Pulstec Industrial Co (TSE:6894) Cyclically Adjusted PS Ratio: 1.13 (As of Aug. 13, 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:6894 Pulstec Industrial Co Ltd TSE:6894
75 GF Score
Price 円2,130.00
GF Value 円1,756.50
Valuation Modestly Overvalued
! 3 Warning Signs
View Full Analysis

What is Pulstec Industrial Co Cyclically Adjusted PS Ratio?

Pulstec Industrial Co TSE:6894 -0.51% 75 Cyclically Adjusted PS Ratio is 1.13 as of Aug. 13, 2026, which is 3% above its 10-year median of 1.10. GuruFocus rates TSE:6894 with a GF Score™ of 75/100 and a GF Value™ of 円1,756.50 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 2,291 Industrial Products companies, Pulstec Industrial Co ranks better than 62.33% on this metric.

As of today (2026-08-13), Pulstec Industrial Co's current share price is 円2130.00. Pulstec Industrial Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was 円1,888.47. Pulstec Industrial Co's Cyclically Adjusted PS Ratio for today is 1.13.

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

TSE:6894' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.86   Med: 1.1   Max: 2.34
Current: 1.13

During the past years, Pulstec Industrial Co's highest Cyclically Adjusted PS Ratio was 2.34. The lowest was 0.86. And the median was 1.10.

TSE:6894's Cyclically Adjusted PS Ratio is ranked better than
62.33% of 2291 companies
in the Industrial Products industry
Industry Median: 1.81 vs TSE:6894: 1.13

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.

Pulstec Industrial Co's adjusted revenue per share data for the three months ended in Mar. 2026 was 円672.992. 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1,888.47 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pulstec Industrial Co  (TSE:6894) 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.


Pulstec Industrial Co Cyclically Adjusted PS Ratio Related Terms


Pulstec Industrial Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Pulstec Industrial 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.

Pulstec Industrial Co Cyclically Adjusted PS Ratio Chart

Pulstec Industrial 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 1.07 0.89 1.04 0.00 1.13

Pulstec Industrial Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 0.00 0.96 1.07 1.14 1.13

TSE:6894 vs VRT, BE: Cyclically Adjusted PS Ratio Comparison

For the Electrical Equipment & Parts subindustry, Pulstec Industrial 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.


Pulstec Industrial Co Cyclically Adjusted PS Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Pulstec Industrial Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSE:6894
75GF Score
Pulstec Industrial Co Ltd TSE:6894
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pulstec Industrial 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.

Pulstec Industrial Co's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=2130.00/1888.47
=1.13

* 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.

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

For example, Pulstec Industrial Co'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)
=672.992/112.7000*112.7000
=672.992

Current CPI (Mar. 2026) = 112.7000.

Pulstec Industrial Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201603 395.565 97.900 455.364
201606 247.863 98.100 284.752
201609 438.339 98.000 504.090
201612 384.503 98.400 440.381
201703 509.700 98.100 585.557
201706 284.232 98.500 325.208
201709 390.416 98.800 445.343
201712 300.776 99.400 341.021
201803 582.606 99.200 661.892
201806 320.923 99.200 364.597
201809 450.820 99.900 508.583
201812 450.093 99.700 508.781
201903 685.084 99.700 774.413
201906 301.479 99.800 340.448
201909 379.310 100.100 427.055
201912 348.111 100.500 390.369
202003 665.085 100.300 747.309
202006 247.519 99.900 279.233
202009 321.911 99.900 363.157
202012 386.493 99.300 438.648
202103 570.950 99.900 644.105
202106 314.094 99.500 355.763
202109 495.741 100.100 558.142
202112 475.398 100.100 535.238
202203 501.156 101.100 558.658
202206 263.898 101.800 292.154
202209 597.725 103.100 653.381
202212 332.325 104.100 359.779
202303 595.831 104.400 643.201
202306 225.888 105.200 241.992
202309 500.296 106.200 530.917
202312 409.110 106.800 431.711
202403 773.817 107.200 813.518
202406 319.782 108.200 333.082
202409 390.385 108.900 404.007
202503 0.000 111.100 0.000
202506 289.404 111.700 291.995
202509 471.580 112.000 474.527
202512 432.361 113.000 431.213
202603 672.992 112.700 672.992

