Atsugi Co (TSE:3529) Cyclically Adjusted PB Ratio: 0.39 (As of Aug. 09, 2026) — 34% Above Median

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TSE:3529 Atsugi Co Ltd TSE:3529
55 GF Score
Price 円1,033.00
GF Value 円951.60
Valuation Fairly Valued
! 2 Warning Signs
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What is Atsugi Co Cyclically Adjusted PB Ratio?

Atsugi Co TSE:3529 55 Cyclically Adjusted PB Ratio is 0.39 as of Aug. 09, 2026, which is 34% above its 10-year median of 0.29. GuruFocus rates TSE:3529 with a GF Score™ of 55/100 and a GF Value™ of 円951.60 (Fairly Valued). The stock has 2 warning signs investors should review. Among 842 Manufacturing - Apparel & Accessories companies, Atsugi Co ranks better than 81.71% on this metric.

As of today (2026-08-09), Atsugi Co's current share price is 円1033.00. Atsugi Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円2,638.68. Atsugi Co's Cyclically Adjusted PB Ratio for today is 0.39.

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

TSE:3529' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.13   Med: 0.29   Max: 0.5
Current: 0.39

During the past years, Atsugi Co's highest Cyclically Adjusted PB Ratio was 0.50. The lowest was 0.13. And the median was 0.29.

TSE:3529's Cyclically Adjusted PB Ratio is ranked better than
81.71% of 842 companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 0.985 vs TSE:3529: 0.39

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.

Atsugi Co's adjusted book value per share data for the three months ended in Mar. 2026 was 円1,999.001. 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2,638.68 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Atsugi Co  (TSE:3529) 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.


Atsugi Co Cyclically Adjusted PB Ratio Related Terms


Atsugi Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Atsugi 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.

Atsugi Co Cyclically Adjusted PB Ratio Chart

Atsugi 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 0.22 0.15 0.21 0.40 0.35

Atsugi Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 0.40 0.46 0.42 0.47 0.35

TSE:3529 vs RL, LEVI, VFC: Cyclically Adjusted PB Ratio Comparison

For the Apparel Manufacturing subindustry, Atsugi 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.


Atsugi Co Cyclically Adjusted PB Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Atsugi Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:3529
55GF Score
Atsugi Co Ltd TSE:3529
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Atsugi 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1033.00/2638.68
=0.39

* 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.

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

For example, Atsugi 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)
=1999.001/112.7000*112.7000
=1,999.001

Current CPI (Mar. 2026) = 112.7000.

Atsugi Co Quarterly Data

Book Value per Share CPI Adj_Book
201603 2,930.500 97.900 3,373.517
201606 2,795.804 98.100 3,211.897
201609 2,833.029 98.000 3,257.983
201612 2,960.477 98.400 3,390.709
201703 2,959.244 98.100 3,399.662
201706 2,959.611 98.500 3,386.276
201709 3,015.330 98.800 3,439.552
201712 3,070.854 99.400 3,481.743
201803 3,043.028 99.200 3,457.150
201806 2,993.140 99.200 3,400.473
201809 3,040.908 99.900 3,430.534
201812 2,931.280 99.700 3,313.493
201903 2,737.246 99.700 3,094.159
201906 2,664.504 99.800 3,008.914
201909 2,655.108 100.100 2,989.317
201912 2,393.102 100.500 2,683.608
202003 2,222.631 100.300 2,497.413
202006 2,188.334 99.900 2,468.721
202009 2,189.882 99.900 2,470.467
202012 2,202.420 99.300 2,499.625
202103 2,110.557 99.900 2,380.979
202106 2,090.160 99.500 2,367.448
202109 2,047.355 100.100 2,305.064
202112 2,034.190 100.100 2,290.242
202203 2,005.991 101.100 2,236.154
202206 2,044.745 101.800 2,263.681
202209 2,045.242 103.100 2,235.682
202212 1,970.546 104.100 2,133.338
202303 1,930.537 104.400 2,084.018
202306 1,979.405 105.200 2,120.522
202309 2,078.262 106.200 2,205.463
202312 2,037.321 106.800 2,149.870
202403 2,087.453 107.200 2,194.552
202406 2,169.149 108.200 2,259.363
202409 2,056.433 108.900 2,128.191
202503 1,976.714 111.100 2,005.182
202506 1,930.137 111.700 1,947.417
202509 1,965.347 112.000 1,977.630
202512 2,013.362 113.000 2,008.017
202603 1,999.001 112.700 1,999.001

