Pandora AS (CHIX:PNDORC) Cyclically Adjusted PS Ratio: 2.53 (As of Jul. 22, 2026) — 21% Below Median

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Director of Data and Quant Analytics at GuruFocus
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CHIX:PNDORC Pandora AS CHIX:PNDORC
74 GF Score
Price kr764.20
GF Value kr1,206.19
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Pandora AS Cyclically Adjusted PS Ratio?

Pandora AS CHIX:PNDORC 74 Cyclically Adjusted PS Ratio is 2.53 as of Jul. 22, 2026, which is 21% below its 10-year median of 3.21. GuruFocus rates CHIX:PNDORC with a GF Score™ of 74/100 and a GF Value™ of kr1,206.19 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 793 Retail - Cyclical companies, Pandora AS ranks worse than 87.89% on this metric.

As of today (2026-07-22), Pandora AS's current share price is kr764.20. Pandora AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was kr301.97. Pandora AS's Cyclically Adjusted PS Ratio for today is 2.53.

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

CHIX:PNDORc' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.5   Med: 3.21   Max: 5.87
Current: 2.61

During the past years, Pandora AS's highest Cyclically Adjusted PS Ratio was 5.87. The lowest was 1.50. And the median was 3.21.

CHIX:PNDORc's Cyclically Adjusted PS Ratio is ranked worse than
87.89% of 793 companies
in the Retail - Cyclical industry
Industry Median: 0.49 vs CHIX:PNDORc: 2.61

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.

Pandora AS's adjusted revenue per share data for the three months ended in Mar. 2026 was kr95.088. 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 kr301.97 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pandora AS  (CHIX:PNDORc) 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.


Pandora AS Cyclically Adjusted PS Ratio Related Terms


Pandora AS Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Pandora AS'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.

Pandora AS Cyclically Adjusted PS Ratio Chart

Pandora AS 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 4.84 2.37 4.03 5.00 2.41

Pandora AS 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 3.87 3.99 2.91 2.41 1.52

CHIX:PNDORC vs TPR, SIG, CPRI: Cyclically Adjusted PS Ratio Comparison

For the Luxury Goods subindustry, Pandora AS'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.


Pandora AS Cyclically Adjusted PS Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Pandora AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


CHIX:PNDORC
74GF Score
Pandora AS CHIX:PNDORC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pandora AS 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.

Pandora AS's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=764.20/301.97
=2.53

* 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.

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

For example, Pandora AS'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)
=95.088/121.6800*121.6800
=95.088

Current CPI (Mar. 2026) = 121.6800.

Pandora AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 37.564 100.600 45.435
201609 40.375 100.200 49.030
201612 58.398 100.300 70.846
201703 45.866 101.200 55.148
201706 43.183 101.200 51.922
201709 46.769 101.800 55.902
201712 68.968 101.300 82.843
201803 46.339 101.700 55.443
201806 44.313 102.300 52.708
201809 46.624 102.400 55.402
201812 76.023 102.100 90.602
201903 47.618 102.900 56.309
201906 47.287 102.900 55.917
201909 40.811 102.900 48.259
201912 83.137 102.900 98.310
202003 52.150 103.300 61.429
202006 34.512 103.200 40.692
202009 42.717 103.500 50.220
202012 77.597 103.400 91.315
202103 45.143 104.300 52.665
202106 51.446 105.000 59.619
202109 47.652 105.800 54.804
202112 90.809 106.600 103.655
202203 59.463 109.900 65.837
202206 59.335 113.600 63.555
202209 55.928 116.400 58.465
202212 106.564 115.900 111.878
202303 65.804 117.300 68.261
202306 66.667 116.400 69.691
202309 64.648 117.400 67.005
202312 128.318 116.700 133.794
202403 83.566 118.400 85.881
202406 82.201 118.500 84.407
202409 74.877 118.900 76.628
202412 148.150 118.900 151.614
202503 93.422 120.200 94.572
202506 90.751 120.700 91.488
202509 80.766 121.600 80.819
202512 153.650 121.200 154.259
202603 95.088 121.680 95.088

