TV Tokyo Holdings (TSE:9413) Cyclically Adjusted PB Ratio: 0.99 (As of Sep. 05, 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:9413 TV Tokyo Holdings Corp TSE:9413
75 GF Score
Price 円3,435.00
GF Value 円3,850.78
Valuation Modestly Undervalued
View Full Analysis

What is TV Tokyo Holdings Cyclically Adjusted PB Ratio?

TV Tokyo Holdings TSE:9413 -0.29% 75 Cyclically Adjusted PB Ratio is 0.99 as of Sep. 05, 2026, which is 3% above its 10-year median of 0.96. GuruFocus rates TSE:9413 with a GF Score™ of 75/100 and a GF Value™ of 円3,850.78 (Modestly Undervalued). Among 656 Media - Diversified companies, TV Tokyo Holdings ranks better than 51.37% on this metric.

As of today (2026-09-05), TV Tokyo Holdings's current share price is 円3435.00. TV Tokyo Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was 円3,467.35. TV Tokyo Holdings's Cyclically Adjusted PB Ratio for today is 0.99.

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

TSE:9413' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.63   Med: 0.96   Max: 1.49
Current: 0.99

During the past years, TV Tokyo Holdings's highest Cyclically Adjusted PB Ratio was 1.49. The lowest was 0.63. And the median was 0.96.

TSE:9413's Cyclically Adjusted PB Ratio is ranked better than
51.37% of 656 companies
in the Media - Diversified industry
Industry Median: 1.025 vs TSE:9413: 0.99

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.

TV Tokyo Holdings's adjusted book value per share data for the three months ended in Mar. 2026 was 円4,034.102. 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3,467.35 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


TV Tokyo Holdings  (TSE:9413) 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.


TV Tokyo Holdings Cyclically Adjusted PB Ratio Related Terms


TV Tokyo Holdings Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for TV Tokyo Holdings'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.

TV Tokyo Holdings Cyclically Adjusted PB Ratio Chart

TV Tokyo Holdings 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 0.72 0.84 0.96 1.08 1.18

TV Tokyo Holdings 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 1.03 1.46 1.33 1.18 0.00

TSE:9413 vs NXST: Cyclically Adjusted PB Ratio Comparison

For the Broadcasting subindustry, TV Tokyo Holdings'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.


TV Tokyo Holdings Cyclically Adjusted PB Ratio vs Media - Diversified Industry

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

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


TSE:9413
75GF Score
TV Tokyo Holdings Corp TSE:9413
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

TV Tokyo Holdings 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.

TV Tokyo Holdings's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=3435.00/3467.35
=0.99

* 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.

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

For example, TV Tokyo Holdings'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)
=4034.102/112.7000*112.7000
=4,034.102

Current CPI (Mar. 2026) = 112.7000.

TV Tokyo Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201603 2,555.925 97.900 2,942.316
201606 2,586.973 98.100 2,971.986
201609 2,592.701 98.000 2,981.606
201612 2,664.875 98.400 3,052.149
201703 2,689.759 98.100 3,090.070
201706 2,715.821 98.500 3,107.340
201709 2,761.122 98.800 3,149.579
201712 2,813.035 99.400 3,189.427
201803 2,878.138 99.200 3,269.820
201806 2,892.142 99.200 3,285.730
201809 2,911.415 99.900 3,284.449
201812 2,910.673 99.700 3,290.199
201903 2,936.771 99.700 3,319.700
201906 2,899.851 99.800 3,274.681
201909 2,903.777 100.100 3,269.287
201912 2,974.680 100.500 3,335.785
202003 2,911.451 100.300 3,271.391
202006 2,928.955 99.900 3,304.237
202009 2,969.411 99.900 3,349.876
202012 3,015.949 99.300 3,422.935
202103 3,065.781 99.900 3,458.594
202106 3,095.983 99.500 3,506.706
202109 3,160.838 100.100 3,558.706
202112 3,197.770 100.100 3,600.287
202203 3,229.486 101.100 3,600.030
202206 3,248.412 101.800 3,596.228
202209 3,281.944 103.100 3,587.537
202212 3,365.660 104.100 3,643.707
202303 3,414.080 104.400 3,685.506
202306 3,421.103 105.200 3,665.003
202309 3,461.868 106.200 3,673.753
202312 3,548.875 106.800 3,744.927
202403 3,661.407 107.200 3,849.259
202406 3,604.555 108.200 3,754.467
202409 3,658.132 108.900 3,785.780
202503 3,811.490 111.100 3,866.381
202506 3,857.649 111.700 3,892.185
202509 3,955.307 112.000 3,980.028
202512 4,059.002 113.000 4,048.226
202603 4,034.102 112.700 4,034.102

