BOC Kenya (NAI:BOC) Cyclically Adjusted PS Ratio: 2.49 (As of Aug. 05, 2026) — 108% Above Median

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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.

NAI:BOC BOC Kenya PLC NAI:BOC
73 GF Score
Price KES176.75
GF Value KES90.25
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is BOC Kenya Cyclically Adjusted PS Ratio?

BOC Kenya NAI:BOC +0.43% 73 Cyclically Adjusted PS Ratio is 2.49 as of Aug. 05, 2026, which is 108% above its 10-year median of 1.20. GuruFocus rates NAI:BOC with a GF Score™ of 73/100 and a GF Value™ of KES90.25 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,275 Chemicals companies, BOC Kenya ranks worse than 71.22% on this metric.

As of today (2026-08-05), BOC Kenya's current share price is KES176.75. BOC Kenya's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 was KES70.99. BOC Kenya's Cyclically Adjusted PS Ratio for today is 2.49.

The historical rank and industry rank for BOC Kenya's Cyclically Adjusted PS Ratio or its related term are showing as below:

NAI:BOC' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.95   Med: 1.2   Max: 2.5
Current: 2.41

During the past 13 years, BOC Kenya's highest Cyclically Adjusted PS Ratio was 2.50. The lowest was 0.95. And the median was 1.20.

NAI:BOC's Cyclically Adjusted PS Ratio is ranked worse than
71.22% of 1275 companies
in the Chemicals industry
Industry Median: 1.28 vs NAI:BOC: 2.41

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

BOC Kenya's adjusted revenue per share data of for the fiscal year that ended in Dec25 was KES73.088. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is KES70.99 for the trailing ten years ended in Dec25.

Shiller PE for Stocks: The True Measure of Stock Valuation


BOC Kenya  (NAI:BOC) 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.


BOC Kenya Cyclically Adjusted PS Ratio Related Terms


BOC Kenya Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for BOC Kenya'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.

BOC Kenya Cyclically Adjusted PS Ratio Chart

BOC Kenya 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 1.05 1.02 1.16 1.27 1.79

BOC Kenya Semi-Annual Data
Dec12 Dec13 Dec14 Dec15 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.05 1.02 1.16 1.27 1.79

NAI:BOC vs DOW: Cyclically Adjusted PS Ratio Comparison

For the Chemicals subindustry, BOC Kenya'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.


BOC Kenya Cyclically Adjusted PS Ratio vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, BOC Kenya's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NAI:BOC
73GF Score
BOC Kenya PLC NAI:BOC
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BOC Kenya 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.

BOC Kenya's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=176.75/70.99
=2.49

* 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.

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

For example, BOC Kenya'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)
=73.088/324.0540*324.0540
=73.088

Current CPI (Dec25) = 324.0540.

BOC Kenya Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 55.146 241.432 74.018
201712 49.558 246.524 65.144
201812 49.503 251.233 63.852
201912 49.980 256.974 63.027
202012 56.241 260.474 69.969
202112 70.769 278.802 82.255
202212 65.928 296.797 71.983
202312 78.840 306.746 83.289
202412 61.675 315.605 63.326
202512 73.088 324.054 73.088

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.

What does a Cyclically Adjusted PS Ratio of 2.49 mean?
BOC Kenya (NAI:BOC) has a Cyclically Adjusted PS Ratio of 2.49 as of Aug. 05, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on BOC Kenya and its competitors. This is 108% above median its historical median of 1.20. Over the past decade, BOC Kenya's Cyclically Adjusted PS Ratio has ranged from 0.95 to 2.50. According to the industry distribution chart, BOC Kenya ranks #908 out of 1275 companies in the Chemicals industry, placing it in the top 71.2%.
Is BOC Kenya's Cyclically Adjusted PS Ratio too high?
BOC Kenya's current Cyclically Adjusted PS Ratio of 2.49 is 108% above median its 10-year median of 1.20. Over the past 10 years, this metric has ranged from a low of 0.95 to a high of 2.50. The Chemicals industry median Cyclically Adjusted PS Ratio is 1.28. BOC Kenya's value of 2.49 is 94.5% above this industry median. Based on the distribution chart, BOC Kenya ranks #908 out of 1275 companies in the Chemicals industry, which is below the industry midpoint. Overall, BOC Kenya has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BOC Kenya's Cyclically Adjusted PS Ratio compare to DOW?
According to the Chemicals industry distribution chart, BOC Kenya ranks #908 out of 1275 companies for Cyclically Adjusted PS Ratio. This places BOC Kenya in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.28. BOC Kenya's value of 2.49 is 94.5% above this benchmark. Historically, BOC Kenya's own Cyclically Adjusted PS Ratio has ranged from 0.95 to 2.50 over the past decade. While the company's 10-year median is 1.20 vs. the industry median of 1.28, BOC Kenya has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Chemicals company?
The median Cyclically Adjusted PS Ratio among Chemicals companies is 1.28, based on 1,275 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. BOC Kenya's current Cyclically Adjusted PS Ratio of 2.49 is 94.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on BOC Kenya and its competitors. For the Chemicals industry, the median Cyclically Adjusted PS Ratio is 1.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BOC Kenya's current Cyclically Adjusted PS Ratio is 2.49, which is 108% above median its own 10-year median of 1.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BOC Kenya stock overvalued right now?
Based on GuruFocus' analysis, BOC Kenya (NAI:BOC) is currently considered Significantly Overvalued. The stock's GF Value™ is KES90.25, compared to a current price of KES176.75 — trading 95.8% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.49, which is 108% above median its 10-year median of 1.20 and 94.5% above the Chemicals industry median of 1.28. BOC Kenya's overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For BOC Kenya (NAI:BOC), the current Cyclically Adjusted PS Ratio is 2.49 as of Aug. 05, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is BOC Kenya (NAI:BOC) Overvalued in 2026?

Based on GuruFocus' analysis, BOC Kenya stock appears to be overvalued. The current stock price of KES176.75 is trading 95.8% above its estimated GF Value™ of KES90.25. GuruFocus considers BOC Kenya to be Significantly Overvalued.

Key valuation signals for NAI:BOC:

  • Cyclically Adjusted PS Ratio: 2.49 (108% above median its 10-year median of 1.20)
  • GF Value™: KES90.25 vs. price of KES176.75 (95.8% above fair value)
  • GF Score™: 73/100 with 3 warning signs
  • Industry Position: 94.5% above the Chemicals median (#908 of 1275)

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


BOC Kenya Business Description

Address 14 Kitui Road, off Kampala Road, P.O. Box 18010, Industrial Area, Nairobi, KEN, 00500
BOC Kenya PLC is involved in the manufacture and sale of industrial and medical gases and welding products. Its product range consists of Bulk gases, Packaged gases, and Engineering services. Bulk gases include liquid oxygen and liquid nitrogen. Packaged gases comprise medical gases, industrial gases, special gas mixtures, and liquefied petroleum gas. The engineering services include supplies of medical equipment, construction of medical and other gas pipelines, liquefied petroleum gas installations, tanks and pipelines, industrial gas storage and pipeline installations, and related maintenance services. The company generates the majority of its revenue from the sale of medical and industrial gases.
73GF Score

Get the complete analysis for NAI:BOC

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

KES176.75
Price
KES90.25
GF Value