Firstsource Solutions (BOM:532809) Cyclically Adjusted PS Ratio: 2.69 (As of Aug. 19, 2026) — 22% Above Median

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BOM:532809 Firstsource Solutions Ltd BOM:532809
90 GF Score
Price ₹263.90
GF Value ₹385.14
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Firstsource Solutions Cyclically Adjusted PS Ratio?

Firstsource Solutions BOM:532809 -1.36% 90 Cyclically Adjusted PS Ratio is 2.69 as of Aug. 19, 2026, which is 22% above its 10-year median of 2.20. GuruFocus rates BOM:532809 with a GF Score™ of 90/100 and a GF Value™ of ₹385.14 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,599 Software companies, Firstsource Solutions ranks worse than 62.66% on this metric.

As of today (2026-08-19), Firstsource Solutions's current share price is ₹263.90. Firstsource Solutions's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was ₹97.98. Firstsource Solutions's Cyclically Adjusted PS Ratio for today is 2.69.

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

BOM:532809' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.43   Med: 2.2   Max: 4.77
Current: 2.72

During the past years, Firstsource Solutions's highest Cyclically Adjusted PS Ratio was 4.77. The lowest was 0.43. And the median was 2.20.

BOM:532809's Cyclically Adjusted PS Ratio is ranked worse than
62.66% of 1599 companies
in the Software industry
Industry Median: 1.69 vs BOM:532809: 2.72

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.

Firstsource Solutions's adjusted revenue per share data for the three months ended in Jun. 2026 was ₹39.141. 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 ₹97.98 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Firstsource Solutions  (BOM:532809) 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.


Firstsource Solutions Cyclically Adjusted PS Ratio Related Terms


Firstsource Solutions Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Firstsource Solutions'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.

Firstsource Solutions Cyclically Adjusted PS Ratio Chart

Firstsource Solutions Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.78 1.43 2.52 4.01 2.15

Firstsource Solutions 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 4.27 3.63 3.62 2.15 2.33

BOM:532809 vs IBM, ACN, FISV: Cyclically Adjusted PS Ratio Comparison

For the Information Technology Services subindustry, Firstsource Solutions'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.


Firstsource Solutions Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, Firstsource Solutions's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


BOM:532809
90GF Score
Firstsource Solutions Ltd BOM:532809
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Firstsource Solutions 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.

Firstsource Solutions's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=263.90/97.98
=2.69

* 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.

Firstsource Solutions's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Firstsource Solutions'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)
=39.141/167.3573*167.3573
=39.141

Current CPI (Jun. 2026) = 167.3573.

Firstsource Solutions Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 12.510 105.961 19.759
201612 12.531 105.196 19.936
201703 12.562 105.196 19.985
201706 12.357 107.109 19.308
201709 12.311 109.021 18.898
201712 12.572 109.404 19.232
201803 12.672 109.786 19.317
201806 13.087 111.317 19.675
201809 13.532 115.142 19.669
201812 13.971 115.142 20.307
201903 13.909 118.202 19.693
201906 13.998 120.880 19.380
201909 13.983 123.175 18.999
201912 15.049 126.235 19.951
202003 15.360 124.705 20.613
202006 15.091 127.000 19.886
202009 16.787 130.118 21.591
202012 19.197 130.889 24.546
202103 20.397 131.771 25.906
202106 20.987 134.084 26.195
202109 20.589 135.847 25.365
202112 20.490 138.161 24.820
202203 21.603 138.822 26.044
202206 20.654 142.347 24.283
202209 20.886 144.661 24.163
202212 21.418 145.763 24.591
202303 22.155 146.865 25.246
202306 21.812 150.280 24.291
202309 21.936 151.492 24.233
202312 22.796 152.924 24.947
202403 23.838 153.035 26.069
202406 25.324 155.789 27.204
202409 27.406 157.882 29.051
202412 29.565 158.323 31.252
202503 30.759 157.552 32.673
202506 31.478 159.755 32.976
202509 32.751 162.289 33.774
202512 35.064 163.281 35.939
202603 37.048 164.272 37.744
202606 39.141 167.357 39.141

