JGC Holdings (TSE:1963) Cyclically Adjusted Revenue per Share: 円2,821.83 (As of Mar. 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.
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:1963 JGC Holdings Corp TSE:1963
64 GF Score
Price 円2,202.00
GF Value 円1,297.19
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is JGC Holdings Cyclically Adjusted Revenue per Share?

JGC Holdings TSE:1963 -3.00% 64 Cyclically Adjusted Revenue per Share is 円2,821.83 as of Mar. 2026. GuruFocus rates TSE:1963 with a GF Score™ of 64/100 and a GF Value™ of 円1,297.19 (Significantly Overvalued). The stock has 3 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and 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.

JGC Holdings's adjusted revenue per share for the three months ended in Mar. 2026 was 円737.622. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is 円2,821.83 for the trailing ten years ended in Mar. 2026.

During the past 12 months, JGC Holdings's average Cyclically Adjusted Revenue Growth Rate was -1.70% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 2.10% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 2.00% per year. During the past 10 years, the average Cyclically Adjusted Revenue Growth Rate was 1.40% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of JGC Holdings was 3.40% per year. The lowest was -0.30% per year. And the median was 1.90% per year.

As of today (2026-07-19), JGC Holdings's current stock price is 円2202.00. JGC Holdings's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was 円2,821.83. JGC Holdings's Cyclically Adjusted PS Ratio of today is 0.78.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of JGC Holdings was 1.05. The lowest was 0.27. And the median was 0.61.


JGC Holdings  (TSE:1963) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

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.

JGC Holdings's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=2202.00/2821.83
=0.78

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of JGC Holdings was 1.05. The lowest was 0.27. And the median was 0.61.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


JGC Holdings Cyclically Adjusted Revenue per Share Related Terms


JGC Holdings Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for JGC Holdings's Cyclically Adjusted Revenue per Share 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.

JGC Holdings Cyclically Adjusted Revenue per Share Chart

JGC Holdings Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,596.71 2,652.07 2,769.97 2,871.52 2,821.83

JGC Holdings Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Revenue per Share 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 2,871.52 2,872.27 2,855.97 2,857.62 2,821.83

TSE:1963 vs PWR, FIX, EME: Cyclically Adjusted Revenue per Share Comparison

For the Engineering & Construction subindustry, JGC Holdings'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.


JGC Holdings Cyclically Adjusted PS Ratio vs Construction Industry

For the Construction industry and Industrials sector, JGC Holdings's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSE:1963
64GF Score
JGC Holdings Corp TSE:1963
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

JGC Holdings Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and 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.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, JGC Holdings'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)
=737.622/112.7000*112.7000
=737.622

Current CPI (Mar. 2026) = 112.7000.

JGC Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 647.506 98.100 743.873
201609 614.310 98.000 706.457
201612 778.518 98.400 891.656
201703 706.903 98.100 812.110
201706 606.497 98.500 693.931
201709 760.262 98.800 867.222
201712 737.964 99.400 836.706
201803 760.765 99.200 864.297
201806 579.282 99.200 658.116
201809 523.820 99.900 590.936
201812 579.902 99.700 655.516
201903 771.306 99.700 871.877
201906 425.888 99.800 480.938
201909 439.443 100.100 494.758
201912 490.880 100.500 550.469
202003 549.110 100.300 616.996
202006 383.806 99.900 432.982
202009 406.162 99.900 458.203
202012 417.989 99.300 474.394
202103 511.126 99.900 576.616
202106 424.023 99.500 480.275
202109 438.886 100.100 494.130
202112 401.976 100.100 452.574
202203 431.372 101.100 480.867
202206 467.920 101.800 518.021
202209 589.801 103.100 644.719
202212 591.346 104.100 640.199
202303 775.886 104.400 837.570
202306 747.237 105.200 800.510
202309 927.156 106.200 983.903
202312 818.552 106.800 863.772
202403 958.537 107.200 1,007.716
202406 844.617 108.200 879.744
202409 837.955 108.900 867.195
202412 817.279 110.700 832.045
202503 1,050.984 111.100 1,066.120
202506 784.705 111.700 791.730
202509 791.605 112.000 796.553
202512 767.007 113.000 764.971
202603 737.622 112.700 737.622

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of 円2,821.83 mean?
JGC Holdings (TSE:1963) has a Cyclically Adjusted Revenue per Share of 円2,821.83 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on JGC Holdings and its competitors.
Is JGC Holdings' Cyclically Adjusted Revenue per Share too high?
JGC Holdings' current Cyclically Adjusted Revenue per Share is 円2,821.83. Overall, JGC Holdings has a GF Score™ of 64/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does JGC Holdings' Cyclically Adjusted Revenue per Share compare to PWR and FIX?
JGC Holdings' Cyclically Adjusted Revenue per Share of 円2,821.83 can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a Construction company?
A good Cyclically Adjusted Revenue per Share depends on the Construction industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on JGC Holdings and its competitors. JGC Holdings's current Cyclically Adjusted Revenue per Share is 円2,821.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is JGC Holdings stock overvalued right now?
Based on GuruFocus' analysis, JGC Holdings (TSE:1963) is currently considered Significantly Overvalued. The stock's GF Value™ is 円1,297.19, compared to a current price of 円2,202.00 — trading 69.8% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is 円2,821.83. JGC Holdings' overall GF Score™ is 64/100 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 Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For JGC Holdings (TSE:1963), the current Cyclically Adjusted Revenue per Share is 円2,821.83 as of Mar. 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 JGC Holdings (TSE:1963) Overvalued in 2026?

Based on GuruFocus' analysis, JGC Holdings stock appears to be overvalued. The current stock price of 円2,202.00 is trading 69.8% above its estimated GF Value™ of 円1,297.19. GuruFocus considers JGC Holdings to be Significantly Overvalued.

Key valuation signals for TSE:1963:

  • Cyclically Adjusted Revenue per Share: 円2,821.83
  • GF Value™: 円1,297.19 vs. price of 円2,202.00 (69.8% above fair value)
  • GF Score™: 64/100 with 3 warning signs

No single metric tells the full story. See the TSE:1963 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


JGC Holdings Business Description

Address 2-3-1 Minatomirai, Nishi-Ku, Kanagawa, Yokohama-shi, JPN, 220-6001
JGC Holdings Corp is a Japan-based company engaged in providing infrastructure construction services. The company operates through two segments. The Comprehensive Engineering segment provides EPC services including design, procurement, construction, and commissioning of equipment and facilities for petroleum, oil refining, petrochemicals, gas, and LNG. The Functional Materials Manufacturing segment produces and sells catalysts, nanoparticle technology products, clean and safety materials, electronic materials, high-performance ceramics, and next-generation energy solutions. The Others segment includes consulting, office support, desalination, and crude oil and gas production and sales. It generates the majority of its revenue from the Comprehensive engineering segment.
64GF Score

Get the complete analysis for TSE:1963

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

円2,202.00
Price
円1,297.19
GF Value