Gol Linhas Aereas Inteligentes (BSP:GOLL54) Cyclically Adjusted PS Ratio: 4.11 (As of Jul. 23, 2026) — Near 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.

BSP:GOLL54 Gol Linhas Aereas Inteligentes SA BSP:GOLL54
36 GF Score
Price R$9.75
GF Value R$43.98
! 5 Warning Signs
View Full Analysis

What is Gol Linhas Aereas Inteligentes Cyclically Adjusted PS Ratio?

Gol Linhas Aereas Inteligentes BSP:GOLL54 36 Cyclically Adjusted PS Ratio is 4.11 as of Jul. 23, 2026, which is 3% below its 10-year median of 4.24. GuruFocus rates BSP:GOLL54 with a GF Score™ of 36/100 and a GF Value™ of R$43.98. The stock has 5 warning signs investors should review.

As of today (2026-07-23), Gol Linhas Aereas Inteligentes's current share price is R$9.75. Gol Linhas Aereas Inteligentes's Cyclically Adjusted Revenue per Share for the quarter that ended in Sep. 2025 was R$2.37. Gol Linhas Aereas Inteligentes's Cyclically Adjusted PS Ratio for today is 4.11.

The historical rank and industry rank for Gol Linhas Aereas Inteligentes's Cyclically Adjusted PS Ratio or its related term are showing as below:

BSP:GOLL54' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.16   Med: 4.24   Max: 473.65
Current: 4.11

During the past years, Gol Linhas Aereas Inteligentes's highest Cyclically Adjusted PS Ratio was 473.65. The lowest was 0.16. And the median was 4.24.

BSP:GOLL54's Cyclically Adjusted PS Ratio is not ranked
in the Transportation industry.
Industry Median: 0.89 vs BSP:GOLL54: 4.11

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.

Gol Linhas Aereas Inteligentes's adjusted revenue per share data for the three months ended in Sep. 2025 was R$4.601. 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 R$2.37 for the trailing ten years ended in Sep. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Gol Linhas Aereas Inteligentes  (BSP:GOLL54) 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.


Gol Linhas Aereas Inteligentes Cyclically Adjusted PS Ratio Related Terms


Gol Linhas Aereas Inteligentes Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Gol Linhas Aereas Inteligentes'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.

Gol Linhas Aereas Inteligentes Cyclically Adjusted PS Ratio Chart

Gol Linhas Aereas Inteligentes Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10.59 6.62 2.85 3.10 0.24

Gol Linhas Aereas Inteligentes Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Jun25 Sep25
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 0.25 0.21 0.24 74.33 2.40

BSP:GOLL54 vs DAL, UAL, LUV: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, Gol Linhas Aereas Inteligentes'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.


Gol Linhas Aereas Inteligentes Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Gol Linhas Aereas Inteligentes's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Gol Linhas Aereas Inteligentes's Cyclically Adjusted PS Ratio falls into.


BSP:GOLL54
36GF Score
Gol Linhas Aereas Inteligentes SA BSP:GOLL54
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Gol Linhas Aereas Inteligentes 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.

Gol Linhas Aereas Inteligentes's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=9.75/2.37
=4.11

* 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.

Gol Linhas Aereas Inteligentes's Cyclically Adjusted Revenue per Share for the quarter that ended in Sep. 2025 is calculated as:

For example, Gol Linhas Aereas Inteligentes's adjusted Revenue per Share data for the three months ended in Sep. 2025 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Sep. 2025 (Change)*Current CPI (Sep. 2025)
=4.601/170.7391*170.7391
=4.601

Current CPI (Sep. 2025) = 170.7391.

Gol Linhas Aereas Inteligentes Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201509 0.064 101.392 0.108
201512 0.059 104.247 0.097
201603 0.060 106.979 0.096
201606 0.046 108.851 0.072
201609 0.053 109.986 0.082
201612 0.056 110.802 0.086
201703 0.057 111.869 0.087
201706 0.048 112.115 0.073
201709 0.059 112.777 0.089
201712 0.065 114.068 0.097
201803 2.283 114.868 3.393
201806 0.052 117.038 0.076
201809 0.064 117.881 0.093
201812 0.070 118.340 0.101
201903 0.070 120.124 0.099
201906 0.069 120.977 0.097
201909 0.122 121.292 0.172
201912 0.082 123.436 0.113
202003 0.068 124.092 0.094
202006 0.245 123.557 0.339
202009 0.019 125.095 0.026
202012 0.041 129.012 0.054
202103 0.034 131.660 0.044
202106 0.022 133.871 0.028
202109 0.037 137.913 0.046
202112 0.247 141.992 0.297
202203 0.062 146.537 0.072
202206 0.061 149.784 0.070
202209 0.074 147.800 0.085
202212 0.396 150.207 0.450
202303 0.090 153.352 0.100
202306 0.076 154.519 0.084
202309 0.391 155.464 0.429
202312 0.423 157.148 0.460
202403 0.086 159.372 0.092
202406 3.272 161.052 3.469
202409 3.166 162.342 3.330
202412 0.463 164.740 0.480
202506 4.020 169.670 4.045
202509 4.601 170.739 4.601

