Subaru Co (TSE:9778) Cyclically Adjusted PB Ratio: 0.91 (As of Aug. 21, 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:9778 Subaru Co Ltd TSE:9778
56 GF Score
Price 円5,770.00
GF Value 円6,712.30
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Subaru Co Cyclically Adjusted PB Ratio?

Subaru Co TSE:9778 56 Cyclically Adjusted PB Ratio is 0.91 as of Aug. 21, 2026, which is 5% above its 10-year median of 0.87. GuruFocus rates TSE:9778 with a GF Score™ of 56/100 and a GF Value™ of 円6,712.30 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 154 Education companies, Subaru Co ranks better than 57.14% on this metric.

As of today (2026-08-21), Subaru Co's current share price is 円5770.00. Subaru Co's Cyclically Adjusted Book per Share for the quarter that ended in Feb. 2026 was 円6,316.91. Subaru Co's Cyclically Adjusted PB Ratio for today is 0.91.

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

TSE:9778' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.61   Med: 0.87   Max: 1.34
Current: 0.9

During the past years, Subaru Co's highest Cyclically Adjusted PB Ratio was 1.34. The lowest was 0.61. And the median was 0.87.

TSE:9778's Cyclically Adjusted PB Ratio is ranked better than
57.14% of 154 companies
in the Education industry
Industry Median: 1.135 vs TSE:9778: 0.90

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.

Subaru Co's adjusted book value per share data for the three months ended in Feb. 2026 was 円6,117.061. 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6,316.91 for the trailing ten years ended in Feb. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Subaru Co  (TSE:9778) 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.


Subaru Co Cyclically Adjusted PB Ratio Related Terms


Subaru Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Subaru 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.

Subaru Co Cyclically Adjusted PB Ratio Chart

Subaru Co Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.80 0.88 1.09 1.14 0.91

Subaru 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 1.16 1.06 1.02 0.91 0.00

TSE:9778 vs EDU, TAL, LAUR: Cyclically Adjusted PB Ratio Comparison

For the Education & Training Services subindustry, Subaru 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.


Subaru Co Cyclically Adjusted PB Ratio vs Education Industry

For the Education industry and Consumer Defensive sector, Subaru Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:9778
56GF Score
Subaru Co Ltd TSE:9778
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Subaru 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=5770.00/6316.91
=0.91

* 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.

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

For example, Subaru 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)
=6117.061/112.2000*112.2000
=6,117.061

Current CPI (Feb. 2026) = 112.2000.

Subaru Co Quarterly Data

Book Value per Share CPI Adj_Book
201602 5,680.970 97.800 6,517.432
201605 5,354.120 98.200 6,117.436
201608 5,423.478 97.900 6,215.671
201611 5,450.693 98.600 6,202.513
201702 5,614.387 98.100 6,421.348
201705 5,394.283 98.600 6,138.322
201708 5,513.920 98.500 6,280.831
201711 5,485.352 99.100 6,210.459
201802 5,734.311 99.500 6,466.228
201805 5,553.976 99.300 6,275.489
201808 5,684.254 99.800 6,390.514
201811 5,678.782 100.000 6,371.593
201902 5,969.069 99.700 6,717.448
201905 5,818.134 100.000 6,527.946
201908 5,917.839 100.000 6,639.815
201911 5,969.230 100.500 6,664.155
202002 5,965.071 100.300 6,672.791
202005 5,690.279 100.100 6,378.115
202008 5,770.919 100.100 6,468.503
202011 5,763.778 99.500 6,499.456
202102 5,714.357 99.800 6,424.357
202105 5,528.289 99.400 6,240.181
202108 5,667.323 99.700 6,377.870
202111 5,675.770 100.100 6,361.852
202202 5,841.948 100.700 6,509.102
202205 5,662.168 101.800 6,240.621
202208 5,777.553 102.700 6,311.991
202211 5,814.680 103.900 6,279.183
202302 6,097.618 104.000 6,578.392
202305 5,841.384 105.100 6,235.997
202308 5,947.802 105.900 6,301.637
202311 5,924.724 106.900 6,218.466
202402 6,157.621 106.900 6,462.910
202405 5,902.668 108.100 6,126.543
202408 5,893.401 109.100 6,060.858
202502 6,041.591 110.800 6,117.929
202505 5,807.531 111.800 5,828.309
202508 5,890.638 112.100 5,895.893
202511 5,863.008 113.200 5,811.215
202602 6,117.061 112.200 6,117.061

