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Mercury NZASX:MCY +0.35%86 Cyclically Adjusted PS Ratio is 3.67 as of Aug. 29, 2026, which is 4% below its 10-year median of 3.81. GuruFocus rates ASX:MCY with a GF Score™ of 86/100 and a GF Value™ of A$5.21 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 273 Utilities - Independent Power Producers companies, Mercury NZ ranks worse than 72.53% on this metric.
The historical rank and industry rank for Mercury NZ's Cyclically Adjusted PS Ratio or its related term are showing as below:
ASX:MCY'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 3.21 Med: 3.81 Max: 4.59
Current: 3.42
During the past 13 years, Mercury NZ's highest Cyclically Adjusted PS Ratio was 4.59. The lowest was 3.21. And the median was 3.81.
ASX:MCY's Cyclically Adjusted PS Ratio is ranked worse than 72.53% of 273
companies
in the Utilities - Independent Power Producers industry
Industry Median: 1.69
vs ASX:MCY: 3.42
The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.
Mercury NZ's adjusted revenue per share data of for the fiscal year that ended in Jun26 was A$1.871. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is A$1.56 for the trailing ten years ended in Jun26.
Shiller PE for Stocks: The True Measure of Stock Valuation
Mercury NZ (ASX:MCY) Cyclically Adjusted PS Ratio Explanation
Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.
If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.
Mercury NZ Cyclically Adjusted PS Ratio Related Terms
Mercury NZ Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Mercury NZ's Cyclically Adjusted 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.
Mercury NZ Cyclically Adjusted PS Ratio Competitor Comparison
For the Utilities - Renewable subindustry, Mercury NZ's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted 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.
Mercury NZ Cyclically Adjusted PS Ratio vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Mercury NZ's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Mercury NZ's Cyclically Adjusted PS Ratio falls into.
Mercury NZ Cyclically Adjusted PS Ratio Calculation
Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.
The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.
Mercury NZ's Cyclically Adjusted PS Ratio for today is calculated as
* 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.
Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.
What does a Cyclically Adjusted PS Ratio of 3.67 mean?
Mercury NZ (ASX:MCY) has a Cyclically Adjusted PS Ratio of 3.67 as of Aug. 29, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Mercury NZ and its competitors. This is near median its historical median of 3.81. Over the past decade, Mercury NZ's Cyclically Adjusted PS Ratio has ranged from 3.21 to 4.59. According to the industry distribution chart, Mercury NZ ranks #198 out of 273 companies in the Utilities - Independent Power Producers industry, placing it in the top 72.5%.
Is Mercury NZ's Cyclically Adjusted PS Ratio too high?
Mercury NZ's current Cyclically Adjusted PS Ratio of 3.67 is near median its 10-year median of 3.81. Over the past 10 years, this metric has ranged from a low of 3.21 to a high of 4.59. The Utilities - Independent Power Producers industry median Cyclically Adjusted PS Ratio is 1.69. Mercury NZ's value of 3.67 is 117.2% above this industry median. Based on the distribution chart, Mercury NZ ranks #198 out of 273 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Mercury NZ has a GF Score™ of 86/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mercury NZ's Cyclically Adjusted PS Ratio compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Mercury NZ ranks #198 out of 273 companies for Cyclically Adjusted PS Ratio. This places Mercury NZ in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.69. Mercury NZ's value of 3.67 is 117.2% above this benchmark. Historically, Mercury NZ's own Cyclically Adjusted PS Ratio has ranged from 3.21 to 4.59 over the past decade. While the company's 10-year median is 3.81 vs. the industry median of 1.69, Mercury NZ 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 Cyclically Adjusted PS Ratio for an Utilities - Independent Power Producers company?
The median Cyclically Adjusted PS Ratio among Utilities - Independent Power Producers companies is 1.69, based on 273 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mercury NZ's current Cyclically Adjusted PS Ratio of 3.67 is 117.2% 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 Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Mercury NZ and its competitors. For the Utilities - Independent Power Producers industry, the median Cyclically Adjusted PS Ratio is 1.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mercury NZ's current Cyclically Adjusted PS Ratio is 3.67, which is near median its own 10-year median of 3.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mercury NZ stock overvalued right now?
Based on GuruFocus' analysis, Mercury NZ (ASX:MCY) is currently considered Modestly Overvalued. The stock's GF Value™ is A$5.21, compared to a current price of A$5.73 — trading 10% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.67, which is near median its 10-year median of 3.81 and 117.2% above the Utilities - Independent Power Producers industry median of 1.69. Mercury NZ's overall GF Score™ is 86/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Mercury NZ (ASX:MCY), the current Cyclically Adjusted PS Ratio is 3.67 as of Aug. 29, 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 Mercury NZ (ASX:MCY) Overvalued in 2026?
Based on GuruFocus' analysis, Mercury NZ stock appears to be overvalued.
The current stock price of A$5.73 is trading 10% above its estimated GF Value™ of A$5.21.
GuruFocus considers Mercury NZ to be Modestly Overvalued.
Key valuation signals for ASX:MCY:
Cyclically Adjusted PS Ratio: 3.67 (near median its 10-year median of 3.81)
GF Value™: A$5.21 vs. price of A$5.73 (10% above fair value)
Industry Position: 117.2% above the Utilities - Independent Power Producers median (#198 of 273)
No single metric tells the full story. See the ASX:MCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mercury NZ (formerly Mighty River Power) generates more than 15% of New Zealand's electricity and is one of the four major electricity generators and suppliers in the country. All electricity is generated from renewable sources, which makes it one of the lowest-cost providers of electricity. The company operates nine hydro stations and five geothermal power plants in the North Island and some wind farms. Mercury sells electricity to residential and commercial customers and has the largest share of the key Auckland market.
86GF Score
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