Taiwan Stock PER Band — where valuation sits in its own history
“Is it cheap or expensive right now?” The PER band places a stock's current valuation inside its own historical distribution — returning the percentile and z-score of PER / PBR / dividend yield. No calls, no price targets.
How to read the PER band
The band is about percentile: rank a stock's PER across its own history, and see which percentile today sits in. Low percentile = cheap vs. its own history; high = expensive. We also give a z-score (standard deviations from the historical mean).
Why own-history percentile beats cross-stock comparison
Fair PER differs wildly by sector — comparing a bank's PER to a semiconductor's is meaningless. Own-history percentile compares each stock to itself, answering the actually-useful question: is this expensive versus its own norm?
What we deliberately do not do
We do not issue target prices or verdicts of cheap and expensive. The denominator moves on its own: when earnings are collapsing, a falling P/E is the collapse, not a discount.
We also do not hard-code a single lookback window. Three-year and ten-year percentiles can point opposite ways, so the window is always returned with the value — the fact that the window changes the answer should be visible to you, not hidden by us.