Kozo Holdings Co (TSE:9973) Cyclically Adjusted PB Ratio: 3.95 (As of Aug. 18, 2026) — 303% Above Median

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TSE:9973 Kozo Holdings Co Ltd TSE:9973
63 GF Score
Price 円20.00
GF Value 円22.27
Valuation Modestly Undervalued
! 3 Warning Signs
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What is Kozo Holdings Co Cyclically Adjusted PB Ratio?

Kozo Holdings Co TSE:9973 63 Cyclically Adjusted PB Ratio is 3.95 as of Aug. 18, 2026, which is 303% above its 10-year median of 0.98. GuruFocus rates TSE:9973 with a GF Score™ of 63/100 and a GF Value™ of 円22.27 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 253 Restaurants companies, Kozo Holdings Co ranks worse than 77.08% on this metric.

As of today (2026-08-18), Kozo Holdings Co's current share price is 円20.00. Kozo Holdings Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 was 円5.06. Kozo Holdings Co's Cyclically Adjusted PB Ratio for today is 3.95.

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

TSE:9973' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.2   Med: 0.98   Max: 6.13
Current: 3.95

During the past years, Kozo Holdings Co's highest Cyclically Adjusted PB Ratio was 6.13. The lowest was 0.20. And the median was 0.98.

TSE:9973's Cyclically Adjusted PB Ratio is ranked worse than
77.08% of 253 companies
in the Restaurants industry
Industry Median: 1.85 vs TSE:9973: 3.95

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.

Kozo Holdings Co's adjusted book value per share data for the three months ended in Dec. 2025 was 円1.267. 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5.06 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Kozo Holdings Co  (TSE:9973) 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.


Kozo Holdings Co Cyclically Adjusted PB Ratio Related Terms


Kozo Holdings Co Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Kozo Holdings 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.

Kozo Holdings Co Cyclically Adjusted PB Ratio Chart

Kozo Holdings Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.88 0.82 1.51 2.31 5.73

Kozo Holdings Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 2.45 3.48 4.07 5.73 0.00

TSE:9973 vs MCD, SBUX, YUM: Cyclically Adjusted PB Ratio Comparison

For the Restaurants subindustry, Kozo Holdings 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.


Kozo Holdings Co Cyclically Adjusted PB Ratio vs Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Kozo Holdings Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


TSE:9973
63GF Score
Kozo Holdings Co Ltd TSE:9973
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Kozo Holdings 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=20.00/5.06
=3.95

* 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.

Kozo Holdings Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, Kozo Holdings Co's adjusted Book Value per Share data for the three months ended in Dec. 2025 was:

Adj_Book=Book Value per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=1.267/113.0000*113.0000
=1.267

Current CPI (Dec. 2025) = 113.0000.

Kozo Holdings Co Quarterly Data

Book Value per Share CPI Adj_Book
201512 30.183 98.100 34.767
201603 30.531 97.900 35.240
201606 30.924 98.100 35.621
201609 30.162 98.000 34.779
201612 25.063 98.400 28.782
201703 24.135 98.100 27.801
201706 20.862 98.500 23.933
201709 16.916 98.800 19.347
201712 8.888 99.400 10.104
201803 1.546 99.200 1.761
201806 6.290 99.200 7.165
201809 0.098 99.900 0.111
201812 -31.826 99.700 -36.072
201903 -31.790 99.700 -36.031
201906 -25.837 99.800 -29.254
201909 -11.847 100.100 -13.374
201912 0.100 100.500 0.112
202003 0.122 100.300 0.137
202006 2.513 99.900 2.843
202009 2.503 99.900 2.831
202012 2.607 99.300 2.967
202103 2.565 99.900 2.901
202106 2.440 99.500 2.771
202109 5.373 100.100 6.065
202112 4.209 100.100 4.751
202203 3.344 101.100 3.738
202206 2.066 101.800 2.293
202209 3.558 103.100 3.900
202212 2.184 104.100 2.371
202303 2.578 104.400 2.790
202306 2.818 105.200 3.027
202309 2.227 106.200 2.370
202312 1.302 106.800 1.378
202403 1.803 107.200 1.901
202406 2.333 108.200 2.436
202412 0.442 110.700 0.451
202503 0.101 111.100 0.103
202506 1.554 111.700 1.572
202509 2.722 112.000 2.746
202512 1.267 113.000 1.267

