Dualtap Co (TSE:3469) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

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.
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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:3469 Dualtap Co Ltd TSE:3469
56 GF Score
Price 円884.00
GF Value 円786.03
Valuation Modestly Overvalued
! 6 Warning Signs
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What is Dualtap Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Dualtap Co  (TSE:3469) 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.


Dualtap Co Cyclically Adjusted PB Ratio Related Terms


Dualtap Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Dualtap 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.

Dualtap Co Cyclically Adjusted PB Ratio Chart

Dualtap Co Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 1.01 1.97 1.71 1.46

Dualtap Co Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 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 1.71 1.50 1.60 1.69 1.51

Dualtap Co Cyclically Adjusted PB Ratio Competitor Comparison

For the Real Estate - Diversified subindustry, Dualtap 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.


Dualtap Co Cyclically Adjusted PB Ratio vs Real Estate Industry

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

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


TSE:3469
56GF Score
Dualtap Co Ltd TSE:3469
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Dualtap 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.

Dualtap Co's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Dualtap Co's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=603.482/113.6000*113.6000
=603.482

Current CPI (Jun. 2026) = 113.6000.

Dualtap Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 349.668 98.000 405.329
201612 358.867 98.400 414.302
201703 398.193 98.100 461.108
201706 411.410 98.500 474.479
201709 455.025 98.800 523.187
201712 509.624 99.400 582.427
201803 506.506 99.200 580.031
201806 495.484 99.200 567.409
201809 477.214 99.900 542.658
201812 459.667 99.700 523.753
201903 502.381 99.700 572.422
201906 537.610 99.800 611.949
201909 516.604 100.100 586.276
201912 525.738 100.500 594.267
202003 606.404 100.300 686.815
202006 600.389 99.900 682.725
202009 572.819 99.900 651.374
202012 566.168 99.300 647.701
202103 542.985 99.900 617.448
202106 592.824 99.500 676.832
202109 571.327 100.100 648.379
202112 542.600 100.100 615.778
202203 568.101 101.100 638.341
202206 596.312 101.800 665.433
202209 680.563 103.100 749.873
202212 663.970 104.100 724.563
202303 646.472 104.400 703.441
202306 641.333 105.200 692.542
202309 581.242 106.200 621.743
202312 532.726 106.800 566.645
202403 521.125 107.200 552.237
202406 517.349 108.200 543.169
202409 503.961 108.900 525.711
202412 518.169 110.700 531.743
202503 520.620 111.100 532.335
202506 585.824 111.700 595.789
202509 560.124 112.000 568.126
202512 589.486 113.000 592.616
202603 591.667 112.700 596.392
202606 603.482 113.600 603.482

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.

Is Dualtap Co (TSE:3469) Overvalued in 2026?

Based on GuruFocus' analysis, Dualtap Co stock appears to be overvalued. The current stock price of 円884.00 is trading 12.5% above its estimated GF Value™ of 円786.03. GuruFocus considers Dualtap Co to be Modestly Overvalued.

Key valuation signals for TSE:3469:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: 円786.03 vs. price of 円884.00 (12.5% above fair value)
  • GF Score™: 56/100 with 6 warning signs

No single metric tells the full story. See the TSE:3469 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Dualtap Co Business Description

Address 4-7 Hisamatsucho, Nihonbashi, Chuo-ku, Tokyo, JPN, 103-0005
Dualtap Co Ltd is a real estate company. Along with its subsidiaries, the company operates across various business segments such as the Real estate sales business, Real estate management business, Overseas real estate business, and the Sales support business. A majority of its revenue is generated from the Real estate sales business which plans and develops asset management condominiums, called XEBEC across various wards of Tokyo. The properties developed are sold to individual investors, REITs, real estate funds, corporate corporations, etc.
56GF Score

Get the complete analysis for TSE:3469

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

円884.00
Price
円786.03
GF Value