Asulina Co (TSE:3647) Cyclically Adjusted PB Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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:3647 Asulina Co Ltd TSE:3647
44 GF Score
Price 円117.00
GF Value 円162.44
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Asulina Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Asulina Co  (TSE:3647) 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.


Asulina Co Cyclically Adjusted PB Ratio Related Terms


Asulina Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Asulina 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.

Asulina Co Cyclically Adjusted PB Ratio Chart

Asulina Co 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 6.03 2.24 1.49 1.13 1.32

Asulina Co Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 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 1.17 1.43 1.23 1.36 1.01

Asulina Co Cyclically Adjusted PB Ratio Competitor Comparison

For the Utilities - Renewable subindustry, Asulina 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.


Asulina Co Cyclically Adjusted PB Ratio vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Asulina Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:3647
44GF Score
Asulina Co Ltd TSE:3647
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Asulina 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.

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

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

Adj_Book=Book Value per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=40.481/113.5000*113.5000
=40.481

Current CPI (May. 2026) = 113.5000.

Asulina Co Quarterly Data

Book Value per Share CPI Adj_Book
201608 72.489 97.900 84.040
201611 72.796 98.600 83.797
201702 74.643 98.100 86.361
201705 84.064 98.600 96.767
201708 107.879 98.500 124.307
201711 94.671 99.100 108.427
201802 108.961 99.500 124.292
201805 106.126 99.300 121.302
201808 130.171 99.800 148.040
201811 105.256 100.000 119.466
201902 45.196 99.700 51.452
201905 42.485 100.000 48.220
201908 136.032 100.000 154.396
201911 119.815 100.500 135.313
202002 131.772 100.300 149.114
202005 130.459 100.100 147.923
202008 145.875 100.100 165.403
202011 140.514 99.500 160.285
202102 135.885 99.800 154.539
202105 149.637 99.400 170.863
202108 146.858 99.700 167.185
202111 116.812 100.100 132.449
202202 117.096 100.700 131.980
202205 117.455 101.800 130.954
202208 119.948 102.700 132.562
202211 116.011 103.900 126.730
202302 112.203 104.000 122.452
202305 109.810 105.100 118.586
202308 90.957 105.900 97.485
202311 87.063 106.900 92.438
202402 85.726 106.900 91.019
202405 80.138 108.100 84.141
202408 55.449 109.100 57.685
202411 49.849 110.000 51.435
202502 45.836 110.800 46.953
202505 42.934 111.800 43.587
202508 37.911 112.100 38.384
202511 42.005 113.200 42.116
202602 40.604 112.200 41.074
202605 40.481 113.500 40.481

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 Asulina Co (TSE:3647) Overvalued in 2026?

Based on GuruFocus' analysis, Asulina Co stock appears to be undervalued. The current stock price of 円117.00 is trading 28% below its estimated GF Value™ of 円162.44. GuruFocus considers Asulina Co to be Modestly Undervalued.

Key valuation signals for TSE:3647:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: 円162.44 vs. price of 円117.00 (28% below fair value)
  • GF Score™: 44/100 with 3 warning signs

No single metric tells the full story. See the TSE:3647 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Asulina Co Business Description

Address 2-3-14 Higashishinagawa, Shinagawa-ku, Tokyo Front Terrace 12th floor, Tokyo, JPN, 140-0002
Asulina Co Ltd is engaged in Renewable energy business, new energy business and sustainable business.
44GF Score

Get the complete analysis for TSE:3647

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

円117.00
Price
円162.44
GF Value