Cellnex Telecom (FRA:4720) Cyclically Adjusted PS Ratio: (As of Jul. 31, 2026)

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:4720 Cellnex Telecom SA FRA:4720
78 GF Score
Price €13.00
GF Value €15.36
! 6 Warning Signs
View Full Analysis

What is Cellnex Telecom Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Cellnex Telecom  (FRA:4720) 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.


Cellnex Telecom Cyclically Adjusted PS Ratio Related Terms


Cellnex Telecom Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Cellnex Telecom'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.

Cellnex Telecom Cyclically Adjusted PS Ratio Chart

Cellnex Telecom 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 0.00 0.00 9.85 7.33 5.89

Cellnex Telecom 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 7.44 6.58 5.89 5.79 0.00

FRA:4720 vs CBRE, BEKE, JLL: Cyclically Adjusted PS Ratio Comparison

For the Real Estate Services subindustry, Cellnex Telecom'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.


Cellnex Telecom Cyclically Adjusted PS Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Cellnex Telecom's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:4720
78GF Score
Cellnex Telecom SA FRA:4720
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cellnex Telecom 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.

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

For example, Cellnex Telecom'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)
=0.81/130.5100*130.5100
=0.810

Current CPI (Jun. 2026) = 130.5100.

Cellnex Telecom Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.330 99.737 0.432
201612 0.247 101.842 0.317
201703 0.312 100.896 0.404
201706 0.282 101.848 0.361
201709 0.356 101.524 0.458
201712 0.295 102.975 0.374
201803 0.355 102.122 0.454
201806 0.339 104.165 0.425
201809 0.401 103.818 0.504
201812 0.331 104.193 0.415
201903 0.326 103.488 0.411
201906 0.311 104.612 0.388
201909 0.316 103.905 0.397
201912 0.277 105.015 0.344
202003 0.401 103.469 0.506
202006 0.387 104.254 0.484
202009 0.423 103.521 0.533
202012 0.394 104.456 0.492
202103 0.373 104.857 0.464
202106 0.376 107.102 0.458
202109 0.546 107.669 0.662
202112 0.500 111.298 0.586
202203 0.611 115.153 0.692
202206 0.556 118.044 0.615
202209 0.706 117.221 0.786
202212 0.479 117.650 0.531
202303 0.629 118.948 0.690
202306 0.696 120.278 0.755
202309 0.651 121.343 0.700
202312 1.371 121.300 1.475
202403 0.670 122.762 0.712
202406 0.735 124.409 0.771
202409 0.696 123.121 0.738
202412 1.445 124.753 1.512
202503 0.693 125.531 0.720
202506 0.763 127.251 0.783
202509 0.729 126.840 0.750
202512 0.878 128.400 0.892
202603 0.731 129.860 0.735
202606 0.810 130.510 0.810

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 Cellnex Telecom (FRA:4720) Overvalued in 2026?

Based on GuruFocus' analysis, Cellnex Telecom stock appears to be undervalued. The current stock price of €13.00 is trading 15.4% below its estimated GF Value™ of €15.36.

Key valuation signals for FRA:4720:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €15.36 vs. price of €13.00 (15.4% below fair value)
  • GF Score™: 78/100 with 6 warning signs

No single metric tells the full story. See the FRA:4720 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Cellnex Telecom Business Description

Address Paseo Zona Franca, 105, Barcelona, ESP, 08038
Cellnex owns and operates more than 100,000 wireless towers in Europe, the result of continued merger and acquisition activity since its initial public offering in 2015. It has acquired towers from several European mobile network operators, including Telefonica, Iliad, CK Hutchison, Bouygues, and Altice. Cellnex is present in France, Italy, Spain, Poland, and the United Kingdom, among others.
78GF Score

Get the complete analysis for FRA:4720

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

€13.00
Price
€15.36
GF Value