Thai Beverage (FRA:T6W) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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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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:T6W Thai Beverage PLC FRA:T6W
62 GF Score
Price €0.28
GF Value €0.32
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Thai Beverage Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Thai Beverage  (FRA:T6W) 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.


Thai Beverage Cyclically Adjusted PS Ratio Related Terms


Thai Beverage Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Thai Beverage'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.

Thai Beverage Cyclically Adjusted PS Ratio Chart

Thai Beverage Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - 1.20 0.93

Thai Beverage 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 1.16 1.20 1.18 0.93 0.83

FRA:T6W vs BF.B: Cyclically Adjusted PS Ratio Comparison

For the Beverages - Wineries & Distilleries subindustry, Thai Beverage'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.


Thai Beverage Cyclically Adjusted PS Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Thai Beverage's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:T6W
62GF Score
Thai Beverage PLC FRA:T6W
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Thai Beverage 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.

Thai Beverage's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Sep25 is calculated as:

For example, Thai Beverage's adjusted Revenue per Share data for the fiscal year that ended in Sep25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Sep25 (Change)*Current CPI (Sep25)
=0.36/324.8000*324.8000
=0.360

Current CPI (Sep25) = 324.8000.

Thai Beverage Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.141 241.428 0.190
201709 0.198 246.819 0.261
201809 0.238 252.439 0.306
201909 0.298 256.759 0.377
202009 0.289 260.280 0.361
202109 0.256 274.310 0.303
202209 0.292 296.808 0.320
202309 0.355 307.789 0.375
202409 0.350 315.301 0.361
202509 0.360 324.800 0.360

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 Thai Beverage (FRA:T6W) Overvalued in 2026?

Based on GuruFocus' analysis, Thai Beverage stock appears to be undervalued. The current stock price of €0.28 is trading 11.4% below its estimated GF Value™ of €0.32. GuruFocus considers Thai Beverage to be Modestly Undervalued.

Key valuation signals for FRA:T6W:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €0.32 vs. price of €0.28 (11.4% below fair value)
  • GF Score™: 62/100 with 4 warning signs

No single metric tells the full story. See the FRA:T6W stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Thai Beverage Business Description

Other Exchanges TBVPF:USAY92:Singapore
Address 14 Vibhavadi Rangsit Road, Chomphon Sub-District, Chatuchak District, Bangkok, THA, 10900
Thai Beverage PLC is a Thailand-based company engaged in producing and distributing alcoholic and non-alcoholic beverages and food. The company's operating segments include Spirits; production and sales of branded spirits products and soda. Beer: production and sales of raw materials, branded beer products, Chang soda and Chang water. Non-alcoholic beverages: production and sales of branded water, ready-to-drink coffee, energy drink, green tea, fruit flavored drinks and dairy products. Food: restaurants and distribution of food and beverages; and Others: publishing and printing. Key revenue is generated from Beer. It operates in Thailand, which generates the majority of revenue, Vietnam, Malaysia, Myanmar, Singapore and others.
62GF Score

Get the complete analysis for FRA:T6W

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

€0.28
Price
€0.32
GF Value