H.I.S. Co (TSE:9603) Cyclically Adjusted PS Ratio: 0.16 (As of Aug. 23, 2026) — 36% Below Median

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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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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:9603 H.I.S. Co Ltd TSE:9603
52 GF Score
Price 円1,152.00
GF Value 円2,003.77
Valuation Possible Value Trap
! 3 Warning Signs
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What is H.I.S. Co Cyclically Adjusted PS Ratio?

H.I.S. Co TSE:9603 +0.44% 52 Cyclically Adjusted PS Ratio is 0.16 as of Aug. 23, 2026, which is 36% below its 10-year median of 0.25. GuruFocus rates TSE:9603 with a GF Score™ of 52/100 and a GF Value™ of 円2,003.77 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 673 Travel & Leisure companies, H.I.S. Co ranks better than 93.91% on this metric.

As of today (2026-08-23), H.I.S. Co's current share price is 円1152.00. H.I.S. Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Apr. 2026 was 円7,034.92. H.I.S. Co's Cyclically Adjusted PS Ratio for today is 0.16.

The historical rank and industry rank for H.I.S. Co's Cyclically Adjusted PS Ratio or its related term are showing as below:

TSE:9603' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.13   Med: 0.25   Max: 0.58
Current: 0.16

During the past years, H.I.S. Co's highest Cyclically Adjusted PS Ratio was 0.58. The lowest was 0.13. And the median was 0.25.

TSE:9603's Cyclically Adjusted PS Ratio is ranked better than
93.91% of 673 companies
in the Travel & Leisure industry
Industry Median: 1.32 vs TSE:9603: 0.16

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.

H.I.S. Co's adjusted revenue per share data for the three months ended in Apr. 2026 was 円1,229.354. 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7,034.92 for the trailing ten years ended in Apr. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


H.I.S. Co  (TSE:9603) 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.


H.I.S. Co Cyclically Adjusted PS Ratio Related Terms


H.I.S. Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for H.I.S. 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.

H.I.S. Co Cyclically Adjusted PS Ratio Chart

H.I.S. Co Annual Data
Trend Oct16 Oct17 Oct18 Oct19 Oct20 Oct21 Oct22 Oct23 Oct24 Oct25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.32 0.26 0.22 0.24 0.18

H.I.S. Co Quarterly Data
Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25 Jul25 Oct25 Jan26 Apr26
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 0.23 0.20 0.18 0.18 0.15

TSE:9603 vs BKNG, ABNB, RCL: Cyclically Adjusted PS Ratio Comparison

For the Travel Services subindustry, H.I.S. 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.


H.I.S. Co Cyclically Adjusted PS Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, H.I.S. Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where H.I.S. Co's Cyclically Adjusted PS Ratio falls into.


TSE:9603
52GF Score
H.I.S. Co Ltd TSE:9603
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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H.I.S. 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.

H.I.S. Co's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=1152.00/7034.92
=0.16

* 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.

H.I.S. Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Apr. 2026 is calculated as:

For example, H.I.S. Co's adjusted Revenue per Share data for the three months ended in Apr. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Apr. 2026 (Change)*Current CPI (Apr. 2026)
=1229.354/113.0000*113.0000
=1,229.354

Current CPI (Apr. 2026) = 113.0000.

H.I.S. Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201607 1,777.206 97.900 2,051.321
201610 2,476.064 98.600 2,837.680
201701 1,898.934 98.200 2,185.128
201704 2,224.861 98.500 2,552.379
201707 2,226.210 98.300 2,559.122
201710 3,028.811 98.800 3,464.126
201801 2,466.365 99.500 2,800.997
201804 2,666.737 99.100 3,040.780
201807 2,540.558 99.200 2,893.982
201810 3,319.272 100.200 3,743.291
201901 2,823.441 99.700 3,200.089
201904 2,873.040 100.000 3,246.535
201907 2,946.287 99.800 3,335.976
201910 4,091.682 100.400 4,605.180
202001 3,223.024 100.500 3,623.898
202004 2,519.277 100.200 2,841.101
202007 985.683 100.000 1,113.822
202010 466.199 99.800 527.861
202101 576.368 99.800 652.601
202104 423.351 99.100 482.731
202107 329.923 99.700 373.935
202110 435.308 99.900 492.390
202201 464.719 100.300 523.562
202204 472.051 101.500 525.535
202207 425.337 102.300 469.825
202210 579.484 103.700 631.453
202301 623.967 104.700 673.431
202304 767.567 105.100 825.262
202307 825.667 105.700 882.690
202310 1,180.854 107.100 1,245.906
202401 1,014.451 106.900 1,072.338
202404 1,012.172 107.700 1,061.982
202407 964.759 108.600 1,003.847
202410 1,331.939 109.500 1,374.512
202501 1,176.887 111.200 1,195.937
202504 1,109.598 111.500 1,124.525
202507 1,134.918 111.900 1,146.074
202510 1,425.337 112.800 1,427.864
202601 1,308.995 112.900 1,310.154
202604 1,229.354 113.000 1,229.354

