Tsumura (TSE:4540) Cyclically Adjusted PS Ratio: 1.88 (As of Aug. 04, 2026) — Near 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:4540 Tsumura & Co TSE:4540
79 GF Score
Price 円3,767.00
GF Value 円4,229.66
Valuation Modestly Undervalued
! 4 Warning Signs
View Full Analysis

What is Tsumura Cyclically Adjusted PS Ratio?

Tsumura TSE:4540 -0.61% 79 Cyclically Adjusted PS Ratio is 1.88 as of Aug. 04, 2026, which is 7% below its 10-year median of 2.03. GuruFocus rates TSE:4540 with a GF Score™ of 79/100 and a GF Value™ of 円4,229.66 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 749 Drug Manufacturers companies, Tsumura ranks better than 51.4% on this metric.

As of today (2026-08-04), Tsumura's current share price is 円3767.00. Tsumura's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was 円2,007.56. Tsumura's Cyclically Adjusted PS Ratio for today is 1.88.

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

TSE:4540' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.49   Med: 2.03   Max: 3.04
Current: 1.89

During the past years, Tsumura's highest Cyclically Adjusted PS Ratio was 3.04. The lowest was 1.49. And the median was 2.03.

TSE:4540's Cyclically Adjusted PS Ratio is ranked better than
51.4% of 749 companies
in the Drug Manufacturers industry
Industry Median: 1.98 vs TSE:4540: 1.89

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.

Tsumura's adjusted revenue per share data for the three months ended in Mar. 2026 was 円634.865. 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2,007.56 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Tsumura  (TSE:4540) 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.


Tsumura Cyclically Adjusted PS Ratio Related Terms


Tsumura Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Tsumura'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.

Tsumura Cyclically Adjusted PS Ratio Chart

Tsumura 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 1.96 1.54 2.14 2.26 1.87

Tsumura Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 2.26 1.80 1.85 2.05 1.87

TSE:4540 vs ZTS: Cyclically Adjusted PS Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Tsumura'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.


Tsumura Cyclically Adjusted PS Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Tsumura's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSE:4540
79GF Score
Tsumura & Co TSE:4540
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tsumura 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.

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

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=3767.00/2007.56
=1.88

* 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.

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

For example, Tsumura'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)
=634.865/112.7000*112.7000
=634.865

Current CPI (Mar. 2026) = 112.7000.

Tsumura Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 406.840 98.100 467.389
201609 392.301 98.000 451.146
201612 448.068 98.400 513.184
201703 392.054 98.100 450.403
201706 422.611 98.500 483.536
201709 424.727 98.800 484.481
201712 431.082 99.400 488.762
201803 352.756 99.200 400.762
201806 389.448 99.200 442.447
201809 372.649 99.900 420.396
201812 441.314 99.700 498.857
201903 377.933 99.700 427.212
201906 401.520 99.800 453.420
201909 393.457 100.100 442.983
201912 434.562 100.500 487.315
202003 366.798 100.300 412.145
202006 371.151 99.900 418.706
202009 373.242 99.900 421.065
202012 411.617 99.300 467.162
202103 365.570 99.900 412.410
202106 415.269 99.500 470.360
202109 413.617 100.100 465.681
202112 457.024 100.100 514.551
202203 407.335 101.100 454.072
202206 449.854 101.800 498.021
202209 466.493 103.100 509.930
202212 483.211 104.100 523.130
202303 431.522 104.400 465.829
202306 486.222 105.200 520.886
202309 500.923 106.200 531.582
202312 533.639 106.800 563.119
202403 461.165 107.200 484.826
202406 575.436 108.200 599.368
202409 597.677 108.900 618.533
202412 628.220 110.700 639.570
202503 583.788 111.100 592.195
202506 573.929 111.700 579.067
202509 625.065 112.000 628.972
202512 739.251 113.000 737.288
202603 634.865 112.700 634.865

