Vonovia SE (LUX:VNA) Cyclically Adjusted PS Ratio: (As of Aug. 02, 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.

LUX:VNA Vonovia SE LUX:VNA
65 GF Score
Price €29.01
GF Value €31.43
! 4 Warning Signs
View Full Analysis

What is Vonovia SE 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


Vonovia SE  (LUX:VNA) 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.


Vonovia SE Cyclically Adjusted PS Ratio Related Terms


Vonovia SE Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Vonovia SE'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.

Vonovia SE Cyclically Adjusted PS Ratio Chart

Vonovia SE 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 9.12 4.28 5.17 4.89 3.94

Vonovia SE Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 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 4.09 4.88 4.27 3.94 3.40

LUX:VNA vs CBRE, BEKE, JLL: Cyclically Adjusted PS Ratio Comparison

For the Real Estate Services subindustry, Vonovia SE'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.


Vonovia SE Cyclically Adjusted PS Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Vonovia SE's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


LUX:VNA
65GF Score
Vonovia SE LUX:VNA
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vonovia SE 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.

Vonovia SE's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Vonovia SE's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=1.56/131.2583*131.2583
=1.560

Current CPI (Mar. 2026) = 131.2583.

Vonovia SE Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.984 100.717 1.282
201609 0.900 101.017 1.169
201612 0.933 101.217 1.210
201703 1.014 101.417 1.312
201706 1.008 102.117 1.296
201709 0.987 102.717 1.261
201712 0.987 102.617 1.262
201803 0.983 102.917 1.254
201806 1.197 104.017 1.510
201809 1.276 104.718 1.599
201812 1.246 104.217 1.569
201903 1.097 104.217 1.382
201906 1.153 105.718 1.432
201909 1.146 106.018 1.419
201912 1.338 105.818 1.660
202003 1.190 105.718 1.477
202006 1.229 106.618 1.513
202009 1.230 105.818 1.526
202012 1.298 105.518 1.615
202103 1.245 107.518 1.520
202106 1.493 108.486 1.806
202109 1.535 109.435 1.841
202112 1.522 110.384 1.810
202203 1.556 113.968 1.792
202206 1.824 115.760 2.068
202209 1.897 118.818 2.096
202212 1.559 119.345 1.715
202303 1.695 122.402 1.818
202306 1.795 123.140 1.913
202309 1.492 124.195 1.577
202312 1.242 123.773 1.317
202403 1.600 125.038 1.680
202406 1.587 125.882 1.655
202409 1.707 126.198 1.775
202412 2.343 127.041 2.421
202503 1.663 127.779 1.708
202506 1.654 128.412 1.691
202509 1.606 129.255 1.631
202512 1.524 129.361 1.546
202603 1.560 131.258 1.560

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 Vonovia SE (LUX:VNA) Overvalued in 2026?

Based on GuruFocus' analysis, Vonovia SE stock appears to be undervalued. The current stock price of €29.01 is trading 7.7% below its estimated GF Value™ of €31.43.

Key valuation signals for LUX:VNA:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €31.43 vs. price of €29.01 (7.7% below fair value)
  • GF Score™: 65/100 with 4 warning signs

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


Vonovia SE Business Description

Address Universitatsstrasse 133, Bochum, DEU, 44803
Vonovia SE is a residential real estate company based out of Germany. It owns and manages a multitude of residential units in many German cities and regions. The company makes long-term investments in the maintenance, modernization, and senior-friendly conversion of its properties. In addition to conducting property management, it handles financing, service, and coordination tasks. The company manages its operations through four business segments; Rental, Value-add, Recurring Sales, and Development. Maximum revenue is generated from the Rental segment, which combines all of the business activities that are aimed at the value-enhancing management of its residential real estate. It includes the company's property management activities in Germany, Austria, and Sweden.
65GF Score

Get the complete analysis for LUX:VNA

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

€29.01
Price
€31.43
GF Value