I'll (TSE:3854) Cyclically Adjusted PS Ratio: 4.32 (As of Sep. 01, 2026) — Near Median

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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:3854 I'll Inc TSE:3854
94 GF Score
Price 円2,533.00
GF Value 円3,310.41
Valuation Modestly Undervalued
View Full Analysis

What is I'll Cyclically Adjusted PS Ratio?

I'll TSE:3854 +2.01% 94 Cyclically Adjusted PS Ratio is 4.32 as of Sep. 01, 2026, which is 5% below its 10-year median of 4.54. GuruFocus rates TSE:3854 with a GF Score™ of 94/100 and a GF Value™ of 円3,310.41 (Modestly Undervalued). Among 1,583 Software companies, I'll ranks worse than 73.66% on this metric.

As of today (2026-09-01), I'll's current share price is 円2533.00. I'll's Cyclically Adjusted Revenue per Share for the quarter that ended in Jan. 2026 was 円586.62. I'll's Cyclically Adjusted PS Ratio for today is 4.32.

The historical rank and industry rank for I'll's Cyclically Adjusted PS Ratio or its related term are showing as below:

TSE:3854' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.28   Med: 4.54   Max: 8.76
Current: 4.23

During the past years, I'll's highest Cyclically Adjusted PS Ratio was 8.76. The lowest was 0.28. And the median was 4.54.

TSE:3854's Cyclically Adjusted PS Ratio is ranked worse than
73.66% of 1583 companies
in the Software industry
Industry Median: 1.67 vs TSE:3854: 4.23

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

I'll's adjusted revenue per share data for the three months ended in Jan. 2026 was 円211.777. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is 円586.62 for the trailing ten years ended in Jan. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


I'll  (TSE:3854) 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.


I'll Cyclically Adjusted PS Ratio Related Terms


I'll Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for I'll'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.

I'll Cyclically Adjusted PS Ratio Chart

I'll Annual Data
Trend Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22 Jul23 Jul24 Jul25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.06 4.20 5.86 5.46 5.07

I'll Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 4.28 5.07 4.26 4.23 0.00

TSE:3854 vs IBM, ACN, CTSH: Cyclically Adjusted PS Ratio Comparison

For the Information Technology Services subindustry, I'll'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.


I'll Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, I'll's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSE:3854
94GF Score
I'll Inc TSE:3854
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

I'll 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.

I'll's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=2533.00/586.62
=4.32

* 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.

I'll's Cyclically Adjusted Revenue per Share for the quarter that ended in Jan. 2026 is calculated as:

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

Adj_RevenuePerShare=Revenue per Share/CPI of Jan. 2026 (Change)*Current CPI (Jan. 2026)
=211.777/112.9000*112.9000
=211.777

Current CPI (Jan. 2026) = 112.9000.

I'll Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201604 77.120 98.100 88.755
201607 93.500 97.900 107.826
201610 72.069 98.600 82.521
201701 86.889 98.200 99.896
201704 89.290 98.500 102.344
201707 96.013 98.300 110.273
201710 79.541 98.800 90.892
201801 93.683 99.500 106.300
201804 99.563 99.100 113.427
201807 103.054 99.200 117.286
201810 94.103 100.200 106.030
201901 94.874 99.700 107.435
201904 103.694 100.000 117.071
201907 127.508 99.800 144.245
201910 159.279 100.400 179.110
202001 118.750 100.500 133.402
202004 123.212 100.200 138.829
202007 105.501 100.000 119.111
202010 137.133 99.800 155.133
202101 126.343 99.800 142.927
202104 126.585 99.100 144.212
202107 137.322 99.700 155.503
202110 116.958 99.900 132.178
202201 124.526 100.300 140.169
202204 135.778 101.500 151.028
202207 139.733 102.300 154.212
202210 143.729 103.700 156.480
202301 159.508 104.700 172.001
202304 162.648 105.100 174.719
202307 170.240 105.700 181.836
202310 171.215 107.100 180.487
202401 171.212 106.900 180.822
202404 171.715 107.700 180.006
202407 185.320 108.600 192.658
202410 181.798 109.500 187.443
202501 189.956 111.200 192.860
202504 197.440 111.500 199.919
202507 210.531 111.900 212.412
202510 202.464 112.800 202.643
202601 211.777 112.900 211.777

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.

