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Adani Total GasNSE:ATGL -1.08%94 Cyclically Adjusted PS Ratio is 22.30 as of Jul. 17, 2026, which is 7% below its 10-year median of 24.03. GuruFocus rates NSE:ATGL with a GF Score™ of 94/100 and a GF Value™ of ₹848.34 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 441 Utilities - Regulated companies, Adani Total Gas ranks worse than 99.09% on this metric.
The historical rank and industry rank for Adani Total Gas's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:ATGL'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 16.39 Med: 24.03 Max: 43.96
Current: 22.82
During the past 12 years, Adani Total Gas's highest Cyclically Adjusted PS Ratio was 43.96. The lowest was 16.39. And the median was 24.03.
NSE:ATGL's Cyclically Adjusted PS Ratio is ranked worse than 99.09% of 441
companies
in the Utilities - Regulated industry
Industry Median: 1.42
vs NSE:ATGL: 22.82
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.
Adani Total Gas's adjusted revenue per share data of for the fiscal year that ended in Mar26 was ₹53.246. 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 ₹31.73 for the trailing ten years ended in Mar26.
Shiller PE for Stocks: The True Measure of Stock Valuation
Adani Total Gas (NSE:ATGL) 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.
Adani Total Gas Cyclically Adjusted PS Ratio Related Terms
Adani Total Gas Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Adani Total Gas'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.
Adani Total Gas Cyclically Adjusted PS Ratio Chart
NSE:ATGL vs ATO, NI, UGI: Cyclically Adjusted PS Ratio Comparison
For the Utilities - Regulated Gas subindustry, Adani Total Gas'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.
Adani Total Gas Cyclically Adjusted PS Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Adani Total Gas's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Adani Total Gas's Cyclically Adjusted PS Ratio falls into.
Adani Total Gas 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.
Adani Total Gas'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 22.30 mean?
Adani Total Gas (NSE:ATGL) has a Cyclically Adjusted PS Ratio of 22.30 as of Jul. 17, 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 Adani Total Gas and its competitors. This is near median its historical median of 24.03. Over the past decade, Adani Total Gas' Cyclically Adjusted PS Ratio has ranged from 16.39 to 43.96. According to the industry distribution chart, Adani Total Gas ranks #437 out of 441 companies in the Utilities - Regulated industry, placing it in the top 99.1%.
Is Adani Total Gas' Cyclically Adjusted PS Ratio too high?
Adani Total Gas' current Cyclically Adjusted PS Ratio of 22.30 is near median its 10-year median of 24.03. Over the past 10 years, this metric has ranged from a low of 16.39 to a high of 43.96. The Utilities - Regulated industry median Cyclically Adjusted PS Ratio is 1.42. Adani Total Gas' value of 22.30 is 1470.4% above this industry median. Based on the distribution chart, Adani Total Gas ranks #437 out of 441 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Adani Total Gas has a GF Score™ of 94/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adani Total Gas' Cyclically Adjusted PS Ratio compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Adani Total Gas ranks #437 out of 441 companies for Cyclically Adjusted PS Ratio. This places Adani Total Gas in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.42. Adani Total Gas' value of 22.30 is 1470.4% above this benchmark. Historically, Adani Total Gas' own Cyclically Adjusted PS Ratio has ranged from 16.39 to 43.96 over the past decade. While the company's 10-year median is 24.03 vs. the industry median of 1.42, Adani Total Gas 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 an Utilities - Regulated company?
The median Cyclically Adjusted PS Ratio among Utilities - Regulated companies is 1.42, based on 441 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. Adani Total Gas's current Cyclically Adjusted PS Ratio of 22.30 is 1470.4% 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 Adani Total Gas and its competitors. For the Utilities - Regulated industry, the median Cyclically Adjusted PS Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adani Total Gas's current Cyclically Adjusted PS Ratio is 22.30, which is near median its own 10-year median of 24.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adani Total Gas stock overvalued right now?
Based on GuruFocus' analysis, Adani Total Gas (NSE:ATGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹848.34, compared to a current price of ₹707.70 — trading 16.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 22.30, which is near median its 10-year median of 24.03 and 1470.4% above the Utilities - Regulated industry median of 1.42. Adani Total Gas' overall GF Score™ is 94/100 with 8 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 Adani Total Gas (NSE:ATGL), the current Cyclically Adjusted PS Ratio is 22.30 as of Jul. 17, 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 Adani Total Gas (NSE:ATGL) Overvalued in 2026?
Based on GuruFocus' analysis, Adani Total Gas stock appears to be undervalued.
The current stock price of ₹707.70 is trading 16.6% below its estimated GF Value™ of ₹848.34.
GuruFocus considers Adani Total Gas to be Modestly Undervalued.
Key valuation signals for NSE:ATGL:
Cyclically Adjusted PS Ratio: 22.30 (near median its 10-year median of 24.03)
GF Value™: ₹848.34 vs. price of ₹707.70 (16.6% below fair value)
Industry Position: 1470.4% above the Utilities - Regulated median (#437 of 441)
No single metric tells the full story. See the NSE:ATGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adani Total Gas Ltd is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial, and vehicle users. The company is exploring doing business in bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment, and provision of value-added services relating to CGD business. It is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential), and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable, and environmentally friendly fuel that allows consumers to enjoy a high level of safety, convenience, and economic efficiency. The Group has a single operating segment that is the sale of Natural Gas.
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