FISI (Financial Institutions) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.

FISI Financial Institutions Inc FISI
55 GF Score
Price $40.83
GF Value $30.06
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Financial Institutions Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Financial Institutions  (NAS:FISI) 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.


Financial Institutions Cyclically Adjusted PS Ratio Related Terms


Financial Institutions Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Financial Institutions'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.

Financial Institutions Cyclically Adjusted PS Ratio Chart

Financial Institutions 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 2.92 2.05 1.70 2.19 2.44

Financial Institutions 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 2.00 2.10 2.42 2.42 2.94

FISI vs HBIA, SMBC, PGC: Cyclically Adjusted PS Ratio Comparison

For the Banks - Regional subindustry, Financial Institutions'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.


Financial Institutions Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Financial Institutions's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FISI
55GF Score
Financial Institutions Inc FISI
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Financial Institutions 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.

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

For example, Financial Institutions'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)
=3.206/333.9520*333.9520
=3.206

Current CPI (Jun. 2026) = 333.9520.

Financial Institutions Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.374 241.428 3.284
201612 2.384 241.432 3.298
201703 2.400 243.801 3.287
201706 2.409 244.955 3.284
201709 2.420 246.819 3.274
201712 2.453 246.524 3.323
201803 2.387 249.554 3.194
201806 2.410 251.989 3.194
201809 2.508 252.439 3.318
201812 2.556 251.233 3.398
201903 2.535 254.202 3.330
201906 2.597 256.143 3.386
201909 2.730 256.759 3.551
201912 2.596 256.974 3.374
202003 2.622 258.115 3.392
202006 2.637 257.797 3.416
202009 2.869 260.280 3.681
202012 2.884 260.474 3.698
202103 3.011 264.877 3.796
202106 3.034 271.696 3.729
202109 3.093 274.310 3.765
202112 3.215 278.802 3.851
202203 3.157 287.504 3.667
202206 3.384 296.311 3.814
202209 3.609 296.808 4.061
202212 3.454 296.797 3.886
202303 3.368 301.836 3.726
202306 3.415 305.109 3.738
202309 3.334 307.789 3.617
202312 3.523 306.746 3.835
202403 3.247 312.332 3.472
202406 4.116 314.175 4.375
202409 3.166 315.301 3.353
202412 -3.058 315.605 -3.236
202503 2.789 319.799 2.912
202506 2.912 322.561 3.015
202509 3.087 324.800 3.174
202512 3.074 324.054 3.168
202603 3.122 330.213 3.157
202606 3.206 333.952 3.206

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 Financial Institutions (FISI) Overvalued in 2026?

Based on GuruFocus' analysis, Financial Institutions stock appears to be overvalued. The current stock price of $40.83 is trading 35.8% above its estimated GF Value™ of $30.06. GuruFocus considers Financial Institutions to be Significantly Overvalued.

Key valuation signals for FISI:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $30.06 vs. price of $40.83 (35.8% above fair value)
  • GF Score™: 55/100 with 7 warning signs

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


Financial Institutions Business Description

Other Exchanges FIISO.PFD:USA
Address 220 Liberty Street, Warsaw, NY, USA, 14569
Financial Institutions Inc operates through its subsidiaries, providing full range of banking services to consumer, commercial and municipal customers in Western and Central New York, and commercial loans in the Mid-Atlantic region, through a loan production office in Ellicott City, Maryland. It offers a broad range of loans including commercial business and revolving lines of credit, commercial mortgages, equipment loans, residential mortgage loans and home equity loans and lines of credit, automobile loans and personal loans. It operates in single segment of Banking.
55GF Score

Get the complete analysis for FISI

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

$40.83
Price
$30.06
GF Value