Pack (TSE:3950) Cyclically Adjusted PB Ratio: 1.24 (As of Aug. 15, 2026) — Near Median

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Director of Data and Quant Analytics at GuruFocus
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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:3950 Pack Corp TSE:3950
73 GF Score
Price 円1,467.00
GF Value 円1,312.70
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Pack Cyclically Adjusted PB Ratio?

Pack TSE:3950 +1.95% 73 Cyclically Adjusted PB Ratio is 1.24 as of Aug. 15, 2026, which is 7% above its 10-year median of 1.16. GuruFocus rates TSE:3950 with a GF Score™ of 73/100 and a GF Value™ of 円1,312.70 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 309 Packaging & Containers companies, Pack ranks worse than 52.43% on this metric.

As of today (2026-08-15), Pack's current share price is 円1467.00. Pack's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 was 円1,185.77. Pack's Cyclically Adjusted PB Ratio for today is 1.24.

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

TSE:3950' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.81   Med: 1.16   Max: 2.1
Current: 1.24

During the past years, Pack's highest Cyclically Adjusted PB Ratio was 2.10. The lowest was 0.81. And the median was 1.16.

TSE:3950's Cyclically Adjusted PB Ratio is ranked worse than
52.43% of 309 companies
in the Packaging & Containers industry
Industry Median: 1.17 vs TSE:3950: 1.24

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.

Pack's adjusted book value per share data for the three months ended in Jun. 2026 was 円1,402.762. 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1,185.77 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pack  (TSE:3950) 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.


Pack Cyclically Adjusted PB Ratio Related Terms


Pack Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Pack'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.

Pack Cyclically Adjusted PB Ratio Chart

Pack Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.06 0.86 1.12 1.11 1.12

Pack Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 0.99 1.06 1.12 1.13 1.14

TSE:3950 vs SW, PKG, IP: Cyclically Adjusted PB Ratio Comparison

For the Packaging & Containers subindustry, Pack'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.


Pack Cyclically Adjusted PB Ratio vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, Pack's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:3950
73GF Score
Pack Corp TSE:3950
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pack 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1467.00/1185.77
=1.24

* 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.

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

For example, Pack'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)
=1402.762/113.6000*113.6000
=1,402.762

Current CPI (Jun. 2026) = 113.6000.

Pack Quarterly Data

Book Value per Share CPI Adj_Book
201606 779.101 98.100 902.201
201609 784.063 98.000 908.873
201612 825.460 98.400 952.970
201703 833.668 98.100 965.389
201706 858.036 98.500 989.572
201709 866.499 98.800 996.298
201712 907.695 99.400 1,037.366
201803 911.059 99.200 1,043.310
201806 929.968 99.200 1,064.963
201809 937.580 99.900 1,066.157
201812 963.135 99.700 1,097.414
201903 969.829 99.700 1,105.041
201906 980.992 99.800 1,116.640
201909 988.968 100.100 1,122.345
201912 1,027.054 100.500 1,160.929
202003 1,016.777 100.300 1,151.604
202006 1,021.942 99.900 1,162.088
202009 1,009.135 99.900 1,147.525
202012 1,048.129 99.300 1,199.068
202103 1,055.325 99.900 1,200.049
202106 1,063.312 99.500 1,213.992
202109 1,067.595 100.100 1,211.576
202112 1,088.269 100.100 1,235.039
202203 1,094.499 101.100 1,229.823
202206 1,110.924 101.800 1,239.695
202209 1,116.768 103.100 1,230.503
202212 1,146.261 104.100 1,250.867
202303 1,155.994 104.400 1,257.863
202306 1,187.206 105.200 1,282.002
202309 1,200.708 106.200 1,284.373
202312 1,246.234 106.800 1,325.582
202403 1,260.649 107.200 1,335.912
202406 1,282.417 108.200 1,346.419
202412 1,321.892 110.700 1,356.522
202503 1,311.215 111.100 1,340.720
202506 1,331.850 111.700 1,354.505
202509 1,339.091 112.000 1,358.221
202512 1,385.183 113.000 1,392.538
202603 1,381.238 112.700 1,392.268
202606 1,402.762 113.600 1,402.762

