Property For Industry (FRA:PWJ) Cyclically Adjusted PS Ratio: (As of Aug. 17, 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:PWJ Property For Industry Ltd FRA:PWJ
83 GF Score
Price €1.16
GF Value €1.11
! 8 Warning Signs
View Full Analysis

What is Property For Industry 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


Property For Industry  (FRA:PWJ) 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.


Property For Industry Cyclically Adjusted PS Ratio Related Terms


Property For Industry Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Property For Industry'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.

Property For Industry Cyclically Adjusted PS Ratio Chart

Property For Industry Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Jun25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 17.15 16.02 11.23 10.35 9.67

Property For Industry Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 10.35 0.00 0.00 9.67 0.00

FRA:PWJ vs PLD, PSA, EXR: Cyclically Adjusted PS Ratio Comparison

For the REIT - Industrial subindustry, Property For Industry'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.


Property For Industry Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Property For Industry's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Property For Industry's Cyclically Adjusted PS Ratio falls into.


FRA:PWJ
83GF Score
Property For Industry Ltd FRA:PWJ
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Property For Industry 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.

Property For Industry's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Jun25 is calculated as:

For example, Property For Industry's adjusted Revenue per Share data for the fiscal year that ended in Jun25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun25 (Change)*Current CPI (Jun25)
=0.133/133.5131*133.5131
=0.133

Current CPI (Jun25) = 133.5131.

Property For Industry Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201512 0.097 99.896 0.130
201612 0.104 101.230 0.137
201712 0.093 102.844 0.121
201812 0.107 104.786 0.136
201912 0.114 106.729 0.143
202012 0.112 108.262 0.138
202112 0.129 114.703 0.150
202212 0.132 122.983 0.143
202312 0.131 128.708 0.136
202506 0.133 133.513 0.133

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 Property For Industry (FRA:PWJ) Overvalued in 2026?

Based on GuruFocus' analysis, Property For Industry stock appears to be overvalued. The current stock price of €1.16 is trading 4.1% above its estimated GF Value™ of €1.11.

Key valuation signals for FRA:PWJ:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €1.11 vs. price of €1.16 (4.1% above fair value)
  • GF Score™: 83/100 with 8 warning signs

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


Property For Industry Business Description

Industry Real EstateREITs
Other Exchanges PFI:New Zealand
Address 15 Galway Street, Level 4, Hayman Kronfeld Building, Auckland, NZL, 1010
Property For Industry Ltd is a New Zealand-based industrial property investment company. The company's portfolio is predominantly composed of industrial properties. Its investment properties are solely located in New Zealand, with the majority in Auckland and the remaining in other New Zealand cities. Its tenants encompass large enterprises such as Fisher and Paykel Appliances, Fletcher Building Products, Brambles, and Cottonsoft, among others. Rental and management fee income represents nearly all of its operating revenue.
83GF Score

Get the complete analysis for FRA:PWJ

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

€1.16
Price
€1.11
GF Value