What does a Cyclically Adjusted PS Ratio of 4.32 mean?
I'll (TSE:3854) has a Cyclically Adjusted PS Ratio of 4.32 as of Sep. 01, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on I'll and its competitors. This is near median its historical median of 4.54. Over the past decade, I'll's Cyclically Adjusted PS Ratio has ranged from 0.28 to 8.76. According to the industry distribution chart, I'll ranks #1166 out of 1583 companies in the Software industry, placing it in the top 73.7%.
Is I'll's Cyclically Adjusted PS Ratio too high?
I'll's current Cyclically Adjusted PS Ratio of 4.32 is near median its 10-year median of 4.54. Over the past 10 years, this metric has ranged from a low of 0.28 to a high of 8.76. The Software industry median Cyclically Adjusted PS Ratio is 1.67. I'll's value of 4.32 is 158.7% above this industry median. Based on the distribution chart, I'll ranks #1166 out of 1583 companies in the Software industry, which is below the industry midpoint. Overall, I'll has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does I'll's Cyclically Adjusted PS Ratio compare to IBM and ACN?
According to the Software industry distribution chart, I'll ranks #1166 out of 1583 companies for Cyclically Adjusted PS Ratio. This places I'll in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.67. I'll's value of 4.32 is 158.7% above this benchmark. Historically, I'll's own Cyclically Adjusted PS Ratio has ranged from 0.28 to 8.76 over the past decade. While the company's 10-year median is 4.54 vs. the industry median of 1.67, I'll 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 PS Ratio for a Software company?
The median Cyclically Adjusted PS Ratio among Software companies is 1.67, based on 1,583 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. I'll's current Cyclically Adjusted PS Ratio of 4.32 is 158.7% 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 PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on I'll and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. I'll's current Cyclically Adjusted PS Ratio is 4.32, which is near median its own 10-year median of 4.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is I'll stock overvalued right now?
Based on GuruFocus' analysis, I'll (TSE:3854) is currently considered Modestly Undervalued. The stock's GF Value™ is 円3,310.41, compared to a current price of 円2,533.00 — trading 23.5% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 4.32, which is near median its 10-year median of 4.54 and 158.7% above the Software industry median of 1.67. I'll's overall GF Score™ is 94/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For I'll (TSE:3854), the current Cyclically Adjusted PS Ratio is 4.32 as of Sep. 01, 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 I'll (TSE:3854) Overvalued in 2026?

Based on GuruFocus' analysis, I'll stock appears to be undervalued. The current stock price of 円2,533.00 is trading 23.5% below its estimated GF Value™ of 円3,310.41. GuruFocus considers I'll to be Modestly Undervalued.

Key valuation signals for TSE:3854:

  • Cyclically Adjusted PS Ratio: 4.32 (near median its 10-year median of 4.54)
  • GF Value™: 円3,310.41 vs. price of 円2,533.00 (23.5% below fair value)
  • GF Score™: 94/100
  • Industry Position: 158.7% above the Software median (#1166 of 1583)

No single metric tells the full story. See the TSE:3854 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


I'll Business Description

Address 2-1-23, Kita-ku, Osaka, JPN
I'll Inc is engaged in the provision of system integration services for medium and small size companies. The company is engaged in two divisions namely System solution business, and Web solution business. The system solution provides customers with basic system construction, hardware maintenance, system operation support, network construction, and security management, and the Web solution offers website creation and operation, customer business analysis, and others. It is also develops unified management software, point unified management software and other operations.
94GF Score

Get the complete analysis for TSE:3854

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

円2,533.00
Price
円3,310.41
GF Value