Ichikawa Co (TSE:3513) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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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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:3513 Ichikawa Co Ltd TSE:3513
49 GF Score
Price 円3,825.00
GF Value 円1,983.33
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Ichikawa Co Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Ichikawa Co  (TSE:3513) 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.


Ichikawa Co Cyclically Adjusted PS Ratio Related Terms


Ichikawa Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Ichikawa 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.

Ichikawa Co Cyclically Adjusted PS Ratio Chart

Ichikawa 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 0.54 0.49 0.68 0.64 1.17

Ichikawa 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 0.59 0.65 0.94 1.17 1.00

Ichikawa Co Cyclically Adjusted PS Ratio Competitor Comparison

For the Paper & Paper Products subindustry, Ichikawa 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.


Ichikawa Co Cyclically Adjusted PS Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Ichikawa Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSE:3513
49GF Score
Ichikawa Co Ltd TSE:3513
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Ichikawa 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.

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

For example, Ichikawa 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)
=922.185/113.6000*113.6000
=922.185

Current CPI (Jun. 2026) = 113.6000.

Ichikawa Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 667.897 98.000 774.215
201612 575.695 98.400 664.623
201703 691.927 98.100 801.253
201706 597.138 98.500 688.679
201709 726.679 98.800 835.534
201712 627.289 99.400 716.902
201803 660.870 99.200 756.803
201806 619.688 99.200 709.643
201809 696.632 99.900 792.166
201812 624.945 99.700 712.074
201903 658.460 99.700 750.261
201906 614.463 99.800 699.429
201909 660.075 100.100 749.096
201912 634.293 100.500 716.972
202003 680.987 100.300 771.287
202006 606.581 99.900 689.766
202009 669.342 99.900 761.134
202012 559.617 99.300 640.206
202103 700.103 99.900 796.113
202106 606.736 99.500 692.716
202109 673.744 100.100 764.609
202112 648.558 100.100 736.026
202203 770.187 101.100 865.413
202206 671.206 101.800 749.008
202209 751.911 103.100 828.488
202212 760.656 104.100 830.072
202303 731.005 104.400 795.423
202306 707.887 105.200 764.410
202309 799.106 106.200 854.788
202312 733.364 106.800 780.058
202403 799.531 107.200 847.264
202406 747.356 108.200 784.655
202409 833.747 108.900 869.731
202412 886.119 110.700 909.333
202503 776.037 111.100 793.500
202506 800.226 111.700 813.838
202509 882.877 112.000 895.490
202512 849.313 113.000 853.823
202603 941.902 112.700 949.424
202606 922.185 113.600 922.185

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 Ichikawa Co (TSE:3513) Overvalued in 2026?

Based on GuruFocus' analysis, Ichikawa Co stock appears to be overvalued. The current stock price of 円3,825.00 is trading 92.9% above its estimated GF Value™ of 円1,983.33. GuruFocus considers Ichikawa Co to be Significantly Overvalued.

Key valuation signals for TSE:3513:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: 円1,983.33 vs. price of 円3,825.00 (92.9% above fair value)
  • GF Score™: 49/100 with 1 warning sign

No single metric tells the full story. See the TSE:3513 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ichikawa Co Business Description

Address 2-14-15 Hongo, Bunkyo-ku, Hongo 2, Tokyo, JPN, 113-8442
Ichikawa Co Ltd is engaged in the manufacture and distribution of papermaking felts, papermaking belts, felts for slate and industrial felts in Japan. It offers papermaking press felts and belts, and shoe press and transfer belts; industrial products, such as heat-resistant conveyance equipment and cushioning material for use in the manufacture of car bodies, aluminum parts, and others.
49GF Score

Get the complete analysis for TSE:3513

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

円3,825.00
Price
円1,983.33
GF Value