PT Adhi Karya (Persero) Tbk (ISX:ADHI) Cyclically Adjusted PS Ratio: 0.04 (As of Aug. 27, 2026) — 64% 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.

ISX:ADHI PT Adhi Karya (Persero) Tbk ISX:ADHI
60 GF Score
Price Rp133.00
GF Value Rp174.06
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is PT Adhi Karya (Persero) Tbk Cyclically Adjusted PS Ratio?

PT Adhi Karya (Persero) Tbk ISX:ADHI 60 Cyclically Adjusted PS Ratio is 0.04 as of Aug. 27, 2026, which is 64% below its 10-year median of 0.11. GuruFocus rates ISX:ADHI with a GF Score™ of 60/100 and a GF Value™ of Rp174.06 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,368 Construction companies, PT Adhi Karya (Persero) Tbk ranks better than 97.88% on this metric.

As of today (2026-08-27), PT Adhi Karya (Persero) Tbk's current share price is Rp133.00. PT Adhi Karya (Persero) Tbk's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was Rp3,322.02. PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio for today is 0.04.

The historical rank and industry rank for PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio or its related term are showing as below:

ISX:ADHI' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.04   Med: 0.11   Max: 0.41
Current: 0.04

During the past years, PT Adhi Karya (Persero) Tbk's highest Cyclically Adjusted PS Ratio was 0.41. The lowest was 0.04. And the median was 0.11.

ISX:ADHI's Cyclically Adjusted PS Ratio is ranked better than
97.88% of 1368 companies
in the Construction industry
Industry Median: 0.7 vs ISX:ADHI: 0.04

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.

PT Adhi Karya (Persero) Tbk's adjusted revenue per share data for the three months ended in Jun. 2026 was Rp172.027. 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 Rp3,322.02 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


PT Adhi Karya (Persero) Tbk  (ISX:ADHI) 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.


PT Adhi Karya (Persero) Tbk Cyclically Adjusted PS Ratio Related Terms


PT Adhi Karya (Persero) Tbk Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for PT Adhi Karya (Persero) Tbk'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.

PT Adhi Karya (Persero) Tbk Cyclically Adjusted PS Ratio Chart

PT Adhi Karya (Persero) Tbk 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 0.20 0.12 0.08 0.06 0.08

PT Adhi Karya (Persero) Tbk 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 0.07 0.08 0.08 0.06 0.05

ISX:ADHI vs PWR, FIX, EME: Cyclically Adjusted PS Ratio Comparison

For the Engineering & Construction subindustry, PT Adhi Karya (Persero) Tbk'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.


PT Adhi Karya (Persero) Tbk Cyclically Adjusted PS Ratio vs Construction Industry

For the Construction industry and Industrials sector, PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio falls into.


ISX:ADHI
60GF Score
PT Adhi Karya (Persero) Tbk ISX:ADHI
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

PT Adhi Karya (Persero) Tbk 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.

PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=133.00/3322.02
=0.04

* 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.

PT Adhi Karya (Persero) Tbk's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, PT Adhi Karya (Persero) Tbk'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)
=172.027/137.6954*137.6954
=172.027

Current CPI (Jun. 2026) = 137.6954.

PT Adhi Karya (Persero) Tbk Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 658.874 104.142 871.153
201612 1,381.091 105.222 1,807.322
201703 578.265 106.476 747.816
201706 754.865 107.722 964.909
201709 907.851 108.020 1,157.253
201712 1,656.343 109.017 2,092.068
201803 807.916 110.097 1,010.444
201806 756.217 111.085 937.371
201809 861.268 111.135 1,067.109
201812 1,600.320 112.430 1,959.948
201903 598.663 112.829 730.606
201906 796.651 114.730 956.114
201909 903.965 114.905 1,083.262
201912 1,637.049 115.486 1,951.876
202003 788.480 116.252 933.918
202006 632.775 116.630 747.066
202009 753.606 116.397 891.504
202012 609.415 117.318 715.266
202103 544.688 117.840 636.466
202106 598.253 118.184 697.021
202109 747.264 118.262 870.060
202112 1,074.789 119.516 1,238.273
202203 973.873 120.948 1,108.721
202206 653.024 123.322 729.133
202209 721.543 125.298 792.932
202212 525.232 126.098 573.540
202303 610.427 126.953 662.082
202306 296.280 127.663 319.563
202309 605.861 128.151 650.982
202312 1,025.743 129.395 1,091.545
202403 313.492 130.607 330.506
202406 362.183 130.792 381.301
202409 414.002 130.361 437.295
202412 498.375 131.432 522.127
202503 200.328 131.948 209.053
202506 253.108 133.241 261.570
202509 219.085 133.819 225.431
202512 477.158 135.271 485.710
202603 198.169 136.539 199.848
202606 172.027 137.695 172.027

