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The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-22), Topcon's share price is 円3280.00. Topcon's Book Value per Share for the quarter that ended in Sep. 2025 was 円921.31. Hence, Topcon's PB Ratio of today is 3.56.
Warning Sign:
Topcon Corp stock PB Ratio (=3.56) is close to 5-year high of 3.57.
The historical rank and industry rank for Topcon's PB Ratio or its related term are showing as below:
TSE:7732'
s PB Ratio Range Over the Past 10 Years
Min: 1.12 Med: 2.3 Max: 4.6
Current: 3.56
During the past 13 years, Topcon's highest PB Ratio was 4.60. The lowest was 1.12. And the median was 2.30.
TSE:7732's PB Ratio is not ranked
in the Hardware industry.
Industry Median: 2.205
vs TSE:7732: 3.56
During the past 12 months, Topcon's average Book Value Per Share Growth Rate was -5.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 7.30% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 11.80% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 6.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Topcon was 18.50% per year. The lowest was -13.00% per year. And the median was 5.05% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Topcon PB Ratio Related Terms
Topcon PB Ratio Historical Data
* Premium members only.
The historical data trend for Topcon's PB 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.
For the Scientific & Technical Instruments subindustry, Topcon's PB Ratio, along with its competitors' market caps and PB 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.
Topcon PB Ratio vs Hardware Industry
For the Hardware industry and Technology sector, Topcon's PB Ratio distribution charts can be found below:
* The bar in red indicates where Topcon's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Topcon's PB Ratio for today is calculated as follows:
* 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Topcon (TSE:7732) has a PB Ratio of 3.56 as of Jul. 22, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Topcon and its competitors. This is 55% above median its historical median of 2.30. Over the past decade, Topcon's PB Ratio has ranged from 1.12 to 4.60.
Is Topcon's PB Ratio too high?
Topcon's current PB Ratio of 3.56 is 55% above median its 10-year median of 2.30. Over the past 10 years, this metric has ranged from a low of 1.12 to a high of 4.60. The Hardware industry median PB Ratio is 2.21. Topcon's value of 3.56 is 61.5% above this industry median. Overall, Topcon has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Topcon's PB Ratio compare to GRMN and KEYS?
Topcon's PB Ratio of 3.56 can be compared against companies in the Hardware industry. The industry median PB Ratio is 2.21. Topcon's value of 3.56 is 61.5% above this benchmark. Historically, Topcon's own PB Ratio has ranged from 1.12 to 4.60 over the past decade. While the company's 10-year median is 2.30 vs. the industry median of 2.21, Topcon 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 PB Ratio for a Hardware company?
The median PB Ratio among Hardware companies is 2.21, based on 2,418 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Topcon's current PB Ratio of 3.56 is 61.5% 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 PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Topcon and its competitors. For the Hardware industry, the median PB Ratio is 2.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Topcon's current PB Ratio is 3.56, which is 55% above median its own 10-year median of 2.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Topcon stock overvalued right now?
Topcon (TSE:7732) has a current PB Ratio of 3.56. The stock's GF Value™ is 円1,799.46, compared to a current price of 円3,280.00 — trading 82.3% above its estimated fair value. The current PB Ratio is 3.56, which is 55% above median its 10-year median of 2.30 and 61.5% above the Hardware industry median of 2.21. Topcon's overall GF Score™ is 57/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Topcon (TSE:7732), the current PB Ratio is 3.56 as of Jul. 22, 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 Topcon (TSE:7732) Overvalued in 2026?
Based on GuruFocus' analysis, Topcon stock appears to be overvalued.
The current stock price of 円3,280.00 is trading 82.3% above its estimated GF Value™ of 円1,799.46.
Key valuation signals for TSE:7732:
PB Ratio: 3.56 (55% above median its 10-year median of 2.30)
GF Value™: 円1,799.46 vs. price of 円3,280.00 (82.3% above fair value)
Industry Position: 61.5% above the Hardware median
No single metric tells the full story. See the TSE:7732 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Topcon Corp sells ophthalmic instruments, medical equipment, machine control systems, and GPS-related products. Its operations are structured around three main areas: the Positioning Business, Eye Care Business, and Other. The Positioning division handles products such as total stations, 3D laser scanners, ICT automated construction systems, IT agricultural systems, GNSS receivers for surveying, laser equipment, and software for construction and civil engineering. The Eye Care division provides 3D fundus imaging devices, fundus cameras, auto and kerato refractors, slit lamps, tonometers, lens meters, ophthalmic laser systems, and related software for image management and electronic medical records.
57GF Score
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