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 2.53 mean?
Pandora AS (CHIX:PNDORC) has a Cyclically Adjusted PS Ratio of 2.53 as of Jul. 22, 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 Pandora AS and its competitors. This is 21% below median its historical median of 3.21. Over the past decade, Pandora AS's Cyclically Adjusted PS Ratio has ranged from 1.50 to 5.87. According to the industry distribution chart, Pandora AS ranks #697 out of 793 companies in the Retail - Cyclical industry, placing it in the top 87.9%.
Is Pandora AS's Cyclically Adjusted PS Ratio too high?
Pandora AS's current Cyclically Adjusted PS Ratio of 2.53 is 21% below median its 10-year median of 3.21. Over the past 10 years, this metric has ranged from a low of 1.50 to a high of 5.87. The Retail - Cyclical industry median Cyclically Adjusted PS Ratio is 0.49. Pandora AS's value of 2.53 is 416.3% above this industry median. Based on the distribution chart, Pandora AS ranks #697 out of 793 companies in the Retail - Cyclical industry, which is in the bottom quartile relative to peers. Overall, Pandora AS has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pandora AS's Cyclically Adjusted PS Ratio compare to TPR and SIG?
According to the Retail - Cyclical industry distribution chart, Pandora AS ranks #697 out of 793 companies for Cyclically Adjusted PS Ratio. This places Pandora AS in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.49. Pandora AS's value of 2.53 is 416.3% above this benchmark. Historically, Pandora AS's own Cyclically Adjusted PS Ratio has ranged from 1.50 to 5.87 over the past decade. While the company's 10-year median is 3.21 vs. the industry median of 0.49, Pandora AS 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 Retail - Cyclical company?
The median Cyclically Adjusted PS Ratio among Retail - Cyclical companies is 0.49, based on 793 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. Pandora AS's current Cyclically Adjusted PS Ratio of 2.53 is 416.3% 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 Pandora AS and its competitors. For the Retail - Cyclical industry, the median Cyclically Adjusted PS Ratio is 0.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pandora AS's current Cyclically Adjusted PS Ratio is 2.53, which is 21% below median its own 10-year median of 3.21. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pandora AS stock overvalued right now?
Based on GuruFocus' analysis, Pandora AS (CHIX:PNDORC) is currently considered Significantly Undervalued. The stock's GF Value™ is kr1,206.19, compared to a current price of kr764.20 — trading 36.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.53, which is 21% below median its 10-year median of 3.21 and 416.3% above the Retail - Cyclical industry median of 0.49. Pandora AS's overall GF Score™ is 74/100 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 Pandora AS (CHIX:PNDORC), the current Cyclically Adjusted PS Ratio is 2.53 as of Jul. 22, 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 Pandora AS (CHIX:PNDORC) Overvalued in 2026?

Based on GuruFocus' analysis, Pandora AS stock appears to be undervalued. The current stock price of kr764.20 is trading 36.6% below its estimated GF Value™ of kr1,206.19. GuruFocus considers Pandora AS to be Significantly Undervalued.

Key valuation signals for CHIX:PNDORC:

  • Cyclically Adjusted PS Ratio: 2.53 (21% below median its 10-year median of 3.21)
  • GF Value™: kr1,206.19 vs. price of kr764.20 (36.6% below fair value)
  • GF Score™: 74/100 with 2 warning signs
  • Industry Position: 416.3% above the Retail - Cyclical median (#697 of 793)

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


Pandora AS Business Description

Address Havneholmen 17-19, Copenhagen, DNK, DK-1561
Pandora is a premium jewelry brand and the market leader in the charm bracelet category. The company was established in the 1980s in Denmark and since then has expanded globally. Pandora has over 2,700 concept stores globally (2,000 owned and operated, and the remainder run by its franchise partners) as well as multibrand locations and stores-in-stores. Pandora owned retail accounts for over 80% and wholesale for the remainder. Charms and bracelets account for almost three-fourths of its sales. The firm produces mostly internally in two jewelry-crafting facilities in Thailand.
74GF Score

Get the complete analysis for CHIX:PNDORC

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

kr764.20
Price
kr1,206.19
GF Value