Perusahaan Gas Negara (Persero) Tbk PT (ISX:PGAS) Cyclically Adjusted PS Ratio: 0.61 (As of Jul. 31, 2026) — 18% Below Median

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ISX:PGAS Perusahaan Gas Negara (Persero) Tbk PT ISX:PGAS
92 GF Score
Price Rp1,500.00
GF Value Rp1,820.89
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Perusahaan Gas Negara (Persero) Tbk PT Cyclically Adjusted PS Ratio?

Perusahaan Gas Negara (Persero) Tbk PT ISX:PGAS +0.67% 92 Cyclically Adjusted PS Ratio is 0.61 as of Jul. 31, 2026, which is 18% below its 10-year median of 0.74. GuruFocus rates ISX:PGAS with a GF Score™ of 92/100 and a GF Value™ of Rp1,820.89 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 441 Utilities - Regulated companies, Perusahaan Gas Negara (Persero) Tbk PT ranks better than 75.28% on this metric.

As of today (2026-07-31), Perusahaan Gas Negara (Persero) Tbk PT's current share price is Rp1500.00. Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was Rp2,454.89. Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted PS Ratio for today is 0.61.

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

ISX:PGAS' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.39   Med: 0.74   Max: 1.71
Current: 0.62

During the past years, Perusahaan Gas Negara (Persero) Tbk PT's highest Cyclically Adjusted PS Ratio was 1.71. The lowest was 0.39. And the median was 0.74.

ISX:PGAS's Cyclically Adjusted PS Ratio is ranked better than
75.28% of 441 companies
in the Utilities - Regulated industry
Industry Median: 1.43 vs ISX:PGAS: 0.62

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.

Perusahaan Gas Negara (Persero) Tbk PT's adjusted revenue per share data for the three months ended in Mar. 2026 was Rp649.171. 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 Rp2,454.89 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Perusahaan Gas Negara (Persero) Tbk PT  (ISX:PGAS) 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.


Perusahaan Gas Negara (Persero) Tbk PT Cyclically Adjusted PS Ratio Related Terms


Perusahaan Gas Negara (Persero) Tbk PT Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Perusahaan Gas Negara (Persero) Tbk PT'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.

Perusahaan Gas Negara (Persero) Tbk PT Cyclically Adjusted PS Ratio Chart

Perusahaan Gas Negara (Persero) Tbk PT 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 0.70 0.82 0.50 0.69 0.79

Perusahaan Gas Negara (Persero) Tbk PT 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 0.67 0.68 0.71 0.79 0.75

ISX:PGAS vs ATO, NI, UGI: Cyclically Adjusted PS Ratio Comparison

For the Utilities - Regulated Gas subindustry, Perusahaan Gas Negara (Persero) Tbk PT'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.


Perusahaan Gas Negara (Persero) Tbk PT Cyclically Adjusted PS Ratio vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


ISX:PGAS
92GF Score
Perusahaan Gas Negara (Persero) Tbk PT ISX:PGAS
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Perusahaan Gas Negara (Persero) Tbk PT 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.

Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=1500.00/2454.89
=0.61

* 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.

Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Perusahaan Gas Negara (Persero) Tbk PT'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)
=649.171/136.5387*136.5387
=649.171

Current CPI (Mar. 2026) = 136.5387.

Perusahaan Gas Negara (Persero) Tbk PT Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 396.013 103.212 523.882
201609 387.604 104.142 508.179
201612 431.298 105.222 559.664
201703 410.668 106.476 526.618
201706 364.953 107.722 462.584
201709 413.520 108.020 522.693
201712 786.225 109.017 984.711
201803 535.509 110.097 664.124
201806 562.312 111.085 691.160
201809 596.031 111.135 732.278
201812 586.451 112.430 712.206
201903 513.535 112.829 621.451
201906 537.393 114.730 639.543
201909 595.179 114.905 707.239
201912 599.402 115.486 708.672
202003 549.820 116.252 645.765
202006 349.244 116.630 408.861
202009 417.669 116.397 489.945
202012 429.412 117.318 499.764
202103 436.036 117.840 505.226
202106 432.608 118.184 499.795
202109 464.444 118.262 536.222
202112 462.134 119.516 527.955
202203 495.376 120.948 559.231
202206 547.064 123.322 605.692
202209 556.704 125.298 606.645
202212 597.141 126.098 646.585
202303 589.598 126.953 634.119
202306 523.866 127.663 560.288
202309 574.908 128.151 612.535
202312 611.633 129.395 645.402
202403 615.052 130.607 642.985
202406 599.130 130.792 625.456
202409 618.804 130.361 648.129
202412 643.019 131.432 668.006
202503 656.644 131.948 679.488
202506 653.421 133.241 669.595
202509 670.848 133.819 684.482
202512 725.734 135.271 732.535
202603 649.171 136.539 649.171