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 1.24 mean?
Pack (TSE:3950) has a Cyclically Adjusted PB Ratio of 1.24 as of Aug. 15, 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 Pack and its competitors. This is near median its historical median of 1.16. Over the past decade, Pack's Cyclically Adjusted PB Ratio has ranged from 0.81 to 2.10. According to the industry distribution chart, Pack ranks #162 out of 309 companies in the Packaging & Containers industry, placing it in the top 52.4%.
Is Pack's Cyclically Adjusted PB Ratio too high?
Pack's current Cyclically Adjusted PB Ratio of 1.24 is near median its 10-year median of 1.16. Over the past 10 years, this metric has ranged from a low of 0.81 to a high of 2.10. The Packaging & Containers industry median Cyclically Adjusted PB Ratio is 1.17. Pack's value of 1.24 is 6% above this industry median. Based on the distribution chart, Pack ranks #162 out of 309 companies in the Packaging & Containers industry, which is below the industry midpoint. Overall, Pack has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pack's Cyclically Adjusted PB Ratio compare to SW and PKG?
According to the Packaging & Containers industry distribution chart, Pack ranks #162 out of 309 companies for Cyclically Adjusted PB Ratio. This places Pack in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.17. Pack's value of 1.24 is 6% above this benchmark. Historically, Pack's own Cyclically Adjusted PB Ratio has ranged from 0.81 to 2.10 over the past decade. While the company's 10-year median is 1.16 vs. the industry median of 1.17, Pack 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 Packaging & Containers company?
The median Cyclically Adjusted PB Ratio among Packaging & Containers companies is 1.17, based on 309 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. Pack's current Cyclically Adjusted PB Ratio of 1.24 is 6% 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 Pack and its competitors. For the Packaging & Containers industry, the median Cyclically Adjusted PB Ratio is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pack's current Cyclically Adjusted PB Ratio is 1.24, which is near median its own 10-year median of 1.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pack stock overvalued right now?
Based on GuruFocus' analysis, Pack (TSE:3950) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,312.70, compared to a current price of 円1,467.00 — trading 11.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.24, which is near median its 10-year median of 1.16 and 6% above the Packaging & Containers industry median of 1.17. Pack's overall GF Score™ is 73/100 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 Pack (TSE:3950), the current Cyclically Adjusted PB Ratio is 1.24 as of Aug. 15, 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 Pack (TSE:3950) Overvalued in 2026?

Based on GuruFocus' analysis, Pack stock appears to be overvalued. The current stock price of 円1,467.00 is trading 11.8% above its estimated GF Value™ of 円1,312.70. GuruFocus considers Pack to be Modestly Overvalued.

Key valuation signals for TSE:3950:

  • Cyclically Adjusted PB Ratio: 1.24 (near median its 10-year median of 1.16)
  • GF Value™: 円1,312.70 vs. price of 円1,467.00 (11.8% above fair value)
  • GF Score™: 73/100 with 2 warning signs
  • Industry Position: 6% above the Packaging & Containers median (#162 of 309)

No single metric tells the full story. See the TSE:3950 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pack Business Description

Address 2-9-3 Higashikobashi, Higashinari-ku, Osaka, JPN, 530-6020
Pack Corp is a paper and chemical products company. It manufactures and sells paper products, chemical products, and other goods, as well as related research, logistics, and services. The product portfolio of the company include paper bags, printed paper containers, corrugated cardboard, plastic bags, tailor bags, price tags, design work, advertising materials, etc.
73GF Score

Get the complete analysis for TSE:3950

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

円1,467.00
Price
円1,312.70
GF Value