ICBC Turkey Bank AS (IST:ICBCT) Cyclically Adjusted PS Ratio: 8.27 (As of Jul. 20, 2026) — 13% Below 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:ICBCT ICBC Turkey Bank AS IST:ICBCT
55 GF Score
Price ₺21.00
GF Value ₺23.72
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is ICBC Turkey Bank AS Cyclically Adjusted PS Ratio?

ICBC Turkey Bank AS IST:ICBCT +3.14% 55 Cyclically Adjusted PS Ratio is 8.27 as of Jul. 20, 2026, which is 13% below its 10-year median of 9.50. GuruFocus rates IST:ICBCT with a GF Score™ of 55/100 and a GF Value™ of ₺23.72 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,301 Banks companies, ICBC Turkey Bank AS ranks worse than 94.39% on this metric.

As of today (2026-07-20), ICBC Turkey Bank AS's current share price is ₺21.00. ICBC Turkey Bank AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was ₺2.54. ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio for today is 8.27.

The historical rank and industry rank for ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio or its related term are showing as below:

IST:ICBCT' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 5.52   Med: 9.5   Max: 33.67
Current: 8.26

During the past years, ICBC Turkey Bank AS's highest Cyclically Adjusted PS Ratio was 33.67. The lowest was 5.52. And the median was 9.50.

IST:ICBCT's Cyclically Adjusted PS Ratio is ranked worse than
94.39% of 1301 companies
in the Banks industry
Industry Median: 3.38 vs IST:ICBCT: 8.26

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.

ICBC Turkey Bank AS's adjusted revenue per share data for the three months ended in Mar. 2026 was ₺2.792. 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 ₺2.54 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


ICBC Turkey Bank AS  (IST:ICBCT) 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.


ICBC Turkey Bank AS Cyclically Adjusted PS Ratio Related Terms


ICBC Turkey Bank AS Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for ICBC Turkey Bank 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.

ICBC Turkey Bank AS Cyclically Adjusted PS Ratio Chart

ICBC Turkey Bank 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 8.05 11.17 9.11 7.69 5.87

ICBC Turkey Bank AS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 7.08 8.77 8.51 5.87 5.54

IST:ICBCT vs PNC, USB: Cyclically Adjusted PS Ratio Comparison

For the Banks - Regional subindustry, ICBC Turkey Bank 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.


ICBC Turkey Bank AS Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio falls into.


IST:ICBCT
55GF Score
ICBC Turkey Bank AS IST:ICBCT
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ICBC Turkey Bank 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.

ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=21.00/2.54
=8.27

* 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.

ICBC Turkey Bank AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, ICBC Turkey Bank AS's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=2.792/330.2130*330.2130
=2.792

Current CPI (Mar. 2026) = 330.2130.

ICBC Turkey Bank AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.104 241.018 0.142
201609 0.091 241.428 0.124
201612 0.133 241.432 0.182
201703 0.185 243.801 0.251
201706 0.104 244.955 0.140
201709 0.088 246.819 0.118
201712 0.137 246.524 0.184
201803 0.126 249.554 0.167
201806 0.212 251.989 0.278
201809 0.249 252.439 0.326
201812 0.185 251.233 0.243
201903 0.197 254.202 0.256
201906 0.166 256.143 0.214
201909 0.143 256.759 0.184
201912 0.246 256.974 0.316
202003 0.333 258.115 0.426
202006 0.203 257.797 0.260
202009 0.241 260.280 0.306
202012 0.223 260.474 0.283
202103 0.358 264.877 0.446
202106 0.329 271.696 0.400
202109 0.310 274.310 0.373
202112 0.749 278.802 0.887
202203 1.043 287.504 1.198
202206 0.906 296.311 1.010
202209 0.865 296.808 0.962
202212 0.691 296.797 0.769
202303 0.996 301.836 1.090
202306 2.281 305.109 2.469
202309 1.091 307.789 1.170
202312 1.086 306.746 1.169
202403 1.055 312.332 1.115
202406 0.431 314.175 0.453
202409 0.048 315.301 0.050
202412 0.372 315.605 0.389
202503 0.471 319.799 0.486
202506 0.187 322.561 0.191
202509 0.867 324.800 0.881
202512 2.664 324.054 2.715
202603 2.792 330.213 2.792

