Elisa Oyj (CHIX:ELISAH) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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.

CHIX:ELISAH Elisa Oyj CHIX:ELISAH
67 GF Score
Price €36.94
GF Value €45.28
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Elisa Oyj Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Elisa Oyj  (CHIX:ELISAh) 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.


Elisa Oyj Cyclically Adjusted PS Ratio Related Terms


Elisa Oyj Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Elisa Oyj'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.

Elisa Oyj Cyclically Adjusted PS Ratio Chart

Elisa Oyj 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 4.77 3.98 3.40 3.07 2.74

Elisa Oyj 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 3.45 3.26 2.72 3.03 2.67

CHIX:ELISAH vs VZ, TMUS, T: Cyclically Adjusted PS Ratio Comparison

For the Telecom Services subindustry, Elisa Oyj'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.


Elisa Oyj Cyclically Adjusted PS Ratio vs Telecommunication Services Industry

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

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


CHIX:ELISAH
67GF Score
Elisa Oyj CHIX:ELISAH
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Elisa Oyj 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.

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

For example, Elisa Oyj'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)
=3.428/125.0700*125.0700
=3.428

Current CPI (Jun. 2026) = 125.0700.

Elisa Oyj Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.623 100.540 3.263
201612 2.719 101.020 3.366
201703 2.604 100.910 3.227
201706 2.788 101.140 3.448
201709 2.845 101.320 3.512
201712 2.962 101.510 3.649
201803 2.816 101.730 3.462
201806 2.864 102.320 3.501
201809 2.841 102.600 3.463
201812 2.946 102.710 3.587
201903 2.751 102.870 3.345
201906 2.824 103.360 3.417
201909 2.907 103.540 3.511
201912 3.048 103.650 3.678
202003 2.925 103.490 3.535
202006 2.879 103.320 3.485
202009 2.920 103.710 3.521
202012 3.112 103.890 3.746
202103 3.007 104.870 3.586
202106 3.023 105.360 3.589
202109 3.100 106.290 3.648
202112 3.343 107.490 3.890
202203 3.190 110.950 3.596
202206 3.254 113.570 3.583
202209 3.330 114.920 3.624
202212 3.507 117.320 3.739
202303 3.365 119.750 3.514
202306 3.320 120.690 3.440
202309 3.394 121.280 3.500
202312 3.509 121.540 3.611
202403 3.330 122.360 3.404
202406 3.371 122.230 3.449
202409 3.336 122.260 3.413
202412 3.608 122.390 3.687
202503 3.462 123.010 3.520
202506 3.439 122.530 3.510
202509 3.490 122.880 3.552
202512 3.662 122.670 3.734
202603 3.414 124.670 3.425
202606 3.428 125.070 3.428

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 Elisa Oyj (CHIX:ELISAH) Overvalued in 2026?

Based on GuruFocus' analysis, Elisa Oyj stock appears to be undervalued. The current stock price of €36.94 is trading 18.4% below its estimated GF Value™ of €45.28. GuruFocus considers Elisa Oyj to be Modestly Undervalued.

Key valuation signals for CHIX:ELISAH:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €45.28 vs. price of €36.94 (18.4% below fair value)
  • GF Score™: 67/100 with 2 warning signs

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


Elisa Oyj Business Description

Address Ratavartijankatu 5, Helsinki, FIN, 00520
Elisa Oyj is a telecommunications company that operates in two segments, Consumer Customers and Corporate Customers. The Consumer Customers segment provides consumers with telecommunications and communications services, such as fixed and mobile subscriptions with supplementary digital services, cable TV subscriptions, and Elisa Viihde entertainment service. The Corporate Customers segment provides corporate and public administration organizations with services such as IT and communication solutions for the digital environment and fixed and mobile subscriptions. The majority of revenue is generated from the Consumer Customers segment. The company generates the majority of its revenue in Finland.
67GF Score

Get the complete analysis for CHIX:ELISAH

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

€36.94
Price
€45.28
GF Value