Grameenphone (DHA:GP) Cyclically Adjusted PS Ratio: 2.05 (As of Jul. 23, 2026) — 23% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
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.

DHA:GP Grameenphone Ltd DHA:GP
93 GF Score
Price BDT259.00
GF Value BDT288.27
Valuation Modestly Undervalued
! 6 Warning Signs
View Full Analysis

What is Grameenphone Cyclically Adjusted PS Ratio?

Grameenphone DHA:GP +0.35% 93 Cyclically Adjusted PS Ratio is 2.05 as of Jul. 23, 2026, which is 23% below its 10-year median of 2.65. GuruFocus rates DHA:GP with a GF Score™ of 93/100 and a GF Value™ of BDT288.27 (Modestly Undervalued). The stock has 6 warning signs investors should review. Among 302 Telecommunication Services companies, Grameenphone ranks worse than 69.54% on this metric.

As of today (2026-07-23), Grameenphone's current share price is BDT259.00. Grameenphone's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was BDT126.55. Grameenphone's Cyclically Adjusted PS Ratio for today is 2.05.

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

DHA:GP' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.9   Med: 2.65   Max: 4.01
Current: 2.05

During the past years, Grameenphone's highest Cyclically Adjusted PS Ratio was 4.01. The lowest was 1.90. And the median was 2.65.

DHA:GP's Cyclically Adjusted PS Ratio is ranked worse than
69.54% of 302 companies
in the Telecommunication Services industry
Industry Median: 1.165 vs DHA:GP: 2.05

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.

Grameenphone's adjusted revenue per share data for the three months ended in Jun. 2026 was BDT29.052. 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 BDT126.55 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Grameenphone  (DHA:GP) 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.


Grameenphone Cyclically Adjusted PS Ratio Related Terms


Grameenphone Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Grameenphone'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.

Grameenphone Cyclically Adjusted PS Ratio Chart

Grameenphone 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 3.52 2.65 2.52 2.72 2.10

Grameenphone 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 2.49 2.43 2.10 1.95 2.05

DHA:GP vs TMUS, VZ, T: Cyclically Adjusted PS Ratio Comparison

For the Telecom Services subindustry, Grameenphone'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.


Grameenphone Cyclically Adjusted PS Ratio vs Telecommunication Services Industry

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

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


DHA:GP
93GF Score
Grameenphone Ltd DHA:GP
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Grameenphone 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.

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

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=259.00/126.55
=2.05

* 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.

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

For example, Grameenphone'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)
=29.052/333.9520*333.9520
=29.052

Current CPI (Jun. 2026) = 333.9520.

Grameenphone Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 21.801 241.428 30.156
201612 22.078 241.432 30.539
201703 22.367 243.801 30.638
201706 23.676 244.955 32.278
201709 24.255 246.819 32.818
201712 23.533 246.524 31.879
201803 22.830 249.554 30.551
201806 23.812 251.989 31.557
201809 25.114 252.439 33.223
201812 25.402 251.233 33.766
201903 25.520 254.202 33.526
201906 26.399 256.143 34.418
201909 26.830 256.759 34.896
201912 26.501 256.974 34.440
202003 26.501 258.115 34.287
202006 24.203 257.797 31.353
202009 26.040 260.280 33.411
202012 25.482 260.474 32.670
202103 25.480 264.877 32.125
202106 26.175 271.696 32.173
202109 26.503 274.310 32.265
202112 26.503 278.802 31.746
202203 26.585 287.504 30.880
202206 27.727 296.311 31.249
202209 28.284 296.808 31.824
202212 27.458 296.797 30.895
202303 27.315 301.836 30.221
202306 29.268 305.109 32.035
202309 30.056 307.789 32.611
202312 29.427 306.746 32.037
202403 28.726 312.332 30.714
202406 30.855 314.175 32.797
202409 28.861 315.301 30.568
202412 27.238 315.605 28.821
202503 27.973 319.799 29.211
202506 29.957 322.561 31.015
202509 29.271 324.800 30.096
202512 28.139 324.054 28.998
202603 27.409 330.213 27.719
202606 29.052 333.952 29.052