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 8.27 mean?
ICBC Turkey Bank AS (IST:ICBCT) has a Cyclically Adjusted PS Ratio of 8.27 as of Jul. 20, 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 ICBC Turkey Bank AS and its competitors. This is 13% below median its historical median of 9.50. Over the past decade, ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio has ranged from 5.52 to 33.67. According to the industry distribution chart, ICBC Turkey Bank AS ranks #1228 out of 1301 companies in the Banks industry, placing it in the top 94.4%.
Is ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio too high?
ICBC Turkey Bank AS's current Cyclically Adjusted PS Ratio of 8.27 is 13% below median its 10-year median of 9.50. Over the past 10 years, this metric has ranged from a low of 5.52 to a high of 33.67. The Banks industry median Cyclically Adjusted PS Ratio is 3.38. ICBC Turkey Bank AS's value of 8.27 is 144.7% above this industry median. Based on the distribution chart, ICBC Turkey Bank AS ranks #1228 out of 1301 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, ICBC Turkey Bank AS has a GF Score™ of 55/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ICBC Turkey Bank AS's Cyclically Adjusted PS Ratio compare to PNC and USB?
According to the Banks industry distribution chart, ICBC Turkey Bank AS ranks #1228 out of 1301 companies for Cyclically Adjusted PS Ratio. This places ICBC Turkey Bank AS in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.38. ICBC Turkey Bank AS's value of 8.27 is 144.7% above this benchmark. Historically, ICBC Turkey Bank AS's own Cyclically Adjusted PS Ratio has ranged from 5.52 to 33.67 over the past decade. While the company's 10-year median is 9.50 vs. the industry median of 3.38, ICBC Turkey Bank 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 Banks company?
The median Cyclically Adjusted PS Ratio among Banks companies is 3.38, based on 1,301 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. ICBC Turkey Bank AS's current Cyclically Adjusted PS Ratio of 8.27 is 144.7% 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 ICBC Turkey Bank AS and its competitors. For the Banks industry, the median Cyclically Adjusted PS Ratio is 3.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICBC Turkey Bank AS's current Cyclically Adjusted PS Ratio is 8.27, which is 13% below median its own 10-year median of 9.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICBC Turkey Bank AS stock overvalued right now?
Based on GuruFocus' analysis, ICBC Turkey Bank AS (IST:ICBCT) is currently considered Modestly Undervalued. The stock's GF Value™ is ₺23.72, compared to a current price of ₺21.00 — trading 11.5% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 8.27, which is 13% below median its 10-year median of 9.50 and 144.7% above the Banks industry median of 3.38. ICBC Turkey Bank AS's overall GF Score™ is 55/100 with 3 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 ICBC Turkey Bank AS (IST:ICBCT), the current Cyclically Adjusted PS Ratio is 8.27 as of Jul. 20, 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 ICBC Turkey Bank AS (IST:ICBCT) Overvalued in 2026?

Based on GuruFocus' analysis, ICBC Turkey Bank AS stock appears to be undervalued. The current stock price of ₺21.00 is trading 11.5% below its estimated GF Value™ of ₺23.72. GuruFocus considers ICBC Turkey Bank AS to be Modestly Undervalued.

Key valuation signals for IST:ICBCT:

  • Cyclically Adjusted PS Ratio: 8.27 (13% below median its 10-year median of 9.50)
  • GF Value™: ₺23.72 vs. price of ₺21.00 (11.5% below fair value)
  • GF Score™: 55/100 with 3 warning signs
  • Industry Position: 144.7% above the Banks median (#1228 of 1301)

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


ICBC Turkey Bank AS Business Description

Address Maslak Mah. Dereboyu/2 Caddesi No. 13, Sariyer, Istanbul, TUR, 34398
ICBC Turkey Bank AS is a bank engaged in corporate and retail banking activities. The operations of the company consist of corporate, commercial, and retail banking services, international transactions, and securities trading in capital markets, which are conducted mainly with local customers. The company has three segments, namely Retail Banking, which includes loans, deposits, and other transactions and balances with retail customers; Corporate Banking includes loans, deposits, and other transactions and balances with corporate and SME customers; and Treasury, Investment Banking, and others include funds management and treasury activities. It derives key revenue from the Corporate banking segment.
55GF Score

Get the complete analysis for IST:ICBCT

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

₺21.00
Price
₺23.72
GF Value