IRPC PCL (BKK:IRPC) Cyclically Adjusted PS Ratio: 0.14 (As of Jul. 20, 2026) — 33% Below Median

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.

BKK:IRPC IRPC PCL BKK:IRPC
57 GF Score
Price ฿2.16
GF Value ฿1.46
Valuation Significantly Overvalued
! 9 Warning Signs
View Full Analysis

What is IRPC PCL Cyclically Adjusted PS Ratio?

IRPC PCL BKK:IRPC +0.93% 57 Cyclically Adjusted PS Ratio is 0.14 as of Jul. 20, 2026, which is 33% below its 10-year median of 0.21. GuruFocus rates BKK:IRPC with a GF Score™ of 57/100 and a GF Value™ of ฿1.46 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 707 Oil & Gas companies, IRPC PCL ranks better than 90.24% on this metric.

As of today (2026-07-20), IRPC PCL's current share price is ฿2.16. IRPC PCL's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was ฿15.23. IRPC PCL's Cyclically Adjusted PS Ratio for today is 0.14.

The historical rank and industry rank for IRPC PCL's Cyclically Adjusted PS Ratio or its related term are showing as below:

BKK:IRPC' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.05   Med: 0.21   Max: 0.64
Current: 0.14

During the past years, IRPC PCL's highest Cyclically Adjusted PS Ratio was 0.64. The lowest was 0.05. And the median was 0.21.

BKK:IRPC's Cyclically Adjusted PS Ratio is ranked better than
90.24% of 707 companies
in the Oil & Gas industry
Industry Median: 1.04 vs BKK:IRPC: 0.14

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.

IRPC PCL's adjusted revenue per share data for the three months ended in Mar. 2026 was ฿3.799. 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 ฿15.23 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


IRPC PCL  (BKK:IRPC) 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.


IRPC PCL Cyclically Adjusted PS Ratio Related Terms


IRPC PCL Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for IRPC PCL'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.

IRPC PCL Cyclically Adjusted PS Ratio Chart

IRPC PCL 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 0.28 0.21 0.14 0.08 0.07

IRPC PCL 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 0.06 0.05 0.08 0.07 0.13

BKK:IRPC vs VLO, MPC, PSX: Cyclically Adjusted PS Ratio Comparison

For the Oil & Gas Refining & Marketing subindustry, IRPC PCL'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.


IRPC PCL Cyclically Adjusted PS Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, IRPC PCL's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


BKK:IRPC
57GF Score
IRPC PCL BKK:IRPC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

IRPC PCL 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.

IRPC PCL's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=2.16/15.23
=0.14

* 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.

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

For example, IRPC PCL'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)
=3.799/330.2130*330.2130
=3.799

Current CPI (Mar. 2026) = 330.2130.

IRPC PCL Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.189 241.018 2.999
201609 2.097 241.428 2.868
201612 2.413 241.432 3.300
201703 2.026 243.801 2.744
201706 2.665 244.955 3.593
201709 2.795 246.819 3.739
201712 3.081 246.524 4.127
201803 3.122 249.554 4.131
201806 3.502 251.989 4.589
201809 3.748 252.439 4.903
201812 3.388 251.233 4.453
201903 3.905 254.202 5.073
201906 2.514 256.143 3.241
201909 2.732 256.759 3.514
201912 2.732 256.974 3.511
202003 2.417 258.115 3.092
202006 1.729 257.797 2.215
202009 2.228 260.280 2.827
202012 2.288 260.474 2.901
202103 2.595 264.877 3.235
202106 2.982 271.696 3.624
202109 3.421 274.310 4.118
202112 3.549 278.802 4.203
202203 3.704 287.504 4.254
202206 4.905 296.311 5.466
202209 4.209 296.808 4.683
202212 2.596 296.797 2.888
202303 3.990 301.836 4.365
202306 3.767 305.109 4.077
202309 4.018 307.789 4.311
202312 3.873 306.746 4.169
202403 4.110 312.332 4.345
202406 4.459 314.175 4.687
202409 3.921 315.301 4.106
202412 3.577 315.605 3.743
202503 3.625 319.799 3.743
202506 3.218 322.561 3.294
202509 4.138 324.800 4.207
202512 3.108 324.054 3.167
202603 3.799 330.213 3.799

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.

