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Bharat ElectronicsNSE:BEL -0.17%99 Cyclically Adjusted PS Ratio is 13.87 as of Aug. 05, 2026, which is 5% below its 10-year median of 14.66. GuruFocus rates NSE:BEL with a GF Score™ of 99/100 and a GF Value™ of ₹422.82 (Fairly Valued). Among 224 Aerospace & Defense companies, Bharat Electronics ranks worse than 91.96% on this metric.
The historical rank and industry rank for Bharat Electronics's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:BEL'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 10.05 Med: 14.66 Max: 17.49
Current: 13.73
During the past years, Bharat Electronics's highest Cyclically Adjusted PS Ratio was 17.49. The lowest was 10.05. And the median was 14.66.
NSE:BEL's Cyclically Adjusted PS Ratio is ranked worse than 91.96% of 224
companies
in the Aerospace & Defense industry
Industry Median: 2.845
vs NSE:BEL: 13.73
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.
Bharat Electronics's adjusted revenue per share data for the three months ended in Jun. 2026 was ₹7.576. 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 ₹28.23 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Bharat Electronics (NSE:BEL) 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.
Bharat Electronics Cyclically Adjusted PS Ratio Related Terms
Bharat Electronics Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Bharat Electronics'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.
Bharat Electronics Cyclically Adjusted PS Ratio Chart
NSE:BEL vs SPCX, GE, RTX: Cyclically Adjusted PS Ratio Comparison
For the Aerospace & Defense subindustry, Bharat Electronics'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.
Bharat Electronics Cyclically Adjusted PS Ratio vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Bharat Electronics's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Bharat Electronics's Cyclically Adjusted PS Ratio falls into.
Bharat Electronics 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.
Bharat Electronics'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 13.87 mean?
Bharat Electronics (NSE:BEL) has a Cyclically Adjusted PS Ratio of 13.87 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 Bharat Electronics and its competitors. This is near median its historical median of 14.66. Over the past decade, Bharat Electronics' Cyclically Adjusted PS Ratio has ranged from 10.05 to 17.49. According to the industry distribution chart, Bharat Electronics ranks #206 out of 224 companies in the Aerospace & Defense industry, placing it in the top 92%.
Is Bharat Electronics' Cyclically Adjusted PS Ratio too high?
Bharat Electronics' current Cyclically Adjusted PS Ratio of 13.87 is near median its 10-year median of 14.66. Over the past 10 years, this metric has ranged from a low of 10.05 to a high of 17.49. The Aerospace & Defense industry median Cyclically Adjusted PS Ratio is 2.85. Bharat Electronics' value of 13.87 is 387.5% above this industry median. Based on the distribution chart, Bharat Electronics ranks #206 out of 224 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Bharat Electronics has a GF Score™ of 99/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Bharat Electronics' Cyclically Adjusted PS Ratio compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Bharat Electronics ranks #206 out of 224 companies for Cyclically Adjusted PS Ratio. This places Bharat Electronics in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 2.85. Bharat Electronics' value of 13.87 is 387.5% above this benchmark. Historically, Bharat Electronics' own Cyclically Adjusted PS Ratio has ranged from 10.05 to 17.49 over the past decade. While the company's 10-year median is 14.66 vs. the industry median of 2.85, Bharat Electronics 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 Aerospace & Defense company?
The median Cyclically Adjusted PS Ratio among Aerospace & Defense companies is 2.85, based on 224 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. Bharat Electronics's current Cyclically Adjusted PS Ratio of 13.87 is 387.5% 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 Bharat Electronics and its competitors. For the Aerospace & Defense industry, the median Cyclically Adjusted PS Ratio is 2.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bharat Electronics's current Cyclically Adjusted PS Ratio is 13.87, which is near median its own 10-year median of 14.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bharat Electronics stock overvalued right now?
Based on GuruFocus' analysis, Bharat Electronics (NSE:BEL) is currently considered Fairly Valued. The stock's GF Value™ is ₹422.82, compared to a current price of ₹391.50 — trading 7.4% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 13.87, which is near median its 10-year median of 14.66 and 387.5% above the Aerospace & Defense industry median of 2.85. Bharat Electronics' overall GF Score™ is 99/100. 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 Bharat Electronics (NSE:BEL), the current Cyclically Adjusted PS Ratio is 13.87 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 Bharat Electronics (NSE:BEL) Overvalued in 2026?
Based on GuruFocus' analysis, Bharat Electronics stock appears to be undervalued.
The current stock price of ₹391.50 is trading 7.4% below its estimated GF Value™ of ₹422.82.
GuruFocus considers Bharat Electronics to be Fairly Valued.
Key valuation signals for NSE:BEL:
Cyclically Adjusted PS Ratio: 13.87 (near median its 10-year median of 14.66)
GF Value™: ₹422.82 vs. price of ₹391.50 (7.4% below fair value)
Industry Position: 387.5% above the Aerospace & Defense median (#206 of 224)
No single metric tells the full story. See the NSE:BEL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bharat Electronics Ltd is an aerospace and defense company predominantly owned by the Indian government. It manufactures a wide range of specialized electronics and equipment for defense and civilian use. Its investments are made in research and development to meet the ever-changing needs of customers and to test products in its pipeline. Its product portfolio includes unmanned systems, land-based radars, batteries, weapon systems, fuzes, simulators, and jammers, among others. It also provides cybersecurity and software products. A majority of the company's revenue is derived from the defense sector. Geographically, the company's key revenue is derived from India, and it also has international customers from countries like the United Kingdom, Israel, and others.
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