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 3.95 mean?
Kozo Holdings Co (TSE:9973) has a Cyclically Adjusted PB Ratio of 3.95 as of Aug. 18, 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 Kozo Holdings Co and its competitors. This is 303% above median its historical median of 0.98. Over the past decade, Kozo Holdings Co's Cyclically Adjusted PB Ratio has ranged from 0.20 to 6.13. According to the industry distribution chart, Kozo Holdings Co ranks #195 out of 253 companies in the Restaurants industry, placing it in the top 77.1%.
Is Kozo Holdings Co's Cyclically Adjusted PB Ratio too high?
Kozo Holdings Co's current Cyclically Adjusted PB Ratio of 3.95 is 303% above median its 10-year median of 0.98. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 6.13. The Restaurants industry median Cyclically Adjusted PB Ratio is 1.85. Kozo Holdings Co's value of 3.95 is 113.5% above this industry median. Based on the distribution chart, Kozo Holdings Co ranks #195 out of 253 companies in the Restaurants industry, which is in the bottom quartile relative to peers. Overall, Kozo Holdings Co has a GF Score™ of 63/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Kozo Holdings Co's Cyclically Adjusted PB Ratio compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Kozo Holdings Co ranks #195 out of 253 companies for Cyclically Adjusted PB Ratio. This places Kozo Holdings Co in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 1.85. Kozo Holdings Co's value of 3.95 is 113.5% above this benchmark. Historically, Kozo Holdings Co's own Cyclically Adjusted PB Ratio has ranged from 0.20 to 6.13 over the past decade. While the company's 10-year median is 0.98 vs. the industry median of 1.85, Kozo Holdings Co 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 Restaurants company?
The median Cyclically Adjusted PB Ratio among Restaurants companies is 1.85, based on 253 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. Kozo Holdings Co's current Cyclically Adjusted PB Ratio of 3.95 is 113.5% 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 Kozo Holdings Co and its competitors. For the Restaurants industry, the median Cyclically Adjusted PB Ratio is 1.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kozo Holdings Co's current Cyclically Adjusted PB Ratio is 3.95, which is 303% above median its own 10-year median of 0.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kozo Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, Kozo Holdings Co (TSE:9973) is currently considered Modestly Undervalued. The stock's GF Value™ is 円22.27, compared to a current price of 円20.00 — trading 10.2% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 3.95, which is 303% above median its 10-year median of 0.98 and 113.5% above the Restaurants industry median of 1.85. Kozo Holdings Co's overall GF Score™ is 63/100 with 3 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 Kozo Holdings Co (TSE:9973), the current Cyclically Adjusted PB Ratio is 3.95 as of Aug. 18, 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 Kozo Holdings Co (TSE:9973) Overvalued in 2026?

Based on GuruFocus' analysis, Kozo Holdings Co stock appears to be undervalued. The current stock price of 円20.00 is trading 10.2% below its estimated GF Value™ of 円22.27. GuruFocus considers Kozo Holdings Co to be Modestly Undervalued.

Key valuation signals for TSE:9973:

  • Cyclically Adjusted PB Ratio: 3.95 (303% above median its 10-year median of 0.98)
  • GF Value™: 円22.27 vs. price of 円20.00 (10.2% below fair value)
  • GF Score™: 63/100 with 3 warning signs
  • Industry Position: 113.5% above the Restaurants median (#195 of 253)

No single metric tells the full story. See the TSE:9973 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kozo Holdings Co Business Description

Address 1-5-6 Morita Building 6th Floor, Kakigaracho, Nihonbashi, Chuo-ku, Tokyo, JPN, 103-0014
Kozo Holdings Co Ltd is engaged in manufacture and sale of sushi and bento boxes, as well as supplying raw materials and providing guidance to franchisees as a franchisor of Kozo Sushi.
63GF Score

Get the complete analysis for TSE:9973

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

円20.00
Price
円22.27
GF Value