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 0.61 mean?
Perusahaan Gas Negara (Persero) Tbk PT (ISX:PGAS) has a Cyclically Adjusted PS Ratio of 0.61 as of Jul. 31, 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 Perusahaan Gas Negara (Persero) Tbk PT and its competitors. This is 18% below median its historical median of 0.74. Over the past decade, Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted PS Ratio has ranged from 0.39 to 1.71. According to the industry distribution chart, Perusahaan Gas Negara (Persero) Tbk PT ranks #109 out of 441 companies in the Utilities - Regulated industry, placing it in the top 24.7%.
Is Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted PS Ratio too high?
Perusahaan Gas Negara (Persero) Tbk PT's current Cyclically Adjusted PS Ratio of 0.61 is 18% below median its 10-year median of 0.74. Over the past 10 years, this metric has ranged from a low of 0.39 to a high of 1.71. The Utilities - Regulated industry median Cyclically Adjusted PS Ratio is 1.43. Perusahaan Gas Negara (Persero) Tbk PT's value of 0.61 is 57.3% below this industry median. Based on the distribution chart, Perusahaan Gas Negara (Persero) Tbk PT ranks #109 out of 441 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Perusahaan Gas Negara (Persero) Tbk PT has a GF Score™ of 92/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Perusahaan Gas Negara (Persero) Tbk PT's Cyclically Adjusted PS Ratio compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Perusahaan Gas Negara (Persero) Tbk PT ranks #109 out of 441 companies for Cyclically Adjusted PS Ratio. This places Perusahaan Gas Negara (Persero) Tbk PT in the top 25% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 1.43. Perusahaan Gas Negara (Persero) Tbk PT's value of 0.61 is 57.3% below this benchmark. Historically, Perusahaan Gas Negara (Persero) Tbk PT's own Cyclically Adjusted PS Ratio has ranged from 0.39 to 1.71 over the past decade. While the company's 10-year median is 0.74 vs. the industry median of 1.43, Perusahaan Gas Negara (Persero) Tbk PT 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 an Utilities - Regulated company?
The median Cyclically Adjusted PS Ratio among Utilities - Regulated companies is 1.43, based on 441 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. Perusahaan Gas Negara (Persero) Tbk PT's current Cyclically Adjusted PS Ratio of 0.61 is 57.3% 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 Perusahaan Gas Negara (Persero) Tbk PT and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PS Ratio is 1.43 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Perusahaan Gas Negara (Persero) Tbk PT's current Cyclically Adjusted PS Ratio is 0.61, which is 18% below median its own 10-year median of 0.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Perusahaan Gas Negara (Persero) Tbk PT stock overvalued right now?
Based on GuruFocus' analysis, Perusahaan Gas Negara (Persero) Tbk PT (ISX:PGAS) is currently considered Modestly Undervalued. The stock's GF Value™ is Rp1,820.89, compared to a current price of Rp1,500.00 — trading 17.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.61, which is 18% below median its 10-year median of 0.74 and 57.3% below the Utilities - Regulated industry median of 1.43. Perusahaan Gas Negara (Persero) Tbk PT's overall GF Score™ is 92/100 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 Perusahaan Gas Negara (Persero) Tbk PT (ISX:PGAS), the current Cyclically Adjusted PS Ratio is 0.61 as of Jul. 31, 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 Perusahaan Gas Negara (Persero) Tbk PT (ISX:PGAS) Overvalued in 2026?

Based on GuruFocus' analysis, Perusahaan Gas Negara (Persero) Tbk PT stock appears to be undervalued. The current stock price of Rp1,500.00 is trading 17.6% below its estimated GF Value™ of Rp1,820.89. GuruFocus considers Perusahaan Gas Negara (Persero) Tbk PT to be Modestly Undervalued.

Key valuation signals for ISX:PGAS:

  • Cyclically Adjusted PS Ratio: 0.61 (18% below median its 10-year median of 0.74)
  • GF Value™: Rp1,820.89 vs. price of Rp1,500.00 (17.6% below fair value)
  • GF Score™: 92/100 with 3 warning signs
  • Industry Position: 57.3% below the Utilities - Regulated median (#109 of 441)

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


Perusahaan Gas Negara (Persero) Tbk PT Business Description

Address Jalan KH. Zainul Arifin Number 20, Jakarta, IDN, 11140
Perusahaan Gas Negara (Persero) Tbk PT is an Indonesian natural gas company of which the Republic of Indonesia holds a majority stake. PGN is involved in the transmission and distribution of natural gas. The company's segments include Natural gas trading and transmission, Exploration and production of oil and gas, and Other operation.
92GF Score

Get the complete analysis for ISX:PGAS

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

Rp1,500.00
Price
Rp1,820.89
GF Value