MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) Cyclically Adjusted PS Ratio: 6.85 (As of Jul. 16, 2026) — 26% Above 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:MII MFC Industrial Investment Freehold and Leasehold REIT BKK:MII
65 GF Score
Price ฿6.30
GF Value ฿6.21
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is MFC Industrial Investment Freehold and Leasehold REIT Cyclically Adjusted PS Ratio?

MFC Industrial Investment Freehold and Leasehold REIT BKK:MII +0.80% 65 Cyclically Adjusted PS Ratio is 6.85 as of Jul. 16, 2026, which is 26% above its 10-year median of 5.43. GuruFocus rates BKK:MII with a GF Score™ of 65/100 and a GF Value™ of ฿6.21 (Fairly Valued). The stock has 6 warning signs investors should review. Among 554 REITs companies, MFC Industrial Investment Freehold and Leasehold REIT ranks worse than 55.6% on this metric.

As of today (2026-07-16), MFC Industrial Investment Freehold and Leasehold REIT's current share price is ฿6.30. MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was ฿0.92. MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio for today is 6.85.

The historical rank and industry rank for MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio or its related term are showing as below:

BKK:MII' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 4.81   Med: 5.43   Max: 6.58
Current: 6.55

During the past years, MFC Industrial Investment Freehold and Leasehold REIT's highest Cyclically Adjusted PS Ratio was 6.58. The lowest was 4.81. And the median was 5.43.

BKK:MII's Cyclically Adjusted PS Ratio is ranked worse than
55.6% of 554 companies
in the REITs industry
Industry Median: 5.91 vs BKK:MII: 6.55

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.

MFC Industrial Investment Freehold and Leasehold REIT's adjusted revenue per share data for the three months ended in Mar. 2026 was ฿0.216. 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 ฿0.92 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


MFC Industrial Investment Freehold and Leasehold REIT  (BKK:MII) 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.


MFC Industrial Investment Freehold and Leasehold REIT Cyclically Adjusted PS Ratio Related Terms


MFC Industrial Investment Freehold and Leasehold REIT Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for MFC Industrial Investment Freehold and Leasehold REIT'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.

MFC Industrial Investment Freehold and Leasehold REIT Cyclically Adjusted PS Ratio Chart

MFC Industrial Investment Freehold and Leasehold REIT 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 4.89

MFC Industrial Investment Freehold and Leasehold REIT 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 6.08 5.46 5.27 4.89 5.35

BKK:MII vs VICI, WPC, BNL: Cyclically Adjusted PS Ratio Comparison

For the REIT - Diversified subindustry, MFC Industrial Investment Freehold and Leasehold REIT'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.


MFC Industrial Investment Freehold and Leasehold REIT Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio falls into.


BKK:MII
65GF Score
MFC Industrial Investment Freehold and Leasehold REIT BKK:MII
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

MFC Industrial Investment Freehold and Leasehold REIT 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.

MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=6.30/0.92
=6.85

* 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.

MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, MFC Industrial Investment Freehold and Leasehold REIT'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)
=0.216/330.2130*330.2130
=0.216

Current CPI (Mar. 2026) = 330.2130.

MFC Industrial Investment Freehold and Leasehold REIT Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201506 0.000 238.638 0.000
201512 0.000 236.525 0.000
201606 0.000 241.018 0.000
201612 0.000 241.432 0.000
201706 0.000 244.955 0.000
201709 0.171 246.819 0.229
201712 0.179 246.524 0.240
201803 0.190 249.554 0.251
201806 0.186 251.989 0.244
201809 0.182 252.439 0.238
201812 0.182 251.233 0.239
201903 0.192 254.202 0.249
201906 0.192 256.143 0.248
201909 0.188 256.759 0.242
201912 0.188 256.974 0.242
202003 0.187 258.115 0.239
202006 0.186 257.797 0.238
202009 0.189 260.280 0.240
202012 0.197 260.474 0.250
202103 0.191 264.877 0.238
202106 0.193 271.696 0.235
202109 0.187 274.310 0.225
202112 0.187 278.802 0.221
202203 0.188 287.504 0.216
202206 0.195 296.311 0.217
202209 0.202 296.808 0.225
202212 0.203 296.797 0.226
202303 0.203 301.836 0.222
202306 0.207 305.109 0.224
202309 0.219 307.789 0.235
202312 0.215 306.746 0.231
202403 0.217 312.332 0.229
202406 0.218 314.175 0.229
202409 0.218 315.301 0.228
202412 0.000 315.605 0.000
202503 0.209 319.799 0.216
202506 0.200 322.561 0.205
202509 0.198 324.800 0.201
202512 0.215 324.054 0.219
202603 0.216 330.213 0.216

