Top High Image (ROCO:3284) Cyclically Adjusted PS Ratio: (As of Aug. 24, 2026)

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.

ROCO:3284 Top High Image Corp ROCO:3284
59 GF Score
Price NT$20.75
GF Value NT$19.24
Valuation Fairly Valued
! 8 Warning Signs
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What is Top High Image Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Top High Image  (ROCO:3284) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.


Top High Image Cyclically Adjusted PS Ratio Related Terms


Top High Image Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Top High Image's Cyclically Adjusted PS 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.

Top High Image Cyclically Adjusted PS Ratio Chart

Top High Image Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.66 0.79 1.01 2.06 1.68

Top High Image Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS 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 1.78 1.73 1.68 1.53 0.00

ROCO:3284 vs GEV, ETN, PH: Cyclically Adjusted PS Ratio Comparison

For the Specialty Industrial Machinery subindustry, Top High Image's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.


Top High Image Cyclically Adjusted PS Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Top High Image's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Top High Image's Cyclically Adjusted PS Ratio falls into.


ROCO:3284
59GF Score
Top High Image Corp ROCO:3284
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Top High Image Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS 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 PS Ratio.

Top High Image's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Top High Image's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.721/333.9520*333.9520
=1.721

Current CPI (Jun. 2026) = 333.9520.

Top High Image Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 3.358 241.428 4.645
201612 3.158 241.432 4.368
201703 2.852 243.801 3.907
201706 3.276 244.955 4.466
201709 3.206 246.819 4.338
201712 3.344 246.524 4.530
201803 3.055 249.554 4.088
201806 3.325 251.989 4.407
201809 3.398 252.439 4.495
201812 3.249 251.233 4.319
201903 3.243 254.202 4.260
201906 3.457 256.143 4.507
201909 2.954 256.759 3.842
201912 2.934 256.974 3.813
202003 3.142 258.115 4.065
202006 2.221 257.797 2.877
202009 2.477 260.280 3.178
202012 2.769 260.474 3.550
202103 2.062 264.877 2.600
202106 2.771 271.696 3.406
202109 1.808 274.310 2.201
202112 1.523 278.802 1.824
202203 1.688 287.504 1.961
202206 2.786 296.311 3.140
202209 2.656 296.808 2.988
202212 1.933 296.797 2.175
202303 1.468 301.836 1.624
202306 1.936 305.109 2.119
202309 1.902 307.789 2.064
202312 2.245 306.746 2.444
202403 2.130 312.332 2.277
202406 3.106 314.175 3.302
202409 3.594 315.301 3.807
202412 1.166 315.605 1.234
202503 2.281 319.799 2.382
202506 1.928 322.561 1.996
202509 1.813 324.800 1.864
202512 2.043 324.054 2.105
202603 1.962 330.213 1.984
202606 1.721 333.952 1.721

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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.

Is Top High Image (ROCO:3284) Overvalued in 2026?

Based on GuruFocus' analysis, Top High Image stock appears to be overvalued. The current stock price of NT$20.75 is trading 7.8% above its estimated GF Value™ of NT$19.24. GuruFocus considers Top High Image to be Fairly Valued.

Key valuation signals for ROCO:3284:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: NT$19.24 vs. price of NT$20.75 (7.8% above fair value)
  • GF Score™: 59/100 with 8 warning signs

No single metric tells the full story. See the ROCO:3284 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Top High Image Business Description

Address No. 20, Juguang 2nd Street, Dafa industrial park, Daliao District, Kaohsiung, TWN, 831
Top High Image Corp. is a company based in Kaohsiung, Taiwan, specializing in manufacturing and selling offset printing plates and printing consumables. It offers a wide range of printing plates, including process-free, thermal CTP, positive thermal CTP, and conventional plates used in various printing applications like brochures, newspapers, packaging, and labels. Besides printing plates, it also deals in trading and services, food manufacturing and wholesale, advertising, and real estate agency and leasing services. The main source of income for the company was through the sales of pre-sensitized plates and the land through a joint construction and sub-sales project as well as a real estate agency.
59GF Score

Get the complete analysis for ROCO:3284

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

NT$20.75
Price
NT$19.24
GF Value