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ICRANSE:ICRA +1.04%86 Cyclically Adjusted PS Ratio is 10.51 as of Aug. 07, 2026, which is 2% below its 10-year median of 10.75. GuruFocus rates NSE:ICRA with a GF Score™ of 86/100 and a GF Value™ of ₹8,247.57 (Possible Value Trap). The stock has 1 warning sign investors should review. Among 604 Capital Markets companies, ICRA ranks worse than 82.12% on this metric.
As of today (2026-08-07), ICRA's current share price is ₹5175.40. ICRA's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was ₹492.60. ICRA's Cyclically Adjusted PS Ratio for today is 10.51.
The historical rank and industry rank for ICRA's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:ICRA'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 5.46 Med: 10.75 Max: 15.85
Current: 10.48
During the past years, ICRA's highest Cyclically Adjusted PS Ratio was 15.85. The lowest was 5.46. And the median was 10.75.
NSE:ICRA's Cyclically Adjusted PS Ratio is ranked worse than 82.12% of 604
companies
in the Capital Markets industry
Industry Median: 3.38
vs NSE:ICRA: 10.48
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.
ICRA's adjusted revenue per share data for the three months ended in Jun. 2026 was ₹169.502. 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 ₹492.60 for the trailing ten years ended in Jun. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
ICRA (NSE:ICRA) 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.
ICRA Cyclically Adjusted PS Ratio Related Terms
ICRA Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for ICRA'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.
NSE:ICRA vs SPGI, CME, ICE: Cyclically Adjusted PS Ratio Comparison
For the Financial Data & Stock Exchanges subindustry, ICRA'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.
ICRA Cyclically Adjusted PS Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ICRA's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where ICRA's Cyclically Adjusted PS Ratio falls into.
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.
ICRA'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 10.51 mean?
ICRA (NSE:ICRA) has a Cyclically Adjusted PS Ratio of 10.51 as of Aug. 07, 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 ICRA and its competitors. This is near median its historical median of 10.75. Over the past decade, ICRA's Cyclically Adjusted PS Ratio has ranged from 5.46 to 15.85. According to the industry distribution chart, ICRA ranks #496 out of 604 companies in the Capital Markets industry, placing it in the top 82.1%.
Is ICRA's Cyclically Adjusted PS Ratio too high?
ICRA's current Cyclically Adjusted PS Ratio of 10.51 is near median its 10-year median of 10.75. Over the past 10 years, this metric has ranged from a low of 5.46 to a high of 15.85. The Capital Markets industry median Cyclically Adjusted PS Ratio is 3.38. ICRA's value of 10.51 is 210.9% above this industry median. Based on the distribution chart, ICRA ranks #496 out of 604 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, ICRA has a GF Score™ of 86/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ICRA's Cyclically Adjusted PS Ratio compare to SPGI and CME?
According to the Capital Markets industry distribution chart, ICRA ranks #496 out of 604 companies for Cyclically Adjusted PS Ratio. This places ICRA in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.38. ICRA's value of 10.51 is 210.9% above this benchmark. Historically, ICRA's own Cyclically Adjusted PS Ratio has ranged from 5.46 to 15.85 over the past decade. While the company's 10-year median is 10.75 vs. the industry median of 3.38, ICRA 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 3.38, based on 604 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. ICRA's current Cyclically Adjusted PS Ratio of 10.51 is 210.9% 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 ICRA and its competitors. For the Capital Markets industry, the median Cyclically Adjusted PS Ratio is 3.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ICRA's current Cyclically Adjusted PS Ratio is 10.51, which is near median its own 10-year median of 10.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ICRA stock overvalued right now?
Based on GuruFocus' analysis, ICRA (NSE:ICRA) is currently considered Possible Value Trap. The stock's GF Value™ is ₹8,247.57, compared to a current price of ₹5,175.40 — trading 37.2% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 10.51, which is near median its 10-year median of 10.75 and 210.9% above the Capital Markets industry median of 3.38. ICRA's overall GF Score™ is 86/100 with 1 warning sign 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 ICRA (NSE:ICRA), the current Cyclically Adjusted PS Ratio is 10.51 as of Aug. 07, 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 ICRA (NSE:ICRA) Overvalued in 2026?
Based on GuruFocus' analysis, ICRA stock appears to be undervalued.
The current stock price of ₹5,175.40 is trading 37.2% below its estimated GF Value™ of ₹8,247.57.
GuruFocus considers ICRA to be Possible Value Trap.
Key valuation signals for NSE:ICRA:
Cyclically Adjusted PS Ratio: 10.51 (near median its 10-year median of 10.75)
GF Value™: ₹8,247.57 vs. price of ₹5,175.40 (37.2% below fair value)
Industry Position: 210.9% above the Capital Markets median (#496 of 604)
No single metric tells the full story. See the NSE:ICRA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ICRA Ltd is an independent and professional Investment Information and credit rating agency. The company operates through four segments: Rating, research, and other services; Consulting services; Knowledge and Market Services. The company generates over half of its revenue from the Rating, research and other services segment. Rating, research, and other services segment provides rating, grading, and industry research services. The consulting services segment provides management consulting which includes risk management, financial advisory, outsourcing, and policy advisory. The knowledge Services segment provides KPO services and the Market services segment provides financial information products and services. Geographically the majority of revenue is generated from within India.
86GF Score
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