Manila Water Co (FRA:MWC0) Cyclically Adjusted PS Ratio: (As of Sep. 11, 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:MWC0 Manila Water Co Inc FRA:MWC0
89 GF Score
Price €11.70
GF Value €13.29
! 4 Warning Signs
View Full Analysis

What is Manila Water Co Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Manila Water Co  (FRA:MWC0) 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.


Manila Water Co Cyclically Adjusted PS Ratio Related Terms


Manila Water Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Manila Water Co'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.

Manila Water Co Cyclically Adjusted PS Ratio Chart

Manila Water Co 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 2.95 2.14 1.97 2.65 3.64

Manila Water Co 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 3.67 3.49 3.64 3.70 2.99

FRA:MWC0 vs : Cyclically Adjusted PS Ratio Comparison

For the Utilities - Regulated Water subindustry, Manila Water Co'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.


Manila Water Co Cyclically Adjusted PS Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Manila Water Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Manila Water Co's Cyclically Adjusted PS Ratio falls into.


FRA:MWC0
89GF Score
Manila Water Co Inc FRA:MWC0
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Manila Water Co 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.

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

For example, Manila Water Co'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)
=0.054/333.9520*333.9520
=0.054

Current CPI (Jun. 2026) = 333.9520.

Manila Water Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.021 241.428 0.029
201612 0.029 241.432 0.040
201703 0.027 243.801 0.037
201706 0.025 244.955 0.034
201709 0.032 246.819 0.043
201712 0.031 246.524 0.042
201803 0.024 249.554 0.032
201806 0.027 251.989 0.036
201809 0.026 252.439 0.034
201812 0.032 251.233 0.043
201903 0.025 254.202 0.033
201906 0.028 256.143 0.037
201909 0.029 256.759 0.038
201912 0.039 256.974 0.051
202003 0.036 258.115 0.047
202006 0.028 257.797 0.036
202009 0.028 260.280 0.036
202012 0.033 260.474 0.042
202103 0.023 264.877 0.029
202106 0.024 271.696 0.029
202109 0.019 274.310 0.023
202112 0.025 278.802 0.030
202203 0.025 287.504 0.029
202206 0.024 296.311 0.027
202209 0.032 296.808 0.036
202212 0.029 296.797 0.033
202303 0.035 301.836 0.039
202306 0.034 305.109 0.037
202309 0.032 307.789 0.035
202312 0.040 306.746 0.044
202403 0.047 312.332 0.050
202406 0.045 314.175 0.048
202409 0.043 315.301 0.046
202412 0.048 315.605 0.051
202503 0.051 319.799 0.053
202506 0.055 322.561 0.057
202509 0.047 324.800 0.048
202512 0.054 324.054 0.056
202603 0.056 330.213 0.057
202606 0.054 333.952 0.054

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 Manila Water Co (FRA:MWC0) Overvalued in 2026?

Based on GuruFocus' analysis, Manila Water Co stock appears to be undervalued. The current stock price of €11.70 is trading 12% below its estimated GF Value™ of €13.29.

Key valuation signals for FRA:MWC0:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €13.29 vs. price of €11.70 (12% below fair value)
  • GF Score™: 89/100 with 4 warning signs

No single metric tells the full story. See the FRA:MWC0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Manila Water Co Business Description

Comparable Companies
Other Exchanges MWTCY:USAMWC:Philippines
Address 489 Katipunan Road, 2nd Floor, MWSS Administration Building, Balara, Quezon, PHL, 1105
Manila Water Co Inc holds the exclusive right to provide water and used water services in the East Zone of Metro Manila under a concession agreement with the Metropolitan Waterworks and Sewerage System. The company delivers water treatment, distribution, sewerage, and sanitation services to a large population across residential, commercial, and industrial customers. Its service area covers several cities and municipalities in Metro Manila and nearby parts of Rizal, including urban centers such as Makati, Pasig, Quezon City, Taguig, and Marikina, along with surrounding towns.
89GF Score

Get the complete analysis for FRA:MWC0

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

€11.70
Price
€13.29
GF Value