TOSE Co (TSE:4728) Cyclically Adjusted PB Ratio: 0.75 (As of Aug. 14, 2026) — 22% Below Median

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TSE:4728 TOSE Co Ltd TSE:4728
51 GF Score
Price 円650.00
GF Value 円956.55
Valuation Significantly Undervalued
! 1 Warning Sign
View Full Analysis

What is TOSE Co Cyclically Adjusted PB Ratio?

TOSE Co TSE:4728 -0.46% 51 Cyclically Adjusted PB Ratio is 0.75 as of Aug. 14, 2026, which is 22% below its 10-year median of 0.96. GuruFocus rates TSE:4728 with a GF Score™ of 51/100 and a GF Value™ of 円956.55 (Significantly Undervalued). The stock has 1 warning sign investors should review. Among 344 Interactive Media companies, TOSE Co ranks better than 69.19% on this metric.

As of today (2026-08-14), TOSE Co's current share price is 円650.00. TOSE Co's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 was 円863.25. TOSE Co's Cyclically Adjusted PB Ratio for today is 0.75.

The historical rank and industry rank for TOSE Co's Cyclically Adjusted PB Ratio or its related term are showing as below:

TSE:4728' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.71   Med: 0.96   Max: 4.18
Current: 0.75

During the past years, TOSE Co's highest Cyclically Adjusted PB Ratio was 4.18. The lowest was 0.71. And the median was 0.96.

TSE:4728's Cyclically Adjusted PB Ratio is ranked better than
69.19% of 344 companies
in the Interactive Media industry
Industry Median: 1.505 vs TSE:4728: 0.75

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.

TOSE Co's adjusted book value per share data for the three months ended in Feb. 2026 was 円836.865. 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863.25 for the trailing ten years ended in Feb. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


TOSE Co  (TSE:4728) 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.


TOSE Co Cyclically Adjusted PB Ratio Related Terms


TOSE Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for TOSE 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.

TOSE Co Cyclically Adjusted PB Ratio Chart

TOSE Co Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.02 0.98 0.89 0.77 0.79

TOSE Co Quarterly Data
May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 0.74 0.79 0.72 0.75 0.00

TSE:4728 vs NTES, EA, TTWO: Cyclically Adjusted PB Ratio Comparison

For the Electronic Gaming & Multimedia subindustry, TOSE 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.


TOSE Co Cyclically Adjusted PB Ratio vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, TOSE Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:4728
51GF Score
TOSE Co Ltd TSE:4728
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TOSE 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.

TOSE Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=650.00/863.25
=0.75

* 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.

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

For example, TOSE Co's adjusted Book Value per Share data for the three months ended in Feb. 2026 was:

Adj_Book=Book Value per Share/CPI of Feb. 2026 (Change)*Current CPI (Feb. 2026)
=836.865/112.2000*112.2000
=836.865

Current CPI (Feb. 2026) = 112.2000.

TOSE Co Quarterly Data

Book Value per Share CPI Adj_Book
201602 770.038 97.800 883.418
201605 760.126 98.200 868.494
201608 764.590 97.900 876.272
201611 750.723 98.600 854.271
201702 747.205 98.100 854.601
201705 750.005 98.600 853.454
201708 775.740 98.500 883.635
201711 759.986 99.100 860.448
201802 768.799 99.500 866.927
201805 761.594 99.300 860.532
201808 775.504 99.800 871.859
201811 758.626 100.000 851.178
201902 763.387 99.700 859.098
201905 752.528 100.000 844.336
201908 782.162 100.000 877.586
201911 777.129 100.500 867.601
202002 782.566 100.300 875.413
202005 769.312 100.100 862.306
202008 792.412 100.100 888.198
202011 771.031 99.500 869.444
202102 772.278 99.800 868.232
202105 780.045 99.400 880.493
202108 794.868 99.700 894.525
202111 793.489 100.100 889.405
202202 792.624 100.700 883.142
202205 795.461 101.800 876.726
202208 815.277 102.700 890.692
202211 818.536 103.900 883.924
202302 838.464 104.000 904.574
202305 851.664 105.100 909.198
202308 861.439 105.900 912.686
202311 829.031 106.900 870.134
202402 807.718 106.900 847.764
202405 783.079 108.100 812.779
202408 797.403 109.100 820.061
202502 795.608 110.800 805.661
202505 786.962 111.800 789.778
202508 807.743 112.100 808.464
202511 823.153 113.200 815.881
202602 836.865 112.200 836.865

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.