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 0.99 mean?
TV Tokyo Holdings (TSE:9413) has a Cyclically Adjusted PB Ratio of 0.99 as of Sep. 05, 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 TV Tokyo Holdings and its competitors. This is near median its historical median of 0.96. Over the past decade, TV Tokyo Holdings' Cyclically Adjusted PB Ratio has ranged from 0.63 to 1.49. According to the industry distribution chart, TV Tokyo Holdings ranks #319 out of 656 companies in the Media - Diversified industry, placing it in the top 48.6%.
Is TV Tokyo Holdings' Cyclically Adjusted PB Ratio too high?
TV Tokyo Holdings' current Cyclically Adjusted PB Ratio of 0.99 is near median its 10-year median of 0.96. Over the past 10 years, this metric has ranged from a low of 0.63 to a high of 1.49. The Media - Diversified industry median Cyclically Adjusted PB Ratio is 1.03. TV Tokyo Holdings' value of 0.99 is 3.4% below this industry median. Based on the distribution chart, TV Tokyo Holdings ranks #319 out of 656 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, TV Tokyo Holdings has a GF Score™ of 75/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TV Tokyo Holdings' Cyclically Adjusted PB Ratio compare to NXST?
According to the Media - Diversified industry distribution chart, TV Tokyo Holdings ranks #319 out of 656 companies for Cyclically Adjusted PB Ratio. This puts TV Tokyo Holdings in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.03. TV Tokyo Holdings' value of 0.99 is 3.4% below this benchmark. Historically, TV Tokyo Holdings' own Cyclically Adjusted PB Ratio has ranged from 0.63 to 1.49 over the past decade. While the company's 10-year median is 0.96 vs. the industry median of 1.03, TV Tokyo Holdings 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 Media - Diversified company?
The median Cyclically Adjusted PB Ratio among Media - Diversified companies is 1.03, based on 656 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. TV Tokyo Holdings's current Cyclically Adjusted PB Ratio of 0.99 is 3.4% 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 TV Tokyo Holdings and its competitors. For the Media - Diversified industry, the median Cyclically Adjusted PB Ratio is 1.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TV Tokyo Holdings's current Cyclically Adjusted PB Ratio is 0.99, which is near 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 TV Tokyo Holdings stock overvalued right now?
Based on GuruFocus' analysis, TV Tokyo Holdings (TSE:9413) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,850.78, compared to a current price of 円3,435.00 — trading 10.8% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.99, which is near median its 10-year median of 0.96 and 3.4% below the Media - Diversified industry median of 1.03. TV Tokyo Holdings' overall GF Score™ is 75/100. 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 TV Tokyo Holdings (TSE:9413), the current Cyclically Adjusted PB Ratio is 0.99 as of Sep. 05, 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 TV Tokyo Holdings (TSE:9413) Overvalued in 2026?

Based on GuruFocus' analysis, TV Tokyo Holdings stock appears to be undervalued. The current stock price of 円3,435.00 is trading 10.8% below its estimated GF Value™ of 円3,850.78. GuruFocus considers TV Tokyo Holdings to be Modestly Undervalued.

Key valuation signals for TSE:9413:

  • Cyclically Adjusted PB Ratio: 0.99 (near median its 10-year median of 0.96)
  • GF Value™: 円3,850.78 vs. price of 円3,435.00 (10.8% below fair value)
  • GF Score™: 75/100
  • Industry Position: 3.4% below the Media - Diversified median (#319 of 656)

No single metric tells the full story. See the TSE:9413 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


TV Tokyo Holdings Business Description

Address Roppongi Grand Tower 3-2-1, Roppongi, Minato-ku, Tokyo, JPN, 106-8007
TV Tokyo Holdings Corporation operates in the broadcasting space in Japan. It is primarily involved in the terrestrial broadcasting business apart from its operation through other segments such as Broadcasting - Peripheral and Satellite Broadcasting. The Terrestrial Broadcasting segment is engaged in the sale of programs to other broadcasters, the provision of broadcast program and film rights, as well as the organization of events. The Broadcasting- peripheral segment is involved in the planning and production of programs, the mail-order business and the Broadcasting Satellite (BS) segment provides TV programs by BS digital broadcasting.
75GF Score

Get the complete analysis for TSE:9413

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

円3,435.00
Price
円3,850.78
GF Value