CSX (HAM:CXR) 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
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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:CXR CSX Corp HAM:CXR
88 GF Score
Price €41.09
GF Value €31.81
! 10 Warning Signs
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What is CSX Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


CSX  (HAM:CXR) 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.


CSX Cyclically Adjusted PS Ratio Related Terms


CSX Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for CSX'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.

CSX Cyclically Adjusted PS Ratio Chart

CSX 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 7.92 6.19 6.07 5.54 5.26

CSX 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 4.78 5.10 5.23 5.73 6.70

HAM:CXR vs NSC, WAB, UNP: Cyclically Adjusted PS Ratio Comparison

For the Railroads subindustry, CSX'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.


CSX Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, CSX's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


HAM:CXR
88GF Score
CSX Corp HAM:CXR
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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CSX 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.

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

For example, CSX'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)
=1.821/333.9520*333.9520
=1.821

Current CPI (Jun. 2026) = 333.9520.

CSX Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.858 241.428 1.187
201612 1.004 241.432 1.389
201703 0.966 243.801 1.323
201706 0.961 244.955 1.310
201709 0.860 246.819 1.164
201712 0.905 246.524 1.226
201803 0.878 249.554 1.175
201806 1.000 251.989 1.325
201809 1.050 252.439 1.389
201812 1.102 251.233 1.465
201903 1.083 254.202 1.423
201906 1.125 256.143 1.467
201909 1.127 256.759 1.466
201912 1.115 256.974 1.449
202003 1.118 258.115 1.446
202006 0.890 257.797 1.153
202009 0.985 260.280 1.264
202012 1.031 260.474 1.322
202103 1.022 264.877 1.289
202106 1.091 271.696 1.341
202109 1.246 274.310 1.517
202112 1.352 278.802 1.619
202203 1.387 287.504 1.611
202206 1.655 296.311 1.865
202209 1.819 296.808 2.047
202212 1.761 296.797 1.981
202303 1.678 301.836 1.857
202306 1.678 305.109 1.837
202309 1.643 307.789 1.783
202312 1.738 306.746 1.892
202403 1.729 312.332 1.849
202406 1.765 314.175 1.876
202409 1.698 315.301 1.798
202412 1.727 315.605 1.827
202503 1.719 319.799 1.795
202506 1.687 322.561 1.747
202509 1.644 324.800 1.690
202512 1.617 324.054 1.666
202603 1.598 330.213 1.616
202606 1.821 333.952 1.821

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 CSX (HAM:CXR) Overvalued in 2026?

Based on GuruFocus' analysis, CSX stock appears to be overvalued. The current stock price of €41.09 is trading 29.2% above its estimated GF Value™ of €31.81.

Key valuation signals for HAM:CXR:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €31.81 vs. price of €41.09 (29.2% above fair value)
  • GF Score™: 88/100 with 10 warning signs

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


CSX Business Description

Address 500 Water Street, 15th Floor, Jacksonville, FL, USA, 32202
Operating in the Eastern United States, Class I railroad CSX generated revenue of nearly $14 billion in 2025. On its more than 21,000 miles of track, CSX hauls shipments of coal (16% of consolidated revenue), chemicals (17%), intermodal containers (16%), automotive cargo (7%), and a diverse mix of other bulk and industrial merchandise.
88GF Score

Get the complete analysis for HAM:CXR

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

€41.09
Price
€31.81
GF Value