Disco (TSE:6146) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

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.
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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:6146 Disco Corp TSE:6146
98 GF Score
Price 円52,420.00
GF Value 円60,520.76
Valuation Modestly Undervalued
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What is Disco Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Disco  (TSE:6146) 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.


Disco Cyclically Adjusted PS Ratio Related Terms


Disco Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Disco'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.

Disco Cyclically Adjusted PS Ratio Chart

Disco 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 8.18 9.50 31.31 14.09 25.34

Disco 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 19.46 20.60 20.50 25.21 32.24

TSE:6146 vs LRCX, AMAT, KLAC: Cyclically Adjusted PS Ratio Comparison

For the Semiconductor Equipment & Materials subindustry, Disco'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.


Disco Cyclically Adjusted PS Ratio vs Semiconductors Industry

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

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


TSE:6146
98GF Score
Disco Corp TSE:6146
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Disco 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.

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

For example, Disco'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)
=1048.885/113.6000*113.6000
=1,048.885

Current CPI (Jun. 2026) = 113.6000.

Disco Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 314.616 98.000 364.698
201612 279.186 98.400 322.312
201703 358.440 98.100 415.074
201706 410.328 98.500 473.231
201709 388.951 98.800 447.215
201712 373.223 99.400 426.541
201803 372.685 99.200 426.784
201806 372.428 99.200 426.490
201809 368.778 99.900 419.351
201812 313.877 99.700 357.637
201903 306.347 99.700 349.057
201906 302.359 99.800 344.168
201909 323.935 100.100 367.623
201912 317.657 100.500 359.063
202003 358.020 100.300 405.494
202006 328.796 99.900 373.886
202009 438.521 99.900 498.659
202012 409.092 99.300 468.005
202103 508.952 99.900 578.748
202106 444.656 99.500 507.668
202109 624.181 100.100 708.361
202112 590.963 100.100 670.663
202203 676.790 101.100 760.468
202206 550.098 101.800 613.862
202209 732.137 103.100 806.700
202212 606.002 104.100 661.305
202303 723.670 104.400 787.442
202306 496.440 105.200 536.080
202309 664.959 106.200 711.293
202312 708.030 106.800 753.111
202403 958.663 107.200 1,015.897
202406 759.371 108.200 797.269
202409 884.827 108.900 923.015
202412 860.165 110.700 882.699
202503 1,109.913 111.100 1,134.889
202506 826.595 111.700 840.655
202509 961.874 112.000 975.615
202512 1,004.732 113.000 1,010.067
202603 1,223.175 112.700 1,232.943
202606 1,048.885 113.600 1,048.885

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 Disco (TSE:6146) Overvalued in 2026?

Based on GuruFocus' analysis, Disco stock appears to be undervalued. The current stock price of 円52,420.00 is trading 13.4% below its estimated GF Value™ of 円60,520.76. GuruFocus considers Disco to be Modestly Undervalued.

Key valuation signals for TSE:6146:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: 円60,520.76 vs. price of 円52,420.00 (13.4% below fair value)
  • GF Score™: 98/100

No single metric tells the full story. See the TSE:6146 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Disco Business Description

Address 2-13-11 Omorikita, Ota-ku, Tokyo, JPN, 143-8580
Disco is a Japan-based semiconductor production equipment manufacturer. Founded in 1937, the company manufactures diamond, water, and laser saws, as well as grinders and polishers, used mainly in back-end processes of semiconductor manufacturing, which involves treating processed silicon during the front-end process by thinning and dicing the wafers into bare dies for packaging.It is the world's largest manufacturer of semiconductor-grade saws and grinders, with an estimated 60%-70% market share in the semiconductor dicing and grinding industry as of 2025. The company operates three main factories, all located in Hiroshima and Nagano, Japan.
98GF Score

Get the complete analysis for TSE:6146

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

円52,420.00
Price
円60,520.76
GF Value