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ToseiTSE:8923 +0.62%90 PB Ratio is 1.57 as of Jul. 22, 2026, which is 59% above its 10-year median of 0.99. GuruFocus rates TSE:8923 with a GF Score™ of 90/100 and a GF Value™ of 円1,677.61 (Fairly Valued). The stock has 7 warning signs investors should review. Among 1,713 Real Estate companies, Tosei ranks worse than 77.23% on this metric.
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), Tosei's share price is 円1794.00. Tosei's Book Value per Share for the quarter that ended in May. 2026 was 円1,146.24. Hence, Tosei's PB Ratio of today is 1.57.
Warning Sign:
Tosei Corp stock PB Ratio (=1.56) is close to 10-year high of 1.69.
The historical rank and industry rank for Tosei's PB Ratio or its related term are showing as below:
TSE:8923'
s PB Ratio Range Over the Past 10 Years
Min: 0.64 Med: 0.99 Max: 1.69
Current: 1.57
During the past 13 years, Tosei's highest PB Ratio was 1.69. The lowest was 0.64. And the median was 0.99.
TSE:8923's PB Ratio is ranked worse than 77.23% of 1713
companies
in the Real Estate industry
Industry Median: 0.82
vs TSE:8923: 1.57
During the past 12 months, Tosei's average Book Value Per Share Growth Rate was 12.00% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 11.50% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 11.00% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 10.40% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Tosei was 13.00% per year. The lowest was -2.00% per year. And the median was 9.40% 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.
Tosei PB Ratio Related Terms
Tosei PB Ratio Historical Data
* Premium members only.
The historical data trend for Tosei'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 Real Estate - Diversified subindustry, Tosei'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.
Tosei PB Ratio vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Tosei's PB Ratio distribution charts can be found below:
* The bar in red indicates where Tosei'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.
Tosei'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.
Tosei (TSE:8923) has a PB Ratio of 1.57 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 Tosei and its competitors. This is 59% above median its historical median of 0.99. Over the past decade, Tosei's PB Ratio has ranged from 0.64 to 1.69. According to the industry distribution chart, Tosei ranks #1323 out of 1713 companies in the Real Estate industry, placing it in the top 77.2%.
Is Tosei's PB Ratio too high?
Tosei's current PB Ratio of 1.57 is 59% above median its 10-year median of 0.99. Over the past 10 years, this metric has ranged from a low of 0.64 to a high of 1.69. The Real Estate industry median PB Ratio is 0.82. Tosei's value of 1.57 is 91.5% above this industry median. Based on the distribution chart, Tosei ranks #1323 out of 1713 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Tosei has a GF Score™ of 90/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tosei's PB Ratio compare to competitors?
According to the Real Estate industry distribution chart, Tosei ranks #1323 out of 1713 companies for PB Ratio. This places Tosei in the lower half of its industry. The industry median PB Ratio is 0.82. Tosei's value of 1.57 is 91.5% above this benchmark. Historically, Tosei's own PB Ratio has ranged from 0.64 to 1.69 over the past decade. While the company's 10-year median is 0.99 vs. the industry median of 0.82, Tosei 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 Real Estate company?
The median PB Ratio among Real Estate companies is 0.82, based on 1,713 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. Tosei's current PB Ratio of 1.57 is 91.5% 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 Tosei and its competitors. For the Real Estate industry, the median PB Ratio is 0.82 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tosei's current PB Ratio is 1.57, which is 59% above median its own 10-year median of 0.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tosei stock overvalued right now?
Based on GuruFocus' analysis, Tosei (TSE:8923) is currently considered Fairly Valued. The stock's GF Value™ is 円1,677.61, compared to a current price of 円1,794.00 — trading 6.9% above its estimated fair value. The current PB Ratio is 1.57, which is 59% above median its 10-year median of 0.99 and 91.5% above the Real Estate industry median of 0.82. Tosei's overall GF Score™ is 90/100 with 7 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 Tosei (TSE:8923), the current PB Ratio is 1.57 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 Tosei (TSE:8923) Overvalued in 2026?
Based on GuruFocus' analysis, Tosei stock appears to be overvalued.
The current stock price of 円1,794.00 is trading 6.9% above its estimated GF Value™ of 円1,677.61.
GuruFocus considers Tosei to be Fairly Valued.
Key valuation signals for TSE:8923:
PB Ratio: 1.57 (59% above median its 10-year median of 0.99)
GF Value™: 円1,677.61 vs. price of 円1,794.00 (6.9% above fair value)
Industry Position: 91.5% above the Real Estate median (#1323 of 1713)
No single metric tells the full story. See the TSE:8923 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tosei Corp is a diversified real estate company based in Japan. It is engaged in selling condominiums, detached houses, rental condominiums, and office buildings to individual customers and investors; providing asset management services for real estate funds, leasing properties; operating a real estate revitalization business; and operating hotels, among other activities. Along with its subsidiaries, the company operates in the following reportable segments: Real Estate Revitalization, Real Estate Development, Real Estate Leasing, Real Estate Fund and Consulting, Real Estate Management, and Hotel. Maximum revenue is generated from its Real Estate Revitalization Business, which revitalizes and sells properties with deteriorated asset value.
90GF Score
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