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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.
AITSE:4388 -0.28%73 Cyclically Adjusted PB Ratio is 1.39 as of Aug. 08, 2026, which is 27% below its 10-year median of 1.90. GuruFocus rates TSE:4388 with a GF Score™ of 73/100 and a GF Value™ of 円1,101.00 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,968 Hardware companies, AI ranks better than 61.08% on this metric.
As of today (2026-08-08), AI's current share price is 円361.00. AI's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar26 was 円260.10. AI's Cyclically Adjusted PB Ratio for today is 1.39.
The historical rank and industry rank for AI's Cyclically Adjusted PB Ratio or its related term are showing as below:
TSE:4388'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.36 Med: 1.9 Max: 2.41
Current: 1.38
During the past 11 years, AI's highest Cyclically Adjusted PB Ratio was 2.41. The lowest was 1.36. And the median was 1.90.
TSE:4388's Cyclically Adjusted PB Ratio is ranked better than 61.08% of 1968
companies
in the Hardware industry
Industry Median: 2
vs TSE:4388: 1.38
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.
AI's adjusted book value per share data of for the fiscal year that ended in Mar26 was 円363.501. 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260.10 for the trailing ten years ended in Mar26.
Shiller PE for Stocks: The True Measure of Stock Valuation
AI (TSE:4388) 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.
AI Cyclically Adjusted PB Ratio Related Terms
AI Cyclically Adjusted PB Ratio Historical Data
* Premium members only.
The historical data trend for AI'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:4388 vs CSCO, MSI, HPE: Cyclically Adjusted PB Ratio Comparison
For the Communication Equipment subindustry, AI'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.
AI Cyclically Adjusted PB Ratio vs Hardware Industry
For the Hardware industry and Technology sector, AI's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where AI'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.
AI'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 1.39 mean?
AI (TSE:4388) has a Cyclically Adjusted PB Ratio of 1.39 as of Aug. 08, 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 AI and its competitors. This is 27% below median its historical median of 1.90. Over the past decade, AI's Cyclically Adjusted PB Ratio has ranged from 1.36 to 2.41. According to the industry distribution chart, AI ranks #766 out of 1968 companies in the Hardware industry, placing it in the top 38.9%.
Is AI's Cyclically Adjusted PB Ratio too high?
AI's current Cyclically Adjusted PB Ratio of 1.39 is 27% below median its 10-year median of 1.90. Over the past 10 years, this metric has ranged from a low of 1.36 to a high of 2.41. The Hardware industry median Cyclically Adjusted PB Ratio is 2.00. AI's value of 1.39 is 30.5% below this industry median. Based on the distribution chart, AI ranks #766 out of 1968 companies in the Hardware industry, which is above the industry midpoint. Overall, AI has a GF Score™ of 73/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does AI's Cyclically Adjusted PB Ratio compare to CSCO and MSI?
According to the Hardware industry distribution chart, AI ranks #766 out of 1968 companies for Cyclically Adjusted PB Ratio. This puts AI in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 2.00. AI's value of 1.39 is 30.5% below this benchmark. Historically, AI's own Cyclically Adjusted PB Ratio has ranged from 1.36 to 2.41 over the past decade. While the company's 10-year median is 1.90 vs. the industry median of 2.00, AI 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 Hardware company?
The median Cyclically Adjusted PB Ratio among Hardware companies is 2.00, based on 1,968 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. AI's current Cyclically Adjusted PB Ratio of 1.39 is 30.5% 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 AI and its competitors. For the Hardware industry, the median Cyclically Adjusted PB Ratio is 2.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AI's current Cyclically Adjusted PB Ratio is 1.39, which is 27% below median its own 10-year median of 1.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AI stock overvalued right now?
Based on GuruFocus' analysis, AI (TSE:4388) is currently considered Significantly Undervalued. The stock's GF Value™ is 円1,101.00, compared to a current price of 円361.00 — trading 67.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.39, which is 27% below median its 10-year median of 1.90 and 30.5% below the Hardware industry median of 2.00. AI's overall GF Score™ is 73/100 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 AI (TSE:4388), the current Cyclically Adjusted PB Ratio is 1.39 as of Aug. 08, 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 AI (TSE:4388) Overvalued in 2026?
Based on GuruFocus' analysis, AI stock appears to be undervalued.
The current stock price of 円361.00 is trading 67.2% below its estimated GF Value™ of 円1,101.00.
GuruFocus considers AI to be Significantly Undervalued.
Key valuation signals for TSE:4388:
Cyclically Adjusted PB Ratio: 1.39 (27% below median its 10-year median of 1.90)
GF Value™: 円1,101.00 vs. price of 円361.00 (67.2% below fair value)
Industry Position: 30.5% below the Hardware median (#766 of 1968)
No single metric tells the full story. See the TSE:4388 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AI Inc provides and develops voice synthesis systems and consults related business services in Japan. The company provides a high-quality speech synthesis engine capable of freely synthesizing speech with more human-like natural speech, employing a corpus-based speech synthesis method that combines human voice rather than conventional machine sound. The company's product includes AlTalk, AlTalk SDK, AlTalk Server, and AlTalk Custom Voice.
73GF Score
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