Bancontander (LSE:BNC) Cyclically Adjusted PS Ratio: (As of Aug. 07, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:BNC Banco Santander SA LSE:BNC
60 GF Score
Price £11.00
GF Value £4.89
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Bancontander Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Bancontander  (LSE:BNC) 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.


Bancontander Cyclically Adjusted PS Ratio Related Terms


Bancontander Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Bancontander'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.

Bancontander Cyclically Adjusted PS Ratio Chart

Bancontander 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 0.85 0.81 1.09 1.27 2.81

Bancontander 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 1.97 2.51 2.81 2.61 3.28

LSE:BNC vs JPM, BAC, WFC: Cyclically Adjusted PS Ratio Comparison

For the Banks - Diversified subindustry, Bancontander'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.


Bancontander Cyclically Adjusted PS Ratio vs Banks Industry

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

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


LSE:BNC
60GF Score
Banco Santander SA LSE:BNC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bancontander 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.

Bancontander's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Bancontander'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)
=0.93/131.3300*131.3300
=0.930

Current CPI (Jun. 2026) = 131.3300.

Bancontander Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.609 99.737 0.802
201612 0.625 101.842 0.806
201703 0.686 100.896 0.893
201706 0.703 101.848 0.906
201709 0.656 101.524 0.849
201712 0.654 102.975 0.834
201803 0.646 102.122 0.831
201806 0.647 104.165 0.816
201809 0.563 103.818 0.712
201812 0.690 104.193 0.870
201903 0.637 103.488 0.808
201906 0.677 104.612 0.850
201909 0.451 103.905 0.570
201912 0.641 105.015 0.802
202003 0.599 103.469 0.760
202006 0.592 104.254 0.746
202009 0.706 103.521 0.896
202012 0.536 104.456 0.674
202103 0.503 104.857 0.630
202106 0.620 107.102 0.760
202109 0.527 107.669 0.643
202112 0.831 111.298 0.981
202203 0.581 115.153 0.663
202206 0.600 118.044 0.668
202209 0.657 117.221 0.736
202212 0.658 117.650 0.735
202303 0.749 118.948 0.827
202306 0.716 120.278 0.782
202309 0.742 121.343 0.803
202312 0.719 121.300 0.778
202403 0.806 122.762 0.862
202406 0.817 124.409 0.862
202409 0.771 123.121 0.822
202412 0.802 124.753 0.844
202503 0.775 125.531 0.811
202506 0.781 127.251 0.806
202509 0.773 126.840 0.800
202512 0.835 128.400 0.854
202603 0.884 129.860 0.894
202606 0.930 131.330 0.930

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 Bancontander (LSE:BNC) Overvalued in 2026?

Based on GuruFocus' analysis, Bancontander stock appears to be overvalued. The current stock price of £11.00 is trading 124.9% above its estimated GF Value™ of £4.89. GuruFocus considers Bancontander to be Significantly Overvalued.

Key valuation signals for LSE:BNC:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: £4.89 vs. price of £11.00 (124.9% above fair value)
  • GF Score™: 60/100 with 5 warning signs

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


Bancontander Business Description

Address Avenida de Cantabria s/n, Boadilla del Monte, Ciudad Grupo Santander, Madrid, ESP, 28660
Santander's focus is on retail and commercial banking. Latin America is geographically the most significant operation, with Brazil making the largest contribution. Its continental European business is mainly in Spain and Portugal. Santander's UK presence is the result of its acquisition of Abbey building society. In the US, Santander operates a vehicle finance business and a regional bank focused on the Northeastern states.
60GF Score

Get the complete analysis for LSE:BNC

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

£11.00
Price
£4.89
GF Value