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 4.11 mean?
Gol Linhas Aereas Inteligentes (BSP:GOLL54) has a Cyclically Adjusted PS Ratio of 4.11 as of Jul. 23, 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 Gol Linhas Aereas Inteligentes and its competitors. This is near median its historical median of 4.24. Over the past decade, Gol Linhas Aereas Inteligentes' Cyclically Adjusted PS Ratio has ranged from 0.16 to 473.65.
Is Gol Linhas Aereas Inteligentes' Cyclically Adjusted PS Ratio too high?
Gol Linhas Aereas Inteligentes' current Cyclically Adjusted PS Ratio of 4.11 is near median its 10-year median of 4.24. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 473.65. The Transportation industry median Cyclically Adjusted PS Ratio is 0.89. Gol Linhas Aereas Inteligentes' value of 4.11 is 361.8% above this industry median. Overall, Gol Linhas Aereas Inteligentes has a GF Score™ of 36/100, reflecting its overall financial health beyond just this single metric.
How does Gol Linhas Aereas Inteligentes' Cyclically Adjusted PS Ratio compare to DAL and UAL?
Gol Linhas Aereas Inteligentes' Cyclically Adjusted PS Ratio of 4.11 can be compared against companies in the Transportation industry. The industry median Cyclically Adjusted PS Ratio is 0.89. Gol Linhas Aereas Inteligentes' value of 4.11 is 361.8% above this benchmark. Historically, Gol Linhas Aereas Inteligentes' own Cyclically Adjusted PS Ratio has ranged from 0.16 to 473.65 over the past decade. While the company's 10-year median is 4.24 vs. the industry median of 0.89, Gol Linhas Aereas Inteligentes 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 Transportation company?
The median Cyclically Adjusted PS Ratio among Transportation companies is 0.89, based on 759 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. Gol Linhas Aereas Inteligentes's current Cyclically Adjusted PS Ratio of 4.11 is 361.8% 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 Gol Linhas Aereas Inteligentes and its competitors. For the Transportation industry, the median Cyclically Adjusted PS Ratio is 0.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Gol Linhas Aereas Inteligentes's current Cyclically Adjusted PS Ratio is 4.11, which is near median its own 10-year median of 4.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Gol Linhas Aereas Inteligentes stock overvalued right now?
Gol Linhas Aereas Inteligentes (BSP:GOLL54) has a current Cyclically Adjusted PS Ratio of 4.11. The stock's GF Value™ is R$43.98, compared to a current price of R$9.75 — trading 77.8% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 4.11, which is near median its 10-year median of 4.24 and 361.8% above the Transportation industry median of 0.89. Gol Linhas Aereas Inteligentes' overall GF Score™ is 36/100 with 5 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 Gol Linhas Aereas Inteligentes (BSP:GOLL54), the current Cyclically Adjusted PS Ratio is 4.11 as of Jul. 23, 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 Gol Linhas Aereas Inteligentes (BSP:GOLL54) Overvalued in 2026?

Based on GuruFocus' analysis, Gol Linhas Aereas Inteligentes stock appears to be undervalued. The current stock price of R$9.75 is trading 77.8% below its estimated GF Value™ of R$43.98.

Key valuation signals for BSP:GOLL54:

  • Cyclically Adjusted PS Ratio: 4.11 (near median its 10-year median of 4.24)
  • GF Value™: R$43.98 vs. price of R$9.75 (77.8% below fair value)
  • GF Score™: 36/100 with 5 warning signs
  • Industry Position: 361.8% above the Transportation median

No single metric tells the full story. See the BSP:GOLL54 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Gol Linhas Aereas Inteligentes Business Description

Address Portaria 3, Predio 24, Praca Comandante Linneu Gomes, Jardim Aeroporto, Sao Paulo, SP, BRA, 04630-000
Gol Linhas Aereas Inteligentes SA is a Brazilian airline company. It operates in two segments, flight transportation which offers air transportation services and the smiles loyalty program segment which includes redemption of miles traveled for purchasing flight tickets. The company's revenue derives from transporting passengers on aircraft. The company operates both domestic and international flights from which the majority of revenues come in from domestic operations.
36GF Score

Get the complete analysis for BSP:GOLL54

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

R$9.75
Price
R$43.98
GF Value