CHEAF (China Eastern Airlines) Cyclically Adjusted PS Ratio: 0.47 (As of Jul. 18, 2026) — 30% Below Median

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.

CHEAF China Eastern Airlines Corp Ltd CHEAF
57 GF Score
Price $0.40
GF Value $0.66
Valuation Possible Value Trap
! 5 Warning Signs
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What is China Eastern Airlines Cyclically Adjusted PS Ratio?

China Eastern Airlines CHEAF 57 Cyclically Adjusted PS Ratio is 0.47 as of Jul. 18, 2026, which is 30% below its 10-year median of 0.67. GuruFocus rates CHEAF with a GF Scoreâ„¢ of 57/100 and a GF Valueâ„¢ of $0.66 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 757 Transportation companies, China Eastern Airlines ranks better than 64.33% on this metric.

As of today (2026-07-18), China Eastern Airlines's current share price is $0.3982. China Eastern Airlines's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was $0.85. China Eastern Airlines's Cyclically Adjusted PS Ratio for today is 0.47.

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

CHEAF' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.49   Med: 0.67   Max: 1.01
Current: 0.58

During the past years, China Eastern Airlines's highest Cyclically Adjusted PS Ratio was 1.01. The lowest was 0.49. And the median was 0.67.

CHEAF's Cyclically Adjusted PS Ratio is ranked better than
64.33% of 757 companies
in the Transportation industry
Industry Median: 0.9 vs CHEAF: 0.58

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.

China Eastern Airlines's adjusted revenue per share data for the three months ended in Mar. 2026 was $0.230. 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 $0.85 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


China Eastern Airlines  (OTCPK:CHEAF) 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.


China Eastern Airlines Cyclically Adjusted PS Ratio Related Terms


China Eastern Airlines Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for China Eastern Airlines'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.

China Eastern Airlines Cyclically Adjusted PS Ratio Chart

China Eastern Airlines 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 0.69 0.80 0.60 0.63 0.96

China Eastern Airlines 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 0.57 0.65 0.67 0.96 0.68

CHEAF vs DAL, UAL, LUV: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, China Eastern Airlines'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.


China Eastern Airlines Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, China Eastern Airlines's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where China Eastern Airlines's Cyclically Adjusted PS Ratio falls into.


CHEAF
57GF Score
China Eastern Airlines Corp Ltd CHEAF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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China Eastern Airlines 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.

China Eastern Airlines's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=0.3982/0.85
=0.47

* 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.

China Eastern Airlines's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, China Eastern Airlines'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)
=0.23/116.3033*116.3033
=0.230

Current CPI (Mar. 2026) = 116.3033.

China Eastern Airlines Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.269 101.400 0.309
201609 0.302 102.400 0.343
201612 0.245 102.600 0.278
201703 0.240 103.200 0.270
201706 0.244 103.100 0.275
201709 0.314 104.100 0.351
201712 0.252 104.500 0.280
201803 0.299 105.300 0.330
201806 0.298 104.900 0.330
201809 0.332 106.600 0.362
201812 0.289 106.500 0.316
201903 0.312 107.700 0.337
201906 0.268 107.700 0.289
201909 0.301 109.800 0.319
201912 0.250 111.200 0.261
202003 0.134 112.300 0.139
202006 0.083 110.400 0.087
202009 0.134 111.700 0.140
202012 0.149 111.500 0.155
202103 0.124 112.662 0.128
202106 0.207 111.769 0.215
202109 0.168 112.215 0.174
202112 0.127 113.108 0.131
202203 0.105 114.335 0.107
202206 0.053 114.558 0.054
202209 0.125 115.339 0.126
202212 0.080 115.116 0.081
202303 0.143 115.116 0.144
202306 0.172 114.558 0.175
202309 0.217 115.339 0.219
202312 0.179 114.781 0.181
202403 0.230 115.227 0.232
202406 0.164 114.781 0.166
202409 0.393 115.785 0.395
202412 0.182 114.893 0.184
202503 0.185 115.116 0.187
202506 0.204 114.907 0.206
202509 0.248 115.471 0.250
202512 0.321 115.832 0.322
202603 0.230 116.303 0.230

