Vukile Property Fund (NAM:VKN) 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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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.

NAM:VKN Vukile Property Fund Ltd NAM:VKN
73 GF Score
Price R23.97
GF Value R20.39
Valuation Modestly Overvalued
! 9 Warning Signs
View Full Analysis

What is Vukile Property Fund Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Vukile Property Fund  (NAM:VKN) 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.


Vukile Property Fund Cyclically Adjusted PS Ratio Related Terms


Vukile Property Fund Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Vukile Property Fund'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.

Vukile Property Fund Cyclically Adjusted PS Ratio Chart

Vukile Property Fund Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.27 2.76 3.32 3.79 4.78

Vukile Property Fund Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 3.27 3.90 3.72 4.40 4.72

NAM:VKN vs SPG, O, KIM: Cyclically Adjusted PS Ratio Comparison

For the REIT - Retail subindustry, Vukile Property Fund'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.


Vukile Property Fund Cyclically Adjusted PS Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Vukile Property Fund's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NAM:VKN
73GF Score
Vukile Property Fund Ltd NAM:VKN
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Vukile Property Fund 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.

Vukile Property Fund's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Mar26 is calculated as:

For example, Vukile Property Fund's adjusted Revenue per Share data for the fiscal year that ended in Mar26 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar26 (Change)*Current CPI (Mar26)
=4.689/164.7700*164.7700
=4.689

Current CPI (Mar26) = 164.7700.

Vukile Property Fund Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201703 2.909 111.400 4.303
201803 3.089 115.542 4.405
201903 3.703 120.774 5.052
202003 4.107 125.679 5.384
202103 3.489 129.628 4.435
202203 3.952 137.594 4.733
202303 4.064 147.586 4.537
202403 3.901 155.483 4.134
202503 4.406 159.728 4.545
202603 4.689 164.770 4.689

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 Vukile Property Fund (NAM:VKN) Overvalued in 2026?

Based on GuruFocus' analysis, Vukile Property Fund stock appears to be overvalued. The current stock price of R23.97 is trading 17.6% above its estimated GF Value™ of R20.39. GuruFocus considers Vukile Property Fund to be Modestly Overvalued.

Key valuation signals for NAM:VKN:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: R20.39 vs. price of R23.97 (17.6% above fair value)
  • GF Score™: 73/100 with 9 warning signs

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


Vukile Property Fund Business Description

Industry Real EstateREITs
Other Exchanges VKE:South Africa
Address 11 Ninth Street, 4th Floor, Houghton Estate, Johannesburg, GT, ZAF, 2198
Vukile Property Fund Ltd is a real estate company that owns property throughout South Africa. The company derives its revenue predominantly from property leases. Retail properties, particularly shopping malls, represent more than half of Vukile's property portfolio. Offices, industrial buildings, and sovereign properties are also its portfolio constituents. The majority of the company's tenants are large, listed national companies and franchises, with the remainder comprising government and midsize to large professional firms. The company's geographical segment includes South Africa and the Iberian Peninsula, which is further disaggregated into Spain and Portugal.
73GF Score

Get the complete analysis for NAM:VKN

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

R23.97
Price
R20.39
GF Value