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 0.39 mean?
Atsugi Co (TSE:3529) has a Cyclically Adjusted PB Ratio of 0.39 as of Aug. 09, 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 Atsugi Co and its competitors. This is 34% above median its historical median of 0.29. Over the past decade, Atsugi Co's Cyclically Adjusted PB Ratio has ranged from 0.13 to 0.50. According to the industry distribution chart, Atsugi Co ranks #154 out of 842 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 18.3%.
Is Atsugi Co's Cyclically Adjusted PB Ratio too high?
Atsugi Co's current Cyclically Adjusted PB Ratio of 0.39 is 34% above median its 10-year median of 0.29. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 0.50. The Manufacturing - Apparel & Accessories industry median Cyclically Adjusted PB Ratio is 0.99. Atsugi Co's value of 0.39 is 60.4% below this industry median. Based on the distribution chart, Atsugi Co ranks #154 out of 842 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Atsugi Co has a GF Score™ of 55/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Atsugi Co's Cyclically Adjusted PB Ratio compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Atsugi Co ranks #154 out of 842 companies for Cyclically Adjusted PB Ratio. This places Atsugi Co in the top 18% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 0.99. Atsugi Co's value of 0.39 is 60.4% below this benchmark. Historically, Atsugi Co's own Cyclically Adjusted PB Ratio has ranged from 0.13 to 0.50 over the past decade. While the company's 10-year median is 0.29 vs. the industry median of 0.99, Atsugi Co 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 Manufacturing - Apparel & Accessories company?
The median Cyclically Adjusted PB Ratio among Manufacturing - Apparel & Accessories companies is 0.99, based on 842 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. Atsugi Co's current Cyclically Adjusted PB Ratio of 0.39 is 60.4% 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 Atsugi Co and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Cyclically Adjusted PB Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Atsugi Co's current Cyclically Adjusted PB Ratio is 0.39, which is 34% above median its own 10-year median of 0.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atsugi Co stock overvalued right now?
Based on GuruFocus' analysis, Atsugi Co (TSE:3529) is currently considered Fairly Valued. The stock's GF Value™ is 円951.60, compared to a current price of 円1,033.00 — trading 8.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.39, which is 34% above median its 10-year median of 0.29 and 60.4% below the Manufacturing - Apparel & Accessories industry median of 0.99. Atsugi Co's overall GF Score™ is 55/100 with 2 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 Atsugi Co (TSE:3529), the current Cyclically Adjusted PB Ratio is 0.39 as of Aug. 09, 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 Atsugi Co (TSE:3529) Overvalued in 2026?

Based on GuruFocus' analysis, Atsugi Co stock appears to be overvalued. The current stock price of 円1,033.00 is trading 8.6% above its estimated GF Value™ of 円951.60. GuruFocus considers Atsugi Co to be Fairly Valued.

Key valuation signals for TSE:3529:

  • Cyclically Adjusted PB Ratio: 0.39 (34% above median its 10-year median of 0.29)
  • GF Value™: 円951.60 vs. price of 円1,033.00 (8.6% above fair value)
  • GF Score™: 55/100 with 2 warning signs
  • Industry Position: 60.4% below the Manufacturing - Apparel & Accessories median (#154 of 842)

No single metric tells the full story. See the TSE:3529 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Atsugi Co Business Description

Address 3-2 Otanikita 1-chome, Kanagawa Prefecture, Ebina City, JPN, 243-0493
Atsugi Co Ltd manufactures pantyhose, socks and lingerie products for women in Japan. The company also manufactures socks for elderly people.
55GF Score

Get the complete analysis for TSE:3529

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

円1,033.00
Price
円951.60
GF Value