Harmonic Drive SystemsHSYDF -0.34%69 PB Ratio is 9.01 as of Jun. 25, 2026, which is 90% above its 10-year median of 4.74. GuruFocus rates HSYDF with a GF Score™ of 69/100 and a GF Value™ of $23.38 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 2,986 Industrial Products companies, Harmonic Drive Systems ranks worse than 90.66% on this metric.
Harmonic Drive Systems Inc stock PB Ratio (=9.07) is close to 5-year high of 9.19.
The historical rank and industry rank for Harmonic Drive Systems's PB Ratio or its related term are showing as below:
HSYDF'
s PB Ratio Range Over the Past 10 Years
Min: 2.18 Med: 4.74 Max: 11.05
Current: 9.22
During the past 13 years, Harmonic Drive Systems's highest PB Ratio was 11.05. The lowest was 2.18. And the median was 4.74.
HSYDF's PB Ratio is ranked worse than 90.66% of 2986
companies
in the Industrial Products industry
Industry Median: 2.32
vs HSYDF: 9.22
During the past 12 months, Harmonic Drive Systems's average Book Value Per Share Growth Rate was 2.10% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -8.10% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was -5.70% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was 4.10% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Harmonic Drive Systems was 39.00% per year. The lowest was -27.00% per year. And the median was 9.80% per year.
Back to Basics: PB Ratio
Harmonic Drive Systems (OTCPK:HSYDF) PB Ratio Explanation
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.
* 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 Specialty Industrial Machinery subindustry, Harmonic Drive Systems'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.
Harmonic Drive Systems PB Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Harmonic Drive Systems's PB Ratio distribution charts can be found below:
* The bar in red indicates where Harmonic Drive Systems'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.
* 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.
Harmonic Drive Systems (HSYDF) has a PB Ratio of 9.01 as of Jun. 25, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Harmonic Drive Systems and its competitors. This is 90% above median its historical median of 4.74. Over the past decade, Harmonic Drive Systems' PB Ratio has ranged from 2.18 to 11.05. According to the industry distribution chart, Harmonic Drive Systems ranks #2707 out of 2986 companies in the Industrial Products industry, placing it in the top 90.7%.
Is Harmonic Drive Systems' PB Ratio too high?
Harmonic Drive Systems' current PB Ratio of 9.01 is 90% above median its 10-year median of 4.74. Over the past 10 years, this metric has ranged from a low of 2.18 to a high of 11.05. The Industrial Products industry median PB Ratio is 2.32. Harmonic Drive Systems' value of 9.01 is 288.4% above this industry median. Based on the distribution chart, Harmonic Drive Systems ranks #2707 out of 2986 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Harmonic Drive Systems has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harmonic Drive Systems' PB Ratio compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Harmonic Drive Systems ranks #2707 out of 2986 companies for PB Ratio. This places Harmonic Drive Systems in the lower half of its industry. The industry median PB Ratio is 2.32. Harmonic Drive Systems' value of 9.01 is 288.4% above this benchmark. Historically, Harmonic Drive Systems' own PB Ratio has ranged from 2.18 to 11.05 over the past decade. While the company's 10-year median is 4.74 vs. the industry median of 2.32, Harmonic Drive Systems 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 an Industrial Products company?
The median PB Ratio among Industrial Products companies is 2.32, based on 2,986 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. Harmonic Drive Systems's current PB Ratio of 9.01 is 288.4% 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 Harmonic Drive Systems and its competitors. For the Industrial Products industry, the median PB Ratio is 2.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harmonic Drive Systems's current PB Ratio is 9.01, which is 90% above median its own 10-year median of 4.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harmonic Drive Systems stock overvalued right now?
Based on GuruFocus' analysis, Harmonic Drive Systems (HSYDF) is currently considered Significantly Overvalued. The stock's GF Value™ is $23.38, compared to a current price of $48.21 — trading 106.2% above its estimated fair value. The current PB Ratio is 9.01, which is 90% above median its 10-year median of 4.74 and 288.4% above the Industrial Products industry median of 2.32. Harmonic Drive Systems' overall GF Score™ is 69/100 with 10 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 Harmonic Drive Systems (HSYDF), the current PB Ratio is 9.01 as of Jun. 25, 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 Harmonic Drive Systems (HSYDF) Overvalued in 2026?
Based on GuruFocus' analysis, Harmonic Drive Systems stock appears to be overvalued.
The current stock price of $48.21 is trading 106.2% above its estimated GF Value™ of $23.38.
GuruFocus considers Harmonic Drive Systems to be Significantly Overvalued.
Key valuation signals for HSYDF:
PB Ratio: 9.01 (90% above median its 10-year median of 4.74)
GF Value™: $23.38 vs. price of $48.21 (106.2% above fair value)
Industry Position: 288.4% above the Industrial Products median (#2707 of 2986)
No single metric tells the full story. See the HSYDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harmonic Drive Systems manufactures and sells high-precision reduction gears (harmonic reducers) under the Harmonic Drive brand as well as other mechatronics products, including rotary actuators, linear actuators, and AC servo motors. The company also provides planetary gear speed reducers under the AccuDrive and Harmonic Planetary brands. Its products are used in industrial robots, semiconductor production equipment, and other high-precision equipment. HDS was founded in 1970 and is headquartered in Tokyo, Japan.
69GF Score
Get the complete analysis for HSYDF
PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
HSYDF has been successfully added to your 
