Anglo American (LSE:AAL) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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.

LSE:AAL Anglo American PLC LSE:AAL
54 GF Score
Price £39.55
GF Value £19.26
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Anglo American Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Anglo American  (LSE:AAL) 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.


Anglo American Cyclically Adjusted PS Ratio Related Terms


Anglo American Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Anglo American'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.

Anglo American Cyclically Adjusted PS Ratio Chart

Anglo American 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 1.55 1.48 0.86 1.03 1.34

Anglo American Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 1.08 1.02 0.94 1.33 1.58

Anglo American Cyclically Adjusted PS Ratio Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Anglo American'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.


Anglo American Cyclically Adjusted PS Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Anglo American's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Anglo American's Cyclically Adjusted PS Ratio falls into.


LSE:AAL
54GF Score
Anglo American PLC LSE:AAL
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Anglo American 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.

Anglo American's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Anglo American's adjusted Revenue per Share data for the fiscal year that ended in Dec25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=12.434/139.9000*139.9000
=12.434

Current CPI (Dec25) = 139.9000.

Anglo American Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 13.838 102.200 18.943
201712 17.894 105.000 23.842
201812 18.141 107.100 23.697
201912 20.704 108.500 26.696
202012 17.982 109.400 22.995
202112 27.418 114.700 33.442
202212 26.410 125.300 29.487
202312 22.952 130.500 24.605
202412 13.056 135.100 13.520
202512 12.434 139.900 12.434

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 Anglo American (LSE:AAL) Overvalued in 2026?

Based on GuruFocus' analysis, Anglo American stock appears to be overvalued. The current stock price of £39.55 is trading 105.3% above its estimated GF Value™ of £19.26. GuruFocus considers Anglo American to be Significantly Overvalued.

Key valuation signals for LSE:AAL:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: £19.26 vs. price of £39.55 (105.3% above fair value)
  • GF Score™: 54/100 with 7 warning signs

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


Anglo American Business Description

Address 17 Charterhouse Street, London, GBR, EC1N 6RA
Previously one of the more diversified major miners, in May 2024 Anglo American announced that it will restructure to focus on copper, iron ore, and crop nutrients, while selling or spinning off its other businesses. It sold out of platinum group metals in September 2025, and will likely sell or demerge and spin off its majority-owned De Beers diamonds business, in most years the world's largest supplier and marketer of rough gem diamonds by value. It is again trying to sell its remaining metallurgical coal mines after Peabody pulled out of a deal to buy them. Anglo also plans to move back into the crop nutrients business via its Woodsmith polyhalite project in the UK. In September 2025, it also agreed to merge with Teck, with the deal likely to complete in late 2026 or early 2027.
54GF Score

Get the complete analysis for LSE:AAL

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

£39.55
Price
£19.26
GF Value