Kinross Gold (FRA:KIN2) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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:KIN2 Kinross Gold Corp FRA:KIN2
89 GF Score
Price €24.63
GF Value €17.54
Valuation Significantly Overvalued
! 1 Warning Sign
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What is Kinross Gold Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Kinross Gold  (FRA:KIN2) 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.


Kinross Gold Cyclically Adjusted PS Ratio Related Terms


Kinross Gold Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Kinross Gold'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.

Kinross Gold Cyclically Adjusted PS Ratio Chart

Kinross Gold 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 1.83 1.41 1.92 2.98 7.52

Kinross Gold 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 4.17 6.54 7.48 7.70 5.87

FRA:KIN2 vs NEM, AU: Cyclically Adjusted PS Ratio Comparison

For the Gold subindustry, Kinross Gold'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.


Kinross Gold Cyclically Adjusted PS Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Kinross Gold's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:KIN2
89GF Score
Kinross Gold Corp FRA:KIN2
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Kinross Gold 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.

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

For example, Kinross Gold'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)
=1.612/133.5265*133.5265
=1.612

Current CPI (Jun. 2026) = 133.5265.

Kinross Gold Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.649 101.765 0.852
201612 0.672 101.449 0.884
201703 0.595 102.634 0.774
201706 0.628 103.029 0.814
201709 0.561 103.345 0.725
201712 0.538 103.345 0.695
201803 0.580 105.004 0.738
201806 0.517 105.557 0.654
201809 0.518 105.636 0.655
201812 0.551 105.399 0.698
201903 0.550 106.979 0.686
201906 0.591 107.690 0.733
201909 0.624 107.611 0.774
201912 0.718 107.769 0.890
202003 0.631 107.927 0.781
202006 0.721 108.401 0.888
202009 0.763 108.164 0.942
202012 0.793 108.559 0.975
202103 0.503 110.298 0.609
202106 0.463 111.720 0.553
202109 0.392 112.905 0.464
202112 0.432 113.774 0.507
202203 0.494 117.646 0.561
202206 0.593 120.806 0.655
202209 0.648 120.648 0.717
202212 0.864 120.964 0.954
202303 0.700 122.702 0.762
202306 0.810 124.203 0.871
202309 0.819 125.230 0.873
202312 0.845 125.072 0.902
202403 0.804 126.258 0.850
202406 0.918 127.522 0.961
202409 1.056 127.285 1.108
202412 1.080 127.364 1.132
202503 1.153 129.181 1.192
202506 1.240 129.892 1.275
202509 1.264 130.287 1.295
202512 1.438 130.366 1.473
202603 1.709 132.262 1.725
202606 1.612 133.527 1.612

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 Kinross Gold (FRA:KIN2) Overvalued in 2026?

Based on GuruFocus' analysis, Kinross Gold stock appears to be overvalued. The current stock price of €24.63 is trading 40.4% above its estimated GF Value™ of €17.54. GuruFocus considers Kinross Gold to be Significantly Overvalued.

Key valuation signals for FRA:KIN2:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €17.54 vs. price of €24.63 (40.4% above fair value)
  • GF Score™: 89/100 with 1 warning sign

No single metric tells the full story. See the FRA:KIN2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Kinross Gold Business Description

Address 25 York Street, 17th Floor, Toronto, ON, CAN, M5J 2V5
Kinross Gold is a Canada-based gold producer, producing roughly 2 million gold equivalent ounces in 2025. The company had about a decade of gold reserves at the end of 2025. It operates mines in the Americas and West Africa after selling its low-cost Russian operations in 2022 in response to the invasion of Ukraine. Kinross has historically used acquisitions to fuel expansion into new regions and production growth. In 2022, Kinross purchased the Great Bear project in Canada. If developed as we think likely, it could produce an average of more than 500,000 ounces of gold per year for at least a decade, with its unit cash costs likely in the first quartile of the industry cost curve. Though Great Bear's production is likely to be replacement ounces for falling volumes at other mines.
89GF Score

Get the complete analysis for FRA:KIN2

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

€24.63
Price
€17.54
GF Value