Star Petroleum Refining PCL (BKK:SPRC) 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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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:SPRC Star Petroleum Refining PCL BKK:SPRC
66 GF Score
Price ฿14.20
GF Value ฿7.03
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Star Petroleum Refining PCL Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Star Petroleum Refining PCL  (BKK:SPRC) 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.


Star Petroleum Refining PCL Cyclically Adjusted PS Ratio Related Terms


Star Petroleum Refining PCL Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Star Petroleum Refining 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.

Star Petroleum Refining PCL Cyclically Adjusted PS Ratio Chart

Star Petroleum Refining 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 0.19 0.20 0.16 0.12 0.11

Star Petroleum Refining PCL Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 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 0.09 0.09 0.11 0.13 0.13

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

For the Oil & Gas Refining & Marketing subindustry, Star Petroleum Refining 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.


Star Petroleum Refining PCL Cyclically Adjusted PS Ratio vs Oil & Gas Industry

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

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


BKK:SPRC
66GF Score
Star Petroleum Refining PCL BKK:SPRC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Star Petroleum Refining 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.

Star Petroleum Refining PCL's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Star Petroleum Refining 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)
=19.239/333.9520*333.9520
=19.239

Current CPI (Jun. 2026) = 333.9520.

Star Petroleum Refining PCL Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 8.982 241.428 12.424
201612 10.211 241.432 14.124
201703 10.251 243.801 14.042
201706 8.677 244.955 11.830
201709 9.794 246.819 13.252
201712 10.398 246.524 14.086
201803 11.363 249.554 15.206
201806 12.173 251.989 16.132
201809 11.912 252.439 15.758
201812 12.549 251.233 16.681
201903 10.923 254.202 14.350
201906 11.351 256.143 14.799
201909 10.213 256.759 13.283
201912 6.400 256.974 8.317
202003 9.081 258.115 11.749
202006 5.957 257.797 7.717
202009 7.437 260.280 9.542
202012 7.491 260.474 9.604
202103 8.520 264.877 10.742
202106 9.582 271.696 11.778
202109 9.500 274.310 11.566
202112 11.968 278.802 14.335
202203 15.084 287.504 17.521
202206 17.991 296.311 20.276
202209 17.562 296.808 19.760
202212 15.154 296.797 17.051
202303 15.272 301.836 16.897
202306 14.014 305.109 15.339
202309 15.492 307.789 16.809
202312 16.137 306.746 17.568
202403 16.288 312.332 17.415
202406 16.418 314.175 17.451
202409 14.934 315.301 15.817
202412 14.727 315.605 15.583
202503 14.829 319.799 15.485
202506 13.494 322.561 13.971
202509 14.206 324.800 14.606
202512 13.215 324.054 13.619
202603 11.990 330.213 12.126
202606 19.239 333.952 19.239

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 Star Petroleum Refining PCL (BKK:SPRC) Overvalued in 2026?

Based on GuruFocus' analysis, Star Petroleum Refining PCL stock appears to be overvalued. The current stock price of ฿14.20 is trading 102% above its estimated GF Value™ of ฿7.03. GuruFocus considers Star Petroleum Refining PCL to be Significantly Overvalued.

Key valuation signals for BKK:SPRC:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ฿7.03 vs. price of ฿14.20 (102% above fair value)
  • GF Score™: 66/100 with 5 warning signs

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


Star Petroleum Refining PCL Business Description

Industry EnergyOil & Gas
Other Exchanges SPRC-R:Thailand
Address No.1, I-3B Road, Tambol Map Ta Phut, Amphur Muang Rayong, Rayong, THA, 21150
Star Petroleum Refining PCL operates petroleum refinery in Thailand. The company produces multiple petroleum products such as Liquefied Petroleum Gas, gasoline, jet fuel, diesel, fuel oil, asphalt, and others. Geographically the majority of its sales are conducted in Thailand. However, the company also produces petroleum products for international markets.
66GF Score

Get the complete analysis for BKK:SPRC

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

฿14.20
Price
฿7.03
GF Value