What does a Cyclically Adjusted PS Ratio of 0.14 mean?
IRPC PCL (BKK:IRPC) has a Cyclically Adjusted PS Ratio of 0.14 as of Jul. 20, 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 IRPC PCL and its competitors. This is 33% below median its historical median of 0.21. Over the past decade, IRPC PCL's Cyclically Adjusted PS Ratio has ranged from 0.05 to 0.64. According to the industry distribution chart, IRPC PCL ranks #69 out of 707 companies in the Oil & Gas industry, placing it in the top 9.8%.
Is IRPC PCL's Cyclically Adjusted PS Ratio too high?
IRPC PCL's current Cyclically Adjusted PS Ratio of 0.14 is 33% below median its 10-year median of 0.21. Over the past 10 years, this metric has ranged from a low of 0.05 to a high of 0.64. The Oil & Gas industry median Cyclically Adjusted PS Ratio is 1.04. IRPC PCL's value of 0.14 is 86.5% below this industry median. Based on the distribution chart, IRPC PCL ranks #69 out of 707 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, IRPC PCL has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does IRPC PCL's Cyclically Adjusted PS Ratio compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, IRPC PCL ranks #69 out of 707 companies for Cyclically Adjusted PS Ratio. This places IRPC PCL in the top 10% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 1.04. IRPC PCL's value of 0.14 is 86.5% below this benchmark. Historically, IRPC PCL's own Cyclically Adjusted PS Ratio has ranged from 0.05 to 0.64 over the past decade. While the company's 10-year median is 0.21 vs. the industry median of 1.04, IRPC PCL has consistently been below 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 Oil & Gas company?
The median Cyclically Adjusted PS Ratio among Oil & Gas companies is 1.04, based on 707 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. IRPC PCL's current Cyclically Adjusted PS Ratio of 0.14 is 86.5% 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 IRPC PCL and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PS Ratio is 1.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. IRPC PCL's current Cyclically Adjusted PS Ratio is 0.14, which is 33% below median its own 10-year median of 0.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IRPC PCL stock overvalued right now?
Based on GuruFocus' analysis, IRPC PCL (BKK:IRPC) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿1.46, compared to a current price of ฿2.16 — trading 47.9% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.14, which is 33% below median its 10-year median of 0.21 and 86.5% below the Oil & Gas industry median of 1.04. IRPC PCL's overall GF Score™ is 57/100 with 9 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 IRPC PCL (BKK:IRPC), the current Cyclically Adjusted PS Ratio is 0.14 as of Jul. 20, 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 IRPC PCL (BKK:IRPC) Overvalued in 2026?

Based on GuruFocus' analysis, IRPC PCL stock appears to be overvalued. The current stock price of ฿2.16 is trading 47.9% above its estimated GF Value™ of ฿1.46. GuruFocus considers IRPC PCL to be Significantly Overvalued.

Key valuation signals for BKK:IRPC:

  • Cyclically Adjusted PS Ratio: 0.14 (33% below median its 10-year median of 0.21)
  • GF Value™: ฿1.46 vs. price of ฿2.16 (47.9% above fair value)
  • GF Score™: 57/100 with 9 warning signs
  • Industry Position: 86.5% below the Oil & Gas median (#69 of 707)

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


IRPC PCL Business Description

Industry EnergyOil & Gas
Address Vibhavadi Rangsit Road, No. 555/2, Energy Complex, Building B, 6th Floor, Chatuchak, Bangkok, THA, 10900
IRPC PCL is a Thailand-based company. The Company is principally engaged in the petroleum and petrochemical business, with its products being refinery, lubricant, olefins, aromatics, plastic resins, and other petrochemical products. The company operates in three reportable segments: the Petroleum products segment, which produces and sells refinery, lubricant, and asphalt; the petrochemical products segment, which produces and sells olefins, aromatics, and related products, including special products; and Other business segments, includes divisions related to the Power plant, jetty, and other utilities. The majority of its revenue is derived from the Petroleum products segment. The Company operates its sales in Thailand, Singapore, and Others.
57GF Score

Get the complete analysis for BKK:IRPC

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

฿2.16
Price
฿1.46
GF Value