An analyst has prepared a table of the average trailing 12-month price-to-earning (P/E), price-to-cash flow (P/CF), and price-to-sales (P/S) for the Tanaka Corporation for the years 2005 to 2008.

As of the date of the valuation in 2009, the trailing 12-month P/E, P/CF, and P/S are, respectively, 9.2, 8.0, and 2.5. Based on the information provided, the analyst may reasonably conclude that Tanaka shares are most likely:
A. Overvalued.
B. Undervalued.
C. Fairly valued.

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Year P/E P/CF P/S 2005 4.9 5.4 1.2 2006 6.1 8.6 1.5 22 2007 8.3 7.3 1.9 2008 9.2 7.9 2.3