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Hikari Business Form CoTSE:3948 +1.59%55 Cyclically Adjusted PB Ratio is 0.77 as of Aug. 10, 2026, which is 45% above its 10-year median of 0.53. GuruFocus rates TSE:3948 with a GF Score™ of 55/100 and a GF Value™ of 円685.53 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 724 Business Services companies, Hikari Business Form Co ranks better than 75.28% on this metric.
The historical rank and industry rank for Hikari Business Form Co's Cyclically Adjusted PB Ratio or its related term are showing as below:
TSE:3948'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.23 Med: 0.53 Max: 0.9
Current: 0.75
During the past years, Hikari Business Form Co's highest Cyclically Adjusted PB Ratio was 0.90. The lowest was 0.23. And the median was 0.53.
TSE:3948's Cyclically Adjusted PB Ratio is ranked better than 75.28% of 724
companies
in the Business Services industry
Industry Median: 1.56
vs TSE:3948: 0.75
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.
Hikari Business Form Co's adjusted book value per share data for the three months ended in Dec. 2025 was 円1,741.608. 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1,499.68 for the trailing ten years ended in Dec. 2025.
Shiller PE for Stocks: The True Measure of Stock Valuation
Hikari Business Form Co (TSE:3948) 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.
Hikari Business Form Co Cyclically Adjusted PB Ratio Related Terms
Hikari Business Form Co Cyclically Adjusted PB Ratio Historical Data
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The historical data trend for Hikari Business Form 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.
Hikari Business Form Co Cyclically Adjusted PB Ratio Chart
TSE:3948 vs CTAS, CPRT, GPN: Cyclically Adjusted PB Ratio Comparison
For the Specialty Business Services subindustry, Hikari Business Form 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.
Hikari Business Form Co Cyclically Adjusted PB Ratio vs Business Services Industry
For the Business Services industry and Industrials sector, Hikari Business Form Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Hikari Business Form Co's Cyclically Adjusted PB Ratio falls into.
Hikari Business Form 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.
* 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.
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 0.77 mean?
Hikari Business Form Co (TSE:3948) has a Cyclically Adjusted PB Ratio of 0.77 as of Aug. 10, 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 Hikari Business Form Co and its competitors. This is 45% above median its historical median of 0.53. Over the past decade, Hikari Business Form Co's Cyclically Adjusted PB Ratio has ranged from 0.23 to 0.90. According to the industry distribution chart, Hikari Business Form Co ranks #179 out of 724 companies in the Business Services industry, placing it in the top 24.7%.
Is Hikari Business Form Co's Cyclically Adjusted PB Ratio too high?
Hikari Business Form Co's current Cyclically Adjusted PB Ratio of 0.77 is 45% above median its 10-year median of 0.53. Over the past 10 years, this metric has ranged from a low of 0.23 to a high of 0.90. The Business Services industry median Cyclically Adjusted PB Ratio is 1.56. Hikari Business Form Co's value of 0.77 is 50.6% below this industry median. Based on the distribution chart, Hikari Business Form Co ranks #179 out of 724 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Hikari Business Form Co has a GF Score™ of 55/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hikari Business Form Co's Cyclically Adjusted PB Ratio compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Hikari Business Form Co ranks #179 out of 724 companies for Cyclically Adjusted PB Ratio. This places Hikari Business Form Co in the top 25% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PB Ratio is 1.56. Hikari Business Form Co's value of 0.77 is 50.6% below this benchmark. Historically, Hikari Business Form Co's own Cyclically Adjusted PB Ratio has ranged from 0.23 to 0.90 over the past decade. While the company's 10-year median is 0.53 vs. the industry median of 1.56, Hikari Business Form 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 Business Services company?
The median Cyclically Adjusted PB Ratio among Business Services companies is 1.56, based on 724 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. Hikari Business Form Co's current Cyclically Adjusted PB Ratio of 0.77 is 50.6% 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 Hikari Business Form Co and its competitors. For the Business Services industry, the median Cyclically Adjusted PB Ratio is 1.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hikari Business Form Co's current Cyclically Adjusted PB Ratio is 0.77, which is 45% above median its own 10-year median of 0.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hikari Business Form Co stock overvalued right now?
Based on GuruFocus' analysis, Hikari Business Form Co (TSE:3948) is currently considered Significantly Overvalued. The stock's GF Value™ is 円685.53, compared to a current price of 円1,150.00 — trading 67.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.77, which is 45% above median its 10-year median of 0.53 and 50.6% below the Business Services industry median of 1.56. Hikari Business Form Co's overall GF Score™ is 55/100 with 5 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 Hikari Business Form Co (TSE:3948), the current Cyclically Adjusted PB Ratio is 0.77 as of Aug. 10, 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 Hikari Business Form Co (TSE:3948) Overvalued in 2026?
Based on GuruFocus' analysis, Hikari Business Form Co stock appears to be overvalued.
The current stock price of 円1,150.00 is trading 67.8% above its estimated GF Value™ of 円685.53.
GuruFocus considers Hikari Business Form Co to be Significantly Overvalued.
Key valuation signals for TSE:3948:
Cyclically Adjusted PB Ratio: 0.77 (45% above median its 10-year median of 0.53)
GF Value™: 円685.53 vs. price of 円1,150.00 (67.8% above fair value)
Industry Position: 50.6% below the Business Services median (#179 of 724)
No single metric tells the full story. See the TSE:3948 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hikari Business Form Co Ltd is engaged in providing printing services. The services offered by the company are commercial printing, business process outsourcing, post process, web solution, DPP, and others.
55GF Score
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