Telecom Italia SpA (MIL:TIT) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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MIL:TIT Telecom Italia SpA MIL:TIT
44 GF Score
Price €7.78
GF Value €2.85
Valuation Significantly Overvalued
! 8 Warning Signs
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What is Telecom Italia SpA Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Telecom Italia SpA  (MIL:TIT) 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.


Telecom Italia SpA Cyclically Adjusted PS Ratio Related Terms


Telecom Italia SpA Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Telecom Italia SpA'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.

Telecom Italia SpA Cyclically Adjusted PS Ratio Chart

Telecom Italia SpA 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 0.44 0.21 0.31 0.27 0.60

Telecom Italia SpA Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 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 0.45 0.49 0.57 0.67 0.89

MIL:TIT vs VZ, TMUS, T: Cyclically Adjusted PS Ratio Comparison

For the Telecom Services subindustry, Telecom Italia SpA'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.


Telecom Italia SpA Cyclically Adjusted PS Ratio vs Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Telecom Italia SpA's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


MIL:TIT
44GF Score
Telecom Italia SpA MIL:TIT
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Telecom Italia SpA 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.

Telecom Italia SpA's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Telecom Italia SpA's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=1.651/126.4000*126.4000
=1.651

Current CPI (Jun. 2026) = 126.4000.

Telecom Italia SpA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.501 100.100 3.158
201612 2.414 100.300 3.042
201703 2.287 101.000 2.862
201706 2.351 101.100 2.939
201709 2.329 101.200 2.909
201712 2.444 101.200 3.053
201803 2.224 101.800 2.761
201806 2.243 102.400 2.769
201809 2.215 102.600 2.729
201812 2.308 102.300 2.852
201903 2.122 102.800 2.609
201906 2.147 103.100 2.632
201909 2.102 102.900 2.582
201912 2.160 102.800 2.656
202003 1.882 102.900 2.312
202006 1.801 102.900 2.212
202009 1.850 102.300 2.286
202012 1.968 102.600 2.425
202103 1.759 103.700 2.144
202106 1.799 104.200 2.182
202109 1.791 104.900 2.158
202112 1.845 106.600 2.188
202203 1.716 110.400 1.965
202206 1.842 112.500 2.070
202209 1.870 114.200 2.070
202212 2.005 119.000 2.130
202303 1.811 118.800 1.927
202306 1.882 119.700 1.987
202309 1.688 120.300 1.774
202312 1.821 119.700 1.923
202403 1.772 120.200 1.863
202406 1.362 120.700 1.426
202409 1.585 121.200 1.653
202412 1.705 121.200 1.778
202503 1.541 122.500 1.590
202506 1.562 122.700 1.609
202509 1.589 123.100 1.632
202512 1.768 122.600 1.823
202603 1.561 124.560 1.584
202606 1.651 126.400 1.651

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 Telecom Italia SpA (MIL:TIT) Overvalued in 2026?

Based on GuruFocus' analysis, Telecom Italia SpA stock appears to be overvalued. The current stock price of €7.78 is trading 172.8% above its estimated GF Value™ of €2.85. GuruFocus considers Telecom Italia SpA to be Significantly Overvalued.

Key valuation signals for MIL:TIT:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €2.85 vs. price of €7.78 (172.8% above fair value)
  • GF Score™: 44/100 with 8 warning signs

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


Telecom Italia SpA Business Description

Address Via di Val Cannuta, No. 182, Roma, ITA, 00166
Telecom Italia is the incumbent telecommunications operator in Italy, with 23% share in the Italian mobile market and 35% share in broadband. In the mobile market, it competes with Vodafone, WindTre, and Iliad. After the sale of its fixed network to KKR for EUR 18.8 billion in 2024, TIM has become a pure service provider with no network ownership. TIM Brazil is significantly smaller than its peers, Telefonica and America Movil, with 25% wireless market share.
44GF Score

Get the complete analysis for MIL:TIT

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

€7.78
Price
€2.85
GF Value