MERFF (Merafe Resources) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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.

MERFF Merafe Resources Ltd MERFF
84 GF Score
Price $0.22
GF Value $0.18
! 5 Warning Signs
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What is Merafe Resources Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Merafe Resources  (OTCPK:MERFF) 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.


Merafe Resources Cyclically Adjusted PS Ratio Related Terms


Merafe Resources Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Merafe Resources'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.

Merafe Resources Cyclically Adjusted PS Ratio Chart

Merafe Resources 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 1.16 1.09 1.06 1.04 1.05

Merafe Resources 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 1.03 1.03 1.04 1.04 1.01

Merafe Resources Cyclically Adjusted PS Ratio Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Merafe Resources'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.


Merafe Resources Cyclically Adjusted PS Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Merafe Resources's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


MERFF
84GF Score
Merafe Resources Ltd MERFF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Merafe Resources 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.

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

For example, Merafe Resources'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)
=0.131/162.8800*162.8800
=0.131

Current CPI (Dec25) = 162.8800.

Merafe Resources Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 0.155 109.002 0.232
201712 0.176 113.907 0.252
201812 0.168 118.921 0.230
201912 0.148 123.717 0.195
202012 0.116 127.467 0.148
202112 0.218 135.029 0.263
202212 0.194 145.156 0.218
202312 0.200 152.718 0.213
202412 0.184 157.212 0.191
202512 0.131 162.880 0.131

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 Merafe Resources (MERFF) Overvalued in 2026?

Based on GuruFocus' analysis, Merafe Resources stock appears to be overvalued. The current stock price of $0.22 is trading 20.9% above its estimated GF Value™ of $0.18.

Key valuation signals for MERFF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $0.18 vs. price of $0.22 (20.9% above fair value)
  • GF Score™: 84/100 with 5 warning signs

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


Merafe Resources Business Description

Other Exchanges MRF:South AfricaRZT:Germany
Address 35 Ballyclare Drive, Building B, 2nd Floor, Ballyoaks Office Park, Bryanston, Johannesburg, GT, ZAF, 2191
Merafe Resources Ltd through its wholly-owned subsidiary, Merafe Ferrochrome and Mining Proprietary Limited, participates in chrome mining and the beneficiation of chrome ore into ferrochrome. The Glencore-Merafe Chrome Venture (Venture) operates five ferrochrome smelters, twenty-two ferrochrome furnaces, and nine mines, situated in the North-West, Limpopo, and Mpumalanga provinces of South Africa. The company has operating mines namel Marikana West; and Kroondal Gemini. The Group has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and associated minerals. Geographically, it has its presence in Africa, Americas, Asia, China, Indonesia, Other Asia, and Europe.
84GF Score

Get the complete analysis for MERFF

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

$0.22
Price
$0.18
GF Value