IHI (TSE:7013) Cyclically Adjusted PS Ratio: 1.91 (As of Jul. 29, 2026) — 416% Above 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:7013 IHI Corp TSE:7013
68 GF Score
Price 円2,755.00
GF Value 円1,302.81
Valuation Significantly Overvalued
! 2 Warning Signs
View Full Analysis

What is IHI Cyclically Adjusted PS Ratio?

IHI TSE:7013 -0.70% 68 Cyclically Adjusted PS Ratio is 1.91 as of Jul. 29, 2026, which is 416% above its 10-year median of 0.37. GuruFocus rates TSE:7013 with a GF Score™ of 68/100 and a GF Value™ of 円1,302.81 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 2,300 Industrial Products companies, IHI ranks worse than 54.43% on this metric.

As of today (2026-07-29), IHI's current share price is 円2755.00. IHI's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was 円1,444.55. IHI's Cyclically Adjusted PS Ratio for today is 1.91.

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

TSE:7013' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.12   Med: 0.37   Max: 3.02
Current: 1.99

During the past years, IHI's highest Cyclically Adjusted PS Ratio was 3.02. The lowest was 0.12. And the median was 0.37.

TSE:7013's Cyclically Adjusted PS Ratio is ranked worse than
54.43% of 2300 companies
in the Industrial Products industry
Industry Median: 1.71 vs TSE:7013: 1.99

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.

IHI's adjusted revenue per share data for the three months ended in Mar. 2026 was 円484.917. 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1,444.55 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


IHI  (TSE:7013) 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.


IHI Cyclically Adjusted PS Ratio Related Terms


IHI Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for IHI'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.

IHI Cyclically Adjusted PS Ratio Chart

IHI 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 0.32 0.35 0.42 1.03 2.17

IHI 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 1.03 1.56 1.92 1.90 2.17

TSE:7013 vs GEV, ETN, PH: Cyclically Adjusted PS Ratio Comparison

For the Specialty Industrial Machinery subindustry, IHI'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.


IHI Cyclically Adjusted PS Ratio vs Industrial Products Industry

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

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


TSE:7013
68GF Score
IHI Corp TSE:7013
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

IHI 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.

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

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=2755.00/1444.55
=1.91

* 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.

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

For example, IHI'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)
=484.917/112.7000*112.7000
=484.917

Current CPI (Mar. 2026) = 112.7000.

IHI Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 315.865 98.100 362.874
201609 324.174 98.000 372.800
201612 320.490 98.400 367.065
201703 414.547 98.100 476.243
201706 371.959 98.500 425.582
201709 343.176 98.800 391.457
201712 330.879 99.400 375.152
201803 424.680 99.200 482.474
201806 311.874 99.200 354.317
201809 335.215 99.900 378.165
201812 321.854 99.700 363.821
201903 403.735 99.700 456.378
201906 260.323 99.800 293.972
201909 290.499 100.100 327.065
201912 308.699 100.500 346.173
202003 327.901 100.300 368.439
202006 209.123 99.900 235.918
202009 253.926 99.900 286.461
202012 272.775 99.300 309.585
202103 334.394 99.900 377.239
202106 235.887 99.500 267.181
202109 258.573 100.100 291.121
202112 283.002 100.100 318.625
202203 336.887 101.100 375.541
202206 249.573 101.800 276.295
202209 311.775 103.100 340.805
202212 332.312 104.100 359.765
202303 383.892 104.400 414.412
202306 281.071 105.200 301.109
202309 162.259 106.200 172.190
202312 374.107 106.800 394.774
202403 430.313 107.200 452.391
202406 328.595 108.200 342.261
202409 386.302 108.900 399.782
202412 370.421 110.700 377.113
202503 450.008 111.100 456.489
202506 318.752 111.700 321.606
202509 354.619 112.000 356.835
202512 392.149 113.000 391.108
202603 484.917 112.700 484.917