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 0.04 mean?
PT Adhi Karya (Persero) Tbk (ISX:ADHI) has a Cyclically Adjusted PS Ratio of 0.04 as of Aug. 27, 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 PT Adhi Karya (Persero) Tbk and its competitors. This is 64% below median its historical median of 0.11. Over the past decade, PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio has ranged from 0.04 to 0.41. According to the industry distribution chart, PT Adhi Karya (Persero) Tbk ranks #29 out of 1368 companies in the Construction industry, placing it in the top 2.1%.
Is PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio too high?
PT Adhi Karya (Persero) Tbk's current Cyclically Adjusted PS Ratio of 0.04 is 64% below median its 10-year median of 0.11. Over the past 10 years, this metric has ranged from a low of 0.04 to a high of 0.41. The Construction industry median Cyclically Adjusted PS Ratio is 0.70. PT Adhi Karya (Persero) Tbk's value of 0.04 is 94.3% below this industry median. Based on the distribution chart, PT Adhi Karya (Persero) Tbk ranks #29 out of 1368 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, PT Adhi Karya (Persero) Tbk has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does PT Adhi Karya (Persero) Tbk's Cyclically Adjusted PS Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, PT Adhi Karya (Persero) Tbk ranks #29 out of 1368 companies for Cyclically Adjusted PS Ratio. This places PT Adhi Karya (Persero) Tbk in the top 2% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 0.70. PT Adhi Karya (Persero) Tbk's value of 0.04 is 94.3% below this benchmark. Historically, PT Adhi Karya (Persero) Tbk's own Cyclically Adjusted PS Ratio has ranged from 0.04 to 0.41 over the past decade. While the company's 10-year median is 0.11 vs. the industry median of 0.70, PT Adhi Karya (Persero) Tbk has consistently been below 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 Construction company?
The median Cyclically Adjusted PS Ratio among Construction companies is 0.70, based on 1,368 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. PT Adhi Karya (Persero) Tbk's current Cyclically Adjusted PS Ratio of 0.04 is 94.3% below 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 PT Adhi Karya (Persero) Tbk and its competitors. For the Construction industry, the median Cyclically Adjusted PS Ratio is 0.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Adhi Karya (Persero) Tbk's current Cyclically Adjusted PS Ratio is 0.04, which is 64% below median its own 10-year median of 0.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Adhi Karya (Persero) Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Adhi Karya (Persero) Tbk (ISX:ADHI) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp174.06, compared to a current price of Rp133.00 — trading 23.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.04, which is 64% below median its 10-year median of 0.11 and 94.3% below the Construction industry median of 0.70. PT Adhi Karya (Persero) Tbk's overall GF Score™ is 60/100 with 5 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 PT Adhi Karya (Persero) Tbk (ISX:ADHI), the current Cyclically Adjusted PS Ratio is 0.04 as of Aug. 27, 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 PT Adhi Karya (Persero) Tbk (ISX:ADHI) Overvalued in 2026?

Based on GuruFocus' analysis, PT Adhi Karya (Persero) Tbk stock appears to be undervalued. The current stock price of Rp133.00 is trading 23.6% below its estimated GF Value™ of Rp174.06. GuruFocus considers PT Adhi Karya (Persero) Tbk to be Modestly Undervalued.

Key valuation signals for ISX:ADHI:

  • Cyclically Adjusted PS Ratio: 0.04 (64% below median its 10-year median of 0.11)
  • GF Value™: Rp174.06 vs. price of Rp133.00 (23.6% below fair value)
  • GF Score™: 60/100 with 5 warning signs
  • Industry Position: 94.3% below the Construction median (#29 of 1368)

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


PT Adhi Karya (Persero) Tbk Business Description

Other Exchanges KM6:Germany
Address Jalan Raya Pasar Minggu Km. 18, Harmonis Building, Jakata, IDN, 12510
PT Adhi Karya (Persero) Tbk is an Indonesia-based company that provides construction services. The company operates through segments namely the Engineering and Infrastructure segment, Property and Hospitality, Manufacturing, Investments and Concessions. The company generates majority of its revenue from the Engineering and Infrastructure segment.
60GF Score

Get the complete analysis for ISX:ADHI

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

Rp133.00
Price
Rp174.06
GF Value