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Asian PaintsNSE:ASIANPAINT +0.96%99 Cyclically Adjusted PS Ratio is 8.38 as of Jul. 29, 2026, which is 18% below its 10-year median of 10.27. GuruFocus rates NSE:ASIANPAINT with a GF Score™ of 99/100 and a GF Value™ of ₹2,991.73 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,276 Chemicals companies, Asian Paints ranks worse than 92.48% on this metric.
The historical rank and industry rank for Asian Paints's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:ASIANPAINT'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 6.65 Med: 10.27 Max: 16.22
Current: 8.08
During the past years, Asian Paints's highest Cyclically Adjusted PS Ratio was 16.22. The lowest was 6.65. And the median was 10.27.
NSE:ASIANPAINT's Cyclically Adjusted PS Ratio is ranked worse than 92.48% of 1276
companies
in the Chemicals industry
Industry Median: 1.285
vs NSE:ASIANPAINT: 8.08
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.
Asian Paints's adjusted revenue per share data for the three months ended in Mar. 2026 was ₹96.212. 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 ₹326.47 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Asian Paints (NSE:ASIANPAINT) 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.
Asian Paints Cyclically Adjusted PS Ratio Related Terms
Asian Paints Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Asian Paints'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.
NSE:ASIANPAINT vs LIN, SHW, ECL: Cyclically Adjusted PS Ratio Comparison
For the Specialty Chemicals subindustry, Asian Paints'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.
Asian Paints Cyclically Adjusted PS Ratio vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Asian Paints's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Asian Paints's Cyclically Adjusted PS Ratio falls into.
Asian Paints 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.
Asian Paints's Cyclically Adjusted PS Ratio for today is calculated as
* 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.
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 8.38 mean?
Asian Paints (NSE:ASIANPAINT) has a Cyclically Adjusted PS Ratio of 8.38 as of Jul. 29, 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 Asian Paints and its competitors. This is 18% below median its historical median of 10.27. Over the past decade, Asian Paints' Cyclically Adjusted PS Ratio has ranged from 6.65 to 16.22. According to the industry distribution chart, Asian Paints ranks #1180 out of 1276 companies in the Chemicals industry, placing it in the top 92.5%.
Is Asian Paints' Cyclically Adjusted PS Ratio too high?
Asian Paints' current Cyclically Adjusted PS Ratio of 8.38 is 18% below median its 10-year median of 10.27. Over the past 10 years, this metric has ranged from a low of 6.65 to a high of 16.22. The Chemicals industry median Cyclically Adjusted PS Ratio is 1.29. Asian Paints' value of 8.38 is 552.1% above this industry median. Based on the distribution chart, Asian Paints ranks #1180 out of 1276 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Asian Paints has a GF Score™ of 99/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Asian Paints' Cyclically Adjusted PS Ratio compare to LIN and SHW?
According to the Chemicals industry distribution chart, Asian Paints ranks #1180 out of 1276 companies for Cyclically Adjusted PS Ratio. This places Asian Paints in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.29. Asian Paints' value of 8.38 is 552.1% above this benchmark. Historically, Asian Paints' own Cyclically Adjusted PS Ratio has ranged from 6.65 to 16.22 over the past decade. While the company's 10-year median is 10.27 vs. the industry median of 1.29, Asian Paints 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 1.29, based on 1,276 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. Asian Paints's current Cyclically Adjusted PS Ratio of 8.38 is 552.1% 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 Asian Paints and its competitors. For the Chemicals industry, the median Cyclically Adjusted PS Ratio is 1.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Asian Paints's current Cyclically Adjusted PS Ratio is 8.38, which is 18% below median its own 10-year median of 10.27. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Asian Paints stock overvalued right now?
Based on GuruFocus' analysis, Asian Paints (NSE:ASIANPAINT) is currently considered Fairly Valued. The stock's GF Value™ is ₹2,991.73, compared to a current price of ₹2,736.20 — trading 8.5% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 8.38, which is 18% below median its 10-year median of 10.27 and 552.1% above the Chemicals industry median of 1.29. Asian Paints' overall GF Score™ is 99/100 with 2 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 Asian Paints (NSE:ASIANPAINT), the current Cyclically Adjusted PS Ratio is 8.38 as of Jul. 29, 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 Asian Paints (NSE:ASIANPAINT) Overvalued in 2026?
Based on GuruFocus' analysis, Asian Paints stock appears to be undervalued.
The current stock price of ₹2,736.20 is trading 8.5% below its estimated GF Value™ of ₹2,991.73.
GuruFocus considers Asian Paints to be Fairly Valued.
Key valuation signals for NSE:ASIANPAINT:
Cyclically Adjusted PS Ratio: 8.38 (18% below median its 10-year median of 10.27)
GF Value™: ₹2,991.73 vs. price of ₹2,736.20 (8.5% below fair value)
Industry Position: 552.1% above the Chemicals median (#1180 of 1276)
No single metric tells the full story. See the NSE:ASIANPAINT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Asian Paints Ltd is in the business of colour, decor, design and protection and operates through Decorative, International, Home Decor, and Industrial segments. The Decorative segment offers interior and exterior wall finishes, wood finishes, waterproofing, enamels, adhesives, tools, and undercoats. The Home Decor segment offers modular kitchens and wardrobes, bath fittings and sanitaryware, decorative lightings, uPVC windows and doors, wall coverings, furniture, fabric and furnishings, and rugs. The International segment caters to customers across Asia, the Middle East, Africa and the South Pacific. The Industrial segment provides automotive, general industrial, packaging, marine, industrial protective coatings, and powder coatings. The majority of revenue comes from India.
99GF Score
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