RS2 (MAL:RS2) Cyclically Adjusted PS Ratio: (As of Sep. 22, 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.

MAL:RS2 RS2 PLC MAL:RS2
46 GF Score
Price €0.46
! 4 Warning Signs
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What is RS2 Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


RS2  (MAL:RS2) 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.


RS2 Cyclically Adjusted PS Ratio Related Terms


RS2 Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for RS2'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.

RS2 Cyclically Adjusted PS Ratio Chart

RS2 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 14.59 9.60 8.69 3.29 2.14

RS2 Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 5.59 3.12 2.27 2.13 2.88

MAL:RS2 vs MSFT, PLTR, ORCL: Cyclically Adjusted PS Ratio Comparison

For the Software - Infrastructure subindustry, RS2'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.


RS2 Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, RS2's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where RS2's Cyclically Adjusted PS Ratio falls into.


MAL:RS2
46GF Score
RS2 PLC MAL:RS2
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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RS2 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.

RS2's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, RS2's adjusted Revenue per Share data for the fiscal year that ended in Dec25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=0.184/324.0540*324.0540
=0.184

Current CPI (Dec25) = 324.0540.

RS2 Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 0.079 241.432 0.106
201712 0.080 246.524 0.105
201812 0.115 251.233 0.148
201912 0.102 256.974 0.129
202012 0.124 260.474 0.154
202112 0.178 278.802 0.207
202212 0.173 296.797 0.189
202312 0.182 306.746 0.192
202412 0.172 315.605 0.177
202512 0.184 324.054 0.184

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.


RS2 Business Description

Address Fort Road, RS2 Buildings, Mosta, MLT, 1859
RS2 PLC is engaged in providing Payments Software and Managed Services. It is involved in the development, installation, implementation, and marketing of computer software for financial institutions under the trademark of BankWORKS and the processing of payment transactions with the use of BankWORKS. Its segments include Licensing of the company's BankWORKS software to banks and Service providers, including maintenance and enhanced services thereto; Processing of payment transactions utilizing the group's BankWORKS software; and Merchant Solutions, which include issuing and acquiring payment solutions directly to merchants, including terminal and PSP gateway services. Its geographic segments include Malta, the United Kingdom and Ireland, the United States, and Other countries.
46GF Score

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

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