Showcase (TSE:3909) Cyclically Adjusted PS Ratio: 0.47 (As of Jul. 30, 2026) — 43% Below Median

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.

TSE:3909 Showcase Inc TSE:3909
52 GF Score
Price 円203.00
GF Value 円141.52
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Showcase Cyclically Adjusted PS Ratio?

Showcase TSE:3909 -0.49% 52 Cyclically Adjusted PS Ratio is 0.47 as of Jul. 30, 2026, which is 43% below its 10-year median of 0.82. GuruFocus rates TSE:3909 with a GF Score™ of 52/100 and a GF Value™ of 円141.52 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,590 Software companies, Showcase ranks better than 80.88% on this metric.

As of today (2026-07-30), Showcase's current share price is 円203.00. Showcase's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was 円433.81. Showcase's Cyclically Adjusted PS Ratio for today is 0.47.

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

TSE:3909' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.44   Med: 0.82   Max: 1.1
Current: 0.47

During the past years, Showcase's highest Cyclically Adjusted PS Ratio was 1.10. The lowest was 0.44. And the median was 0.82.

TSE:3909's Cyclically Adjusted PS Ratio is ranked better than
80.88% of 1590 companies
in the Software industry
Industry Median: 1.63 vs TSE:3909: 0.47

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.

Showcase's adjusted revenue per share data for the three months ended in Mar. 2026 was 円380.420. 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433.81 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Showcase  (TSE:3909) 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.


Showcase Cyclically Adjusted PS Ratio Related Terms


Showcase Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Showcase'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.

Showcase Cyclically Adjusted PS Ratio Chart

Showcase Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Showcase Quarterly Data
Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Mar26
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 0.00 0.95 0.82 0.00 0.54

TSE:3909 vs QH, SHOP, UBER: Cyclically Adjusted PS Ratio Comparison

For the Software - Application subindustry, Showcase'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.


Showcase Cyclically Adjusted PS Ratio vs Software Industry

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

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


TSE:3909
52GF Score
Showcase Inc TSE:3909
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Showcase 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.

Showcase's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=203.00/433.81
=0.47

* 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.

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

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

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=380.42/112.7000*112.7000
=380.420

Current CPI (Mar. 2026) = 112.7000.

Showcase Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201512 52.497 98.100 60.310
201603 45.233 97.900 52.071
201606 50.184 98.100 57.653
201609 49.872 98.000 57.353
201612 54.986 98.400 62.977
201703 49.984 98.100 57.423
201706 65.731 98.500 75.207
201709 77.642 98.800 88.565
201712 73.207 99.400 83.002
201803 72.269 99.200 82.104
201806 70.395 99.200 79.975
201809 73.646 99.900 83.082
201812 78.268 99.700 88.473
201903 60.578 99.700 68.477
201906 54.758 99.800 61.836
201909 51.230 100.100 57.679
201912 56.000 100.500 62.798
202003 51.145 100.300 57.468
202006 47.880 99.900 54.015
202009 52.950 99.900 59.734
202012 58.175 99.300 66.025
202103 45.056 99.900 50.829
202106 40.256 99.500 45.596
202109 44.829 100.100 50.472
202112 56.052 100.100 63.107
202203 49.045 101.100 54.672
202206 205.173 101.800 227.141
202209 123.194 103.100 134.665
202212 163.110 104.100 176.585
202303 177.779 104.400 191.913
202306 218.242 105.200 233.801
202309 131.701 106.200 139.762
202312 173.219 106.800 182.788
202403 231.127 107.200 242.985
202406 248.616 108.200 258.956
202412 0.000 110.700 0.000
202503 229.994 111.100 233.306
202506 37.628 111.700 37.965
202509 0.000 112.000 0.000
202603 380.420 112.700 380.420

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 0.47 mean?
Showcase (TSE:3909) has a Cyclically Adjusted PS Ratio of 0.47 as of Jul. 30, 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 Showcase and its competitors. This is 43% below median its historical median of 0.82. Over the past decade, Showcase's Cyclically Adjusted PS Ratio has ranged from 0.44 to 1.10. According to the industry distribution chart, Showcase ranks #304 out of 1590 companies in the Software industry, placing it in the top 19.1%.
Is Showcase's Cyclically Adjusted PS Ratio too high?
Showcase's current Cyclically Adjusted PS Ratio of 0.47 is 43% below median its 10-year median of 0.82. Over the past 10 years, this metric has ranged from a low of 0.44 to a high of 1.10. The Software industry median Cyclically Adjusted PS Ratio is 1.63. Showcase's value of 0.47 is 71.2% below this industry median. Based on the distribution chart, Showcase ranks #304 out of 1590 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Showcase has a GF Score™ of 52/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Showcase's Cyclically Adjusted PS Ratio compare to QH and SHOP?
According to the Software industry distribution chart, Showcase ranks #304 out of 1590 companies for Cyclically Adjusted PS Ratio. This places Showcase in the top 19% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 1.63. Showcase's value of 0.47 is 71.2% below this benchmark. Historically, Showcase's own Cyclically Adjusted PS Ratio has ranged from 0.44 to 1.10 over the past decade. While the company's 10-year median is 0.82 vs. the industry median of 1.63, Showcase has consistently been below 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 1.63, based on 1,590 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. Showcase's current Cyclically Adjusted PS Ratio of 0.47 is 71.2% below 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 Showcase and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Showcase's current Cyclically Adjusted PS Ratio is 0.47, which is 43% below median its own 10-year median of 0.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Showcase stock overvalued right now?
Based on GuruFocus' analysis, Showcase (TSE:3909) is currently considered Significantly Overvalued. The stock's GF Value™ is 円141.52, compared to a current price of 円203.00 — trading 43.4% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.47, which is 43% below median its 10-year median of 0.82 and 71.2% below the Software industry median of 1.63. Showcase's overall GF Score™ is 52/100 with 3 warning signs to review. 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 Showcase (TSE:3909), the current Cyclically Adjusted PS Ratio is 0.47 as of Jul. 30, 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 Showcase (TSE:3909) Overvalued in 2026?

Based on GuruFocus' analysis, Showcase stock appears to be overvalued. The current stock price of 円203.00 is trading 43.4% above its estimated GF Value™ of 円141.52. GuruFocus considers Showcase to be Significantly Overvalued.

Key valuation signals for TSE:3909:

  • Cyclically Adjusted PS Ratio: 0.47 (43% below median its 10-year median of 0.82)
  • GF Value™: 円141.52 vs. price of 円203.00 (43.4% above fair value)
  • GF Score™: 52/100 with 3 warning signs
  • Industry Position: 71.2% below the Software median (#304 of 1590)

No single metric tells the full story. See the TSE:3909 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Showcase Business Description

Address 1-9-9, Roppongi, 14th Floor, Roppongi First Building, Minato-ku, Tokyo, JPN, 106-0032
Showcase Inc is engaged in web marketing services. Its operations are carried out through the following business segments: DX Cloud Business, Advertising and Media Business, Investment-related Business, and Information and Communications-related Business. The DX Cloud Business is engaged in the SaaS business. The Advertising and Media Business operates owned media and affiliate advertising. The Investment-related business provides SmartPitch, an online matching platform by Showcase Capital Inc., connecting startups with operating companies, VCs, and CVCs, while also supporting startup growth and fundraising for listed companies. The Information and Communications Related Business is engaged in the sale of used smartphones.
52GF Score

Get the complete analysis for TSE:3909

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

円203.00
Price
円141.52
GF Value