Deniz Gayrimenkul Yatirim Ortakligi AS (IST:DZGYO) Cyclically Adjusted PS Ratio: 6.08 (As of Aug. 17, 2026) — 20% 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.

IST:DZGYO Deniz Gayrimenkul Yatirim Ortakligi AS IST:DZGYO
32 GF Score
Price ₺7.36
GF Value ₺1.62
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is Deniz Gayrimenkul Yatirim Ortakligi AS Cyclically Adjusted PS Ratio?

Deniz Gayrimenkul Yatirim Ortakligi AS IST:DZGYO +1.66% 32 Cyclically Adjusted PS Ratio is 6.08 as of Aug. 17, 2026, which is 20% above its 10-year median of 5.07. GuruFocus rates IST:DZGYO with a GF Score™ of 32/100 and a GF Value™ of ₺1.62 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 541 REITs companies, Deniz Gayrimenkul Yatirim Ortakligi AS ranks worse than 52.31% on this metric.

As of today (2026-08-17), Deniz Gayrimenkul Yatirim Ortakligi AS's current share price is ₺7.36. Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was ₺1.21. Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio for today is 6.08.

The historical rank and industry rank for Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio or its related term are showing as below:

IST:DZGYO' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.22   Med: 5.07   Max: 10.85
Current: 6.06

During the past years, Deniz Gayrimenkul Yatirim Ortakligi AS's highest Cyclically Adjusted PS Ratio was 10.85. The lowest was 2.22. And the median was 5.07.

IST:DZGYO's Cyclically Adjusted PS Ratio is ranked worse than
52.31% of 541 companies
in the REITs industry
Industry Median: 5.78 vs IST:DZGYO: 6.06

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.

Deniz Gayrimenkul Yatirim Ortakligi AS's adjusted revenue per share data for the three months ended in Jun. 2026 was ₺0.101. 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 ₺1.21 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Deniz Gayrimenkul Yatirim Ortakligi AS  (IST:DZGYO) 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.


Deniz Gayrimenkul Yatirim Ortakligi AS Cyclically Adjusted PS Ratio Related Terms


Deniz Gayrimenkul Yatirim Ortakligi AS Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Deniz Gayrimenkul Yatirim Ortakligi AS'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.

Deniz Gayrimenkul Yatirim Ortakligi AS Cyclically Adjusted PS Ratio Chart

Deniz Gayrimenkul Yatirim Ortakligi AS 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 4.73 4.72 3.50 9.89 6.43

Deniz Gayrimenkul Yatirim Ortakligi AS 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 5.08 6.23 6.43 6.24 6.93

IST:DZGYO vs VICI, WPC: Cyclically Adjusted PS Ratio Comparison

For the REIT - Diversified subindustry, Deniz Gayrimenkul Yatirim Ortakligi AS'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.


Deniz Gayrimenkul Yatirim Ortakligi AS Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio falls into.


IST:DZGYO
32GF Score
Deniz Gayrimenkul Yatirim Ortakligi AS IST:DZGYO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Deniz Gayrimenkul Yatirim Ortakligi AS 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.

Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=7.36/1.21
=6.08

* 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.

Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Deniz Gayrimenkul Yatirim Ortakligi AS'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)
=0.101/333.9520*333.9520
=0.101

Current CPI (Jun. 2026) = 333.9520.

Deniz Gayrimenkul Yatirim Ortakligi AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.014 241.428 0.019
201612 0.014 241.432 0.019
201703 0.015 243.801 0.021
201706 0.016 244.955 0.022
201709 0.016 246.819 0.022
201712 0.016 246.524 0.022
201803 0.016 249.554 0.021
201806 0.017 251.989 0.023
201809 0.017 252.439 0.022
201812 0.017 251.233 0.023
201903 0.017 254.202 0.022
201906 0.019 256.143 0.025
201909 0.017 256.759 0.022
201912 0.025 256.974 0.032
202003 0.042 258.115 0.054
202006 0.017 257.797 0.022
202009 0.020 260.280 0.026
202012 1.270 260.474 1.628
202103 0.032 264.877 0.040
202106 0.395 271.696 0.486
202109 0.224 274.310 0.273
202112 0.443 278.802 0.531
202203 0.570 287.504 0.662
202206 0.478 296.311 0.539
202209 0.619 296.808 0.696
202212 1.722 296.797 1.938
202303 0.626 301.836 0.693
202306 0.219 305.109 0.240
202309 0.767 307.789 0.832
202312 1.002 306.746 1.091
202403 0.483 312.332 0.516
202406 0.220 314.175 0.234
202409 0.459 315.301 0.486
202412 0.347 315.605 0.367
202503 0.068 319.799 0.071
202506 0.044 322.561 0.046
202509 0.150 324.800 0.154
202512 0.032 324.054 0.033
202603 0.075 330.213 0.076
202606 0.101 333.952 0.101