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 2.69 mean?
Firstsource Solutions (BOM:532809) has a Cyclically Adjusted PS Ratio of 2.69 as of Aug. 19, 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 Firstsource Solutions and its competitors. This is 22% above median its historical median of 2.20. Over the past decade, Firstsource Solutions' Cyclically Adjusted PS Ratio has ranged from 0.43 to 4.77. According to the industry distribution chart, Firstsource Solutions ranks #1002 out of 1599 companies in the Software industry, placing it in the top 62.7%.
Is Firstsource Solutions' Cyclically Adjusted PS Ratio too high?
Firstsource Solutions' current Cyclically Adjusted PS Ratio of 2.69 is 22% above median its 10-year median of 2.20. Over the past 10 years, this metric has ranged from a low of 0.43 to a high of 4.77. The Software industry median Cyclically Adjusted PS Ratio is 1.69. Firstsource Solutions' value of 2.69 is 59.2% above this industry median. Based on the distribution chart, Firstsource Solutions ranks #1002 out of 1599 companies in the Software industry, which is below the industry midpoint. Overall, Firstsource Solutions has a GF Score™ of 90/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Firstsource Solutions' Cyclically Adjusted PS Ratio compare to IBM and ACN?
According to the Software industry distribution chart, Firstsource Solutions ranks #1002 out of 1599 companies for Cyclically Adjusted PS Ratio. This places Firstsource Solutions in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.69. Firstsource Solutions' value of 2.69 is 59.2% above this benchmark. Historically, Firstsource Solutions' own Cyclically Adjusted PS Ratio has ranged from 0.43 to 4.77 over the past decade. While the company's 10-year median is 2.20 vs. the industry median of 1.69, Firstsource Solutions 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 Software company?
The median Cyclically Adjusted PS Ratio among Software companies is 1.69, based on 1,599 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. Firstsource Solutions's current Cyclically Adjusted PS Ratio of 2.69 is 59.2% 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 Firstsource Solutions and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Firstsource Solutions's current Cyclically Adjusted PS Ratio is 2.69, which is 22% above median its own 10-year median of 2.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Firstsource Solutions stock overvalued right now?
Based on GuruFocus' analysis, Firstsource Solutions (BOM:532809) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹385.14, compared to a current price of ₹263.90 — trading 31.5% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.69, which is 22% above median its 10-year median of 2.20 and 59.2% above the Software industry median of 1.69. Firstsource Solutions' overall GF Score™ is 90/100 with 2 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 Firstsource Solutions (BOM:532809), the current Cyclically Adjusted PS Ratio is 2.69 as of Aug. 19, 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 Firstsource Solutions (BOM:532809) Overvalued in 2026?

Based on GuruFocus' analysis, Firstsource Solutions stock appears to be undervalued. The current stock price of ₹263.90 is trading 31.5% below its estimated GF Value™ of ₹385.14. GuruFocus considers Firstsource Solutions to be Significantly Undervalued.

Key valuation signals for BOM:532809:

  • Cyclically Adjusted PS Ratio: 2.69 (22% above median its 10-year median of 2.20)
  • GF Value™: ₹385.14 vs. price of ₹263.90 (31.5% below fair value)
  • GF Score™: 90/100 with 2 warning signs
  • Industry Position: 59.2% above the Software median (#1002 of 1599)

No single metric tells the full story. See the BOM:532809 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Firstsource Solutions Business Description

Other Exchanges FSL:India
Address Mindspace, Link Road, 5th Floor, Paradigm ‘B’ Wing, Malad (West), Mumbai, MH, IND, 400 064
Firstsource Solutions Ltd is engaged in the business of providing customer management services like contact centers, transaction processing, and debt collection services. The company's business segment includes Banking and Financial Services, Healthcare, Communication, Media and Technology, and Diverse Industries. It generates maximum revenue from the Banking and Financial Services segment. Geographically, it derives a majority of its revenue from the United States of America.
90GF Score

Get the complete analysis for BOM:532809

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

₹263.90
Price
₹385.14
GF Value