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 2.05 mean?
Grameenphone (DHA:GP) has a Cyclically Adjusted PS Ratio of 2.05 as of Jul. 23, 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 Grameenphone and its competitors. This is 23% below median its historical median of 2.65. Over the past decade, Grameenphone's Cyclically Adjusted PS Ratio has ranged from 1.90 to 4.01. According to the industry distribution chart, Grameenphone ranks #210 out of 302 companies in the Telecommunication Services industry, placing it in the top 69.5%.
Is Grameenphone's Cyclically Adjusted PS Ratio too high?
Grameenphone's current Cyclically Adjusted PS Ratio of 2.05 is 23% below median its 10-year median of 2.65. Over the past 10 years, this metric has ranged from a low of 1.90 to a high of 4.01. The Telecommunication Services industry median Cyclically Adjusted PS Ratio is 1.17. Grameenphone's value of 2.05 is 76% above this industry median. Based on the distribution chart, Grameenphone ranks #210 out of 302 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Grameenphone has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Grameenphone's Cyclically Adjusted PS Ratio compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, Grameenphone ranks #210 out of 302 companies for Cyclically Adjusted PS Ratio. This places Grameenphone in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.17. Grameenphone's value of 2.05 is 76% above this benchmark. Historically, Grameenphone's own Cyclically Adjusted PS Ratio has ranged from 1.90 to 4.01 over the past decade. While the company's 10-year median is 2.65 vs. the industry median of 1.17, Grameenphone 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 Telecommunication Services company?
The median Cyclically Adjusted PS Ratio among Telecommunication Services companies is 1.17, based on 302 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. Grameenphone's current Cyclically Adjusted PS Ratio of 2.05 is 76% 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 Grameenphone and its competitors. For the Telecommunication Services industry, the median Cyclically Adjusted PS Ratio is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Grameenphone's current Cyclically Adjusted PS Ratio is 2.05, which is 23% below median its own 10-year median of 2.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grameenphone stock overvalued right now?
Based on GuruFocus' analysis, Grameenphone (DHA:GP) is currently considered Modestly Undervalued. The stock's GF Value™ is BDT288.27, compared to a current price of BDT259.00 — trading 10.2% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.05, which is 23% below median its 10-year median of 2.65 and 76% above the Telecommunication Services industry median of 1.17. Grameenphone's overall GF Score™ is 93/100 with 6 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 Grameenphone (DHA:GP), the current Cyclically Adjusted PS Ratio is 2.05 as of Jul. 23, 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 Grameenphone (DHA:GP) Overvalued in 2026?

Based on GuruFocus' analysis, Grameenphone stock appears to be undervalued. The current stock price of BDT259.00 is trading 10.2% below its estimated GF Value™ of BDT288.27. GuruFocus considers Grameenphone to be Modestly Undervalued.

Key valuation signals for DHA:GP:

  • Cyclically Adjusted PS Ratio: 2.05 (23% below median its 10-year median of 2.65)
  • GF Value™: BDT288.27 vs. price of BDT259.00 (10.2% below fair value)
  • GF Score™: 93/100 with 6 warning signs
  • Industry Position: 76% above the Telecommunication Services median (#210 of 302)

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


Grameenphone Business Description

Address GPHouse, Basundhara, Baridhara, Dhaka, BGD, 1229
Grameenphone Ltd is a mobile telecommunication operator based in Bangladesh. It provides telecommunication services, including voice, data, and other related services. The company also offers international roaming services through international roaming agreements with various operators in Asia, Europe, Australia, America, and Africa. Its product and service categories include Value-added services, Internet, Devices, Prepaid, Roaming, Digital services, Postpaid, and others.
93GF Score

Get the complete analysis for DHA:GP

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

BDT259.00
Price
BDT288.27
GF Value