Telecomunicacoes Brasileiras (BSP:TELB4) Cyclically Adjusted PS Ratio: (As of Sep. 21, 2026)

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:TELB4 Telecomunicacoes Brasileiras SA BSP:TELB4
64 GF Score
Price R$7.94
GF Value R$11.49
Valuation Possible Value Trap
! 9 Warning Signs
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What is Telecomunicacoes Brasileiras Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Telecomunicacoes Brasileiras  (BSP:TELB4) 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.


Telecomunicacoes Brasileiras Cyclically Adjusted PS Ratio Related Terms


Telecomunicacoes Brasileiras Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Telecomunicacoes Brasileiras'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.

Telecomunicacoes Brasileiras Cyclically Adjusted PS Ratio Chart

Telecomunicacoes Brasileiras 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 2.53 1.58 1.94 1.32 1.40

Telecomunicacoes Brasileiras Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 1.52 1.56 1.39 1.56 1.26

BSP:TELB4 vs VZ, TMUS, T: Cyclically Adjusted PS Ratio Comparison

For the Telecom Services subindustry, Telecomunicacoes Brasileiras'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.


Telecomunicacoes Brasileiras Cyclically Adjusted PS Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Telecomunicacoes Brasileiras's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


BSP:TELB4
64GF Score
Telecomunicacoes Brasileiras SA BSP:TELB4
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telecomunicacoes Brasileiras 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.

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

For example, Telecomunicacoes Brasileiras'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)
=1.405/177.5443*177.5443
=1.405

Current CPI (Jun. 2026) = 177.5443.

Telecomunicacoes Brasileiras Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.981 108.851 1.600
201609 1.061 109.986 1.713
201612 1.359 110.802 2.178
201703 1.310 111.869 2.079
201706 0.314 112.115 0.497
201709 1.328 112.777 2.091
201712 1.023 114.068 1.592
201803 0.616 114.868 0.952
201806 0.587 117.038 0.890
201809 0.783 117.881 1.179
201812 2.039 118.340 3.059
201903 0.825 120.124 1.219
201906 0.890 120.977 1.306
201909 0.953 121.292 1.395
201912 1.215 123.436 1.748
202003 1.280 124.092 1.831
202006 1.034 123.557 1.486
202009 1.146 125.095 1.626
202012 1.011 129.012 1.391
202103 1.096 131.660 1.478
202106 0.973 133.871 1.290
202109 0.966 137.913 1.244
202112 1.273 141.992 1.592
202203 1.049 146.537 1.271
202206 1.246 149.784 1.477
202209 1.499 147.800 1.801
202212 1.046 150.207 1.236
202303 1.124 153.352 1.301
202306 1.172 154.519 1.347
202309 1.259 155.464 1.438
202312 1.271 157.148 1.436
202403 0.909 159.372 1.013
202406 1.155 161.052 1.273
202409 1.209 162.342 1.322
202503 1.324 168.102 1.398
202506 1.264 169.670 1.323
202509 1.186 170.739 1.233
202512 1.574 171.765 1.627
202603 1.323 175.066 1.342
202606 1.405 177.544 1.405

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 Telecomunicacoes Brasileiras (BSP:TELB4) Overvalued in 2026?

Based on GuruFocus' analysis, Telecomunicacoes Brasileiras stock appears to be undervalued. The current stock price of R$7.94 is trading 30.9% below its estimated GF Value™ of R$11.49. GuruFocus considers Telecomunicacoes Brasileiras to be Possible Value Trap.

Key valuation signals for BSP:TELB4:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: R$11.49 vs. price of R$7.94 (30.9% below fair value)
  • GF Score™: 64/100 with 9 warning signs

No single metric tells the full story. See the BSP:TELB4 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Telecomunicacoes Brasileiras Business Description

Other Exchanges TELB3:Brazil
Address Commercial Sector South - Quadra 09 - Bloco B, Rooms 301-405, Building Corporate Park City - Tower B, Brasilia, DF, BRA, 70308200
Telecomunicacoes Brasileiras SA is a Brazil-based company. Along with its subsidiaries, the firm offers telecommunication services in the areas of fixed line and mobile communication and internet access services. Its product portfolio includes IP (Internet Protocol) Telebras, Telebras Point-to-Point, and Telebras MPLS (Multiprotocol Label Switching) Network. The company also provides broadband services and infrastructure support services.
64GF Score

Get the complete analysis for BSP:TELB4

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

R$7.94
Price
R$11.49
GF Value