Lighting & Equipment PCL (BKK:L&E) Cyclically Adjusted PS Ratio: (As of Sep. 21, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
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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:L&E Lighting & Equipment PCL BKK:L&E
66 GF Score
Price ฿1.03
GF Value ฿1.09
Valuation Fairly Valued
! 5 Warning Signs
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What is Lighting & Equipment PCL Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lighting & Equipment PCL  (BKK:L&E) 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.


Lighting & Equipment PCL Cyclically Adjusted PS Ratio Related Terms


Lighting & Equipment PCL Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Lighting & Equipment 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.

Lighting & Equipment PCL Cyclically Adjusted PS Ratio Chart

Lighting & Equipment 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 0.31 0.29 0.19 0.18 0.18

Lighting & Equipment PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 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 0.18 0.18 0.16 0.18 0.17

BKK:L&E vs VRT, BE: Cyclically Adjusted PS Ratio Comparison

For the Electrical Equipment & Parts subindustry, Lighting & Equipment 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.


Lighting & Equipment PCL Cyclically Adjusted PS Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Lighting & Equipment PCL's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


BKK:L&E
66GF Score
Lighting & Equipment PCL BKK:L&E
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Lighting & Equipment 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.

Lighting & Equipment PCL's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Lighting & Equipment PCL's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.136/333.9520*333.9520
=1.136

Current CPI (Jun. 2026) = 333.9520.

Lighting & Equipment PCL Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 1.379 241.018 1.911
201609 1.601 241.428 2.215
201612 1.834 241.432 2.537
201703 1.169 243.801 1.601
201706 1.257 244.955 1.714
201709 1.372 246.819 1.856
201712 1.531 246.524 2.074
201803 1.273 249.554 1.704
201806 1.391 251.989 1.843
201809 1.477 252.439 1.954
201812 1.800 251.233 2.393
201903 1.215 254.202 1.596
201906 1.114 256.143 1.452
201909 1.454 256.759 1.891
201912 1.722 256.974 2.238
202003 1.155 258.115 1.494
202006 0.986 257.797 1.277
202009 1.447 260.280 1.857
202012 1.315 260.474 1.686
202103 1.128 264.877 1.422
202106 1.278 271.696 1.571
202109 1.350 274.310 1.644
202112 1.686 278.802 2.020
202203 1.634 287.504 1.898
202206 1.678 296.311 1.891
202209 1.598 296.808 1.798
202212 1.634 296.797 1.839
202303 1.338 301.836 1.480
202306 1.292 305.109 1.414
202309 1.387 307.789 1.505
202312 1.565 306.746 1.704
202403 1.127 312.332 1.205
202406 1.174 314.175 1.248
202409 1.463 315.301 1.550
202412 1.644 315.605 1.740
202503 1.045 319.799 1.091
202506 1.137 322.561 1.177
202509 1.373 324.800 1.412
202512 1.561 324.054 1.609
202606 1.136 333.952 1.136

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 Lighting & Equipment PCL (BKK:L&E) Overvalued in 2026?

Based on GuruFocus' analysis, Lighting & Equipment PCL stock appears to be undervalued. The current stock price of ฿1.03 is trading 5.5% below its estimated GF Value™ of ฿1.09. GuruFocus considers Lighting & Equipment PCL to be Fairly Valued.

Key valuation signals for BKK:L&E:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ฿1.09 vs. price of ฿1.03 (5.5% below fair value)
  • GF Score™: 66/100 with 5 warning signs

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


Lighting & Equipment PCL Business Description

Other Exchanges L&E-R:Thailand
Address Sri-Ayudhya Road, 539/2, 16-17 Floor, Gypsum Metropolitan Tower, Rajthevee, Bangkok, THA, 10400
Lighting & Equipment PCL is engaged in trading lighting fixtures, lamps, electrical equipment, and installation service and design of electric and lighting systems. Its other products include cable turning systems, light-emitting diodes (LEDs), light boxes, lighting control equipment, lighting poles, luminaries, optical fiber lighting, and others. These products are sold through two main channels, project and retail. The company operates in a single line of business, namely the lighting business in Thailand.
66GF Score

Get the complete analysis for BKK:L&E

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

฿1.03
Price
฿1.09
GF Value