Shoei (TSE:9385) Cyclically Adjusted PB Ratio: 1.50 (As of Aug. 20, 2026) — Near 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:9385 Shoei Corp TSE:9385
66 GF Score
Price 円756.00
GF Value 円560.77
Valuation Significantly Overvalued
! 1 Warning Sign
View Full Analysis

What is Shoei Cyclically Adjusted PB Ratio?

Shoei TSE:9385 +1.61% 66 Cyclically Adjusted PB Ratio is 1.50 as of Aug. 20, 2026, which is 4% below its 10-year median of 1.57. GuruFocus rates TSE:9385 with a GF Score™ of 66/100 and a GF Value™ of 円560.77 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 683 Media - Diversified companies, Shoei ranks worse than 64.57% on this metric.

As of today (2026-08-20), Shoei's current share price is 円756.00. Shoei's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円502.49. Shoei's Cyclically Adjusted PB Ratio for today is 1.50.

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

TSE:9385' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.12   Med: 1.57   Max: 4.25
Current: 1.48

During the past years, Shoei's highest Cyclically Adjusted PB Ratio was 4.25. The lowest was 1.12. And the median was 1.57.

TSE:9385's Cyclically Adjusted PB Ratio is ranked worse than
64.57% of 683 companies
in the Media - Diversified industry
Industry Median: 1 vs TSE:9385: 1.48

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.

Shoei's adjusted book value per share data for the three months ended in Mar. 2026 was 円664.816. 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502.49 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Shoei  (TSE:9385) 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.


Shoei Cyclically Adjusted PB Ratio Related Terms


Shoei Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Shoei'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.

Shoei Cyclically Adjusted PB Ratio Chart

Shoei Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.66 1.37 1.38 1.19 1.46

Shoei Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 1.14 1.21 1.28 1.46 0.00

TSE:9385 vs APP, OMC, TTD: Cyclically Adjusted PB Ratio Comparison

For the Advertising Agencies subindustry, Shoei'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.


Shoei Cyclically Adjusted PB Ratio vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Shoei's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:9385
66GF Score
Shoei Corp TSE:9385
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Shoei 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=756.00/502.49
=1.50

* 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.

Shoei's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

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

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=664.816/112.7000*112.7000
=664.816

Current CPI (Mar. 2026) = 112.7000.

Shoei Quarterly Data

Book Value per Share CPI Adj_Book
201603 263.309 97.900 303.115
201606 266.458 98.100 306.114
201609 275.279 98.000 316.571
201612 293.802 98.400 336.499
201703 321.203 98.100 369.007
201706 328.925 98.500 376.344
201709 355.460 98.800 405.469
201712 375.086 99.400 425.274
201803 372.784 99.200 423.516
201806 372.641 99.200 423.353
201809 380.863 99.900 429.662
201812 387.198 99.700 437.685
201903 398.567 99.700 450.537
201906 381.656 99.800 430.988
201909 381.829 100.100 429.891
201912 406.542 100.500 455.893
202003 431.833 100.300 485.220
202006 438.163 99.900 494.304
202009 484.549 99.900 546.633
202012 642.363 99.300 729.046
202103 612.545 99.900 691.029
202106 594.504 99.500 673.373
202109 608.271 100.100 684.837
202112 609.993 100.100 686.775
202203 585.568 101.100 652.755
202206 563.079 101.800 623.369
202209 576.910 103.100 630.628
202212 492.531 104.100 533.220
202303 362.952 104.400 391.807
202306 419.219 105.200 449.106
202309 473.710 106.200 502.704
202312 500.741 106.800 528.404
202403 491.951 107.200 517.191
202406 494.399 108.200 514.961
202409 428.164 108.900 443.105
202503 553.489 111.100 561.460
202506 548.628 111.700 553.540
202509 584.107 112.000 587.758
202512 635.353 113.000 633.666
202603 664.816 112.700 664.816

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 1.50 mean?
Shoei (TSE:9385) has a Cyclically Adjusted PB Ratio of 1.50 as of Aug. 20, 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 Shoei and its competitors. This is near median its historical median of 1.57. Over the past decade, Shoei's Cyclically Adjusted PB Ratio has ranged from 1.12 to 4.25. According to the industry distribution chart, Shoei ranks #441 out of 683 companies in the Media - Diversified industry, placing it in the top 64.6%.
Is Shoei's Cyclically Adjusted PB Ratio too high?
Shoei's current Cyclically Adjusted PB Ratio of 1.50 is near median its 10-year median of 1.57. Over the past 10 years, this metric has ranged from a low of 1.12 to a high of 4.25. The Media - Diversified industry median Cyclically Adjusted PB Ratio is 1.00. Shoei's value of 1.50 is 50% above this industry median. Based on the distribution chart, Shoei ranks #441 out of 683 companies in the Media - Diversified industry, which is below the industry midpoint. Overall, Shoei has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Shoei's Cyclically Adjusted PB Ratio compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Shoei ranks #441 out of 683 companies for Cyclically Adjusted PB Ratio. This places Shoei in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.00. Shoei's value of 1.50 is 50% above this benchmark. Historically, Shoei's own Cyclically Adjusted PB Ratio has ranged from 1.12 to 4.25 over the past decade. While the company's 10-year median is 1.57 vs. the industry median of 1.00, Shoei 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 Media - Diversified company?
The median Cyclically Adjusted PB Ratio among Media - Diversified companies is 1.00, based on 683 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. Shoei's current Cyclically Adjusted PB Ratio of 1.50 is 50% 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 Shoei and its competitors. For the Media - Diversified industry, the median Cyclically Adjusted PB Ratio is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Shoei's current Cyclically Adjusted PB Ratio is 1.50, which is near median its own 10-year median of 1.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Shoei stock overvalued right now?
Based on GuruFocus' analysis, Shoei (TSE:9385) is currently considered Significantly Overvalued. The stock's GF Value™ is 円560.77, compared to a current price of 円756.00 — trading 34.8% above its estimated fair value. The current Cyclically Adjusted PB Ratio is 1.50, which is near median its 10-year median of 1.57 and 50% above the Media - Diversified industry median of 1.00. Shoei's overall GF Score™ is 66/100 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 Shoei (TSE:9385), the current Cyclically Adjusted PB Ratio is 1.50 as of Aug. 20, 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 Shoei (TSE:9385) Overvalued in 2026?

Based on GuruFocus' analysis, Shoei stock appears to be overvalued. The current stock price of 円756.00 is trading 34.8% above its estimated GF Value™ of 円560.77. GuruFocus considers Shoei to be Significantly Overvalued.

Key valuation signals for TSE:9385:

  • Cyclically Adjusted PB Ratio: 1.50 (near median its 10-year median of 1.57)
  • GF Value™: 円560.77 vs. price of 円756.00 (34.8% above fair value)
  • GF Score™: 66/100 with 1 warning sign
  • Industry Position: 50% above the Media - Diversified median (#441 of 683)

No single metric tells the full story. See the TSE:9385 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Shoei Business Description

Address 2-1-1 Bingocho, 7th Floor, 2nd Nomura Building, Chuo-ku, Osaka, JPN
Shoei Corp is engaged in Sales promotion support business and Product sales business. The sales promotion support business provides and supports products and services from planning to delivery in order to further promote the customer's own business.
66GF Score

Get the complete analysis for TSE:9385

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

円756.00
Price
円560.77
GF Value