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 6.85 mean?
MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) has a Cyclically Adjusted PS Ratio of 6.85 as of Jul. 16, 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 MFC Industrial Investment Freehold and Leasehold REIT and its competitors. This is 26% above median its historical median of 5.43. Over the past decade, MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio has ranged from 4.81 to 6.58. According to the industry distribution chart, MFC Industrial Investment Freehold and Leasehold REIT ranks #308 out of 554 companies in the REITs industry, placing it in the top 55.6%.
Is MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio too high?
MFC Industrial Investment Freehold and Leasehold REIT's current Cyclically Adjusted PS Ratio of 6.85 is 26% above median its 10-year median of 5.43. Over the past 10 years, this metric has ranged from a low of 4.81 to a high of 6.58. The REITs industry median Cyclically Adjusted PS Ratio is 5.91. MFC Industrial Investment Freehold and Leasehold REIT's value of 6.85 is 15.9% above this industry median. Based on the distribution chart, MFC Industrial Investment Freehold and Leasehold REIT ranks #308 out of 554 companies in the REITs industry, which is below the industry midpoint. Overall, MFC Industrial Investment Freehold and Leasehold REIT has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does MFC Industrial Investment Freehold and Leasehold REIT's Cyclically Adjusted PS Ratio compare to VICI and WPC?
According to the REITs industry distribution chart, MFC Industrial Investment Freehold and Leasehold REIT ranks #308 out of 554 companies for Cyclically Adjusted PS Ratio. This places MFC Industrial Investment Freehold and Leasehold REIT in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 5.91. MFC Industrial Investment Freehold and Leasehold REIT's value of 6.85 is 15.9% above this benchmark. Historically, MFC Industrial Investment Freehold and Leasehold REIT's own Cyclically Adjusted PS Ratio has ranged from 4.81 to 6.58 over the past decade. While the company's 10-year median is 5.43 vs. the industry median of 5.91, MFC Industrial Investment Freehold and Leasehold REIT has consistently been above 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 a REITs company?
The median Cyclically Adjusted PS Ratio among REITs companies is 5.91, based on 554 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. MFC Industrial Investment Freehold and Leasehold REIT's current Cyclically Adjusted PS Ratio of 6.85 is 15.9% above 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 MFC Industrial Investment Freehold and Leasehold REIT and its competitors. For the REITs industry, the median Cyclically Adjusted PS Ratio is 5.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. MFC Industrial Investment Freehold and Leasehold REIT's current Cyclically Adjusted PS Ratio is 6.85, which is 26% above median its own 10-year median of 5.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is MFC Industrial Investment Freehold and Leasehold REIT stock overvalued right now?
Based on GuruFocus' analysis, MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) is currently considered Fairly Valued. The stock's GF Value™ is ฿6.21, compared to a current price of ฿6.30 — trading 1.4% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 6.85, which is 26% above median its 10-year median of 5.43 and 15.9% above the REITs industry median of 5.91. MFC Industrial Investment Freehold and Leasehold REIT's overall GF Score™ is 65/100 with 6 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 MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII), the current Cyclically Adjusted PS Ratio is 6.85 as of Jul. 16, 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 MFC Industrial Investment Freehold and Leasehold REIT (BKK:MII) Overvalued in 2026?

Based on GuruFocus' analysis, MFC Industrial Investment Freehold and Leasehold REIT stock appears to be overvalued. The current stock price of ฿6.30 is trading 1.4% above its estimated GF Value™ of ฿6.21. GuruFocus considers MFC Industrial Investment Freehold and Leasehold REIT to be Fairly Valued.

Key valuation signals for BKK:MII:

  • Cyclically Adjusted PS Ratio: 6.85 (26% above median its 10-year median of 5.43)
  • GF Value™: ฿6.21 vs. price of ฿6.30 (1.4% above fair value)
  • GF Score™: 65/100 with 6 warning signs
  • Industry Position: 15.9% above the REITs median (#308 of 554)

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


MFC Industrial Investment Freehold and Leasehold REIT Business Description

Industry Real EstateREITs
Other Exchanges MII-F:Thailand
Address Wireless Road, 195 One Bangkok Tower 4, 16th-17th Floor, Lumpini, Pathumwan, Bangkok, THA, 10330
MFC Industrial Investment Freehold and Leasehold REIT is a close-ended property fund with no maturity date. Its objective of supporting the conversion from a Fund and to raise funds to invest in real estate or accept the transfer of leasehold rights to real estate, sub-leasehold rights to real estate, including movable properties and equipment related to operations and to generate benefits from real estate. The Trust has operated under one geographical activity for segment information which is the rental of properties in Thailand.
65GF Score

Get the complete analysis for BKK:MII

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

฿6.30
Price
฿6.21
GF Value