BW LPG (HAM:1PE) Cyclically Adjusted PS Ratio: 1.59 (As of Jul. 22, 2026) — 14% Above Median

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.

HAM:1PE BW LPG Ltd HAM:1PE
66 GF Score
Price €18.34
GF Value €12.67
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is BW LPG Cyclically Adjusted PS Ratio?

BW LPG HAM:1PE +3.44% 66 Cyclically Adjusted PS Ratio is 1.59 as of Jul. 22, 2026, which is 14% above its 10-year median of 1.39. GuruFocus rates HAM:1PE with a GF Score™ of 66/100 and a GF Value™ of €12.67 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 707 Oil & Gas companies, BW LPG ranks worse than 60.82% on this metric.

As of today (2026-07-22), BW LPG's current share price is €18.34. BW LPG's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €11.53. BW LPG's Cyclically Adjusted PS Ratio for today is 1.59.

The historical rank and industry rank for BW LPG's Cyclically Adjusted PS Ratio or its related term are showing as below:

HAM:1PE' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.83   Med: 1.39   Max: 2.49
Current: 1.6

During the past years, BW LPG's highest Cyclically Adjusted PS Ratio was 2.49. The lowest was 0.83. And the median was 1.39.

HAM:1PE's Cyclically Adjusted PS Ratio is ranked worse than
60.82% of 707 companies
in the Oil & Gas industry
Industry Median: 1.03 vs HAM:1PE: 1.60

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

BW LPG's adjusted revenue per share data for the three months ended in Mar. 2026 was €4.787. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is €11.53 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


BW LPG  (HAM:1PE) 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.


BW LPG Cyclically Adjusted PS Ratio Related Terms


BW LPG Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for BW LPG'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.

BW LPG Cyclically Adjusted PS Ratio Chart

BW LPG 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 1.08 1.35 1.93 1.20 1.05

BW LPG Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 1.03 1.02 1.17 1.05 1.30

HAM:1PE vs WMB, EPD, KMI: Cyclically Adjusted PS Ratio Comparison

For the Oil & Gas Midstream subindustry, BW LPG'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.


BW LPG Cyclically Adjusted PS Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, BW LPG's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


HAM:1PE
66GF Score
BW LPG Ltd HAM:1PE
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BW LPG 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.

BW LPG's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=18.34/11.53
=1.59

* 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.

BW LPG's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, BW LPG's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=4.787/330.2130*330.2130
=4.787

Current CPI (Mar. 2026) = 330.2130.

BW LPG Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.796 241.018 1.091
201609 0.681 241.428 0.931
201612 0.788 241.432 1.078
201703 0.881 243.801 1.193
201706 0.878 244.955 1.184
201709 0.604 246.819 0.808
201712 0.728 246.524 0.975
201803 0.572 249.554 0.757
201806 0.662 251.989 0.868
201809 0.872 252.439 1.141
201812 0.936 251.233 1.230
201903 0.752 254.202 0.977
201906 1.122 256.143 1.446
201909 1.684 256.759 2.166
201912 1.792 256.974 2.303
202003 1.633 258.115 2.089
202006 1.416 257.797 1.814
202009 0.942 260.280 1.195
202012 1.129 260.474 1.431
202103 1.236 264.877 1.541
202106 0.856 271.696 1.040
202109 0.933 274.310 1.123
202112 4.706 278.802 5.574
202203 1.925 287.504 2.211
202206 2.456 296.311 2.737
202209 2.456 296.808 2.732
202212 3.778 296.797 4.203
202303 6.229 301.836 6.815
202306 3.193 305.109 3.456
202309 5.030 307.789 5.396
202312 6.109 306.746 6.576
202403 7.203 312.332 7.615
202406 6.147 314.175 6.461
202409 5.474 315.301 5.733
202412 5.743 315.605 6.009
202503 5.246 319.799 5.417
202506 5.966 322.561 6.108
202509 5.294 324.800 5.382
202512 4.120 324.054 4.198
202603 4.787 330.213 4.787

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.

What does a Cyclically Adjusted PS Ratio of 1.59 mean?
BW LPG (HAM:1PE) has a Cyclically Adjusted PS Ratio of 1.59 as of Jul. 22, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on BW LPG and its competitors. This is 14% above median its historical median of 1.39. Over the past decade, BW LPG's Cyclically Adjusted PS Ratio has ranged from 0.83 to 2.49. According to the industry distribution chart, BW LPG ranks #430 out of 707 companies in the Oil & Gas industry, placing it in the top 60.8%.
Is BW LPG's Cyclically Adjusted PS Ratio too high?
BW LPG's current Cyclically Adjusted PS Ratio of 1.59 is 14% above median its 10-year median of 1.39. Over the past 10 years, this metric has ranged from a low of 0.83 to a high of 2.49. The Oil & Gas industry median Cyclically Adjusted PS Ratio is 1.03. BW LPG's value of 1.59 is 54.4% above this industry median. Based on the distribution chart, BW LPG ranks #430 out of 707 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, BW LPG has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BW LPG's Cyclically Adjusted PS Ratio compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, BW LPG ranks #430 out of 707 companies for Cyclically Adjusted PS Ratio. This places BW LPG in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.03. BW LPG's value of 1.59 is 54.4% above this benchmark. Historically, BW LPG's own Cyclically Adjusted PS Ratio has ranged from 0.83 to 2.49 over the past decade. While the company's 10-year median is 1.39 vs. the industry median of 1.03, BW LPG has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for an Oil & Gas company?
The median Cyclically Adjusted PS Ratio among Oil & Gas companies is 1.03, based on 707 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. BW LPG's current Cyclically Adjusted PS Ratio of 1.59 is 54.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on BW LPG and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PS Ratio is 1.03 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BW LPG's current Cyclically Adjusted PS Ratio is 1.59, which is 14% above median its own 10-year median of 1.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BW LPG stock overvalued right now?
Based on GuruFocus' analysis, BW LPG (HAM:1PE) is currently considered Significantly Overvalued. The stock's GF Value™ is €12.67, compared to a current price of €18.34 — trading 44.8% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.59, which is 14% above median its 10-year median of 1.39 and 54.4% above the Oil & Gas industry median of 1.03. BW LPG's overall GF Score™ is 66/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For BW LPG (HAM:1PE), the current Cyclically Adjusted PS Ratio is 1.59 as of Jul. 22, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is BW LPG (HAM:1PE) Overvalued in 2026?

Based on GuruFocus' analysis, BW LPG stock appears to be overvalued. The current stock price of €18.34 is trading 44.8% above its estimated GF Value™ of €12.67. GuruFocus considers BW LPG to be Significantly Overvalued.

Key valuation signals for HAM:1PE:

  • Cyclically Adjusted PS Ratio: 1.59 (14% above median its 10-year median of 1.39)
  • GF Value™: €12.67 vs. price of €18.34 (44.8% above fair value)
  • GF Score™: 66/100 with 6 warning signs
  • Industry Position: 54.4% above the Oil & Gas median (#430 of 707)

No single metric tells the full story. See the HAM:1PE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BW LPG Business Description

Industry EnergyOil & Gas
Address c/o BW LPG Holding Pte Ltd, 10 Pasir Panjang Road, No. 17-02 Mapletree Business City, Singapore, SGP, 117438
BW LPG Ltd is an owner and operator of very large gas carriers. It operates in two segments: the Shipping segment, which includes LPG shipping and the Product Services segment, which includes the core shipping business. The Product Services segment derives the majority of the revenue.
66GF Score

Get the complete analysis for HAM:1PE

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

€18.34
Price
€12.67
GF Value