American Public Education (FRA:51A) 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.

FRA:51A American Public Education Inc FRA:51A
71 GF Score
Price €37.00
GF Value €19.58
Valuation Significantly Overvalued
! 3 Warning Signs
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What is American Public Education Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


American Public Education  (FRA:51A) 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.


American Public Education Cyclically Adjusted PS Ratio Related Terms


American Public Education Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for American Public Education'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.

American Public Education Cyclically Adjusted PS Ratio Chart

American Public Education 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 1.20 0.43 0.39 0.84 1.21

American Public Education 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 0.99 1.25 1.20 1.81 1.68

FRA:51A vs LINC, PXED, UTI: Cyclically Adjusted PS Ratio Comparison

For the Education & Training Services subindustry, American Public Education'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.


American Public Education Cyclically Adjusted PS Ratio vs Education Industry

For the Education industry and Consumer Defensive sector, American Public Education's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:51A
71GF Score
American Public Education Inc FRA:51A
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

American Public Education 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.

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

For example, American Public Education'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)
=7.852/333.9520*333.9520
=7.852

Current CPI (Jun. 2026) = 333.9520.

American Public Education Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 4.074 241.428 5.635
201612 4.476 241.432 6.191
201703 4.351 243.801 5.960
201706 4.010 244.955 5.467
201709 3.813 246.819 5.159
201712 4.028 246.524 5.457
201803 3.689 249.554 4.937
201806 3.671 251.989 4.865
201809 3.767 252.439 4.983
201812 4.048 251.233 5.381
201903 3.882 254.202 5.100
201906 3.771 256.143 4.917
201909 3.824 256.759 4.974
201912 4.317 256.974 5.610
202003 4.481 258.115 5.798
202006 4.989 257.797 6.463
202009 4.513 260.280 5.790
202012 4.777 260.474 6.125
202103 4.476 264.877 5.643
202106 3.437 271.696 4.225
202109 4.457 274.310 5.426
202112 7.146 278.802 8.560
202203 7.307 287.504 8.487
202206 7.425 296.311 8.368
202209 7.844 296.808 8.826
202212 7.880 296.797 8.866
202303 7.350 301.836 8.132
202306 7.543 305.109 8.256
202309 7.799 307.789 8.462
202312 7.942 306.746 8.646
202403 8.126 312.332 8.688
202406 8.057 314.175 8.564
202409 7.884 315.301 8.350
202412 8.377 315.605 8.864
202503 8.489 319.799 8.865
202506 7.963 322.561 8.244
202509 7.447 324.800 7.657
202512 7.236 324.054 7.457
202603 7.943 330.213 8.033
202606 7.852 333.952 7.852

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 American Public Education (FRA:51A) Overvalued in 2026?

Based on GuruFocus' analysis, American Public Education stock appears to be overvalued. The current stock price of €37.00 is trading 89% above its estimated GF Value™ of €19.58. GuruFocus considers American Public Education to be Significantly Overvalued.

Key valuation signals for FRA:51A:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €19.58 vs. price of €37.00 (89% above fair value)
  • GF Score™: 71/100 with 3 warning signs

No single metric tells the full story. See the FRA:51A stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


American Public Education Business Description

Other Exchanges APEI:USA
Address 111 West Congress Street, Charles Town, WV, USA, 25414
American Public Education Inc provides online and campus based postsecondary education including various undergraduate and graduate degree programs. The fields of study include business administration, health science, technology, criminal justice, education, liberal arts, national security, military studies, intelligence, and homeland security. There are three reporting segments: the American Public University segment which is the key revenue generator, provides online postsecondary education as a distance-learning, graduate-level institution for military officers seeking a degree in military studies; the Rasmussen University Segment and the Hondros College of Nursing segment. The revenue is generated from net course registrations and enrollment, tuition rate, net tuition, and other fees.
71GF Score

Get the complete analysis for FRA:51A

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

€37.00
Price
€19.58
GF Value