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 1.88 mean?
Tsumura (TSE:4540) has a Cyclically Adjusted PS Ratio of 1.88 as of Aug. 04, 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 Tsumura and its competitors. This is near median its historical median of 2.03. Over the past decade, Tsumura's Cyclically Adjusted PS Ratio has ranged from 1.49 to 3.04. According to the industry distribution chart, Tsumura ranks #364 out of 749 companies in the Drug Manufacturers industry, placing it in the top 48.6%.
Is Tsumura's Cyclically Adjusted PS Ratio too high?
Tsumura's current Cyclically Adjusted PS Ratio of 1.88 is near median its 10-year median of 2.03. Over the past 10 years, this metric has ranged from a low of 1.49 to a high of 3.04. The Drug Manufacturers industry median Cyclically Adjusted PS Ratio is 1.98. Tsumura's value of 1.88 is 5.1% below this industry median. Based on the distribution chart, Tsumura ranks #364 out of 749 companies in the Drug Manufacturers industry, which is above the industry midpoint. Overall, Tsumura has a GF Score™ of 79/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tsumura's Cyclically Adjusted PS Ratio compare to ZTS?
According to the Drug Manufacturers industry distribution chart, Tsumura ranks #364 out of 749 companies for Cyclically Adjusted PS Ratio. This puts Tsumura in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.98. Tsumura's value of 1.88 is 5.1% below this benchmark. Historically, Tsumura's own Cyclically Adjusted PS Ratio has ranged from 1.49 to 3.04 over the past decade. While the company's 10-year median is 2.03 vs. the industry median of 1.98, Tsumura 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 Drug Manufacturers company?
The median Cyclically Adjusted PS Ratio among Drug Manufacturers companies is 1.98, based on 749 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. Tsumura's current Cyclically Adjusted PS Ratio of 1.88 is 5.1% 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 Tsumura and its competitors. For the Drug Manufacturers industry, the median Cyclically Adjusted PS Ratio is 1.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tsumura's current Cyclically Adjusted PS Ratio is 1.88, which is near median its own 10-year median of 2.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tsumura stock overvalued right now?
Based on GuruFocus' analysis, Tsumura (TSE:4540) is currently considered Modestly Undervalued. The stock's GF Value™ is 円4,229.66, compared to a current price of 円3,767.00 — trading 10.9% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.88, which is near median its 10-year median of 2.03 and 5.1% below the Drug Manufacturers industry median of 1.98. Tsumura's overall GF Score™ is 79/100 with 4 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 Tsumura (TSE:4540), the current Cyclically Adjusted PS Ratio is 1.88 as of Aug. 04, 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 Tsumura (TSE:4540) Overvalued in 2026?

Based on GuruFocus' analysis, Tsumura stock appears to be undervalued. The current stock price of 円3,767.00 is trading 10.9% below its estimated GF Value™ of 円4,229.66. GuruFocus considers Tsumura to be Modestly Undervalued.

Key valuation signals for TSE:4540:

  • Cyclically Adjusted PS Ratio: 1.88 (near median its 10-year median of 2.03)
  • GF Value™: 円4,229.66 vs. price of 円3,767.00 (10.9% below fair value)
  • GF Score™: 79/100 with 4 warning signs
  • Industry Position: 5.1% below the Drug Manufacturers median (#364 of 749)

No single metric tells the full story. See the TSE:4540 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tsumura Business Description

Other Exchanges TSUA:Germany
Address 2-17-11 Akasaka, Minato-ku, Tokyo, JPN, 107-8521
Tsumura & Co is a specialty and generic drug manufacturing company. The company generates the majority of its revenue through prescription Kampo products, followed by over-the-counter medicines. It promotes its products through educational support at medical schools and by hosting seminars for physicians and consumers. The company specializes in developing, producing, and marketing Kampo formulations that integrate traditional herbal knowledge with modern pharmaceutical science to address various health conditions.
79GF Score

Get the complete analysis for TSE:4540

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

円3,767.00
Price
円4,229.66
GF Value