Fairfax Financial Holdings (HAM:FFX) Cyclically Adjusted PS Ratio: 1.82 (As of Aug. 07, 2026) — 46% 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:FFX Fairfax Financial Holdings Ltd HAM:FFX
83 GF Score
Price €1,480.00
GF Value €1,379.32
! 7 Warning Signs
View Full Analysis

What is Fairfax Financial Holdings Cyclically Adjusted PS Ratio?

Fairfax Financial Holdings HAM:FFX +0.41% 83 Cyclically Adjusted PS Ratio is 1.82 as of Aug. 07, 2026, which is 46% above its 10-year median of 1.25. GuruFocus rates HAM:FFX with a GF Score™ of 83/100 and a GF Value™ of €1,379.32. The stock has 7 warning signs investors should review. Among 412 Insurance companies, Fairfax Financial Holdings ranks worse than 68.93% on this metric.

As of today (2026-08-07), Fairfax Financial Holdings's current share price is €1480.00. Fairfax Financial Holdings's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €811.26. Fairfax Financial Holdings's Cyclically Adjusted PS Ratio for today is 1.82.

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

HAM:FFX' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.58   Med: 1.25   Max: 2.15
Current: 1.83

During the past years, Fairfax Financial Holdings's highest Cyclically Adjusted PS Ratio was 2.15. The lowest was 0.58. And the median was 1.25.

HAM:FFX's Cyclically Adjusted PS Ratio is ranked worse than
68.93% of 412 companies
in the Insurance industry
Industry Median: 1.235 vs HAM:FFX: 1.83

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.

Fairfax Financial Holdings's adjusted revenue per share data for the three months ended in Jun. 2026 was €325.139. 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 €811.26 for the trailing ten years ended in Jun. 2026.

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 0.84 0.95 1.25 1.84 2.13

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 2.09 2.02 2.13 1.87 1.78

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
83GF Score
Fairfax Financial Holdings Ltd HAM:FFX
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

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 PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=1480.00/811.26
=1.82

* 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'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)
=325.139/133.5265*133.5265
=325.139

Current CPI (Jun. 2026) = 133.5265.

Fairfax Financial Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 92.177 101.765 120.946
201612 74.013 101.449 97.416
201703 106.911 102.634 139.091
201706 120.319 103.029 155.935
201709 143.598 103.345 185.536
201712 95.797 103.345 123.774
201803 113.909 105.004 144.850
201806 125.386 105.557 158.610
201809 131.752 105.636 166.538
201812 123.638 105.399 156.633
201903 173.588 106.979 216.665
201906 162.965 107.690 202.062
201909 154.598 107.611 191.829
201912 185.665 107.769 230.040
202003 109.641 107.927 135.647
202006 162.988 108.401 200.765
202009 156.310 108.164 192.961
202012 169.043 108.559 207.920
202103 177.376 110.298 214.732
202106 199.587 111.720 238.545
202109 188.851 112.905 223.344
202112 238.187 113.774 279.539
202203 162.446 117.646 184.375
202206 153.351 120.806 169.499
202209 191.600 120.648 212.052
202212 249.489 120.964 275.399
202303 232.943 122.702 253.493
202306 199.607 124.203 214.590
202309 219.452 125.230 233.990
202312 334.027 125.072 356.605
202403 228.589 126.258 241.749
202406 256.653 127.522 268.738
202409 300.002 127.285 314.714
202412 261.772 127.364 274.438
202503 312.369 129.181 322.877
202506 298.195 129.892 306.539
202509 290.591 130.287 297.816
202512 268.383 130.366 274.889
202603 248.089 132.262 250.460
202606 325.139 133.527 325.139

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 1.82 mean?
Fairfax Financial Holdings (HAM:FFX) has a Cyclically Adjusted PS Ratio of 1.82 as of Aug. 07, 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 Fairfax Financial Holdings and its competitors. This is 46% above median its historical median of 1.25. Over the past decade, Fairfax Financial Holdings' Cyclically Adjusted PS Ratio has ranged from 0.58 to 2.15. According to the industry distribution chart, Fairfax Financial Holdings ranks #284 out of 412 companies in the Insurance industry, placing it in the top 68.9%.
Is Fairfax Financial Holdings' Cyclically Adjusted PS Ratio too high?
Fairfax Financial Holdings' current Cyclically Adjusted PS Ratio of 1.82 is 46% above median its 10-year median of 1.25. Over the past 10 years, this metric has ranged from a low of 0.58 to a high of 2.15. The Insurance industry median Cyclically Adjusted PS Ratio is 1.24. Fairfax Financial Holdings' value of 1.82 is 47.4% above this industry median. Based on the distribution chart, Fairfax Financial Holdings ranks #284 out of 412 companies in the Insurance industry, which is below the industry midpoint. Overall, Fairfax Financial Holdings has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Fairfax Financial Holdings' Cyclically Adjusted PS Ratio compare to CB and PGR?
According to the Insurance industry distribution chart, Fairfax Financial Holdings ranks #284 out of 412 companies for Cyclically Adjusted PS Ratio. This places Fairfax Financial Holdings in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.24. Fairfax Financial Holdings' value of 1.82 is 47.4% above this benchmark. Historically, Fairfax Financial Holdings' own Cyclically Adjusted PS Ratio has ranged from 0.58 to 2.15 over the past decade. While the company's 10-year median is 1.25 vs. the industry median of 1.24, Fairfax Financial Holdings 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 Insurance company?
The median Cyclically Adjusted PS Ratio among Insurance companies is 1.24, based on 412 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. Fairfax Financial Holdings's current Cyclically Adjusted PS Ratio of 1.82 is 47.4% 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 Fairfax Financial Holdings and its competitors. For the Insurance industry, the median Cyclically Adjusted PS Ratio is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fairfax Financial Holdings's current Cyclically Adjusted PS Ratio is 1.82, which is 46% above median its own 10-year median of 1.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fairfax Financial Holdings stock overvalued right now?
Fairfax Financial Holdings (HAM:FFX) has a current Cyclically Adjusted PS Ratio of 1.82. The stock's GF Value™ is €1,379.32, compared to a current price of €1,480.00 — trading 7.3% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.82, which is 46% above median its 10-year median of 1.25 and 47.4% above the Insurance industry median of 1.24. Fairfax Financial Holdings' overall GF Score™ is 83/100 with 7 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 Fairfax Financial Holdings (HAM:FFX), the current Cyclically Adjusted PS Ratio is 1.82 as of Aug. 07, 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 Fairfax Financial Holdings (HAM:FFX) Overvalued in 2026?

Based on GuruFocus' analysis, Fairfax Financial Holdings stock appears to be overvalued. The current stock price of €1,480.00 is trading 7.3% above its estimated GF Value™ of €1,379.32.

Key valuation signals for HAM:FFX:

  • Cyclically Adjusted PS Ratio: 1.82 (46% above median its 10-year median of 1.25)
  • GF Value™: €1,379.32 vs. price of €1,480.00 (7.3% above fair value)
  • GF Score™: 83/100 with 7 warning signs
  • Industry Position: 47.4% above the Insurance median (#284 of 412)

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.
83GF 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.

€1,480.00
Price
€1,379.32
GF Value