Zealand Pharma AS (FRA:22Z) Cyclically Adjusted PS Ratio: 17.26 (As of Jul. 30, 2026) — 51% 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.

FRA:22Z Zealand Pharma AS FRA:22Z
52 GF Score
Price €40.39
! 3 Warning Signs
View Full Analysis

What is Zealand Pharma AS Cyclically Adjusted PS Ratio?

Zealand Pharma AS FRA:22Z +2.10% 52 Cyclically Adjusted PS Ratio is 17.26 as of Jul. 30, 2026, which is 51% below its 10-year median of 35.06. GuruFocus rates FRA:22Z with a GF Score™ of 52/100. The stock has 3 warning signs investors should review. Among 538 Biotechnology companies, Zealand Pharma AS ranks worse than 78.62% on this metric.

As of today (2026-07-30), Zealand Pharma AS's current share price is €40.39. Zealand Pharma AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €2.34. Zealand Pharma AS's Cyclically Adjusted PS Ratio for today is 17.26.

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

FRA:22Z' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 13.32   Med: 35.06   Max: 179.43
Current: 17.21

During the past years, Zealand Pharma AS's highest Cyclically Adjusted PS Ratio was 179.43. The lowest was 13.32. And the median was 35.06.

FRA:22Z's Cyclically Adjusted PS Ratio is ranked worse than
78.62% of 538 companies
in the Biotechnology industry
Industry Median: 5.55 vs FRA:22Z: 17.21

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.

Zealand Pharma AS's adjusted revenue per share data for the three months ended in Mar. 2026 was €0.064. 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 €2.34 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Zealand Pharma AS  (FRA:22Z) 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.


Zealand Pharma AS Cyclically Adjusted PS Ratio Related Terms


Zealand Pharma AS Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Zealand Pharma 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.

Zealand Pharma AS Cyclically Adjusted PS Ratio Chart

Zealand Pharma 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 24.97 39.47 67.03 143.70 26.44

Zealand Pharma 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 103.19 19.35 24.92 26.44 16.64

FRA:22Z vs VRTX, REGN, RVMD: Cyclically Adjusted PS Ratio Comparison

For the Biotechnology subindustry, Zealand Pharma 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.


Zealand Pharma AS Cyclically Adjusted PS Ratio vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Zealand Pharma AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:22Z
52GF Score
Zealand Pharma AS FRA:22Z
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zealand Pharma 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.

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

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=40.39/2.34
=17.26

* 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.

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

For example, Zealand Pharma 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)
=0.064/121.6800*121.6800
=0.064

Current CPI (Mar. 2026) = 121.6800.

Zealand Pharma AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.045 100.600 0.054
201609 0.221 100.200 0.268
201612 0.930 100.300 1.128
201703 0.399 101.200 0.480
201706 0.052 101.200 0.063
201709 0.184 101.800 0.220
201712 0.044 101.300 0.053
201803 0.043 101.700 0.051
201806 0.066 102.300 0.079
201809 0.000 102.400 0.000
201812 0.057 102.100 0.068
201903 0.000 102.900 0.000
201906 0.084 102.900 0.099
201909 0.040 102.900 0.047
201912 0.042 102.900 0.050
202003 0.046 103.300 0.054
202006 0.798 103.200 0.941
202009 0.191 103.500 0.225
202012 -0.325 103.400 -0.382
202103 0.018 104.300 0.021
202106 0.114 105.000 0.132
202109 0.169 105.800 0.194
202112 0.042 106.600 0.048
202203 0.034 109.900 0.038
202206 0.077 113.600 0.082
202209 0.127 116.400 0.133
202212 0.063 115.900 0.066
202303 0.036 117.300 0.037
202306 0.024 116.400 0.025
202309 0.657 117.400 0.681
202312 0.053 116.700 0.055
202403 0.033 118.400 0.034
202406 0.073 118.500 0.075
202409 0.008 118.900 0.008
202412 0.017 118.900 0.017
202503 0.015 120.200 0.015
202506 16.987 120.700 17.125
202509 0.094 121.600 0.094
202512 0.129 121.200 0.130
202603 0.064 121.680 0.064

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 17.26 mean?
Zealand Pharma AS (FRA:22Z) has a Cyclically Adjusted PS Ratio of 17.26 as of Jul. 30, 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 Zealand Pharma AS and its competitors. This is 51% below median its historical median of 35.06. Over the past decade, Zealand Pharma AS's Cyclically Adjusted PS Ratio has ranged from 13.32 to 179.43. According to the industry distribution chart, Zealand Pharma AS ranks #423 out of 538 companies in the Biotechnology industry, placing it in the top 78.6%.
Is Zealand Pharma AS's Cyclically Adjusted PS Ratio too high?
Zealand Pharma AS's current Cyclically Adjusted PS Ratio of 17.26 is 51% below median its 10-year median of 35.06. Over the past 10 years, this metric has ranged from a low of 13.32 to a high of 179.43. The Biotechnology industry median Cyclically Adjusted PS Ratio is 5.55. Zealand Pharma AS's value of 17.26 is 211% above this industry median. Based on the distribution chart, Zealand Pharma AS ranks #423 out of 538 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Zealand Pharma AS has a GF Score™ of 52/100, reflecting its overall financial health beyond just this single metric.
How does Zealand Pharma AS's Cyclically Adjusted PS Ratio compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Zealand Pharma AS ranks #423 out of 538 companies for Cyclically Adjusted PS Ratio. This places Zealand Pharma AS in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 5.55. Zealand Pharma AS's value of 17.26 is 211% above this benchmark. Historically, Zealand Pharma AS's own Cyclically Adjusted PS Ratio has ranged from 13.32 to 179.43 over the past decade. While the company's 10-year median is 35.06 vs. the industry median of 5.55, Zealand Pharma 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 Biotechnology company?
The median Cyclically Adjusted PS Ratio among Biotechnology companies is 5.55, based on 538 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. Zealand Pharma AS's current Cyclically Adjusted PS Ratio of 17.26 is 211% 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 Zealand Pharma AS and its competitors. For the Biotechnology industry, the median Cyclically Adjusted PS Ratio is 5.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zealand Pharma AS's current Cyclically Adjusted PS Ratio is 17.26, which is 51% below median its own 10-year median of 35.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zealand Pharma AS stock overvalued right now?
Zealand Pharma AS (FRA:22Z) has a current Cyclically Adjusted PS Ratio of 17.26. The current Cyclically Adjusted PS Ratio is 17.26, which is 51% below median its 10-year median of 35.06 and 211% above the Biotechnology industry median of 5.55. Zealand Pharma AS's overall GF Score™ is 52/100 with 3 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 Zealand Pharma AS (FRA:22Z), the current Cyclically Adjusted PS Ratio is 17.26 as of Jul. 30, 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.

Zealand Pharma AS Business Description

Address Sydmarken 11, Soborg, DNK, DK-2860
Zealand Pharma AS is a biotechnology company. It is focused on the discovery, design, and development of peptide-based medicines. The company's product pipeline includes three product candidates in clinical development: glepaglutide, which is being developed to treat short bowel syndrome or SBS; dasiglucagon formulated for use in a dual-hormone artificial pancreas system for diabetes management; and dasiglucagon for use in the treatment of congenital hyperinsulinism. The company has out-licensed a peptide program to Boehringer Ingelheim that has been moved ahead into early clinical development: a once-weekly novel dual-acting GLP-1/glucagon agonist for the treatment of obesity and/or Type 2 diabetes.
52GF Score

Get the complete analysis for FRA:22Z

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

€40.39
Price