Retail Estates (FRA:R6N) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan 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.
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:R6N Retail Estates SA FRA:R6N
71 GF Score
Price €64.30
GF Value €61.93
Valuation Fairly Valued
! 8 Warning Signs
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What is Retail Estates Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Retail Estates  (FRA:R6N) 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.


Retail Estates Cyclically Adjusted PS Ratio Related Terms


Retail Estates Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Retail Estates'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.

Retail Estates Cyclically Adjusted PS Ratio Chart

Retail Estates Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7.70 6.35 6.04 5.42 5.81

Retail Estates Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
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 5.98 6.06 5.36 5.64 5.75

FRA:R6N vs SPG, O, KIM: Cyclically Adjusted PS Ratio Comparison

For the REIT - Retail subindustry, Retail Estates'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.


Retail Estates Cyclically Adjusted PS Ratio vs REITs Industry

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

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


FRA:R6N
71GF Score
Retail Estates SA FRA:R6N
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Retail Estates 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.

Retail Estates's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Mar26 is calculated as:

For example, Retail Estates's adjusted Revenue per Share data for the fiscal year that ended in Mar26 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar26 (Change)*Current CPI (Mar26)
=10.802/136.5700*136.5700
=10.802

Current CPI (Mar26) = 136.5700.

Retail Estates Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201703 8.078 103.972 10.611
201803 9.042 105.419 11.714
201903 9.393 107.876 11.891
202003 9.712 108.550 12.219
202103 8.947 109.522 11.157
202203 9.907 118.620 11.406
202303 9.983 126.528 10.775
202403 10.784 130.552 11.281
202503 10.869 134.348 11.049
202603 10.802 136.570 10.802

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 Retail Estates (FRA:R6N) Overvalued in 2026?

Based on GuruFocus' analysis, Retail Estates stock appears to be overvalued. The current stock price of €64.30 is trading 3.8% above its estimated GF Value™ of €61.93. GuruFocus considers Retail Estates to be Fairly Valued.

Key valuation signals for FRA:R6N:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €61.93 vs. price of €64.30 (3.8% above fair value)
  • GF Score™: 71/100 with 8 warning signs

No single metric tells the full story. See the FRA:R6N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Retail Estates Business Description

Industry Real EstateREITs
Other Exchanges 0FSO:UKRET:Belgium
Address Industrielaan 6, Ternat, BEL, 1740
Retail Estates SA is a real estate investment trust that invests mainly in retail properties. It is a niche player specialised in making out-of town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users. It has distinguished between two geographical segments: Belgium and the Netherlands. The majority of revenue comes from Belgium.
71GF Score

Get the complete analysis for FRA:R6N

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

€64.30
Price
€61.93
GF Value