The historical rank and industry rank for Azure Power Global's Cyclically Adjusted PS Ratio or its related term are showing as below:
AZREF's Cyclically Adjusted PS Ratio is not ranked *
in the Utilities - Independent Power Producers industry.
Industry Median: 1.715 * Ranked among companies with meaningful Cyclically Adjusted PS Ratio only.
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.
Azure Power Global's adjusted revenue per share data of for the fiscal year that ended in Mar24 was $4.000. 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 $4.74 for the trailing ten years ended in Mar24.
Shiller PE for Stocks: The True Measure of Stock Valuation
Azure Power Global (OTCPK:AZREF) 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.
Azure Power Global Cyclically Adjusted PS Ratio Related Terms
Azure Power Global Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Azure Power Global'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.
Azure Power Global Cyclically Adjusted PS Ratio Chart
AZREF vs SAFX, VGAS, STEM: Cyclically Adjusted PS Ratio Comparison
For the Utilities - Renewable subindustry, Azure Power Global'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.
Azure Power Global Cyclically Adjusted PS Ratio vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Azure Power Global's Cyclically Adjusted PS Ratio falls into.
Azure Power Global 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.
Azure Power Global'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 0.21 mean?
Azure Power Global (AZREF) has a Cyclically Adjusted PS Ratio of 0.21 as of Jul. 03, 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 Azure Power Global and its competitors.
Is Azure Power Global's Cyclically Adjusted PS Ratio too high?
Azure Power Global's current Cyclically Adjusted PS Ratio is 0.21. The Utilities - Independent Power Producers industry median Cyclically Adjusted PS Ratio is 1.72. Azure Power Global's value of 0.21 is 87.8% below this industry median. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's Cyclically Adjusted PS Ratio compare to SAFX and VGAS?
Azure Power Global's Cyclically Adjusted PS Ratio of 0.21 can be compared against companies in the Utilities - Independent Power Producers industry. The industry median Cyclically Adjusted PS Ratio is 1.72. Azure Power Global's value of 0.21 is 87.8% below this benchmark. 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 1.72, based on 270 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. Azure Power Global's current Cyclically Adjusted PS Ratio of 0.21 is 87.8% below 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 Azure Power Global and its competitors. For the Utilities - Independent Power Producers industry, the median Cyclically Adjusted PS Ratio is 1.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azure Power Global's current Cyclically Adjusted PS Ratio is 0.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current Cyclically Adjusted PS Ratio of 0.21. The current Cyclically Adjusted PS Ratio is 0.21 and 87.8% below the Utilities - Independent Power Producers industry median of 1.72. Azure Power Global's overall GF Score™ is 12/100. 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 Azure Power Global (AZREF), the current Cyclically Adjusted PS Ratio is 0.21 as of Jul. 03, 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.
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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