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Hindustan AeronauticsNSE:HAL +1.00%93 Cyclically Adjusted PS Ratio is 10.62 as of Jul. 28, 2026, which is 7% above its 10-year median of 9.89. GuruFocus rates NSE:HAL with a GF Score™ of 93/100 and a GF Value™ of ₹4,751.26 (Fairly Valued). The stock has 4 warning signs investors should review. Among 224 Aerospace & Defense companies, Hindustan Aeronautics ranks worse than 83.04% on this metric.
The historical rank and industry rank for Hindustan Aeronautics's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:HAL'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 2.18 Med: 9.89 Max: 13.58
Current: 10.51
During the past 13 years, Hindustan Aeronautics's highest Cyclically Adjusted PS Ratio was 13.58. The lowest was 2.18. And the median was 9.89.
NSE:HAL's Cyclically Adjusted PS Ratio is ranked worse than 83.04% of 224
companies
in the Aerospace & Defense industry
Industry Median: 3
vs NSE:HAL: 10.51
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.
Hindustan Aeronautics's adjusted revenue per share data of for the fiscal year that ended in Mar26 was ₹494.757. 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 ₹434.96 for the trailing ten years ended in Mar26.
Shiller PE for Stocks: The True Measure of Stock Valuation
Hindustan Aeronautics (NSE:HAL) 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.
Hindustan Aeronautics Cyclically Adjusted PS Ratio Related Terms
Hindustan Aeronautics Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Hindustan Aeronautics'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.
Hindustan Aeronautics Cyclically Adjusted PS Ratio Chart
NSE:HAL vs SPCX, GE, RTX: Cyclically Adjusted PS Ratio Comparison
For the Aerospace & Defense subindustry, Hindustan Aeronautics'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.
Hindustan Aeronautics Cyclically Adjusted PS Ratio vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Hindustan Aeronautics's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Hindustan Aeronautics's Cyclically Adjusted PS Ratio falls into.
Hindustan Aeronautics 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 10.62 mean?
Hindustan Aeronautics (NSE:HAL) has a Cyclically Adjusted PS Ratio of 10.62 as of Jul. 28, 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 Hindustan Aeronautics and its competitors. This is near median its historical median of 9.89. Over the past decade, Hindustan Aeronautics' Cyclically Adjusted PS Ratio has ranged from 2.18 to 13.58. According to the industry distribution chart, Hindustan Aeronautics ranks #186 out of 224 companies in the Aerospace & Defense industry, placing it in the top 83%.
Is Hindustan Aeronautics' Cyclically Adjusted PS Ratio too high?
Hindustan Aeronautics' current Cyclically Adjusted PS Ratio of 10.62 is near median its 10-year median of 9.89. Over the past 10 years, this metric has ranged from a low of 2.18 to a high of 13.58. The Aerospace & Defense industry median Cyclically Adjusted PS Ratio is 3.00. Hindustan Aeronautics' value of 10.62 is 254% above this industry median. Based on the distribution chart, Hindustan Aeronautics ranks #186 out of 224 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Hindustan Aeronautics has a GF Score™ of 93/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hindustan Aeronautics' Cyclically Adjusted PS Ratio compare to SPCX and GE?
According to the Aerospace & Defense industry distribution chart, Hindustan Aeronautics ranks #186 out of 224 companies for Cyclically Adjusted PS Ratio. This places Hindustan Aeronautics in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.00. Hindustan Aeronautics' value of 10.62 is 254% above this benchmark. Historically, Hindustan Aeronautics' own Cyclically Adjusted PS Ratio has ranged from 2.18 to 13.58 over the past decade. While the company's 10-year median is 9.89 vs. the industry median of 3.00, Hindustan Aeronautics 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 3.00, 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. Hindustan Aeronautics's current Cyclically Adjusted PS Ratio of 10.62 is 254% 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 Hindustan Aeronautics and its competitors. For the Aerospace & Defense industry, the median Cyclically Adjusted PS Ratio is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hindustan Aeronautics's current Cyclically Adjusted PS Ratio is 10.62, which is near median its own 10-year median of 9.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hindustan Aeronautics stock overvalued right now?
Based on GuruFocus' analysis, Hindustan Aeronautics (NSE:HAL) is currently considered Fairly Valued. The stock's GF Value™ is ₹4,751.26, compared to a current price of ₹4,619.00 — trading 2.8% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 10.62, which is near median its 10-year median of 9.89 and 254% above the Aerospace & Defense industry median of 3.00. Hindustan Aeronautics' overall GF Score™ is 93/100 with 4 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 Hindustan Aeronautics (NSE:HAL), the current Cyclically Adjusted PS Ratio is 10.62 as of Jul. 28, 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 Hindustan Aeronautics (NSE:HAL) Overvalued in 2026?
Based on GuruFocus' analysis, Hindustan Aeronautics stock appears to be undervalued.
The current stock price of ₹4,619.00 is trading 2.8% below its estimated GF Value™ of ₹4,751.26.
GuruFocus considers Hindustan Aeronautics to be Fairly Valued.
Key valuation signals for NSE:HAL:
Cyclically Adjusted PS Ratio: 10.62 (near median its 10-year median of 9.89)
GF Value™: ₹4,751.26 vs. price of ₹4,619.00 (2.8% below fair value)
Industry Position: 254% above the Aerospace & Defense median (#186 of 224)
No single metric tells the full story. See the NSE:HAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hindustan Aeronautics Ltd operates in the aerospace and defense sector. The company is engaged in the design, manufacturing, and development of products like aircraft, helicopters, systems and accessories, power plants, avionics, materials like castings, rolled rings, rubber products, and aerospace which include structures, tanks, and cryogenic engines. Geographically the company derives revenue from India and other countries, of which a majority of revenue is generated from India.
93GF Score
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