TOIN (TSE:7923) Cyclically Adjusted PB Ratio: 0.59 (As of Aug. 08, 2026) — 90% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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:7923 TOIN Corp TSE:7923
50 GF Score
Price 円1,178.00
GF Value 円719.30
! 8 Warning Signs
View Full Analysis

What is TOIN Cyclically Adjusted PB Ratio?

TOIN TSE:7923 -0.51% 50 Cyclically Adjusted PB Ratio is 0.59 as of Aug. 08, 2026, which is 90% above its 10-year median of 0.31. GuruFocus rates TSE:7923 with a GF Score™ of 50/100 and a GF Value™ of 円719.30. The stock has 8 warning signs investors should review.

As of today (2026-08-08), TOIN's current share price is 円1178.00. TOIN's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar25 was 円1,990.86. TOIN's Cyclically Adjusted PB Ratio for today is 0.59.

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

TSE:7923' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.21   Med: 0.31   Max: 0.6
Current: 0.59

During the past 13 years, TOIN's highest Cyclically Adjusted PB Ratio was 0.60. The lowest was 0.21. And the median was 0.31.

TSE:7923's Cyclically Adjusted PB Ratio is not ranked
in the Packaging & Containers industry.
Industry Median: 1.1 vs TSE:7923: 0.59

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.

TOIN's adjusted book value per share data of for the fiscal year that ended in Mar25 was 円2,170.318. 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1,990.86 for the trailing ten years ended in Mar25.

Shiller PE for Stocks: The True Measure of Stock Valuation


TOIN  (TSE:7923) 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.


TOIN Cyclically Adjusted PB Ratio Related Terms


TOIN Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for TOIN'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.

TOIN Cyclically Adjusted PB Ratio Chart

TOIN Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.31 0.30 0.28 0.33 0.34

TOIN Semi-Annual Data
Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
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 0.28 0.33 0.35 0.34 0.00

TSE:7923 vs SW, PKG, IP: Cyclically Adjusted PB Ratio Comparison

For the Packaging & Containers subindustry, TOIN'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.


TOIN Cyclically Adjusted PB Ratio vs Packaging & Containers Industry

For the Packaging & Containers industry and Consumer Cyclical sector, TOIN's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:7923
50GF Score
TOIN Corp TSE:7923
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TOIN 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.

TOIN's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=1178.00/1990.86
=0.59

* 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.

TOIN's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar25 is calculated as:

For example, TOIN's adjusted Book Value per Share data for the fiscal year that ended in Mar25 was:

Adj_Book=Book Value per Share/CPI of Mar25 (Change)*Current CPI (Mar25)
=2170.318/111.1000*111.1000
=2,170.318

Current CPI (Mar25) = 111.1000.

TOIN Annual Data

Book Value per Share CPI Adj_Book
201603 1,549.140 97.900 1,758.013
201703 1,650.682 98.100 1,869.427
201803 1,816.607 99.200 2,034.527
201903 1,851.986 99.700 2,063.748
202003 1,780.725 100.300 1,972.468
202103 1,834.054 99.900 2,039.674
202203 1,821.713 101.100 2,001.902
202303 1,829.491 104.400 1,946.901
202403 1,979.567 107.200 2,051.585
202503 2,170.318 111.100 2,170.318

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 0.59 mean?
TOIN (TSE:7923) has a Cyclically Adjusted PB Ratio of 0.59 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 TOIN and its competitors. This is 90% above median its historical median of 0.31. Over the past decade, TOIN's Cyclically Adjusted PB Ratio has ranged from 0.21 to 0.60.
Is TOIN's Cyclically Adjusted PB Ratio too high?
TOIN's current Cyclically Adjusted PB Ratio of 0.59 is 90% above median its 10-year median of 0.31. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 0.60. The Packaging & Containers industry median Cyclically Adjusted PB Ratio is 1.10. TOIN's value of 0.59 is 46.4% below this industry median. Overall, TOIN has a GF Score™ of 50/100, reflecting its overall financial health beyond just this single metric.
How does TOIN's Cyclically Adjusted PB Ratio compare to SW and PKG?
TOIN's Cyclically Adjusted PB Ratio of 0.59 can be compared against companies in the Packaging & Containers industry. The industry median Cyclically Adjusted PB Ratio is 1.10. TOIN's value of 0.59 is 46.4% below this benchmark. Historically, TOIN's own Cyclically Adjusted PB Ratio has ranged from 0.21 to 0.60 over the past decade. While the company's 10-year median is 0.31 vs. the industry median of 1.10, TOIN 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 Packaging & Containers company?
The median Cyclically Adjusted PB Ratio among Packaging & Containers companies is 1.10, based on 312 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. TOIN's current Cyclically Adjusted PB Ratio of 0.59 is 46.4% 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 TOIN and its competitors. For the Packaging & Containers industry, the median Cyclically Adjusted PB Ratio is 1.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TOIN's current Cyclically Adjusted PB Ratio is 0.59, which is 90% above median its own 10-year median of 0.31. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TOIN stock overvalued right now?
TOIN (TSE:7923) has a current Cyclically Adjusted PB Ratio of 0.59. The stock's GF Value™ is 円719.30, compared to a current price of 円1,178.00 — trading 63.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.59, which is 90% above median its 10-year median of 0.31 and 46.4% below the Packaging & Containers industry median of 1.10. TOIN's overall GF Score™ is 50/100 with 8 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 TOIN (TSE:7923), the current Cyclically Adjusted PB Ratio is 0.59 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 TOIN (TSE:7923) Overvalued in 2026?

Based on GuruFocus' analysis, TOIN stock appears to be overvalued. The current stock price of 円1,178.00 is trading 63.8% above its estimated GF Value™ of 円719.30.

Key valuation signals for TSE:7923:

  • Cyclically Adjusted PB Ratio: 0.59 (90% above median its 10-year median of 0.31)
  • GF Value™: 円719.30 vs. price of 円1,178.00 (63.8% above fair value)
  • GF Score™: 50/100 with 8 warning signs
  • Industry Position: 46.4% below the Packaging & Containers median

No single metric tells the full story. See the TSE:7923 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TOIN Business Description

Address 1-4-2 Kameido, Koto-ku, Tokyo, JPN
TOIN Corp is engaged in manufacturing of paper containers like food, confectionary, cosmetics, pharmaceuticals, and resin packages. The company is also engaged in the manufacture and sale of labels, contract packaging of quasi-drugs, and food, and precision coating contract work for electronic equipment components such as functional films, and is working to expand its business in a diversified manner based on printing technology.
50GF Score

Get the complete analysis for TSE:7923

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

円1,178.00
Price
円719.30
GF Value