Rasa Industries (TSE:4022) 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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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:4022 Rasa Industries Ltd TSE:4022
72 GF Score
Price 円1,832.00
GF Value 円683.41
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Rasa Industries Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Rasa Industries  (TSE:4022) 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.


Rasa Industries Cyclically Adjusted PB Ratio Related Terms


Rasa Industries Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Rasa Industries'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.

Rasa Industries Cyclically Adjusted PB Ratio Chart

Rasa Industries 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 0.98 1.13 1.31 1.15 3.01

Rasa Industries Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 1.70 1.86 2.47 3.16 3.80

TSE:4022 vs LIN, SHW, ECL: Cyclically Adjusted PB Ratio Comparison

For the Specialty Chemicals subindustry, Rasa Industries'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.


Rasa Industries Cyclically Adjusted PB Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Rasa Industries's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:4022
72GF Score
Rasa Industries Ltd TSE:4022
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Rasa Industries 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.

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

For example, Rasa Industries'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)
=823.966/113.6000*113.6000
=823.966

Current CPI (Jun. 2026) = 113.6000.

Rasa Industries Quarterly Data

Book Value per Share CPI Adj_Book
201609 250.457 98.000 290.326
201612 261.130 98.400 301.467
201703 271.930 98.100 314.895
201706 277.758 98.500 320.338
201709 292.075 98.800 335.827
201712 308.300 99.400 352.343
201803 328.189 99.200 375.829
201806 330.996 99.200 379.044
201809 344.962 99.900 392.269
201812 357.706 99.700 407.577
201903 372.093 99.700 423.970
201906 369.672 99.800 420.789
201909 376.566 100.100 427.352
201912 383.911 100.500 433.953
202003 397.390 100.300 450.085
202006 400.169 99.900 455.047
202009 412.921 99.900 469.548
202012 425.794 99.300 487.112
202103 447.197 99.900 508.524
202106 455.639 99.500 520.207
202109 472.026 100.100 535.686
202112 487.177 100.100 552.880
202203 511.760 101.100 575.034
202206 527.137 101.800 588.239
202209 559.506 103.100 616.488
202212 579.912 104.100 632.834
202303 587.674 104.400 639.461
202306 586.444 105.200 633.270
202309 602.910 106.200 644.921
202312 602.302 106.800 640.651
202403 634.059 107.200 671.913
202406 652.302 108.200 684.857
202409 661.778 108.900 690.340
202412 660.652 110.700 677.959
202503 714.118 111.100 730.187
202506 712.752 111.700 724.876
202509 761.088 112.000 771.961
202512 774.721 113.000 778.835
202603 815.128 112.700 821.637
202606 823.966 113.600 823.966

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 Rasa Industries (TSE:4022) Overvalued in 2026?

Based on GuruFocus' analysis, Rasa Industries stock appears to be overvalued. The current stock price of 円1,832.00 is trading 168.1% above its estimated GF Value™ of 円683.41. GuruFocus considers Rasa Industries to be Significantly Overvalued.

Key valuation signals for TSE:4022:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: 円683.41 vs. price of 円1,832.00 (168.1% above fair value)
  • GF Score™: 72/100 with 1 warning sign

No single metric tells the full story. See the TSE:4022 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Rasa Industries Business Description

Address 1-18-13 Sotokanda, Chiyoda-ku, Tokyo, JPN, 101-0021
Rasa Industries Ltd is engaged in the chemicals, machinery, and electronic materials business. The chemicals division manufactures and sells basic chemicals based on phosphorus-based products. The machinery division provides various machines such as drilling, crushing, and sorting, and the Electronic materials division is engaged in the development of the electronics industry by supplying high-purity inorganic materials that are raw materials for compound semiconductors, as well as resist strippers and coating agents used in semiconductor and liquid crystal panel manufacturing processes.
72GF Score

Get the complete analysis for TSE:4022

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

円1,832.00
Price
円683.41
GF Value