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 0.91 mean?
Subaru Co (TSE:9778) has a Cyclically Adjusted PB Ratio of 0.91 as of Aug. 21, 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 Subaru Co and its competitors. This is near median its historical median of 0.87. Over the past decade, Subaru Co's Cyclically Adjusted PB Ratio has ranged from 0.61 to 1.34. According to the industry distribution chart, Subaru Co ranks #66 out of 154 companies in the Education industry, placing it in the top 42.9%.
Is Subaru Co's Cyclically Adjusted PB Ratio too high?
Subaru Co's current Cyclically Adjusted PB Ratio of 0.91 is near median its 10-year median of 0.87. Over the past 10 years, this metric has ranged from a low of 0.61 to a high of 1.34. The Education industry median Cyclically Adjusted PB Ratio is 1.14. Subaru Co's value of 0.91 is 19.8% below this industry median. Based on the distribution chart, Subaru Co ranks #66 out of 154 companies in the Education industry, which is above the industry midpoint. Overall, Subaru Co has a GF Score™ of 56/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Subaru Co's Cyclically Adjusted PB Ratio compare to EDU and TAL?
According to the Education industry distribution chart, Subaru Co ranks #66 out of 154 companies for Cyclically Adjusted PB Ratio. This puts Subaru Co in the upper half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.14. Subaru Co's value of 0.91 is 19.8% below this benchmark. Historically, Subaru Co's own Cyclically Adjusted PB Ratio has ranged from 0.61 to 1.34 over the past decade. While the company's 10-year median is 0.87 vs. the industry median of 1.14, Subaru 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 Education company?
The median Cyclically Adjusted PB Ratio among Education companies is 1.14, based on 154 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. Subaru Co's current Cyclically Adjusted PB Ratio of 0.91 is 19.8% 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 Subaru Co and its competitors. For the Education industry, the median Cyclically Adjusted PB Ratio is 1.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Subaru Co's current Cyclically Adjusted PB Ratio is 0.91, which is near median its own 10-year median of 0.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Subaru Co stock overvalued right now?
Based on GuruFocus' analysis, Subaru Co (TSE:9778) is currently considered Modestly Undervalued. The stock's GF Value™ is 円6,712.30, compared to a current price of 円5,770.00 — trading 14% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 0.91, which is near median its 10-year median of 0.87 and 19.8% below the Education industry median of 1.14. Subaru Co's overall GF Score™ is 56/100 with 6 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 Subaru Co (TSE:9778), the current Cyclically Adjusted PB Ratio is 0.91 as of Aug. 21, 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 Subaru Co (TSE:9778) Overvalued in 2026?

Based on GuruFocus' analysis, Subaru Co stock appears to be undervalued. The current stock price of 円5,770.00 is trading 14% below its estimated GF Value™ of 円6,712.30. GuruFocus considers Subaru Co to be Modestly Undervalued.

Key valuation signals for TSE:9778:

  • Cyclically Adjusted PB Ratio: 0.91 (near median its 10-year median of 0.87)
  • GF Value™: 円6,712.30 vs. price of 円5,770.00 (14% below fair value)
  • GF Score™: 56/100 with 6 warning signs
  • Industry Position: 19.8% below the Education median (#66 of 154)

No single metric tells the full story. See the TSE:9778 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Subaru Co Business Description

Address No. 9, No. 1, Kajiya-cho, Kagoshima, JPN, 892-0846
Subaru Co Ltd operates cram schools and provides academic tutoring and exam preparation services for kindergarten, elementary, and junior high school students. It also evaluates the academic achievement of the students using computer programs. It also conducts various mimetic tests such as All Kyushu mimetic tests, all Kyushu scholastic tests, trial undertaking, and other.
56GF Score

Get the complete analysis for TSE:9778

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

円5,770.00
Price
円6,712.30
GF Value