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 0.16 mean?
H.I.S. Co (TSE:9603) has a Cyclically Adjusted PS Ratio of 0.16 as of Aug. 23, 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 H.I.S. Co and its competitors. This is 36% below median its historical median of 0.25. Over the past decade, H.I.S. Co's Cyclically Adjusted PS Ratio has ranged from 0.13 to 0.58. According to the industry distribution chart, H.I.S. Co ranks #41 out of 673 companies in the Travel & Leisure industry, placing it in the top 6.1%.
Is H.I.S. Co's Cyclically Adjusted PS Ratio too high?
H.I.S. Co's current Cyclically Adjusted PS Ratio of 0.16 is 36% below median its 10-year median of 0.25. Over the past 10 years, this metric has ranged from a low of 0.13 to a high of 0.58. The Travel & Leisure industry median Cyclically Adjusted PS Ratio is 1.32. H.I.S. Co's value of 0.16 is 87.9% below this industry median. Based on the distribution chart, H.I.S. Co ranks #41 out of 673 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, H.I.S. Co has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does H.I.S. Co's Cyclically Adjusted PS Ratio compare to BKNG and ABNB?
According to the Travel & Leisure industry distribution chart, H.I.S. Co ranks #41 out of 673 companies for Cyclically Adjusted PS Ratio. This places H.I.S. Co in the top 6% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 1.32. H.I.S. Co's value of 0.16 is 87.9% below this benchmark. Historically, H.I.S. Co's own Cyclically Adjusted PS Ratio has ranged from 0.13 to 0.58 over the past decade. While the company's 10-year median is 0.25 vs. the industry median of 1.32, H.I.S. 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 a Travel & Leisure company?
The median Cyclically Adjusted PS Ratio among Travel & Leisure companies is 1.32, based on 673 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. H.I.S. Co's current Cyclically Adjusted PS Ratio of 0.16 is 87.9% 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 H.I.S. Co and its competitors. For the Travel & Leisure industry, the median Cyclically Adjusted PS Ratio is 1.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. H.I.S. Co's current Cyclically Adjusted PS Ratio is 0.16, which is 36% below median its own 10-year median of 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is H.I.S. Co stock overvalued right now?
Based on GuruFocus' analysis, H.I.S. Co (TSE:9603) is currently considered Possible Value Trap. The stock's GF Value™ is 円2,003.77, compared to a current price of 円1,152.00 — trading 42.5% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.16, which is 36% below median its 10-year median of 0.25 and 87.9% below the Travel & Leisure industry median of 1.32. H.I.S. Co'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 H.I.S. Co (TSE:9603), the current Cyclically Adjusted PS Ratio is 0.16 as of Aug. 23, 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 H.I.S. Co (TSE:9603) Overvalued in 2026?

Based on GuruFocus' analysis, H.I.S. Co stock appears to be undervalued. The current stock price of 円1,152.00 is trading 42.5% below its estimated GF Value™ of 円2,003.77. GuruFocus considers H.I.S. Co to be Possible Value Trap.

Key valuation signals for TSE:9603:

  • Cyclically Adjusted PS Ratio: 0.16 (36% below median its 10-year median of 0.25)
  • GF Value™: 円2,003.77 vs. price of 円1,152.00 (42.5% below fair value)
  • GF Score™: 52/100 with 3 warning signs
  • Industry Position: 87.9% below the Travel & Leisure median (#41 of 673)

No single metric tells the full story. See the TSE:9603 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


H.I.S. Co Business Description

Other Exchanges HIZ:Germany
Address 6-8-1 Nishishinjuku, Shinjuku Oak Tower 29F, Shinjuku-ku, Tokyo, JPN, 163-6029
H.I.S. Co Ltd is a Japanese tourism and leisure company. The company organises itself into six segments: travel business, Huis Ten Bosch Group, hotel business, transportation business, The Kyushu Sanko Group, and other business. The travel business segment, which contributes the vast majority of company revenue, includes the company's domestic and international travel agency operations including tours, cruises, honeymoons, and airline tickets. The Huis Ten Bosch Group, the second- largest contributor to company revenue, includes H.I.S.'s theme and water park operations. The company earns the majority of its revenue within Japan.
52GF Score

Get the complete analysis for TSE:9603

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

円1,152.00
Price
円2,003.77
GF Value