Puma SE (FRA:PUMA) Cyclically Adjusted PS Ratio: (As of Aug. 05, 2026)

Author: Vera Yuan Vera Yuan
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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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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:PUMA Puma SE FRA:PUMA
71 GF Score
Price €2.60
GF Value €2.99
Valuation Modestly Undervalued
! 8 Warning Signs
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What is Puma SE Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Puma SE  (FRA:PUMA) 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.


Puma SE Cyclically Adjusted PS Ratio Related Terms


Puma SE Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Puma SE'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.

Puma SE Cyclically Adjusted PS Ratio Chart

Puma SE 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 3.53 1.57 1.24 0.99 0.47

Puma SE 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 0.50 0.45 0.47 0.44 0.00

FRA:PUMA vs NKE, DECK, ONON: Cyclically Adjusted PS Ratio Comparison

For the Footwear & Accessories subindustry, Puma SE'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.


Puma SE Cyclically Adjusted PS Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Puma SE's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:PUMA
71GF Score
Puma SE FRA:PUMA
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Puma SE 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.

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

For example, Puma SE'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)
=1.147/131.3638*131.3638
=1.147

Current CPI (Jun. 2026) = 131.3638.

Puma SE Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.662 101.017 0.861
201612 0.641 101.217 0.832
201703 0.673 101.417 0.872
201706 0.646 102.117 0.831
201709 0.751 102.717 0.960
201712 0.696 102.617 0.891
201803 0.757 102.917 0.966
201806 0.702 104.017 0.887
201809 0.833 104.718 1.045
201812 0.820 104.217 1.034
201903 0.882 104.217 1.112
201906 0.815 105.718 1.013
201909 0.985 106.018 1.220
201912 0.989 105.818 1.228
202003 0.869 105.718 1.080
202006 0.556 106.618 0.685
202009 1.059 105.818 1.315
202012 1.016 105.518 1.265
202103 1.035 107.518 1.265
202106 1.062 108.486 1.286
202109 1.269 109.435 1.523
202112 1.181 110.384 1.405
202203 1.278 113.968 1.473
202206 1.330 115.760 1.509
202209 1.576 118.818 1.742
202212 1.467 119.345 1.615
202303 1.460 122.402 1.567
202306 1.427 123.140 1.522
202309 1.542 124.195 1.631
202312 1.321 123.773 1.402
202403 1.402 125.038 1.473
202406 1.415 125.882 1.477
202409 1.544 126.198 1.607
202412 1.256 127.041 1.299
202503 1.343 127.779 1.381
202506 1.267 128.412 1.296
202509 1.325 129.255 1.347
202512 0.897 129.361 0.911
202603 1.265 131.258 1.266
202606 1.147 131.364 1.147

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 Puma SE (FRA:PUMA) Overvalued in 2026?

Based on GuruFocus' analysis, Puma SE stock appears to be undervalued. The current stock price of €2.60 is trading 13% below its estimated GF Value™ of €2.99. GuruFocus considers Puma SE to be Modestly Undervalued.

Key valuation signals for FRA:PUMA:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €2.99 vs. price of €2.60 (13% below fair value)
  • GF Score™: 71/100 with 8 warning signs

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


Puma SE Business Description

Address Puma Way 1, Herzogenaurach, BY, DEU, 91074
Puma designs and markets footwear, apparel, and accessories under its own name and golf clubs and golf accessories under the Cobra Golf name. Footwear (56% of 2025 sales) is its largest category, followed by apparel (32%) and accessories (12%). Puma also licenses its name for fragrances, eyewear, and watches. Most of its sales are through wholesale partners (68% of 2025 sales), with the rest through approximately 1,000 owned retail and outlet stores and online channels. The company's products are sold in Europe, the Middle East, and Africa (43% of 2025 sales), the Americas (35%), and Asia-Pacific (22%). China-based competitor Anta is in the process of acquiring 29% of Puma's outstanding shares.
71GF Score

Get the complete analysis for FRA:PUMA

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

€2.60
Price
€2.99
GF Value