Azul (AZUXY) Cyclically Adjusted PS Ratio: (As of Jul. 27, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

What is Azul Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Azul  (OTCPK:AZUXY) 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.


Azul Cyclically Adjusted PS Ratio Related Terms


Azul Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Azul'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.

Azul Cyclically Adjusted PS Ratio Chart

Azul Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.00

Azul Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.00 0.00 0.00 0.00 775,285.18

AZUXY vs DAL, UAL, LUV: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, Azul'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.


Azul Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Azul's Cyclically Adjusted PS Ratio distribution charts can be found below:

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



Azul 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.

Azul's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Azul's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=4.767/175.0655*175.0655
=4.767

Current CPI (Mar. 2026) = 175.0655.

Azul Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.656 108.851 4.272
201609 3.362 109.986 5.351
201612 3.419 110.802 5.402
201703 3.773 111.869 5.904
201706 3.282 112.115 5.125
201709 3.973 112.777 6.167
201712 4.099 114.068 6.291
201803 4.129 114.868 6.293
201806 3.304 117.038 4.942
201809 3.610 117.881 5.361
201812 3.875 118.340 5.732
201903 4.057 120.124 5.913
201906 4.156 120.977 6.014
201909 4.475 121.292 6.459
201912 4.814 123.436 6.828
202003 3.486 124.092 4.918
202006 0.470 123.557 0.666
202009 0.905 125.095 1.267
202012 2.035 129.012 2.761
202103 1.945 131.660 2.586
202106 2.030 133.871 2.655
202109 3.088 137.913 3.920
202112 3.958 141.992 4.880
202203 3.850 146.537 4.600
202206 4.639 149.784 5.422
202209 4.975 147.800 5.893
202212 5.065 150.207 5.903
202303 5.134 153.352 5.861
202306 5.234 154.519 5.930
202309 5.939 155.464 6.688
202312 5.973 157.148 6.654
202403 5.608 159.372 6.160
202406 4.625 161.052 5.027
202409 5.522 162.342 5.955
202412 5.419 164.740 5.759
202503 4.342 168.102 4.522
202506 1.990 169.670 2.053
202509 2.388 170.739 2.449
202512 2.278 171.765 2.322
202603 4.767 175.066 4.767

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.


Azul Business Description

Other Exchanges AZUL:USAAZUL3:Brazil
Address Avenida Marcos Penteado de Ulhoa Rodrigues, 939, Edificio Jatoba, 8th Floor, Castelo Branco Office Park, Tambore, Barueri, SP, BRA, 06460-040
Azul SA is involved in the operation of regular and non-regular airline passenger services, cargo or mail, passenger charter, provision of maintenance and hangarage services for aircraft, engines, parts and pieces, aircraft acquisition and lease, development of frequent-flyer programs, development of related activities, and equity holding in other companies. The company generates the majority of its revenue from Air transport and a small portion of its revenue from Ancillary revenues.