ManpowerGroup Greater China (HKSE:02180) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.

HKSE:02180 ManpowerGroup Greater China Ltd HKSE:02180
89 GF Score
Price HK$4.75
GF Value HK$5.91
Valuation Modestly Undervalued
! 4 Warning Signs
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What is ManpowerGroup Greater China Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


ManpowerGroup Greater China  (HKSE:02180) 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.


ManpowerGroup Greater China Cyclically Adjusted PS Ratio Related Terms


ManpowerGroup Greater China Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for ManpowerGroup Greater China'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.

ManpowerGroup Greater China Cyclically Adjusted PS Ratio Chart

ManpowerGroup Greater China 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 - - - - 0.24

ManpowerGroup Greater China Semi-Annual Data
Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 - - - 0.24 0.23

HKSE:02180 vs RHI, KFY, TNET: Cyclically Adjusted PS Ratio Comparison

For the Staffing & Employment Services subindustry, ManpowerGroup Greater China'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.


ManpowerGroup Greater China Cyclically Adjusted PS Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, ManpowerGroup Greater China's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


HKSE:02180
89GF Score
ManpowerGroup Greater China Ltd HKSE:02180
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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ManpowerGroup Greater China 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.

ManpowerGroup Greater China's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, ManpowerGroup Greater China's adjusted Revenue per Share data for the fiscal year that ended in Dec25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=36.122/115.8323*115.8323
=36.122

Current CPI (Dec25) = 115.8323.

ManpowerGroup Greater China Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 9.145 102.600 10.324
201712 11.153 104.500 12.362
201812 14.222 106.500 15.468
201912 19.478 111.200 20.289
202012 17.452 111.500 18.130
202112 23.038 113.108 23.593
202212 25.890 115.116 26.051
202312 28.877 114.781 29.142
202412 33.536 114.893 33.810
202512 36.122 115.832 36.122

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 ManpowerGroup Greater China (HKSE:02180) Overvalued in 2026?

Based on GuruFocus' analysis, ManpowerGroup Greater China stock appears to be undervalued. The current stock price of HK$4.75 is trading 19.6% below its estimated GF Value™ of HK$5.91. GuruFocus considers ManpowerGroup Greater China to be Modestly Undervalued.

Key valuation signals for HKSE:02180:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: HK$5.91 vs. price of HK$4.75 (19.6% below fair value)
  • GF Score™: 89/100 with 4 warning signs

No single metric tells the full story. See the HKSE:02180 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


ManpowerGroup Greater China Business Description

Address No. 999, Pudong Road (S, 36th Floor, Xin Mei Union Square, Pudong District, Shanghai, CHN
ManpowerGroup Greater China Ltd is engaged in the business of workforce solutions and services around the world in regions outside of Greater China; It provides flexible employment, talent hunting, recruitment process outsourcing, talent management, and training development. The segments of the company include The Workforce Solutions segment includes Flexible staffing services and Recruitment solutions services, and the Other HR Services segment provides HR services to customers who need assistance in outplacement, leadership development, career management, talent assessment, and training and development services. The company derives a majority of its revenue from the People's Republic of China, while it also has its presence in Hong Kong and Macau, and Taiwan.
89GF Score

Get the complete analysis for HKSE:02180

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

HK$4.75
Price
HK$5.91
GF Value