Mulberry Group (LSE:MUL) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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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.
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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:MUL Mulberry Group PLC LSE:MUL
31 GF Score
Price £2.76
GF Value £0.97
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Mulberry Group Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Mulberry Group  (LSE:MUL) 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.


Mulberry Group Cyclically Adjusted PS Ratio Related Terms


Mulberry Group Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Mulberry Group'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.

Mulberry Group Cyclically Adjusted PS Ratio Chart

Mulberry Group Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.06 0.70 0.34 0.30 0.33

Mulberry Group Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 0.34 0.40 0.29 0.30 0.33

LSE:MUL vs NKE, DECK, ONON: Cyclically Adjusted PS Ratio Comparison

For the Footwear & Accessories subindustry, Mulberry Group'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.


Mulberry Group Cyclically Adjusted PS Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Mulberry Group's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


LSE:MUL
31GF Score
Mulberry Group PLC LSE:MUL
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Mulberry Group 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.

Mulberry Group's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Mar26 is calculated as:

For example, Mulberry Group's adjusted Revenue per Share data for the fiscal year that ended in Mar26 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar26 (Change)*Current CPI (Mar26)
=1.79/140.8000*140.8000
=1.790

Current CPI (Mar26) = 140.8000.

Mulberry Group Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201703 2.826 102.700 3.874
201803 2.848 105.100 3.815
201903 2.799 107.000 3.683
202003 2.514 108.600 3.259
202103 1.932 109.700 2.480
202203 2.562 116.500 3.096
202303 2.670 126.800 2.965
202403 2.560 131.600 2.739
202503 1.861 136.100 1.925
202603 1.790 140.800 1.790

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 Mulberry Group (LSE:MUL) Overvalued in 2026?

Based on GuruFocus' analysis, Mulberry Group stock appears to be overvalued. The current stock price of £2.76 is trading 184.5% above its estimated GF Value™ of £0.97. GuruFocus considers Mulberry Group to be Significantly Overvalued.

Key valuation signals for LSE:MUL:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: £0.97 vs. price of £2.76 (184.5% above fair value)
  • GF Score™: 31/100 with 7 warning signs

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


Mulberry Group Business Description

Other Exchanges MUY:Germany
Address The Rookery, Chilcompton, Bath, Somerset, GBR, BA3 4EH
Mulberry Group PLC is a manufacturer of luxury leather goods in the United Kingdom. The Group designs, manufactures and manages its business under the Mulberry brand. The company operates in three geographical segments: UK, Asia Pacific, and Other international. Through its Omni Channel operations, the UK segment generates the majority of the revenue for the company.
31GF Score

Get the complete analysis for LSE:MUL

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

£2.76
Price
£0.97
GF Value