The Why How Do Co (TSE:3823) PS Ratio: 2.22 (As of Sep. 16, 2026) — 41% Below Median

Author: Vera Yuan Vera Yuan
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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.
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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:3823 The Why How Do Co Inc TSE:3823
48 GF Score
Price 円52.00
GF Value 円66.24
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is The Why How Do Co PS Ratio?

The Why How Do Co TSE:3823 -1.89% 48 PS Ratio is 2.22 as of Sep. 16, 2026, which is 41% below its 10-year median of 3.74. GuruFocus rates TSE:3823 with a GF Score™ of 48/100 and a GF Value™ of 円66.24 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 2,789 Software companies, The Why How Do Co ranks worse than 54.46% on this metric.

The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. As of today, The Why How Do Co's share price is 円52.00. The Why How Do Co's Revenue per Share for the trailing twelve months (TTM) ended in May. 2025 was 円23.40. Hence, The Why How Do Co's PS Ratio for today is 2.22.

Good Sign:

The Why How Do Co Inc stock PS Ratio (=1.32) is close to 10-year low of 1.2.

The historical rank and industry rank for The Why How Do Co's PS Ratio or its related term are showing as below:

TSE:3823' s PS Ratio Range Over the Past 10 Years
Min: 1.2   Med: 3.74   Max: 35.15
Current: 2.21

During the past 13 years, The Why How Do Co's highest PS Ratio was 35.15. The lowest was 1.20. And the median was 3.74.

TSE:3823's PS Ratio is ranked worse than
54.46% of 2789 companies
in the Software industry
Industry Median: 1.92 vs TSE:3823: 2.21

The Why How Do Co's Revenue per Sharefor the three months ended in May. 2025 was 円4.48. Its Revenue per Share for the trailing twelve months (TTM) ended in May. 2025 was 円23.40.

Warning Sign:

The Why How Do Co Inc revenue per share has been in decline for the last 5 years.

During the past 12 months, the average Revenue per Share Growth Rate of The Why How Do Co was 167.80% per year. During the past 3 years, the average Revenue per Share Growth Rate was -24.20% per year. During the past 5 years, the average Revenue per Share Growth Rate was -23.50% per year. During the past 10 years, the average Revenue per Share Growth Rate was -23.10% per year.

During the past 13 years, The Why How Do Co's highest 3-Year average Revenue per Share Growth Rate was 10.50% per year. The lowest was -34.00% per year. And the median was -20.45% per year.

Back to Basics: PS Ratio


The Why How Do Co  (TSE:3823) PS Ratio Explanation

The PS Ratio is an excellent valuation indicator if you want to compare a stock with its historical valuation or with the stocks in the same industry. The PS Ratio works especially well when you want to compare the stock's current valuation with its historical valuation. The PS Ratio is a great valuation tool for evaluating cyclical businesses where the PE Ratio works poorly. It works the best when comparing the current valuation with the historical valuation because over time, a company's profit margin tends to revert to the mean.

When the PS Ratio is applied to the whole stock market, it can be used to evaluate the current market valuation and projected returns. In this case, the price is the total market cap of all stocks that are traded, and sales are the GDP of the country. This is how Warren Buffett estimates the broad market valuation and project future returns.

Similar to the PE Ratio or Price-to-Operating-Cash-Flow or Price-to-Free-Cash-Flow , the PS Ratio measures the valuation based on the earning power of the company. This is where it is different from the PB Ratio , which measures the valuation based on the company's balance sheet.


Be Aware

The PS Ratio does not tell you how cheap or expensive the stock is. It cannot be used to compare companies in different industries. It works better for companies within the same industry because these companies tend to have similar capital structures and profit margins. It works the best when comparing a company with itself in the past.


The Why How Do Co PS Ratio Related Terms


The Why How Do Co PS Ratio Historical Data

* Premium members only.

The historical data trend for The Why How Do Co's 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.

The Why How Do Co PS Ratio Chart

The Why How Do Co Annual Data
Trend Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24
PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.97 6.07 5.23 3.35 2.34

The Why How Do Co Quarterly Data
May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Feb25 May25
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 1.85 2.25 2.12 5.64 7.39

TSE:3823 vs CRM, SHOP, UBER: PS Ratio Comparison

For the Software - Application subindustry, The Why How Do Co's PS Ratio, along with its competitors' market caps and 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.


The Why How Do Co PS Ratio vs Software Industry

For the Software industry and Technology sector, The Why How Do Co's PS Ratio distribution charts can be found below:

* The bar in red indicates where The Why How Do Co's PS Ratio falls into.


