 374.902 107.200 395.186
202406 386.655 108.200 403.808
202412 429.771 110.700 438.700
202503 419.380 111.100 426.552
202506 439.557 111.700 444.673
202509 459.560 112.000 463.663
202512 468.306 113.000 468.306

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 1.88 mean?
WILL Co (TSE:3241) has a Cyclically Adjusted PB Ratio of 1.88 as of Aug. 08, 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 WILL Co and its competitors. This is near median its historical median of 1.88. Over the past decade, WILL Co's Cyclically Adjusted PB Ratio has ranged from 1.52 to 3.67. According to the industry distribution chart, WILL Co ranks #1180 out of 1412 companies in the Real Estate industry, placing it in the top 83.6%.
Is WILL Co's Cyclically Adjusted PB Ratio too high?
WILL Co's current Cyclically Adjusted PB Ratio of 1.88 is near median its 10-year median of 1.88. Over the past 10 years, this metric has ranged from a low of 1.52 to a high of 3.67. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.68. WILL Co's value of 1.88 is 176.5% above this industry median. Based on the distribution chart, WILL Co ranks #1180 out of 1412 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, WILL Co has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does WILL Co's Cyclically Adjusted PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, WILL Co ranks #1180 out of 1412 companies for Cyclically Adjusted PB Ratio. This places WILL Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.68. WILL Co's value of 1.88 is 176.5% above this benchmark. Historically, WILL Co's own Cyclically Adjusted PB Ratio has ranged from 1.52 to 3.67 over the past decade. While the company's 10-year median is 1.88 vs. the industry median of 0.68, WILL 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 0.68, based on 1,412 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. WILL Co's current Cyclically Adjusted PB Ratio of 1.88 is 176.5% 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 WILL Co and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WILL Co's current Cyclically Adjusted PB Ratio is 1.88, which is near median its own 10-year median of 1.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WILL Co stock overvalued right now?
Based on GuruFocus' analysis, WILL Co (TSE:3241) is currently considered Fairly Valued. The stock's GF Value™ is 円628.92, compared to a current price of 円589.00 — trading 6.3% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.88, which is near median its 10-year median of 1.88 and 176.5% above the Real Estate industry median of 0.68. WILL Co's overall GF Score™ is 71/100 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 WILL Co (TSE:3241), the current Cyclically Adjusted PB Ratio is 1.88 as of Aug. 08, 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 WILL Co (TSE:3241) Overvalued in 2026?

Based on GuruFocus' analysis, WILL Co stock appears to be undervalued. The current stock price of 円589.00 is trading 6.3% below its estimated GF Value™ of 円628.92. GuruFocus considers WILL Co to be Fairly Valued.

Key valuation signals for TSE:3241:

  • Cyclically Adjusted PB Ratio: 1.88 (near median its 10-year median of 1.88)
  • GF Value™: 円628.92 vs. price of 円589.00 (6.3% below fair value)
  • GF Score™: 71/100 with 4 warning signs
  • Industry Position: 176.5% above the Real Estate median (#1180 of 1412)

No single metric tells the full story. See the TSE:3241 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


WILL Co Business Description

Address 1-14-39 Sakasegawa, Takarazuka, JPN, 665-0035
WILL Co Ltd is a real estate service provider operating in Japan. The business of the company includes distribution business, remodeling business, renovation business, consignment sales, financial planning, advertising agency business, consulting business, and share house business.
71GF Score

Get the complete analysis for TSE:3241

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

円589.00
Price
円628.92
GF Value