Pick N Pay Stores (JSE:PIK) Cyclically Adjusted PS Ratio: (As of Sep. 21, 2026)

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.

JSE:PIK Pick N Pay Stores Ltd JSE:PIK
66 GF Score
Price R18.66
GF Value R24.35
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is Pick N Pay Stores Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Pick N Pay Stores  (JSE:PIK) 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.


Pick N Pay Stores Cyclically Adjusted PS Ratio Related Terms


Pick N Pay Stores Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Pick N Pay Stores'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.

Pick N Pay Stores Cyclically Adjusted PS Ratio Chart

Pick N Pay Stores Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.23 0.21 0.09 0.14 0.10

Pick N Pay Stores Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 0.09 0.12 0.14 0.13 0.09

JSE:PIK vs DDS, M: Cyclically Adjusted PS Ratio Comparison

For the Department Stores subindustry, Pick N Pay Stores'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.


Pick N Pay Stores Cyclically Adjusted PS Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Pick N Pay Stores's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Pick N Pay Stores's Cyclically Adjusted PS Ratio falls into.


JSE:PIK
66GF Score
Pick N Pay Stores Ltd JSE:PIK
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pick N Pay Stores 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.

Pick N Pay Stores's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Feb26 is calculated as:

For example, Pick N Pay Stores's adjusted Revenue per Share data for the fiscal year that ended in Feb26 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Feb26 (Change)*Current CPI (Feb26)
=167.753/163.8300*163.8300
=167.753

Current CPI (Feb26) = 163.8300.

Pick N Pay Stores Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201702 135.719 110.855 200.576
201802 144.815 115.106 206.115
201902 158.635 119.793 216.951
202002 161.336 125.243 211.043
202102 167.171 128.817 212.608
202202 177.334 136.109 213.451
202302 191.776 146.101 215.048
202402 171.765 154.225 182.462
202502 183.846 159.099 189.313
202602 167.753 163.830 167.753

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 Pick N Pay Stores (JSE:PIK) Overvalued in 2026?

Based on GuruFocus' analysis, Pick N Pay Stores stock appears to be undervalued. The current stock price of R18.66 is trading 23.4% below its estimated GF Value™ of R24.35. GuruFocus considers Pick N Pay Stores to be Modestly Undervalued.

Key valuation signals for JSE:PIK:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: R24.35 vs. price of R18.66 (23.4% below fair value)
  • GF Score™: 66/100 with 3 warning signs

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


Pick N Pay Stores Business Description

Other Exchanges PKPYY:USAPIK:Germany
Address 101 Rosmead Avenue, Pick n Pay Office Park, Kenilworth, Cape Town, WC, ZAF, 7708
Pick N Pay Stores Ltd is a South African multiformat and multichannel retailer. The company operates in South Africa, Namibia, Botswana, Zambia, Mauritius, Swaziland, and Lesotho. The company offers food and groceries, clothing, general merchandise, and services across multiple store formats, both franchised and owned. The customer base is mainly represented by middle-income South African consumer. The portfolio of stores is composed of supermarkets, hypermarkets, local shops, express shops, clothing shops, liquor stores, and others.
66GF Score

Get the complete analysis for JSE:PIK

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

R18.66
Price
R24.35
GF Value