Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
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.
The historical rank and industry rank for Central Depository Services (India)'s Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:CDSL'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 41.42 Med: 50.95 Max: 72.17
Current: 46.63
During the past years, Central Depository Services (India)'s highest Cyclically Adjusted PS Ratio was 72.17. The lowest was 41.42. And the median was 50.95.
NSE:CDSL's Cyclically Adjusted PS Ratio is ranked worse than 97.04% of 574
companies
in the Capital Markets industry
Industry Median: 3.725
vs NSE:CDSL: 46.63
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.
Central Depository Services (India)'s adjusted revenue per share data for the three months ended in Jun. 2026 was ₹14.001. 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 ₹30.34 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Central Depository Services (India) (NSE:CDSL) 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.
Central Depository Services (India) Cyclically Adjusted PS Ratio Related Terms
Central Depository Services (India) Cyclically Adjusted PS Ratio Historical Data
* 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.
Central Depository Services (India) Cyclically Adjusted PS Ratio Chart
NSE:CDSL vs MS, GS, SCHW: Cyclically Adjusted PS Ratio Comparison
For the Capital Markets subindustry, Central Depository Services (India)'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.
Central Depository Services (India) Cyclically Adjusted PS Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Central Depository Services (India)'s Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Central Depository Services (India)'s Cyclically Adjusted PS Ratio falls into.
Central Depository Services (India) 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.
* 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 46.23 mean?
Central Depository Services (India) (NSE:CDSL) has a Cyclically Adjusted PS Ratio of 46.23 as of Sep. 01, 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 Central Depository Services (India) and its competitors. This is near median its historical median of 50.95. Over the past decade, Central Depository Services (India)'s Cyclically Adjusted PS Ratio has ranged from 41.42 to 72.17. According to the industry distribution chart, Central Depository Services (India) ranks #557 out of 574 companies in the Capital Markets industry, placing it in the top 97%.
Is Central Depository Services (India)'s Cyclically Adjusted PS Ratio too high?
Central Depository Services (India)'s current Cyclically Adjusted PS Ratio of 46.23 is near median its 10-year median of 50.95. Over the past 10 years, this metric has ranged from a low of 41.42 to a high of 72.17. The Capital Markets industry median Cyclically Adjusted PS Ratio is 3.73. Central Depository Services (India)'s value of 46.23 is 1141.1% above this industry median. Based on the distribution chart, Central Depository Services (India) ranks #557 out of 574 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Central Depository Services (India) has a GF Score™ of 99/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Central Depository Services (India)'s Cyclically Adjusted PS Ratio compare to MS and GS?
According to the Capital Markets industry distribution chart, Central Depository Services (India) ranks #557 out of 574 companies for Cyclically Adjusted PS Ratio. This places Central Depository Services (India) in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.73. Central Depository Services (India)'s value of 46.23 is 1141.1% above this benchmark. Historically, Central Depository Services (India)'s own Cyclically Adjusted PS Ratio has ranged from 41.42 to 72.17 over the past decade. While the company's 10-year median is 50.95 vs. the industry median of 3.73, Central Depository Services (India) 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 Capital Markets company?
The median Cyclically Adjusted PS Ratio among Capital Markets companies is 3.73, based on 574 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. Central Depository Services (India)'s current Cyclically Adjusted PS Ratio of 46.23 is 1141.1% 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 Central Depository Services (India) and its competitors. For the Capital Markets industry, the median Cyclically Adjusted PS Ratio is 3.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Central Depository Services (India)'s current Cyclically Adjusted PS Ratio is 46.23, which is near median its own 10-year median of 50.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Central Depository Services (India) stock overvalued right now?
Based on GuruFocus' analysis, Central Depository Services (India) (NSE:CDSL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹1,654.95, compared to a current price of ₹1,402.50 — trading 15.3% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 46.23, which is near median its 10-year median of 50.95 and 1141.1% above the Capital Markets industry median of 3.73. Central Depository Services (India)'s overall GF Score™ is 99/100 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 Central Depository Services (India) (NSE:CDSL), the current Cyclically Adjusted PS Ratio is 46.23 as of Sep. 01, 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 Central Depository Services (India) (NSE:CDSL) Overvalued in 2026?
Based on GuruFocus' analysis, Central Depository Services (India) stock appears to be undervalued.
The current stock price of ₹1,402.50 is trading 15.3% below its estimated GF Value™ of ₹1,654.95.
GuruFocus considers Central Depository Services (India) to be Modestly Undervalued.
Key valuation signals for NSE:CDSL:
Cyclically Adjusted PS Ratio: 46.23 (near median its 10-year median of 50.95)
GF Value™: ₹1,654.95 vs. price of ₹1,402.50 (15.3% below fair value)
Industry Position: 1141.1% above the Capital Markets median (#557 of 574)
No single metric tells the full story. See the NSE:CDSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Central Depository Services (India) Ltd is a securities depository in India. It offers dematerialization for a wide range of securities, including equity shares, preference shares, mutual fund units, debt instruments, and government securities. In addition, it is involved in centralized record keeping of KYC documents of investors, and providing repository services to policyholders to store their receipts and policies in electronic form. The group operates in three segments: Depository, Data Entry, and Storage and Repository. A majority of its revenue is generated from the Depository segment, which provides various services to investors, including dematerialization, rematerialization, holding, transfer, and pledge of securities in electronic form, as well as e-voting services to companies.
99GF Score
Get the complete analysis for NSE:CDSL
Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:CDSL has been successfully added to your 
