Inovio Pharmaceuticals (MEX:INO) Cyclically Adjusted PS Ratio: (As of Jul. 31, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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.

MEX:INO Inovio Pharmaceuticals Inc MEX:INO
40 GF Score
Price MXN11.50
GF Value MXN3.68
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Inovio Pharmaceuticals Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Inovio Pharmaceuticals  (MEX:INO) 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.


Inovio Pharmaceuticals Cyclically Adjusted PS Ratio Related Terms


Inovio Pharmaceuticals Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Inovio Pharmaceuticals'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.

Inovio Pharmaceuticals Cyclically Adjusted PS Ratio Chart

Inovio Pharmaceuticals 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 16.59 5.05 1.81 0.54 0.00

Inovio Pharmaceuticals 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 0.50 0.00 0.00 0.00 0.00

MEX:INO vs TELO, ELTX, ALPS: Cyclically Adjusted PS Ratio Comparison

For the Biotechnology subindustry, Inovio Pharmaceuticals'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.


Inovio Pharmaceuticals Cyclically Adjusted PS Ratio vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Inovio Pharmaceuticals's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


MEX:INO
40GF Score
Inovio Pharmaceuticals Inc MEX:INO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Inovio Pharmaceuticals 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.

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

For example, Inovio Pharmaceuticals'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)
=0/330.2130*330.2130
=0.000

Current CPI (Mar. 2026) = 330.2130.

Inovio Pharmaceuticals Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 18.871 241.018 25.855
201609 39.432 241.428 53.933
201612 28.440 241.432 38.898
201703 31.552 243.801 42.735
201706 58.715 244.955 79.151
201709 6.614 246.819 8.849
201712 22.872 246.524 30.636
201803 3.687 249.554 4.879
201806 63.187 251.989 82.802
201809 4.860 252.439 6.357
201812 6.136 251.233 8.065
201903 6.756 254.202 8.776
201906 0.320 256.143 0.413
201909 1.998 256.759 2.570
201912 0.630 256.974 0.810
202003 2.996 258.115 3.833
202006 0.475 257.797 0.608
202009 0.359 260.280 0.455
202012 7.633 260.474 9.677
202103 0.450 264.877 0.561
202106 0.311 271.696 0.378
202109 0.343 274.310 0.413
202112 0.970 278.802 1.149
202203 0.217 287.504 0.249
202206 0.804 296.311 0.896
202209 8.861 296.808 9.858
202212 0.117 296.797 0.130
202303 0.096 301.836 0.105
202306 0.176 305.109 0.190
202309 0.302 307.789 0.324
202312 0.077 306.746 0.083
202403 0.000 312.332 0.000
202406 0.068 314.175 0.071
202409 0.000 315.301 0.000
202412 0.081 315.605 0.085
202503 0.034 319.799 0.035
202506 0.000 322.561 0.000
202509 0.000 324.800 0.000
202512 0.000 324.054 0.000
202603 0.000 330.213 0.000

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 Inovio Pharmaceuticals (MEX:INO) Overvalued in 2026?

Based on GuruFocus' analysis, Inovio Pharmaceuticals stock appears to be overvalued. The current stock price of MXN11.50 is trading 212.5% above its estimated GF Value™ of MXN3.68. GuruFocus considers Inovio Pharmaceuticals to be Significantly Overvalued.

Key valuation signals for MEX:INO:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: MXN3.68 vs. price of MXN11.50 (212.5% above fair value)
  • GF Score™: 40/100 with 4 warning signs

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


Inovio Pharmaceuticals Business Description

Other Exchanges INO:USA0A43:UKGBM:Germany
Address 660 West Germantown Pike, Suite 110, Plymouth Meeting, PA, USA, 19462
Inovio Pharmaceuticals Inc is a clinical-stage biotechnology company focused on developing and commercializing DNA medicines to help treat and protect people from diseases associated with human papillomavirus (HPV), cancer and infectious diseases. INOVIO's platform harnesses the power of in vivo protein production, featuring optimized design and delivery of DNA medicines that teach the body to manufacture its own disease-fighting tools. Its candidate is INO-3107 for the treatment of recurrent respiratory papillomatosis (RRP), a chronic, rare and debilitating disease of the respiratory tract caused by HPV infection. In its completed Phase 1/2 clinical trial of INO-3107 for the treatment of HPV-6 and HPV-11-associated RRP.
40GF 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.

MXN11.50
Price
MXN3.68
GF Value