Vicinity Centres (ASX:VCX) Cyclically Adjusted PS Ratio: (As of Aug. 22, 2026)

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Director of Data and Quant Analytics at GuruFocus
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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.

ASX:VCX Vicinity Centres ASX:VCX
65 GF Score
Price A$2.62
GF Value A$1.90
Valuation Significantly Overvalued
! 9 Warning Signs
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What is Vicinity Centres Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Vicinity Centres  (ASX:VCX) 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.


Vicinity Centres Cyclically Adjusted PS Ratio Related Terms


Vicinity Centres Cyclically Adjusted PS Ratio Historical Data

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The historical data trend for Vicinity Centres'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.

Vicinity Centres Cyclically Adjusted PS Ratio Chart

Vicinity Centres Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.09 5.06 5.14 6.96 0.00

Vicinity Centres Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Cyclically Adjusted 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 5.14 0.00 6.96 0.00 0.00

ASX:VCX vs SPG, O, KIM: Cyclically Adjusted PS Ratio Comparison

For the REIT - Retail subindustry, Vicinity Centres'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.


Vicinity Centres Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Vicinity Centres's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Vicinity Centres's Cyclically Adjusted PS Ratio falls into.


ASX:VCX
65GF Score
Vicinity Centres ASX:VCX
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vicinity Centres 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.

Vicinity Centres's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Jun26 is calculated as:

For example, Vicinity Centres's adjusted Revenue per Share data for the fiscal year that ended in Jun26 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun26 (Change)*Current CPI (Jun26)
=0.295/136.4868*136.4868
=0.295

Current CPI (Jun26) = 136.4868.

Vicinity Centres Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201706 0.328 0.000
201806 0.341 0.000
201906 0.334 0.000
202006 0.318 0.000
202106 0.241 0.000
202206 0.259 0.000
202306 0.279 0.000
202406 0.289 0.000
202506 0.289 131.551 0.300
202606 0.295 136.487 0.295

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

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.

Is Vicinity Centres (ASX:VCX) Overvalued in 2026?

Based on GuruFocus' analysis, Vicinity Centres stock appears to be overvalued. The current stock price of A$2.62 is trading 37.9% above its estimated GF Value™ of A$1.90. GuruFocus considers Vicinity Centres to be Significantly Overvalued.

Key valuation signals for ASX:VCX:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: A$1.90 vs. price of A$2.62 (37.9% above fair value)
  • GF Score™: 65/100 with 9 warning signs

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


Vicinity Centres Business Description

Industry Real EstateREITs
Other Exchanges CNRAF:USA
Address 1341 Dandenong Road, Level 4, Chadstone Tower One, Chadstone, Melbourne, VIC, AUS, 3148
Vicinity Centres operates about 50 shopping malls in Australia. They include several iconic city centers, like Queen Victoria Building, The Strand Arcade and The Galeries in Sydney, which are frequented by tourists and office workers nearby. Melbourne's Chadstone, Vicinity's crown jewel, is Australia's largest and highest turnover shopping mall. Smaller regional and neighborhood centers, to which Vicinity is consciously trimming exposure, account for around 15% of the portfolio. Vast majority of Vicinity's income is derived from rents. The group also earns small management fees for managing properties and development projects on behalf of capital partners.
65GF Score

Get the complete analysis for ASX:VCX

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

A$2.62
Price
A$1.90
GF Value