CLW (Clearwater Paper) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

CLW Clearwater Paper Corp CLW
65 GF Score
Price $21.29
GF Value $28.76
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Clearwater Paper Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Clearwater Paper  (NYSE:CLW) 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.


Clearwater Paper Cyclically Adjusted PS Ratio Related Terms


Clearwater Paper Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Clearwater Paper'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.

Clearwater Paper Cyclically Adjusted PS Ratio Chart

Clearwater Paper 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 0.33 0.31 0.30 0.25 0.15

Clearwater Paper 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 0.22 0.17 0.14 0.12 0.13

CLW vs MERC, ITP, SLVM: Cyclically Adjusted PS Ratio Comparison

For the Paper & Paper Products subindustry, Clearwater Paper'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.


Clearwater Paper Cyclically Adjusted PS Ratio vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, Clearwater Paper's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


CLW
65GF Score
Clearwater Paper Corp CLW
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Clearwater Paper 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.

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

For example, Clearwater Paper'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)
=23.242/333.9520*333.9520
=23.242

Current CPI (Jun. 2026) = 333.9520.

Clearwater Paper Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 25.518 241.428 35.297
201612 25.360 241.432 35.078
201703 26.290 243.801 36.011
201706 25.899 244.955 35.309
201709 25.744 246.819 34.832
201712 26.359 246.524 35.707
201803 26.358 249.554 35.272
201806 26.101 251.989 34.591
201809 25.747 252.439 34.061
201812 25.996 251.233 34.555
201903 25.887 254.202 34.008
201906 27.330 256.143 35.632
201909 26.918 256.759 35.011
201912 26.305 256.974 34.185
202003 28.763 258.115 37.214
202006 28.797 257.797 37.304
202009 27.254 260.280 34.968
202012 26.807 260.474 34.369
202103 25.084 264.877 31.625
202106 24.357 271.696 29.938
202109 26.545 274.310 32.317
202112 28.561 278.802 34.211
202203 28.595 287.504 33.215
202206 30.823 296.311 34.739
202209 31.522 296.808 35.467
202212 31.036 296.797 34.921
202303 30.841 301.836 34.123
202306 30.935 305.109 33.859
202309 16.508 307.789 17.911
202312 16.144 306.746 17.576
202403 15.584 312.332 16.663
202406 20.671 314.175 21.972
202409 23.664 315.301 25.064
202412 23.146 315.605 24.492
202503 23.096 319.799 24.118
202506 24.124 322.561 24.976
202509 24.718 324.800 25.414
202512 24.049 324.054 24.784
202603 22.407 330.213 22.661
202606 23.242 333.952 23.242

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 Clearwater Paper (CLW) Overvalued in 2026?

Based on GuruFocus' analysis, Clearwater Paper stock appears to be undervalued. The current stock price of $21.29 is trading 26% below its estimated GF Value™ of $28.76. GuruFocus considers Clearwater Paper to be Modestly Undervalued.

Key valuation signals for CLW:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $28.76 vs. price of $21.29 (26% below fair value)
  • GF Score™: 65/100 with 4 warning signs

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


Clearwater Paper Business Description

Other Exchanges 5WC:Germany
Address 601 West Riverside, Suite 1100, Spokane, WA, USA, 99201
Clearwater Paper Corp is engaged in the manufacturing and supplier of Solid Bleached Sulfate (SBS) paperboard packaging products. The company products includes: SBS paperboard which is a premium paperboard grade that is frequently used to produce folding cartons, food service, commercial printing items. It generates maximum revenue from Pulp and Paperboard segment. Company operate in United States and have globalized access too. Geographically, it derives maximum revenue from the United States.
65GF Score

Get the complete analysis for CLW

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

$21.29
Price
$28.76
GF Value