Nousouken (TSE:3541) Cyclically Adjusted PB Ratio: 19.88 (As of Aug. 04, 2026) — 77% 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:3541 Nousouken Corp TSE:3541
45 GF Score
Price 円763.00
GF Value 円474.62
! 6 Warning Signs
View Full Analysis

What is Nousouken Cyclically Adjusted PB Ratio?

Nousouken TSE:3541 +0.13% 45 Cyclically Adjusted PB Ratio is 19.88 as of Aug. 04, 2026, which is 77% above its 10-year median of 11.26. GuruFocus rates TSE:3541 with a GF Score™ of 45/100 and a GF Value™ of 円474.62. The stock has 6 warning signs investors should review.

As of today (2026-08-04), Nousouken's current share price is 円763.00. Nousouken's Cyclically Adjusted Book per Share for the fiscal year that ended in Aug25 was 円38.38. Nousouken's Cyclically Adjusted PB Ratio for today is 19.88.

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

TSE:3541' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 7.18   Med: 11.26   Max: 20.09
Current: 19.88

During the past 11 years, Nousouken's highest Cyclically Adjusted PB Ratio was 20.09. The lowest was 7.18. And the median was 11.26.

TSE:3541's Cyclically Adjusted PB Ratio is not ranked
in the Retail - Defensive industry.
Industry Median: 1.65 vs TSE:3541: 19.88

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.

Nousouken's adjusted book value per share data of for the fiscal year that ended in Aug25 was 円41.102. 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38.38 for the trailing ten years ended in Aug25.

Shiller PE for Stocks: The True Measure of Stock Valuation


Nousouken  (TSE:3541) 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.


Nousouken Cyclically Adjusted PB Ratio Related Terms


Nousouken Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Nousouken'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.

Nousouken Cyclically Adjusted PB Ratio Chart

Nousouken 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 0.00 0.00 0.00 8.10 13.86

Nousouken Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 0.00 8.10 0.00 13.86 0.00

TSE:3541 vs SYY, USFD, PFGC: Cyclically Adjusted PB Ratio Comparison

For the Food Distribution subindustry, Nousouken'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.


Nousouken Cyclically Adjusted PB Ratio vs Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Nousouken's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:3541
45GF Score
Nousouken Corp TSE:3541
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Nousouken 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=763.00/38.38
=19.88

* 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.

Nousouken's Cyclically Adjusted Book per Share for the fiscal year that ended in Aug25 is calculated as:

For example, Nousouken's adjusted Book Value per Share data for the fiscal year that ended in Aug25 was:

Adj_Book=Book Value per Share/CPI of Aug25 (Change)*Current CPI (Aug25)
=41.102/112.1000*112.1000
=41.102

Current CPI (Aug25) = 112.1000.

Nousouken Annual Data

Book Value per Share CPI Adj_Book
201608 22.705 97.900 25.998
201708 28.818 98.500 32.797
201808 28.604 99.800 32.129
201908 29.003 100.000 32.512
202008 30.684 100.100 34.362
202108 42.518 99.700 47.806
202208 40.814 102.700 44.550
202308 41.947 105.900 44.403
202408 46.894 109.100 48.183
202508 41.102 112.100 41.102

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 19.88 mean?
Nousouken (TSE:3541) has a Cyclically Adjusted PB Ratio of 19.88 as of Aug. 04, 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 Nousouken and its competitors. This is 77% above median its historical median of 11.26. Over the past decade, Nousouken's Cyclically Adjusted PB Ratio has ranged from 7.18 to 20.09.
Is Nousouken's Cyclically Adjusted PB Ratio too high?
Nousouken's current Cyclically Adjusted PB Ratio of 19.88 is 77% above median its 10-year median of 11.26. Over the past 10 years, this metric has ranged from a low of 7.18 to a high of 20.09. The Retail - Defensive industry median Cyclically Adjusted PB Ratio is 1.65. Nousouken's value of 19.88 is 1104.8% above this industry median. Overall, Nousouken has a GF Score™ of 45/100, reflecting its overall financial health beyond just this single metric.
How does Nousouken's Cyclically Adjusted PB Ratio compare to SYY and USFD?
Nousouken's Cyclically Adjusted PB Ratio of 19.88 can be compared against companies in the Retail - Defensive industry. The industry median Cyclically Adjusted PB Ratio is 1.65. Nousouken's value of 19.88 is 1104.8% above this benchmark. Historically, Nousouken's own Cyclically Adjusted PB Ratio has ranged from 7.18 to 20.09 over the past decade. While the company's 10-year median is 11.26 vs. the industry median of 1.65, Nousouken 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 Retail - Defensive company?
The median Cyclically Adjusted PB Ratio among Retail - Defensive companies is 1.65, based on 231 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. Nousouken's current Cyclically Adjusted PB Ratio of 19.88 is 1104.8% 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 Nousouken and its competitors. For the Retail - Defensive industry, the median Cyclically Adjusted PB Ratio is 1.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nousouken's current Cyclically Adjusted PB Ratio is 19.88, which is 77% above median its own 10-year median of 11.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nousouken stock overvalued right now?
Nousouken (TSE:3541) has a current Cyclically Adjusted PB Ratio of 19.88. The stock's GF Value™ is 円474.62, compared to a current price of 円763.00 — trading 60.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 19.88, which is 77% above median its 10-year median of 11.26 and 1104.8% above the Retail - Defensive industry median of 1.65. Nousouken's overall GF Score™ is 45/100 with 6 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 Nousouken (TSE:3541), the current Cyclically Adjusted PB Ratio is 19.88 as of Aug. 04, 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 Nousouken (TSE:3541) Overvalued in 2026?

Based on GuruFocus' analysis, Nousouken stock appears to be overvalued. The current stock price of 円763.00 is trading 60.8% above its estimated GF Value™ of 円474.62.

Key valuation signals for TSE:3541:

  • Cyclically Adjusted PB Ratio: 19.88 (77% above median its 10-year median of 11.26)
  • GF Value™: 円474.62 vs. price of 円763.00 (60.8% above fair value)
  • GF Score™: 45/100 with 6 warning signs
  • Industry Position: 1104.8% above the Retail - Defensive median

No single metric tells the full story. See the TSE:3541 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Nousouken Business Description

Address 99-12 Kuroda, 4th Floor, Teramoto Building II, Wakayama Prefecture, Wakayama, JPN, 640-8341
Nousouken Corp provides an agricultural product distribution platform that directly connects various collection points and logistics centers across Japan. The company's reportable segments are Farmers' Direct Sales and Direct Wholesale. Maximum revenue is generated from the Farmers' Direct sales segment, a distribution platform business that delivers and sells fresh agricultural produce collected at collection centers across the country to in-shops (farmers' direct sales stores) set up in urban supermarkets. The Direct Wholesale segment is a wholesale business in which the company purchases agricultural products directly from producers, brands them, and then wholesale them to supermarkets.
45GF Score

Get the complete analysis for TSE:3541

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

円763.00
Price
円474.62
GF Value