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D. Western Therapeutics InstituteTSE:4576 +1.33%47 Cyclically Adjusted PB Ratio is 1.08 as of Aug. 02, 2026, which is 60% below its 10-year median of 2.73. GuruFocus rates TSE:4576 with a GF Score™ of 47/100 and a GF Value™ of 円68.10 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 697 Biotechnology companies, D. Western Therapeutics Institute ranks better than 58.82% on this metric.
The historical rank and industry rank for D. Western Therapeutics Institute's Cyclically Adjusted PB Ratio or its related term are showing as below:
TSE:4576'
s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.86 Med: 2.73 Max: 9.06
Current: 1.11
During the past years, D. Western Therapeutics Institute's highest Cyclically Adjusted PB Ratio was 9.06. The lowest was 0.86. And the median was 2.73.
TSE:4576's Cyclically Adjusted PB Ratio is ranked better than 58.82% of 697
companies
in the Biotechnology industry
Industry Median: 1.6
vs TSE:4576: 1.11
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.
D. Western Therapeutics Institute's adjusted book value per share data for the three months ended in Dec. 2025 was 円26.459. 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70.20 for the trailing ten years ended in Dec. 2025.
Shiller PE for Stocks: The True Measure of Stock Valuation
D. Western Therapeutics Institute (TSE:4576) 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.
D. Western Therapeutics Institute Cyclically Adjusted PB Ratio Related Terms
D. Western Therapeutics Institute Cyclically Adjusted PB Ratio Historical Data
* 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.
D. Western Therapeutics Institute Cyclically Adjusted PB Ratio Chart
TSE:4576 vs VRTX, REGN, RVMD: Cyclically Adjusted PB Ratio Comparison
For the Biotechnology subindustry, D. Western Therapeutics Institute'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.
D. Western Therapeutics Institute Cyclically Adjusted PB Ratio vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, D. Western Therapeutics Institute's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where D. Western Therapeutics Institute's Cyclically Adjusted PB Ratio falls into.
D. Western Therapeutics Institute 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.
* 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 1.08 mean?
D. Western Therapeutics Institute (TSE:4576) has a Cyclically Adjusted PB Ratio of 1.08 as of Aug. 02, 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 D. Western Therapeutics Institute and its competitors. This is 60% below median its historical median of 2.73. Over the past decade, D. Western Therapeutics Institute's Cyclically Adjusted PB Ratio has ranged from 0.86 to 9.06. According to the industry distribution chart, D. Western Therapeutics Institute ranks #287 out of 697 companies in the Biotechnology industry, placing it in the top 41.2%.
Is D. Western Therapeutics Institute's Cyclically Adjusted PB Ratio too high?
D. Western Therapeutics Institute's current Cyclically Adjusted PB Ratio of 1.08 is 60% below median its 10-year median of 2.73. Over the past 10 years, this metric has ranged from a low of 0.86 to a high of 9.06. The Biotechnology industry median Cyclically Adjusted PB Ratio is 1.60. D. Western Therapeutics Institute's value of 1.08 is 32.5% below this industry median. Based on the distribution chart, D. Western Therapeutics Institute ranks #287 out of 697 companies in the Biotechnology industry, which is above the industry midpoint. Overall, D. Western Therapeutics Institute has a GF Score™ of 47/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does D. Western Therapeutics Institute's Cyclically Adjusted PB Ratio compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, D. Western Therapeutics Institute ranks #287 out of 697 companies for Cyclically Adjusted PB Ratio. This puts D. Western Therapeutics Institute in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.60. D. Western Therapeutics Institute's value of 1.08 is 32.5% below this benchmark. Historically, D. Western Therapeutics Institute's own Cyclically Adjusted PB Ratio has ranged from 0.86 to 9.06 over the past decade. While the company's 10-year median is 2.73 vs. the industry median of 1.60, D. Western Therapeutics Institute 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 Biotechnology company?
The median Cyclically Adjusted PB Ratio among Biotechnology companies is 1.60, based on 697 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. D. Western Therapeutics Institute's current Cyclically Adjusted PB Ratio of 1.08 is 32.5% 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 D. Western Therapeutics Institute and its competitors. For the Biotechnology industry, the median Cyclically Adjusted PB Ratio is 1.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. D. Western Therapeutics Institute's current Cyclically Adjusted PB Ratio is 1.08, which is 60% below median its own 10-year median of 2.73. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is D. Western Therapeutics Institute stock overvalued right now?
Based on GuruFocus' analysis, D. Western Therapeutics Institute (TSE:4576) is currently considered Modestly Overvalued. The stock's GF Value™ is 円68.10, compared to a current price of 円76.00 — trading 11.6% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.08, which is 60% below median its 10-year median of 2.73 and 32.5% below the Biotechnology industry median of 1.60. D. Western Therapeutics Institute's overall GF Score™ is 47/100 with 3 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 D. Western Therapeutics Institute (TSE:4576), the current Cyclically Adjusted PB Ratio is 1.08 as of Aug. 02, 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 D. Western Therapeutics Institute (TSE:4576) Overvalued in 2026?
Based on GuruFocus' analysis, D. Western Therapeutics Institute stock appears to be overvalued.
The current stock price of 円76.00 is trading 11.6% above its estimated GF Value™ of 円68.10.
GuruFocus considers D. Western Therapeutics Institute to be Modestly Overvalued.
Key valuation signals for TSE:4576:
Cyclically Adjusted PB Ratio: 1.08 (60% below median its 10-year median of 2.73)
GF Value™: 円68.10 vs. price of 円76.00 (11.6% above fair value)
Industry Position: 32.5% below the Biotechnology median (#287 of 697)
No single metric tells the full story. See the TSE:4576 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
D. Western Therapeutics Institute Inc is engaged in the research and development of pharmaceutical drugs in Japan. Its products include ophthalmic solution and agents for antiplatelet and anti-glaucoma.
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