Koc Holding AS (FRA:KRKA) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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.
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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:KRKA Koc Holding AS FRA:KRKA
92 GF Score
Price €18.80
GF Value €21.61
Valuation Modestly Undervalued
! 10 Warning Signs
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What is Koc Holding AS Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Koc Holding AS  (FRA:KRKA) 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.


Koc Holding AS Cyclically Adjusted PS Ratio Related Terms


Koc Holding AS Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Koc Holding 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.

Koc Holding AS Cyclically Adjusted PS Ratio Chart

Koc Holding 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 0.19 0.31 0.29 0.30 0.18

Koc Holding AS 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 0.20 0.18 0.17 0.18 0.22

FRA:KRKA vs MMM, HON: Cyclically Adjusted PS Ratio Comparison

For the Conglomerates subindustry, Koc Holding 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.


Koc Holding AS Cyclically Adjusted PS Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Koc Holding AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:KRKA
92GF Score
Koc Holding AS FRA:KRKA
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Koc Holding 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.

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

For example, Koc Holding AS'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)
=33.699/333.9520*333.9520
=33.699

Current CPI (Jun. 2026) = 333.9520.

Koc Holding AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 241.428 0.000
201612 11.775 241.432 16.287
201703 11.145 243.801 15.266
201706 11.621 244.955 15.843
201709 12.370 246.819 16.737
201712 12.129 246.524 16.430
201803 10.339 249.554 13.836
201806 12.591 251.989 16.686
201809 13.718 252.439 18.148
201812 12.485 251.233 16.596
201903 11.066 254.202 14.538
201906 12.110 256.143 15.789
201909 12.301 256.759 15.999
201912 12.103 256.974 15.729
202003 11.541 258.115 14.932
202006 9.010 257.797 11.672
202009 12.085 260.280 15.506
202012 12.194 260.474 15.634
202103 12.671 264.877 15.975
202106 14.557 271.696 17.893
202109 17.932 274.310 21.831
202112 18.833 278.802 22.558
202203 19.144 287.504 22.237
202206 27.424 296.311 30.908
202209 28.493 296.808 32.059
202212 26.494 296.797 29.811
202303 21.773 301.836 24.090
202306 23.040 305.109 25.218
202309 26.802 307.789 29.080
202312 46.202 306.746 50.300
202403 26.450 312.332 28.281
202406 39.848 314.175 42.356
202409 40.020 315.301 42.387
202412 35.179 315.605 37.224
202503 27.804 319.799 29.034
202506 27.222 322.561 28.183
202509 28.509 324.800 29.312
202512 32.177 324.054 33.160
202603 28.460 330.213 28.782
202606 33.699 333.952 33.699

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 Koc Holding AS (FRA:KRKA) Overvalued in 2026?

Based on GuruFocus' analysis, Koc Holding AS stock appears to be undervalued. The current stock price of €18.80 is trading 13% below its estimated GF Value™ of €21.61. GuruFocus considers Koc Holding AS to be Modestly Undervalued.

Key valuation signals for FRA:KRKA:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €21.61 vs. price of €18.80 (13% below fair value)
  • GF Score™: 92/100 with 10 warning signs

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


Koc Holding AS Business Description

Other Exchanges KHOLY:USAKCHOL:Turkey
Address Nakkastepe Azizbey Sokak No.1, Kuzguncuk-Uskuda, Uskudar, Istanbul, TUR, 34674
Koc Holding AS is a Turkish conglomerate. The group's businesses operate in the energy refining, fuel distribution, liquefied petroleum gas distribution, power generation, natural gas, automotive, automotive retailing, farm tractors, defense, white goods, consumer electronics, air conditioning, banking, leasing, REIT, factoring, brokerage, asset-management, consumer finance, food production, food production distribution, do-it-yourself retailing, tourism, marina operations, information technology, and ship and yacht construction industries. The company operates five core business segments: Energy, Automotive, Consumer durables, Finance, and Other. The majority segment by sales is energy, containing the fuel distribution, refining, and power generation businesses.
92GF Score

Get the complete analysis for FRA:KRKA

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

€18.80
Price
€21.61
GF Value