Ichigo (TSE:2337) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.
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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:2337 Ichigo Inc TSE:2337
69 GF Score
Price 円406.00
GF Value 円493.01
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Ichigo Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ichigo  (TSE:2337) 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.


Ichigo Cyclically Adjusted PS Ratio Related Terms


Ichigo Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Ichigo'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.

Ichigo Cyclically Adjusted PS Ratio Chart

Ichigo Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.13 2.07 2.54 2.12 2.43

Ichigo Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 2.22 2.42 2.25 2.42 2.55

TSE:2337 vs CBRE, BEKE, JLL: Cyclically Adjusted PS Ratio Comparison

For the Real Estate Services subindustry, Ichigo'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.


Ichigo Cyclically Adjusted PS Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Ichigo's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSE:2337
69GF Score
Ichigo Inc TSE:2337
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Ichigo 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.

Ichigo's Cyclically Adjusted Revenue per Share for the quarter that ended in May. 2026 is calculated as:

For example, Ichigo's adjusted Revenue per Share data for the three months ended in May. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=26.361/113.5000*113.5000
=26.361

Current CPI (May. 2026) = 113.5000.

Ichigo Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201608 78.527 97.900 91.040
201611 15.566 98.600 17.918
201702 30.629 98.100 35.437
201705 25.701 98.600 29.585
201708 40.971 98.500 47.210
201711 22.837 99.100 26.155
201802 26.412 99.500 30.128
201805 32.444 99.300 37.084
201808 20.086 99.800 22.843
201811 65.091 100.000 73.878
201902 51.704 99.700 58.861
201905 53.831 100.000 61.098
201908 40.794 100.000 46.301
201911 65.914 100.500 74.440
202002 19.117 100.300 21.633
202005 47.184 100.100 53.500
202008 19.297 100.100 21.880
202011 48.287 99.500 55.081
202102 13.057 99.800 14.849
202105 26.897 99.400 30.712
202108 22.716 99.700 25.860
202111 13.000 100.100 14.740
202202 58.906 100.700 66.394
202205 35.624 101.800 39.718
202208 19.071 102.700 21.077
202211 59.728 103.900 65.247
202302 33.737 104.000 36.819
202305 22.579 105.100 24.384
202308 36.057 105.900 38.645
202311 26.544 106.900 28.183
202402 99.817 106.900 105.980
202405 57.010 108.100 59.858
202408 25.592 109.100 26.624
202411 49.054 110.000 50.615
202502 60.890 110.800 62.374
202505 30.304 111.800 30.765
202508 91.897 112.100 93.045
202511 53.506 113.200 53.648
202602 49.971 112.200 50.550
202605 26.361 113.500 26.361

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 Ichigo (TSE:2337) Overvalued in 2026?

Based on GuruFocus' analysis, Ichigo stock appears to be undervalued. The current stock price of 円406.00 is trading 17.6% below its estimated GF Value™ of 円493.01. GuruFocus considers Ichigo to be Modestly Undervalued.

Key valuation signals for TSE:2337:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: 円493.01 vs. price of 円406.00 (17.6% below fair value)
  • GF Score™: 69/100 with 4 warning signs

No single metric tells the full story. See the TSE:2337 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ichigo Business Description

Other Exchanges ICHIF:USA
Address 2-6-1 Marunouchi, 17th Floor, The Imperial Hotel Tower, Chiyoda-ku, Tokyo, JPN, 100-0011
Ichigo Inc is a Japanese real estate owner and operator, and clean energy producer. It manages several real estate investment trusts and operates solar plants across Japan. REIT opportunities include midsize hotel and office properties. Revenue is generated through fees via the management of the Ichigo REIT and private funds, and other fee-generating real estate services related to sourcing, financing, operation, property management, facility management, and disposition of real estate assets. Additional income is generated through the sale of properties and rental income. Clean Energy services involve the production of mega solar power.
69GF Score

Get the complete analysis for TSE:2337

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

円406.00
Price
円493.01
GF Value