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 6.08 mean?
Deniz Gayrimenkul Yatirim Ortakligi AS (IST:DZGYO) has a Cyclically Adjusted PS Ratio of 6.08 as of Aug. 17, 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 Deniz Gayrimenkul Yatirim Ortakligi AS and its competitors. This is 20% above median its historical median of 5.07. Over the past decade, Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio has ranged from 2.22 to 10.85. According to the industry distribution chart, Deniz Gayrimenkul Yatirim Ortakligi AS ranks #283 out of 541 companies in the REITs industry, placing it in the top 52.3%.
Is Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio too high?
Deniz Gayrimenkul Yatirim Ortakligi AS's current Cyclically Adjusted PS Ratio of 6.08 is 20% above median its 10-year median of 5.07. Over the past 10 years, this metric has ranged from a low of 2.22 to a high of 10.85. The REITs industry median Cyclically Adjusted PS Ratio is 5.78. Deniz Gayrimenkul Yatirim Ortakligi AS's value of 6.08 is 5.2% above this industry median. Based on the distribution chart, Deniz Gayrimenkul Yatirim Ortakligi AS ranks #283 out of 541 companies in the REITs industry, which is below the industry midpoint. Overall, Deniz Gayrimenkul Yatirim Ortakligi AS has a GF Score™ of 32/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Deniz Gayrimenkul Yatirim Ortakligi AS's Cyclically Adjusted PS Ratio compare to VICI and WPC?
According to the REITs industry distribution chart, Deniz Gayrimenkul Yatirim Ortakligi AS ranks #283 out of 541 companies for Cyclically Adjusted PS Ratio. This places Deniz Gayrimenkul Yatirim Ortakligi AS in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 5.78. Deniz Gayrimenkul Yatirim Ortakligi AS's value of 6.08 is 5.2% above this benchmark. Historically, Deniz Gayrimenkul Yatirim Ortakligi AS's own Cyclically Adjusted PS Ratio has ranged from 2.22 to 10.85 over the past decade. While the company's 10-year median is 5.07 vs. the industry median of 5.78, Deniz Gayrimenkul Yatirim Ortakligi AS 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 a REITs company?
The median Cyclically Adjusted PS Ratio among REITs companies is 5.78, based on 541 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. Deniz Gayrimenkul Yatirim Ortakligi AS's current Cyclically Adjusted PS Ratio of 6.08 is 5.2% 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 Deniz Gayrimenkul Yatirim Ortakligi AS and its competitors. For the REITs industry, the median Cyclically Adjusted PS Ratio is 5.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Deniz Gayrimenkul Yatirim Ortakligi AS's current Cyclically Adjusted PS Ratio is 6.08, which is 20% above median its own 10-year median of 5.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Deniz Gayrimenkul Yatirim Ortakligi AS stock overvalued right now?
Based on GuruFocus' analysis, Deniz Gayrimenkul Yatirim Ortakligi AS (IST:DZGYO) is currently considered Significantly Overvalued. The stock's GF Value™ is ₺1.62, compared to a current price of ₺7.36 — trading 354.3% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 6.08, which is 20% above median its 10-year median of 5.07 and 5.2% above the REITs industry median of 5.78. Deniz Gayrimenkul Yatirim Ortakligi AS's overall GF Score™ is 32/100 with 6 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 Deniz Gayrimenkul Yatirim Ortakligi AS (IST:DZGYO), the current Cyclically Adjusted PS Ratio is 6.08 as of Aug. 17, 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 Deniz Gayrimenkul Yatirim Ortakligi AS (IST:DZGYO) Overvalued in 2026?

Based on GuruFocus' analysis, Deniz Gayrimenkul Yatirim Ortakligi AS stock appears to be overvalued. The current stock price of ₺7.36 is trading 354.3% above its estimated GF Value™ of ₺1.62. GuruFocus considers Deniz Gayrimenkul Yatirim Ortakligi AS to be Significantly Overvalued.

Key valuation signals for IST:DZGYO:

  • Cyclically Adjusted PS Ratio: 6.08 (20% above median its 10-year median of 5.07)
  • GF Value™: ₺1.62 vs. price of ₺7.36 (354.3% above fair value)
  • GF Score™: 32/100 with 6 warning signs
  • Industry Position: 5.2% above the REITs median (#283 of 541)

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


Deniz Gayrimenkul Yatirim Ortakligi AS Business Description

Industry Real EstateREITs
Address Buyukdere Caddesi No.106, Esentepe, Istanbul, TUR, 34394
Deniz Gayrimenkul Yatirim Ortakligi AS operates as a capital market institution. The company exports its shares to operate its portfolio consisting of real estates, real estate projects, real estate based rights, capital market instruments and other assets. Its portfolio of investments includes Bahcesehir shopping mall, Goksu shopping mall, Metrokent center shopping mall, Metrokent education buildings, and Karakoy building.
32GF Score

Get the complete analysis for IST:DZGYO

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

₺7.36
Price
₺1.62
GF Value