Zambia National Commercial Bank (LUS:ZNCO) Cyclically Adjusted PS Ratio: (As of Aug. 30, 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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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.

LUS:ZNCO Zambia National Commercial Bank PLC LUS:ZNCO
79 GF Score
Price ZMW9.48
GF Value ZMW6.17
Valuation Significantly Overvalued
! 5 Warning Signs
View Full Analysis

What is Zambia National Commercial Bank Cyclically Adjusted PS Ratio?

Zambia National Commercial Bank does not have a history long enough to calculate Cyclically Adjusted Revenue per Share. Therefore GuruFocus does not calculate Cyclically Adjusted PS Ratio for this company.

Shiller PE for Stocks: The True Measure of Stock Valuation


Zambia National Commercial Bank  (LUS:ZNCO) 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.


Zambia National Commercial Bank Cyclically Adjusted PS Ratio Related Terms


Zambia National Commercial Bank Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Zambia National Commercial Bank'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.

Zambia National Commercial Bank Cyclically Adjusted PS Ratio Chart

Zambia National Commercial Bank Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
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Zambia National Commercial Bank Quarterly Data
Sep20 Dec20 Mar21 Jun21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 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 0.00 0.00 0.00 0.00 0.00

LUS:ZNCO vs PNC, USB: Cyclically Adjusted PS Ratio Comparison

For the Banks - Regional subindustry, Zambia National Commercial Bank'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.


Zambia National Commercial Bank Cyclically Adjusted PS Ratio vs Banks Industry

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

* The bar in red indicates where Zambia National Commercial Bank's Cyclically Adjusted PS Ratio falls into.


LUS:ZNCO
79GF Score
Zambia National Commercial Bank PLC LUS:ZNCO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zambia National Commercial Bank 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.

Zambia National Commercial Bank does not have a history long enough to calculate Cyclically Adjusted Revenue per Share. Therefore GuruFocus does not calculate Cyclically Adjusted PS Ratio for this company.

Is Zambia National Commercial Bank (LUS:ZNCO) Overvalued in 2026?

Based on GuruFocus' analysis, Zambia National Commercial Bank stock appears to be overvalued. The current stock price of ZMW9.48 is trading 53.6% above its estimated GF Value™ of ZMW6.17. GuruFocus considers Zambia National Commercial Bank to be Significantly Overvalued.

Key valuation signals for LUS:ZNCO:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ZMW6.17 vs. price of ZMW9.48 (53.6% above fair value)
  • GF Score™: 79/100 with 5 warning signs

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


Zambia National Commercial Bank Business Description

Address Cairo Road, Plot 2118 - 2121, P.O Box 33611, Lusaka, ZMB
Zambia National Commercial Bank PLC offers commercial banking services. Its principal activities include: the provision of retail, commercial Banking and related services to the general public, the provision of payment and technology solutions through the Digital Shared Services Limited (DSSL), and offering tailored insurance and risk advisory services. The company's segments include: Corporate Banking, Business Banking, Retail Banking, Digital Banking, and Treasury Management. The majority of revenue is derived from the Corporate banking segment, which provides corporate and investment banking solutions that incorporate direct debit facilities, deposit products, overdrafts, loans and other credit facilities and foreign currency solutions.
79GF Score

Get the complete analysis for LUS:ZNCO

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

ZMW9.48
Price
ZMW6.17
GF Value