Tokuden Co (TSE:3437) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

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Director of Data and Quant Analytics at GuruFocus
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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:3437 Tokuden Co Ltd TSE:3437
74 GF Score
Price 円2,655.00
GF Value 円2,789.10
Valuation Fairly Valued
! 4 Warning Signs
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What is Tokuden Co Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Tokuden Co  (TSE:3437) 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.


Tokuden Co Cyclically Adjusted PS Ratio Related Terms


Tokuden Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Tokuden Co'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.

Tokuden Co Cyclically Adjusted PS Ratio Chart

Tokuden Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.40 0.45 0.40 0.37 0.43

Tokuden Co 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 0.36 0.43 0.51 0.43 0.39

TSE:3437 vs GEV, ETN, PH: Cyclically Adjusted PS Ratio Comparison

For the Specialty Industrial Machinery subindustry, Tokuden Co'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.


Tokuden Co Cyclically Adjusted PS Ratio vs Industrial Products Industry

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

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


TSE:3437
74GF Score
Tokuden Co Ltd TSE:3437
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Tokuden Co 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.

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

For example, Tokuden Co'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)
=1673.75/113.6000*113.6000
=1,673.750

Current CPI (Jun. 2026) = 113.6000.

Tokuden Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1,366.948 98.000 1,584.544
201612 1,462.974 98.400 1,688.962
201703 1,454.911 98.100 1,684.790
201706 1,373.660 98.500 1,584.241
201709 1,456.765 98.800 1,674.985
201712 1,447.167 99.400 1,653.905
201803 1,549.414 99.200 1,774.329
201806 1,686.595 99.200 1,931.423
201809 1,683.325 99.900 1,914.171
201812 1,688.490 99.700 1,923.896
201903 1,667.424 99.700 1,899.893
201906 1,672.665 99.800 1,903.955
201909 1,725.895 100.100 1,958.658
201912 1,710.426 100.500 1,933.377
202003 1,622.802 100.300 1,837.989
202006 1,378.027 99.900 1,567.006
202009 1,351.675 99.900 1,537.040
202012 1,267.654 99.300 1,450.206
202103 1,261.372 99.900 1,434.353
202106 1,333.022 99.500 1,521.923
202109 1,303.072 100.100 1,478.811
202112 1,347.790 100.100 1,529.560
202203 1,466.438 101.100 1,647.748
202206 1,438.544 101.800 1,605.291
202209 1,755.860 103.100 1,934.682
202212 1,457.424 104.100 1,590.426
202303 1,482.917 104.400 1,613.596
202306 1,491.389 105.200 1,610.473
202309 1,563.264 106.200 1,672.192
202312 1,512.682 106.800 1,608.995
202403 1,497.010 107.200 1,586.384
202406 1,508.065 108.200 1,583.329
202409 1,635.959 108.900 1,706.565
202412 1,753.362 110.700 1,799.295
202503 1,769.365 111.100 1,809.180
202506 1,720.872 111.700 1,750.144
202509 1,636.184 112.000 1,659.558
202512 1,701.135 113.000 1,710.168
202603 1,842.800 112.700 1,857.516
202606 1,673.750 113.600 1,673.750

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 Tokuden Co (TSE:3437) Overvalued in 2026?

Based on GuruFocus' analysis, Tokuden Co stock appears to be undervalued. The current stock price of 円2,655.00 is trading 4.8% below its estimated GF Value™ of 円2,789.10. GuruFocus considers Tokuden Co to be Fairly Valued.

Key valuation signals for TSE:3437:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: 円2,789.10 vs. price of 円2,655.00 (4.8% below fair value)
  • GF Score™: 74/100 with 4 warning signs

No single metric tells the full story. See the TSE:3437 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tokuden Co Business Description

Address 899-5 Tsuchiyama, Hiraoka-cho, Hyogo Prefecture, Kakogawa, JPN, 660-0881
Tokuden Co Ltd is engaged in the manufacturing of industrial products like submerged arc welding, wire for TIG welding, wire for MIG welding, fusion type flux, and PTA welding powder material.
74GF Score

Get the complete analysis for TSE:3437

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

円2,655.00
Price
円2,789.10
GF Value