Immobel (FRA:R5L) 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.
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:R5L Immobel FRA:R5L
65 GF Score
Price €18.90
GF Value €28.29
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Immobel Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Immobel  (FRA:R5L) 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.


Immobel Cyclically Adjusted PS Ratio Related Terms


Immobel Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Immobel'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.

Immobel Cyclically Adjusted PS Ratio Chart

Immobel 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 - 1.44 0.90 0.51 0.62

Immobel Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 0.76 0.50 0.54 0.62 0.60

Immobel Cyclically Adjusted PS Ratio Competitor Comparison

For the Real Estate - Development subindustry, Immobel'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.


Immobel Cyclically Adjusted PS Ratio vs Real Estate Industry

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

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


FRA:R5L
65GF Score
Immobel FRA:R5L
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Immobel 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.

Immobel's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Immobel's adjusted Revenue per Share data for the fiscal year that ended in Dec25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=31.68/135.0800*135.0800
=31.680

Current CPI (Dec25) = 135.0800.

Immobel Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 29.905 102.614 39.367
201712 16.539 104.804 21.317
201812 35.696 107.252 44.958
201912 46.480 108.065 58.100
202012 39.168 108.511 48.758
202112 38.081 114.705 44.845
202212 22.785 126.578 24.316
202312 15.306 128.292 16.116
202412 36.877 132.346 37.639
202512 31.680 135.080 31.680

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 Immobel (FRA:R5L) Overvalued in 2026?

Based on GuruFocus' analysis, Immobel stock appears to be undervalued. The current stock price of €18.90 is trading 33.2% below its estimated GF Value™ of €28.29. GuruFocus considers Immobel to be Possible Value Trap.

Key valuation signals for FRA:R5L:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €28.29 vs. price of €18.90 (33.2% below fair value)
  • GF Score™: 65/100 with 6 warning signs

No single metric tells the full story. See the FRA:R5L stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Immobel Business Description

Other Exchanges 0NC0:UKIMMO:Belgium
Address Boulevard Anspach 1, Brussels, BEL, 1000
Immobel develops mixed real estate with a variety of functions such as living, working, shopping, and leisure. Its project portfolio includes residential, offices, and land banking. The company's real estate development, is carried out in Belgium, Luxembourg, France, Germany, Poland, Spain and the United Kingdom. It derives maximum revenue from Belgium. Its Projects include: Sablon, O'Sea, Brouck'r, Oxy, Kiem 2050, Eden, The Commodore, Saint-Antoine, Canal 44, Heros, Tati-La Passerelle Neo Barbes, Ilot Saint-Roch, The Frame, Slachthuissite and Others.
65GF Score

Get the complete analysis for FRA:R5L

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

€18.90
Price
€28.29
GF Value