Fairfax Financial Holdings (HAM:FFX) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan 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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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:FFX Fairfax Financial Holdings Ltd HAM:FFX
75 GF Score
Price €1,393.00
GF Value €1,408.19
! 4 Warning Signs
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What is Fairfax Financial Holdings Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Fairfax Financial Holdings  (HAM:FFX) 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.


Fairfax Financial Holdings Cyclically Adjusted PS Ratio Related Terms


Fairfax Financial Holdings Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Fairfax Financial Holdings'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.

Fairfax Financial Holdings Cyclically Adjusted PS Ratio Chart

Fairfax Financial Holdings 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 - - - - 1.59

Fairfax Financial Holdings 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 - - 1.57 1.36 1.29

HAM:FFX vs CB, PGR, TRV: Cyclically Adjusted PS Ratio Comparison

For the Insurance - Property & Casualty subindustry, Fairfax Financial Holdings'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.


Fairfax Financial Holdings Cyclically Adjusted PS Ratio vs Insurance Industry

For the Insurance industry and Financial Services sector, Fairfax Financial Holdings's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


HAM:FFX
75GF Score
Fairfax Financial Holdings Ltd HAM:FFX
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Fairfax Financial Holdings 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.

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

For example, Fairfax Financial Holdings'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)
=454.777/133.5265*133.5265
=454.777

Current CPI (Jun. 2026) = 133.5265.

Fairfax Financial Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 92.697 101.765 121.629
201612 72.405 101.449 95.299
201703 107.283 102.634 139.575
201706 122.847 103.029 159.211
201709 116.332 103.345 150.307
201712 125.442 103.345 162.077
201803 114.283 105.004 145.326
201806 122.943 105.557 155.519
201809 132.175 105.636 167.072
201812 127.939 105.399 162.082
201903 172.744 106.979 215.611
201906 162.100 107.690 200.990
201909 153.138 107.611 190.017
201912 186.358 107.769 230.898
202003 109.891 107.927 135.956
202006 166.673 108.401 205.304
202009 152.533 108.164 188.299
202012 200.884 108.559 247.084
202103 175.104 110.298 211.981
202106 198.122 111.720 236.794
202109 194.295 112.905 229.782
202112 215.895 113.774 253.377
202203 246.790 117.646 280.104
202206 287.969 120.806 318.292
202209 310.397 120.648 343.530
202212 352.934 120.964 389.588
202303 329.440 122.702 358.502
202306 299.811 124.203 322.316
202309 342.607 125.230 365.304
202312 384.110 125.072 410.073
202403 355.907 126.258 376.397
202406 373.011 127.522 390.576
202409 438.748 127.285 460.263
202412 422.968 127.364 443.434
202503 481.980 129.181 498.194
202506 436.396 129.892 448.607
202509 446.446 130.287 457.546
202512 461.040 130.366 472.217
202603 375.418 132.262 379.006
202606 454.777 133.527 454.777

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 Fairfax Financial Holdings (HAM:FFX) Overvalued in 2026?

Based on GuruFocus' analysis, Fairfax Financial Holdings stock appears to be undervalued. The current stock price of €1,393.00 is trading 1.1% below its estimated GF Value™ of €1,408.19.

Key valuation signals for HAM:FFX:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €1,408.19 vs. price of €1,393.00 (1.1% below fair value)
  • GF Score™: 75/100 with 4 warning signs

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


Fairfax Financial Holdings Business Description

Address 95 Wellington Street West, Suite 800, Toronto, ON, CAN, M5J 2N7
Fairfax Financial Holdings provides reinsurance and property and casualty insurance in Canada, the United States, and other international markets. The company also has some noninsurance operations such as restaurants. Fairfax has been led by Prem Watsa, its chair and CEO, since its formation in 1985.
75GF Score

Get the complete analysis for HAM:FFX

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

€1,393.00
Price
€1,408.19
GF Value