What does a Cyclically Adjusted PB Ratio of 0.75 mean?
TOSE Co (TSE:4728) has a Cyclically Adjusted PB Ratio of 0.75 as of Aug. 14, 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 TOSE Co and its competitors. This is 22% below median its historical median of 0.96. Over the past decade, TOSE Co's Cyclically Adjusted PB Ratio has ranged from 0.71 to 4.18. According to the industry distribution chart, TOSE Co ranks #106 out of 344 companies in the Interactive Media industry, placing it in the top 30.8%.
Is TOSE Co's Cyclically Adjusted PB Ratio too high?
TOSE Co's current Cyclically Adjusted PB Ratio of 0.75 is 22% below median its 10-year median of 0.96. Over the past 10 years, this metric has ranged from a low of 0.71 to a high of 4.18. The Interactive Media industry median Cyclically Adjusted PB Ratio is 1.51. TOSE Co's value of 0.75 is 50.2% below this industry median. Based on the distribution chart, TOSE Co ranks #106 out of 344 companies in the Interactive Media industry, which is above the industry midpoint. Overall, TOSE Co has a GF Score™ of 51/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TOSE Co's Cyclically Adjusted PB Ratio compare to NTES and EA?
According to the Interactive Media industry distribution chart, TOSE Co ranks #106 out of 344 companies for Cyclically Adjusted PB Ratio. This puts TOSE Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.51. TOSE Co's value of 0.75 is 50.2% below this benchmark. Historically, TOSE Co's own Cyclically Adjusted PB Ratio has ranged from 0.71 to 4.18 over the past decade. While the company's 10-year median is 0.96 vs. the industry median of 1.51, TOSE Co 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 an Interactive Media company?
The median Cyclically Adjusted PB Ratio among Interactive Media companies is 1.51, based on 344 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. TOSE Co's current Cyclically Adjusted PB Ratio of 0.75 is 50.2% 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 TOSE Co and its competitors. For the Interactive Media industry, the median Cyclically Adjusted PB Ratio is 1.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOSE Co's current Cyclically Adjusted PB Ratio is 0.75, which is 22% below median its own 10-year median of 0.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TOSE Co stock overvalued right now?
Based on GuruFocus' analysis, TOSE Co (TSE:4728) is currently considered Significantly Undervalued. The stock's GF Value™ is 円956.55, compared to a current price of 円650.00 — trading 32% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.75, which is 22% below median its 10-year median of 0.96 and 50.2% below the Interactive Media industry median of 1.51. TOSE Co's overall GF Score™ is 51/100 with 1 warning sign 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 TOSE Co (TSE:4728), the current Cyclically Adjusted PB Ratio is 0.75 as of Aug. 14, 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 TOSE Co (TSE:4728) Overvalued in 2026?

Based on GuruFocus' analysis, TOSE Co stock appears to be undervalued. The current stock price of 円650.00 is trading 32% below its estimated GF Value™ of 円956.55. GuruFocus considers TOSE Co to be Significantly Undervalued.

Key valuation signals for TSE:4728:

  • Cyclically Adjusted PB Ratio: 0.75 (22% below median its 10-year median of 0.96)
  • GF Value™: 円956.55 vs. price of 円650.00 (32% below fair value)
  • GF Score™: 51/100 with 1 warning sign
  • Industry Position: 50.2% below the Interactive Media median (#106 of 344)

No single metric tells the full story. See the TSE:4728 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TOSE Co Business Description

Address Higasinotoindori Shijo Sagaru, Shimogyo-ku, Kyoto, JPN, 600-8091
TOSE Co Ltd is engaged in the planning, development and operation of game software and mobile contents. It is well known for the development of Nintendo's Mr. Game and Watch Gallery series, as well as working on several other Nintendo products.
51GF Score

Get the complete analysis for TSE:4728

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

円650.00
Price
円956.55
GF Value