African Rainbow Minerals (HAM:EB9) Cyclically Adjusted PS Ratio: (As of Aug. 12, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:EB9 African Rainbow Minerals Ltd HAM:EB9
57 GF Score
Price €9.25
GF Value €9.23
Valuation Fairly Valued
! 7 Warning Signs
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What is African Rainbow Minerals Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


African Rainbow Minerals  (HAM:EB9) 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.


African Rainbow Minerals Cyclically Adjusted PS Ratio Related Terms


African Rainbow Minerals Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for African Rainbow Minerals'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.

African Rainbow Minerals Cyclically Adjusted PS Ratio Chart

African Rainbow Minerals Annual Data
Trend Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.96 3.32 2.84 3.16 2.35

African Rainbow Minerals Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 0.00 3.16 0.00 2.35 0.00

African Rainbow Minerals Cyclically Adjusted PS Ratio Competitor Comparison

For the Other Industrial Metals & Mining subindustry, African Rainbow Minerals'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.


African Rainbow Minerals Cyclically Adjusted PS Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, African Rainbow Minerals's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


HAM:EB9
57GF Score
African Rainbow Minerals Ltd HAM:EB9
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

African Rainbow Minerals 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.

African Rainbow Minerals's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Jun25 is calculated as:

For example, African Rainbow Minerals's adjusted Revenue per Share data for the fiscal year that ended in Jun25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun25 (Change)*Current CPI (Jun25)
=2.892/160.9852*160.9852
=2.892

Current CPI (Jun25) = 160.9852.

African Rainbow Minerals Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.237 106.713 3.375
201706 2.886 112.054 4.146
201806 2.668 116.959 3.672
201906 2.738 122.191 3.607
202006 3.063 124.807 3.951
202106 5.943 131.113 7.297
202206 5.162 140.835 5.901
202306 3.674 148.802 3.975
202406 2.934 156.269 3.023
202506 2.892 160.985 2.892

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 African Rainbow Minerals (HAM:EB9) Overvalued in 2026?

Based on GuruFocus' analysis, African Rainbow Minerals stock appears to be overvalued. The current stock price of €9.25 is trading 0.2% above its estimated GF Value™ of €9.23. GuruFocus considers African Rainbow Minerals to be Fairly Valued.

Key valuation signals for HAM:EB9:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €9.23 vs. price of €9.25 (0.2% above fair value)
  • GF Score™: 57/100 with 7 warning signs

No single metric tells the full story. See the HAM:EB9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


African Rainbow Minerals Business Description

Address 29 Impala Road, ARM House, Chislehurston, Sandton, GT, ZAF, 2196
African Rainbow Minerals Ltd is a South African diversified mining and minerals company with operations in South Africa and Malaysia. The group operates through four main segments: ARM Platinum, which includes platinum group metals and nickel; ARM Ferrous, focused on iron ore, manganese ore, and chrome ore; ARM Coal, operating mainly in the Goedgevonden Mine; and ARM Corporate, which includes Machadodorp Works, gold investments, and other activities. The company produces manganese alloys and holds a strategic investment in gold. The company generates the majority of its revenue from South Africa and maintains a presence in Europe, the Americas, and the Far and Middle East.
57GF Score

Get the complete analysis for HAM:EB9

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

€9.25
Price
€9.23
GF Value