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 1.13 mean?
Pulstec Industrial Co (TSE:6894) has a Cyclically Adjusted PS Ratio of 1.13 as of Aug. 13, 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 Pulstec Industrial Co and its competitors. This is near median its historical median of 1.10. Over the past decade, Pulstec Industrial Co's Cyclically Adjusted PS Ratio has ranged from 0.86 to 2.34. According to the industry distribution chart, Pulstec Industrial Co ranks #863 out of 2291 companies in the Industrial Products industry, placing it in the top 37.7%.
Is Pulstec Industrial Co's Cyclically Adjusted PS Ratio too high?
Pulstec Industrial Co's current Cyclically Adjusted PS Ratio of 1.13 is near median its 10-year median of 1.10. Over the past 10 years, this metric has ranged from a low of 0.86 to a high of 2.34. The Industrial Products industry median Cyclically Adjusted PS Ratio is 1.81. Pulstec Industrial Co's value of 1.13 is 37.6% below this industry median. Based on the distribution chart, Pulstec Industrial Co ranks #863 out of 2291 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Pulstec Industrial Co has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pulstec Industrial Co's Cyclically Adjusted PS Ratio compare to VRT and BE?
According to the Industrial Products industry distribution chart, Pulstec Industrial Co ranks #863 out of 2291 companies for Cyclically Adjusted PS Ratio. This puts Pulstec Industrial Co in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.81. Pulstec Industrial Co's value of 1.13 is 37.6% below this benchmark. Historically, Pulstec Industrial Co's own Cyclically Adjusted PS Ratio has ranged from 0.86 to 2.34 over the past decade. While the company's 10-year median is 1.10 vs. the industry median of 1.81, Pulstec Industrial Co 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 an Industrial Products company?
The median Cyclically Adjusted PS Ratio among Industrial Products companies is 1.81, based on 2,291 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. Pulstec Industrial Co's current Cyclically Adjusted PS Ratio of 1.13 is 37.6% 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 Pulstec Industrial Co and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PS Ratio is 1.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pulstec Industrial Co's current Cyclically Adjusted PS Ratio is 1.13, which is near median its own 10-year median of 1.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pulstec Industrial Co stock overvalued right now?
Based on GuruFocus' analysis, Pulstec Industrial Co (TSE:6894) is currently considered Modestly Overvalued. The stock's GF Value™ is 円1,756.50, compared to a current price of 円2,130.00 — trading 21.3% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.13, which is near median its 10-year median of 1.10 and 37.6% below the Industrial Products industry median of 1.81. Pulstec Industrial Co's overall GF Score™ is 75/100 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 Pulstec Industrial Co (TSE:6894), the current Cyclically Adjusted PS Ratio is 1.13 as of Aug. 13, 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 Pulstec Industrial Co (TSE:6894) Overvalued in 2026?

Based on GuruFocus' analysis, Pulstec Industrial Co stock appears to be overvalued. The current stock price of 円2,130.00 is trading 21.3% above its estimated GF Value™ of 円1,756.50. GuruFocus considers Pulstec Industrial Co to be Modestly Overvalued.

Key valuation signals for TSE:6894:

  • Cyclically Adjusted PS Ratio: 1.13 (near median its 10-year median of 1.10)
  • GF Value™: 円1,756.50 vs. price of 円2,130.00 (21.3% above fair value)
  • GF Score™: 75/100 with 3 warning signs
  • Industry Position: 37.6% below the Industrial Products median (#863 of 2291)

No single metric tells the full story. See the TSE:6894 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Pulstec Industrial Co Business Description

Address 35, 7000 Nakagawa, Hosoe-cho, Hamana-ku, Shizuoka, Hamamatsu, JPN, 431-1304
Pulstec Industrial Co Ltd is a Japan-based company engaged in the manufacture and sale of electronic applied equipment and systems. Its products include X-ray application, optical application, optical disc, and scanner series. The company is also engaged in engaged in the manufacture and sale of portable X-ray residual stress measuring devices, healthcare, manufacturing of medical equipment, 3D scanners, various measurement, control and data processing devices, and other electronic application devices and equipment.
75GF Score

Get the complete analysis for TSE:6894

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

円2,130.00
Price
円1,756.50
GF Value