Iren SpA (FRA:TZ8) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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:TZ8 Iren SpA FRA:TZ8
71 GF Score
Price €2.45
GF Value €2.26
Valuation Fairly Valued
! 5 Warning Signs
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What is Iren SpA Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Iren SpA  (FRA:TZ8) 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.


Iren SpA Cyclically Adjusted PS Ratio Related Terms


Iren SpA Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Iren SpA'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.

Iren SpA Cyclically Adjusted PS Ratio Chart

Iren SpA 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 0.87 0.41 0.52 0.47 0.59

Iren SpA 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 0.63 0.63 0.60 0.56 0.55

FRA:TZ8 vs SRE: Cyclically Adjusted PS Ratio Comparison

For the Utilities - Diversified subindustry, Iren SpA'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.


Iren SpA Cyclically Adjusted PS Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Iren SpA's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


FRA:TZ8
71GF Score
Iren SpA FRA:TZ8
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Iren SpA 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.

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

For example, Iren SpA'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)
=1.036/126.4000*126.4000
=1.036

Current CPI (Jun. 2026) = 126.4000.

Iren SpA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.495 100.100 0.625
201612 0.772 100.300 0.973
201703 0.794 101.000 0.994
201706 0.535 101.100 0.669
201709 0.570 101.200 0.712
201712 0.785 101.200 0.980
201803 0.788 101.800 0.978
201806 0.589 102.400 0.727
201809 0.645 102.600 0.795
201812 0.886 102.300 1.095
201903 0.950 102.800 1.168
201906 0.707 103.100 0.867
201909 0.700 102.900 0.860
201912 0.787 102.800 0.968
202003 0.803 102.900 0.986
202006 0.544 102.900 0.668
202009 0.588 102.300 0.727
202012 0.807 102.600 0.994
202103 0.853 103.700 1.040
202106 0.679 104.200 0.824
202109 0.818 104.900 0.986
202112 1.410 106.600 1.672
202203 1.679 110.400 1.922
202206 1.166 112.500 1.310
202209 1.457 114.200 1.613
202212 1.643 119.000 1.745
202303 1.530 118.800 1.628
202306 0.889 119.700 0.939
202309 1.073 120.300 1.127
202312 1.420 119.700 1.499
202403 1.203 120.200 1.265
202406 0.853 120.700 0.893
202409 1.115 121.200 1.163
202412 1.431 121.200 1.492
202503 1.603 122.500 1.654
202506 1.014 122.700 1.045
202509 1.023 123.100 1.050
202512 1.296 122.600 1.336
202603 1.385 124.560 1.405
202606 1.036 126.400 1.036

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 Iren SpA (FRA:TZ8) Overvalued in 2026?

Based on GuruFocus' analysis, Iren SpA stock appears to be overvalued. The current stock price of €2.45 is trading 8.6% above its estimated GF Value™ of €2.26. GuruFocus considers Iren SpA to be Fairly Valued.

Key valuation signals for FRA:TZ8:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €2.26 vs. price of €2.45 (8.6% above fair value)
  • GF Score™: 71/100 with 5 warning signs

No single metric tells the full story. See the FRA:TZ8 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Iren SpA Business Description

Address Via Nubi di Magellano, 30, Reggio Emilia, ITA, 42123
Iren SpA is a multi-service Italian utilities holding company that produces and distributes electricity and natural gas. It also provides district heating, water, and environmental services. Iren has five operating companies that include Iren Acqua Gas, Iren Energia (electricity and thermal production), Iren Mercato (sale of electricity, gas, and district heating), Iren Emilia (gas distribution), and Iren Ambiente (environmental services). The company primarily uses hydroelectric, cogeneration, and wind power as energy sources. The majority of revenue is derived from the distribution and sale of electricity and natural gas products and services.
71GF Score

Get the complete analysis for FRA:TZ8

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

€2.45
Price
€2.26
GF Value