Future Market Networks (NSE:FMNL) Cyclically Adjusted PS Ratio: (As of Aug. 25, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
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Charlie Tian
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.

NSE:FMNL Future Market Networks Ltd NSE:FMNL
61 GF Score
Price ₹9.20
GF Value ₹8.04
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Future Market Networks Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Future Market Networks  (NSE:FMNL) 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.


Future Market Networks Cyclically Adjusted PS Ratio Related Terms


Future Market Networks Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Future Market Networks'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.

Future Market Networks Cyclically Adjusted PS Ratio Chart

Future Market Networks 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 0.00 0.00 0.00 0.40 0.32

Future Market Networks Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 0.52 0.39 0.38 0.32 0.00

NSE:FMNL vs CBRE, BEKE, JLL: Cyclically Adjusted PS Ratio Comparison

For the Real Estate Services subindustry, Future Market Networks'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.


Future Market Networks Cyclically Adjusted PS Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Future Market Networks's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Future Market Networks's Cyclically Adjusted PS Ratio falls into.


NSE:FMNL
61GF Score
Future Market Networks Ltd NSE:FMNL
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Future Market Networks 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.

Future Market Networks's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Future Market Networks's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=3.294/167.3573*167.3573
=3.294

Current CPI (Jun. 2026) = 167.3573.

Future Market Networks Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201212 7.441 83.774 14.865
201303 1.554 85.687 3.035
201403 0.000 91.425 0.000
201503 0.000 97.163 0.000
201603 0.000 102.518 0.000
201703 0.000 105.196 0.000
201803 0.000 109.786 0.000
201806 4.426 111.317 6.654
201809 5.775 115.142 8.394
201812 6.012 115.142 8.738
201903 6.050 118.202 8.566
201906 5.199 120.880 7.198
201909 5.414 123.175 7.356
201912 5.666 126.235 7.512
202003 5.692 124.705 7.639
202006 1.804 127.000 2.377
202009 3.213 130.118 4.133
202012 2.798 130.889 3.578
202103 4.040 131.771 5.131
202106 3.095 134.084 3.863
202109 3.672 135.847 4.524
202112 3.990 138.161 4.833
202203 4.079 138.822 4.917
202206 4.018 142.347 4.724
202209 3.852 144.661 4.456
202212 3.826 145.763 4.393
202303 4.367 146.865 4.976
202306 3.898 150.280 4.341
202309 4.188 151.492 4.627
202312 4.060 152.924 4.443
202403 4.243 153.035 4.640
202406 4.269 155.789 4.586
202409 4.527 157.882 4.799
202412 4.407 158.323 4.658
202503 4.198 157.552 4.459
202506 3.638 159.755 3.811
202509 3.622 162.289 3.735
202512 3.625 163.281 3.716
202603 3.806 164.272 3.877
202606 3.294 167.357 3.294

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 Future Market Networks (NSE:FMNL) Overvalued in 2026?

Based on GuruFocus' analysis, Future Market Networks stock appears to be overvalued. The current stock price of ₹9.20 is trading 14.4% above its estimated GF Value™ of ₹8.04. GuruFocus considers Future Market Networks to be Modestly Overvalued.

Key valuation signals for NSE:FMNL:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹8.04 vs. price of ₹9.20 (14.4% above fair value)
  • GF Score™: 61/100 with 5 warning signs

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


Future Market Networks Business Description

Other Exchanges 533296:India
Address Off Jogeshwari Vikhroli Link Road, Knowledge House, Shyam Nagar, Jogeshwari (East), Mumbai, MH, IND, 400060
Future Market Networks Ltd is engaged in the business of building capacity and enabling the infrastructure for future markets. The company operates in one business segment, which is Mall Management. The company has various businesses that are the Retail market, which manages and operates the shopping infrastructure; the Trade market, which provides a marketplace for buyers and sellers; and the Infra logistic market, which creates a logistics market. The company also focuses on project management consultancy. Rental income generates maximum revenue for the company.
61GF Score

Get the complete analysis for NSE:FMNL

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

₹9.20
Price
₹8.04
GF Value