KH Neochem Co (TSE:4189) Cyclically Adjusted PB Ratio: (As of Aug. 17, 2026)

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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:4189 KH Neochem Co Ltd TSE:4189
80 GF Score
Price 円3,395.00
GF Value 円2,467.07
Valuation Significantly Overvalued
! 7 Warning Signs
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What is KH Neochem Co Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


KH Neochem Co  (TSE:4189) 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.


KH Neochem Co Cyclically Adjusted PB Ratio Related Terms


KH Neochem Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for KH Neochem 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.

KH Neochem Co Cyclically Adjusted PB Ratio Chart

KH Neochem Co 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 0.00 0.00 0.00 1.59 1.70

KH Neochem Co 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 0.00 0.00 1.70 0.00 0.00

TSE:4189 vs DOW: Cyclically Adjusted PB Ratio Comparison

For the Chemicals subindustry, KH Neochem 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.


KH Neochem Co Cyclically Adjusted PB Ratio vs Chemicals Industry

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

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


TSE:4189
80GF Score
KH Neochem Co Ltd TSE:4189
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

KH Neochem 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.

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

For example, KH Neochem Co'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)
=2131.94/113.6000*113.6000
=2,131.940

Current CPI (Jun. 2026) = 113.6000.

KH Neochem Co Quarterly Data

Book Value per Share CPI Adj_Book
201609 546.603 98.000 633.613
201612 672.454 98.400 776.329
201703 686.141 98.100 794.553
201706 742.932 98.500 856.823
201709 790.797 98.800 909.256
201712 842.085 99.400 962.383
201803 873.212 99.200 999.969
201806 908.435 99.200 1,040.305
201809 919.450 99.900 1,045.541
201812 971.901 99.700 1,107.402
201903 1,006.605 99.700 1,146.944
201906 1,041.735 99.800 1,185.783
201909 1,065.125 100.100 1,208.773
201912 1,109.868 100.500 1,254.537
202003 1,109.429 100.300 1,256.542
202006 1,123.858 99.900 1,277.981
202009 1,113.337 99.900 1,266.017
202012 1,168.584 99.300 1,336.870
202103 1,199.052 99.900 1,363.487
202106 1,285.607 99.500 1,467.788
202109 1,379.246 100.100 1,565.258
202112 1,479.378 100.100 1,678.895
202203 1,521.161 101.100 1,709.237
202206 1,541.607 101.800 1,720.300
202209 1,532.340 103.100 1,688.398
202212 1,601.220 104.100 1,747.345
202303 1,605.779 104.400 1,747.284
202306 1,653.671 105.200 1,785.713
202309 1,650.919 106.200 1,765.955
202312 1,720.784 106.800 1,830.347
202403 1,733.715 107.200 1,837.220
202406 1,777.700 108.200 1,866.421
202409 1,768.433 108.900 1,844.757
202412 1,866.560 110.700 1,915.458
202503 1,853.506 111.100 1,895.214
202506 1,910.256 111.700 1,942.749
202509 1,900.626 112.000 1,927.778
202512 1,990.203 113.000 2,000.770
202603 1,989.717 112.700 2,005.606
202606 2,131.940 113.600 2,131.940

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 KH Neochem Co (TSE:4189) Overvalued in 2026?

Based on GuruFocus' analysis, KH Neochem Co stock appears to be overvalued. The current stock price of 円3,395.00 is trading 37.6% above its estimated GF Value™ of 円2,467.07. GuruFocus considers KH Neochem Co to be Significantly Overvalued.

Key valuation signals for TSE:4189:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: 円2,467.07 vs. price of 円3,395.00 (37.6% above fair value)
  • GF Score™: 80/100 with 7 warning signs

No single metric tells the full story. See the TSE:4189 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


KH Neochem Co Business Description

Address 2-3-1, Nihonbashi-Muromachi, 7th Floor, Muromachi Furukawa Mitsui Building, Chuo-ku, Tokyo, JPN, 103-0022
KH Neochem Co Ltd is engaged in the production and sale of various chemical products. It offers products including solvents, plasticizer alcohols and raw materials for refrigeration lubricants.
80GF Score

Get the complete analysis for TSE:4189

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

円3,395.00
Price
円2,467.07
GF Value