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 0.47 mean?
China Eastern Airlines (CHEAF) has a Cyclically Adjusted PS Ratio of 0.47 as of Jul. 18, 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 China Eastern Airlines and its competitors. This is 30% below median its historical median of 0.67. Over the past decade, China Eastern Airlines' Cyclically Adjusted PS Ratio has ranged from 0.49 to 1.01. According to the industry distribution chart, China Eastern Airlines ranks #270 out of 757 companies in the Transportation industry, placing it in the top 35.7%.
Is China Eastern Airlines' Cyclically Adjusted PS Ratio too high?
China Eastern Airlines' current Cyclically Adjusted PS Ratio of 0.47 is 30% below median its 10-year median of 0.67. Over the past 10 years, this metric has ranged from a low of 0.49 to a high of 1.01. The Transportation industry median Cyclically Adjusted PS Ratio is 0.90. China Eastern Airlines' value of 0.47 is 47.8% below this industry median. Based on the distribution chart, China Eastern Airlines ranks #270 out of 757 companies in the Transportation industry, which is above the industry midpoint. Overall, China Eastern Airlines has a GF Scoreâ„¢ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does China Eastern Airlines' Cyclically Adjusted PS Ratio compare to DAL and UAL?
According to the Transportation industry distribution chart, China Eastern Airlines ranks #270 out of 757 companies for Cyclically Adjusted PS Ratio. This puts China Eastern Airlines in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.90. China Eastern Airlines' value of 0.47 is 47.8% below this benchmark. Historically, China Eastern Airlines' own Cyclically Adjusted PS Ratio has ranged from 0.49 to 1.01 over the past decade. While the company's 10-year median is 0.67 vs. the industry median of 0.90, China Eastern Airlines has consistently been below 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 0.90, based on 757 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. China Eastern Airlines's current Cyclically Adjusted PS Ratio of 0.47 is 47.8% below 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 China Eastern Airlines and its competitors. For the Transportation industry, the median Cyclically Adjusted PS Ratio is 0.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Eastern Airlines's current Cyclically Adjusted PS Ratio is 0.47, which is 30% below median its own 10-year median of 0.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Eastern Airlines stock overvalued right now?
Based on GuruFocus' analysis, China Eastern Airlines (CHEAF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.66, compared to a current price of $0.40 — trading 39.7% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.47, which is 30% below median its 10-year median of 0.67 and 47.8% below the Transportation industry median of 0.90. China Eastern Airlines' overall GF Score™ is 57/100 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 China Eastern Airlines (CHEAF), the current Cyclically Adjusted PS Ratio is 0.47 as of Jul. 18, 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 China Eastern Airlines (CHEAF) Overvalued in 2026?

Based on GuruFocus' analysis, China Eastern Airlines stock appears to be undervalued. The current stock price of $0.40 is trading 39.7% below its estimated GF Value™ of $0.66. GuruFocus considers China Eastern Airlines to be Possible Value Trap.

Key valuation signals for CHEAF:

  • Cyclically Adjusted PS Ratio: 0.47 (30% below median its 10-year median of 0.67)
  • GF Value™: $0.66 vs. price of $0.40 (39.7% below fair value)
  • GF Score™: 57/100 with 5 warning signs
  • Industry Position: 47.8% below the Transportation median (#270 of 757)

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


China Eastern Airlines Business Description

Address 36 Hongxiang 3rd Road, Minhang District, Shanghai, CHN, 201100
China Eastern Airlines Corp Ltd principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery and other extended transportation services, also manufacturing and maintenance of aircraft and aviation equipment, agency services, import and export business, tourism and hotel business; and other businesses related to air transportation. The Group has two reportable segments. Airline transportation operations mainly comprise the provision of passenger, cargo, mail delivery, and ground services. Other services, including tour operations, air catering, and other miscellaneous services, are not included within the airline transportation operations segment. Geographically, the company operates Domestic, Regional and International.
57GF Score

Get the complete analysis for CHEAF

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

$0.40
Price
$0.66
GF Value