WithSecure (CHIX:WITHH) Cyclically Adjusted PS Ratio: 1.17 (As of Sep. 18, 2026) — 10% Below Median

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CHIX:WITHH WithSecure Corp CHIX:WITHH
16 GF Score
Price €1.34
GF Value €0.74
! 5 Warning Signs
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What is WithSecure Cyclically Adjusted PS Ratio?

WithSecure CHIX:WITHH 16 Cyclically Adjusted PS Ratio is 1.17 as of Sep. 18, 2026, which is 10% below its 10-year median of 1.30. GuruFocus rates CHIX:WITHH with a GF Score™ of 16/100 and a GF Value™ of €0.74. The stock has 5 warning signs investors should review.

As of today (2026-09-18), WithSecure's current share price is €1.34. WithSecure's Cyclically Adjusted Revenue per Share for the quarter that ended in Sep. 2025 was €1.15. WithSecure's Cyclically Adjusted PS Ratio for today is 1.17.

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

CHIX:WITHh' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.59   Med: 1.3   Max: 2.13
Current: 1.46

During the past years, WithSecure's highest Cyclically Adjusted PS Ratio was 2.13. The lowest was 0.59. And the median was 1.30.

CHIX:WITHh's Cyclically Adjusted PS Ratio is not ranked
in the Software industry.
Industry Median: 1.66 vs CHIX:WITHh: 1.46

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.

WithSecure's adjusted revenue per share data for the three months ended in Sep. 2025 was €0.162. 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 €1.15 for the trailing ten years ended in Sep. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


WithSecure  (CHIX:WITHh) 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.


WithSecure Cyclically Adjusted PS Ratio Related Terms


WithSecure Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for WithSecure'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.

WithSecure Cyclically Adjusted PS Ratio Chart

WithSecure 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 3.44 4.38 1.12 1.14 1.17

WithSecure Quarterly Data
Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 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 1.13 1.14 1.14 1.16 1.17

CHIX:WITHH vs MSFT, ORCL, PLTR: Cyclically Adjusted PS Ratio Comparison

For the Software - Infrastructure subindustry, WithSecure'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.


WithSecure Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, WithSecure's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


CHIX:WITHH
16GF Score
WithSecure Corp CHIX:WITHH
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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WithSecure 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.

WithSecure's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=1.34/1.147
=1.17

* 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.

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

For example, WithSecure'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)
=0.162/122.8800*122.8800
=0.162

Current CPI (Sep. 2025) = 122.8800.

WithSecure Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201509 0.239 100.130 0.293
201512 0.250 99.990 0.307
201603 0.243 100.080 0.298
201606 0.252 100.390 0.308
201609 0.249 100.540 0.304
201612 0.271 101.020 0.330
201703 0.262 100.910 0.319
201706 0.277 101.140 0.337
201709 0.263 101.320 0.319
201712 0.284 101.510 0.344
201803 0.275 101.730 0.332
201806 0.276 102.320 0.331
201809 0.321 102.600 0.384
201812 0.341 102.710 0.408
201903 0.339 102.870 0.405
201906 0.343 103.360 0.408
201909 0.341 103.540 0.405
201912 0.356 103.650 0.422
202003 0.347 103.490 0.412
202006 0.335 103.320 0.398
202009 0.345 103.710 0.409
202012 0.366 103.890 0.433
202103 0.199 104.870 0.233
202106 0.201 105.360 0.234
202109 0.203 106.290 0.235
202112 0.218 107.490 0.249
202203 0.201 110.950 0.223
202206 0.186 113.570 0.201
202209 0.192 114.920 0.205
202212 0.209 117.320 0.219
202303 0.198 119.750 0.203
202306 0.200 120.690 0.204
202309 0.199 121.280 0.202
202312 0.159 121.540 0.161
202403 0.164 122.360 0.165
202406 0.163 122.230 0.164
202409 0.163 122.260 0.164
202503 0.171 123.010 0.171
202506 0.167 122.530 0.167
202509 0.162 122.880 0.162

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 1.17 mean?
WithSecure (CHIX:WITHH) has a Cyclically Adjusted PS Ratio of 1.17 as of Sep. 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 WithSecure and its competitors. This is 10% below median its historical median of 1.30. Over the past decade, WithSecure's Cyclically Adjusted PS Ratio has ranged from 0.59 to 2.13.
Is WithSecure's Cyclically Adjusted PS Ratio too high?
WithSecure's current Cyclically Adjusted PS Ratio of 1.17 is 10% below median its 10-year median of 1.30. Over the past 10 years, this metric has ranged from a low of 0.59 to a high of 2.13. The Software industry median Cyclically Adjusted PS Ratio is 1.66. WithSecure's value of 1.17 is 29.5% below this industry median. Overall, WithSecure has a GF Score™ of 16/100, reflecting its overall financial health beyond just this single metric.
How does WithSecure's Cyclically Adjusted PS Ratio compare to MSFT and ORCL?
WithSecure's Cyclically Adjusted PS Ratio of 1.17 can be compared against companies in the Software industry. The industry median Cyclically Adjusted PS Ratio is 1.66. WithSecure's value of 1.17 is 29.5% below this benchmark. Historically, WithSecure's own Cyclically Adjusted PS Ratio has ranged from 0.59 to 2.13 over the past decade. While the company's 10-year median is 1.30 vs. the industry median of 1.66, WithSecure 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 Software company?
The median Cyclically Adjusted PS Ratio among Software companies is 1.66, based on 1,600 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. WithSecure's current Cyclically Adjusted PS Ratio of 1.17 is 29.5% 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 WithSecure and its competitors. For the Software industry, the median Cyclically Adjusted PS Ratio is 1.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WithSecure's current Cyclically Adjusted PS Ratio is 1.17, which is 10% below median its own 10-year median of 1.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WithSecure stock overvalued right now?
WithSecure (CHIX:WITHH) has a current Cyclically Adjusted PS Ratio of 1.17. The stock's GF Value™ is €0.74, compared to a current price of €1.34 — trading 81.1% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.17, which is 10% below median its 10-year median of 1.30 and 29.5% below the Software industry median of 1.66. WithSecure's overall GF Score™ is 16/100 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 WithSecure (CHIX:WITHH), the current Cyclically Adjusted PS Ratio is 1.17 as of Sep. 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 WithSecure (CHIX:WITHH) Overvalued in 2026?

Based on GuruFocus' analysis, WithSecure stock appears to be overvalued. The current stock price of €1.34 is trading 81.1% above its estimated GF Value™ of €0.74.

Key valuation signals for CHIX:WITHH:

  • Cyclically Adjusted PS Ratio: 1.17 (10% below median its 10-year median of 1.30)
  • GF Value™: €0.74 vs. price of €1.34 (81.1% above fair value)
  • GF Score™: 16/100 with 5 warning signs
  • Industry Position: 29.5% below the Software median

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


WithSecure Business Description

Address Valimerenkatu 1, Helsinki, FIN, 00181
WithSecure Corp, formerly F-Secure Corp is a cyber security products and services company The Company has one segment which is security. Its solutions help to protect thousands of businesses from security threats. Geographically, WithSecure is focused on Europe and the United States, and the company's products are sold by thousands of resellers. The company's revenue is split into three categories. Cloud revenue includes the Elements platform cloud-based products, Managed Detection and Response (MDR) and Cloud Protection for Salesforce (CPSF) revenue. Onpremise revenue includes the Elements portfolio on-premise product (Endpoint protection) and other legacy products. Consulting revenue includes the cyber security consulting services.
16GF Score

Get the complete analysis for CHIX:WITHH

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

€1.34
Price
€0.74
GF Value