Air France-KLM (LTS:0LN7) 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
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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.

LTS:0LN7 Air France-KLM LTS:0LN7
63 GF Score
Price €11.53
GF Value €10.92
Valuation Fairly Valued
! 4 Warning Signs
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What is Air France-KLM Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Air France-KLM  (LTS:0LN7) 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.


Air France-KLM Cyclically Adjusted PS Ratio Related Terms


Air France-KLM Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Air France-KLM'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.

Air France-KLM Cyclically Adjusted PS Ratio Chart

Air France-KLM 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 0.06 0.04 0.04 0.03 0.05

Air France-KLM 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 0.04 0.05 0.05 0.04 0.06

LTS:0LN7 vs DAL, UAL, LUV: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, Air France-KLM'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.


Air France-KLM Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Air France-KLM's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Air France-KLM's Cyclically Adjusted PS Ratio falls into.


LTS:0LN7
63GF Score
Air France-KLM LTS:0LN7
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Air France-KLM 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.

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

For example, Air France-KLM'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)
=35.325/123.5000*123.5000
=35.325

Current CPI (Jun. 2026) = 123.5000.

Air France-KLM Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 100.987 100.340 124.296
201612 89.198 100.650 109.448
201703 96.208 101.170 117.443
201706 99.762 101.320 121.601
201709 103.906 101.330 126.640
201712 74.044 101.850 89.783
201803 68.499 102.750 82.332
201806 78.173 103.370 93.396
201809 89.004 103.560 106.141
201812 77.111 103.470 92.038
201903 70.103 103.890 83.335
201906 82.833 104.580 97.819
201909 89.771 104.500 106.093
201912 68.057 104.980 80.063
202003 59.233 104.590 69.942
202006 13.935 104.790 16.423
202009 29.782 104.550 35.180
202012 27.883 104.960 32.808
202103 25.499 105.750 29.779
202106 21.615 106.340 25.103
202109 35.910 106.810 41.521
202112 38.041 107.850 43.561
202203 34.951 110.490 39.066
202206 26.116 112.550 28.657
202209 31.587 112.740 34.602
202212 27.747 114.160 30.017
202303 24.633 116.790 26.048
202306 29.673 117.650 31.148
202309 33.705 118.260 35.198
202312 28.204 118.390 29.421
202403 25.336 119.470 26.191
202406 30.267 120.200 31.098
202409 33.014 119.560 34.102
202412 29.997 119.950 30.885
202503 27.279 120.380 27.986
202506 31.033 121.360 31.580
202509 32.605 120.950 33.292
202512 29.567 120.890 30.205
202603 28.478 122.410 28.732
202606 35.325 123.500 35.325

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 Air France-KLM (LTS:0LN7) Overvalued in 2026?

Based on GuruFocus' analysis, Air France-KLM stock appears to be overvalued. The current stock price of €11.53 is trading 5.6% above its estimated GF Value™ of €10.92. GuruFocus considers Air France-KLM to be Fairly Valued.

Key valuation signals for LTS:0LN7:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €10.92 vs. price of €11.53 (5.6% above fair value)
  • GF Score™: 63/100 with 4 warning signs

No single metric tells the full story. See the LTS:0LN7 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Air France-KLM Business Description

Address 7 Rue du Cirque, Paris, FRA, 75008
Air France-KLM is a European airline group engaged in businesses that include passenger and cargo transportation, low-cost operations, and aircraft maintenance. The group has four segments: network, maintenance, Transavia, and other. The network segment derives key revenue for the passenger and cargo network, mainly coming from passenger transportation services on scheduled flights with the group's airline code. The company's geographic markets include France, Benelux, Europe, and the rest of the world, with the majority of revenue coming from France, including its overseas division.
63GF Score

Get the complete analysis for LTS:0LN7

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

€11.53
Price
€10.92
GF Value