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MercariTSE:4385 +0.91%59 Cyclically Adjusted PB Ratio is 13.71 as of Aug. 04, 2026, which is 84% above its 10-year median of 7.46. GuruFocus rates TSE:4385 with a GF Score™ of 59/100 and a GF Value™ of 円3,011.87 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 806 Retail - Cyclical companies, Mercari ranks worse than 95.66% on this metric.
As of today (2026-08-04), Mercari's current share price is 円4313.00. Mercari's Cyclically Adjusted Book per Share for the fiscal year that ended in Jun25 was 円314.52. Mercari's Cyclically Adjusted PB Ratio for today is 13.71.
The historical rank and industry rank for Mercari's Cyclically Adjusted PB Ratio or its related term are showing as below:
TSE:4385'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 6.81 Med: 7.46 Max: 13.9
Current: 13.9
During the past 10 years, Mercari's highest Cyclically Adjusted PB Ratio was 13.90. The lowest was 6.81. And the median was 7.46.
TSE:4385's Cyclically Adjusted PB Ratio is ranked worse than 95.66% of 806
companies
in the Retail - Cyclical industry
Industry Median: 1.25
vs TSE:4385: 13.90
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.
Mercari's adjusted book value per share data of for the fiscal year that ended in Jun25 was 円603.283. 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314.52 for the trailing ten years ended in Jun25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Mercari (TSE:4385) 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.
Mercari Cyclically Adjusted PB Ratio Related Terms
Mercari Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for Mercari'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.
TSE:4385 vs AMZN, BABA, PDD: Cyclically Adjusted PB Ratio Comparison
For the Internet Retail subindustry, Mercari'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.
Mercari Cyclically Adjusted PB Ratio vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Mercari's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Mercari's Cyclically Adjusted PB Ratio falls into.
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.
Mercari's Cyclically Adjusted PB Ratio for today is calculated as
* 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 13.71 mean?
Mercari (TSE:4385) has a Cyclically Adjusted PB Ratio of 13.71 as of Aug. 04, 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 Mercari and its competitors. This is 84% above median its historical median of 7.46. Over the past decade, Mercari's Cyclically Adjusted PB Ratio has ranged from 6.81 to 13.90. According to the industry distribution chart, Mercari ranks #771 out of 806 companies in the Retail - Cyclical industry, placing it in the top 95.7%.
Is Mercari's Cyclically Adjusted PB Ratio too high?
Mercari's current Cyclically Adjusted PB Ratio of 13.71 is 84% above median its 10-year median of 7.46. Over the past 10 years, this metric has ranged from a low of 6.81 to a high of 13.90. The Retail - Cyclical industry median Cyclically Adjusted PB Ratio is 1.25. Mercari's value of 13.71 is 996.8% above this industry median. Based on the distribution chart, Mercari ranks #771 out of 806 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Mercari has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mercari's Cyclically Adjusted PB Ratio compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, Mercari ranks #771 out of 806 companies for Cyclically Adjusted PB Ratio. This places Mercari in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.25. Mercari's value of 13.71 is 996.8% above this benchmark. Historically, Mercari's own Cyclically Adjusted PB Ratio has ranged from 6.81 to 13.90 over the past decade. While the company's 10-year median is 7.46 vs. the industry median of 1.25, Mercari 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 Retail - Cyclical company?
The median Cyclically Adjusted PB Ratio among Retail - Cyclical companies is 1.25, based on 806 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. Mercari's current Cyclically Adjusted PB Ratio of 13.71 is 996.8% 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 Mercari and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PB Ratio is 1.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mercari's current Cyclically Adjusted PB Ratio is 13.71, which is 84% above median its own 10-year median of 7.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mercari stock overvalued right now?
Based on GuruFocus' analysis, Mercari (TSE:4385) is currently considered Significantly Overvalued. The stock's GF Value™ is 円3,011.87, compared to a current price of 円4,313.00 — trading 43.2% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 13.71, which is 84% above median its 10-year median of 7.46 and 996.8% above the Retail - Cyclical industry median of 1.25. Mercari's overall GF Score™ is 59/100 with 9 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 Mercari (TSE:4385), the current Cyclically Adjusted PB Ratio is 13.71 as of Aug. 04, 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 Mercari (TSE:4385) Overvalued in 2026?
Based on GuruFocus' analysis, Mercari stock appears to be overvalued.
The current stock price of 円4,313.00 is trading 43.2% above its estimated GF Value™ of 円3,011.87.
GuruFocus considers Mercari to be Significantly Overvalued.
Key valuation signals for TSE:4385:
Cyclically Adjusted PB Ratio: 13.71 (84% above median its 10-year median of 7.46)
GF Value™: 円3,011.87 vs. price of 円4,313.00 (43.2% above fair value)
Industry Position: 996.8% above the Retail - Cyclical median (#771 of 806)
No single metric tells the full story. See the TSE:4385 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mercari operates the largest consumer-to-consumer secondhand goods trading platform in Japan in Mercari, with over 23 million monthly active users and over JPY 1.1 trillion in gross merchandise value in fiscal 2022. We estimate that it currently has over 40% market share in the online C2C market, making it the top platform in Japan. It operates a domestic fintech business and a C2C marketplace app business in the US as well. Domestic business roughly accounts for over 95% of its total GMV.
59GF Score
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Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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