TSE:3823
48GF Score
The Why How Do Co Inc TSE:3823
PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The Why How Do Co PS Ratio Calculation

The PS Ratio, or Price-to-Sales ratio, or Price/Sales, is a financial ratio used to compare a company's market price to its Revenue per Share. It is a ratio widely used to value stocks and it was first used by Ken Fisher.

The Why How Do Co's PS Ratio for today is calculated as

PS Ratio=Share Price/Revenue per Share (TTM)
=52.00/23.402
=2.22

The Why How Do Co's Share Price of today is 円52.00.
The Why How Do Co's Revenue per Share for the trailing twelve months (TTM) ended in May. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was 円23.40.

* 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:

PS Ratio=Market Cap/Revenue

The Revenue here is for the trailing 12 months.

Frequently Asked Questions Learn more about PS Ratio →
What does a PS Ratio of 2.22 mean?
The Why How Do Co (TSE:3823) has a PS Ratio of 2.22 as of Sep. 16, 2026. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on The Why How Do Co and its competitors. This is 41% below median its historical median of 3.74. Over the past decade, The Why How Do Co's PS Ratio has ranged from 1.20 to 35.15. According to the industry distribution chart, The Why How Do Co ranks #1519 out of 2789 companies in the Software industry, placing it in the top 54.5%.
Is The Why How Do Co's PS Ratio too high?
The Why How Do Co's current PS Ratio of 2.22 is 41% below median its 10-year median of 3.74. Over the past 10 years, this metric has ranged from a low of 1.20 to a high of 35.15. The Software industry median PS Ratio is 1.92. The Why How Do Co's value of 2.22 is 15.6% above this industry median. Based on the distribution chart, The Why How Do Co ranks #1519 out of 2789 companies in the Software industry, which is below the industry midpoint. Overall, The Why How Do Co has a GF Score™ of 48/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does The Why How Do Co's PS Ratio compare to CRM and SHOP?
According to the Software industry distribution chart, The Why How Do Co ranks #1519 out of 2789 companies for PS Ratio. This places The Why How Do Co in the lower half of its industry. The industry median PS Ratio is 1.92. The Why How Do Co's value of 2.22 is 15.6% above this benchmark. Historically, The Why How Do Co's own PS Ratio has ranged from 1.20 to 35.15 over the past decade. While the company's 10-year median is 3.74 vs. the industry median of 1.92, The Why How Do Co 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 PS Ratio for a Software company?
The median PS Ratio among Software companies is 1.92, based on 2,789 companies in the industry. Companies in the top quartile (top 25%) have a PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. The Why How Do Co's current PS Ratio of 2.22 is 15.6% 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 PS Ratio mean?
A high PS Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Sales ratio is the ratio of share price to a company's revenue per share. View historical data on The Why How Do Co and its competitors. For the Software industry, the median PS Ratio is 1.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Why How Do Co's current PS Ratio is 2.22, which is 41% below median its own 10-year median of 3.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Why How Do Co stock overvalued right now?
Based on GuruFocus' analysis, The Why How Do Co (TSE:3823) is currently considered Modestly Undervalued. The stock's GF Value™ is 円66.24, compared to a current price of 円52.00 — trading 21.5% below its estimated fair value. The current PS Ratio is 2.22, which is 41% below median its 10-year median of 3.74 and 15.6% above the Software industry median of 1.92. The Why How Do Co's overall GF Score™ is 48/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PS Ratio calculated?
PS Ratio is calculated from a company's financial statements. For The Why How Do Co (TSE:3823), the current PS Ratio is 2.22 as of Sep. 16, 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 The Why How Do Co (TSE:3823) Overvalued in 2026?

Based on GuruFocus' analysis, The Why How Do Co stock appears to be undervalued. The current stock price of 円52.00 is trading 21.5% below its estimated GF Value™ of 円66.24. GuruFocus considers The Why How Do Co to be Modestly Undervalued.

Key valuation signals for TSE:3823:

  • PS Ratio: 2.22 (41% below median its 10-year median of 3.74)
  • GF Value™: 円66.24 vs. price of 円52.00 (21.5% below fair value)
  • GF Score™: 48/100 with 5 warning signs
  • Industry Position: 15.6% above the Software median (#1519 of 2789)

No single metric tells the full story. See the TSE:3823 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


The Why How Do Co Business Description

Address 22 Aizumi-cho, Daisan Yamada Building, Shinjuku-ku, Tokyo, JPN, 160-0005
The Why How Do Co Inc formerly Acrodea Inc is a software company. It is mainly engaged in the development of platform services for smartphones and IoT related solutions. In addition, the company provides social game and application related development and services.
48GF Score

Get the complete analysis for TSE:3823

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

円52.00
Price
円66.24
GF Value