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 1.91 mean?
IHI (TSE:7013) has a Cyclically Adjusted PS Ratio of 1.91 as of Jul. 29, 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 IHI and its competitors. This is 416% above median its historical median of 0.37. Over the past decade, IHI's Cyclically Adjusted PS Ratio has ranged from 0.12 to 3.02. According to the industry distribution chart, IHI ranks #1252 out of 2300 companies in the Industrial Products industry, placing it in the top 54.4%.
Is IHI's Cyclically Adjusted PS Ratio too high?
IHI's current Cyclically Adjusted PS Ratio of 1.91 is 416% above median its 10-year median of 0.37. Over the past 10 years, this metric has ranged from a low of 0.12 to a high of 3.02. The Industrial Products industry median Cyclically Adjusted PS Ratio is 1.71. IHI's value of 1.91 is 11.7% above this industry median. Based on the distribution chart, IHI ranks #1252 out of 2300 companies in the Industrial Products industry, which is below the industry midpoint. Overall, IHI has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IHI's Cyclically Adjusted PS Ratio compare to GEV and ETN?
According to the Industrial Products industry distribution chart, IHI ranks #1252 out of 2300 companies for Cyclically Adjusted PS Ratio. This places IHI in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.71. IHI's value of 1.91 is 11.7% above this benchmark. Historically, IHI's own Cyclically Adjusted PS Ratio has ranged from 0.12 to 3.02 over the past decade. While the company's 10-year median is 0.37 vs. the industry median of 1.71, IHI 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 an Industrial Products company?
The median Cyclically Adjusted PS Ratio among Industrial Products companies is 1.71, based on 2,300 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. IHI's current Cyclically Adjusted PS Ratio of 1.91 is 11.7% 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 IHI and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PS Ratio is 1.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IHI's current Cyclically Adjusted PS Ratio is 1.91, which is 416% above median its own 10-year median of 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IHI stock overvalued right now?
Based on GuruFocus' analysis, IHI (TSE:7013) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,302.81, compared to a current price of 円2,755.00 — trading 111.5% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.91, which is 416% above median its 10-year median of 0.37 and 11.7% above the Industrial Products industry median of 1.71. IHI's overall GF Score™ is 68/100 with 2 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 IHI (TSE:7013), the current Cyclically Adjusted PS Ratio is 1.91 as of Jul. 29, 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 IHI (TSE:7013) Overvalued in 2026?

Based on GuruFocus' analysis, IHI stock appears to be overvalued. The current stock price of 円2,755.00 is trading 111.5% above its estimated GF Value™ of 円1,302.81. GuruFocus considers IHI to be Significantly Overvalued.

Key valuation signals for TSE:7013:

  • Cyclically Adjusted PS Ratio: 1.91 (416% above median its 10-year median of 0.37)
  • GF Value™: 円1,302.81 vs. price of 円2,755.00 (111.5% above fair value)
  • GF Score™: 68/100 with 2 warning signs
  • Industry Position: 11.7% above the Industrial Products median (#1252 of 2300)

No single metric tells the full story. See the TSE:7013 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


IHI Business Description

Address 1-1 Toyosu 3-chome, Toyosu IHI Building, Koto-ku, Tokyo, JPN, 135-8710
IHI Corp produces power systems and plants, large steel structures, marine machinery, aerospace engines, and other industrial solutions. The company operates its business through four segments. The Aviation, Space, and Defense segment covers aero engines, rocket systems, space utilization, and defense equipment. The Industrial System and General-purpose Machinery segment includes turbochargers, compressors, logistics systems, and industrial machinery. The Resources, Energy, Environment segment focuses on nuclear power, carbon solutions, and related equipment. The Social Infrastructure segment involves bridges, transportation systems, shield systems, construction materials, and urban development.
68GF Score

Get the complete analysis for TSE:7013

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

円2,755.00
Price
円1,302.81
GF Value