Indian Overseas Bank (NSE:IOB) Cyclically Adjusted PS Ratio: (As of Jul. 20, 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.
Reviewed by: Charlie Tian Charlie Tian
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:IOB Indian Overseas Bank NSE:IOB
63 GF Score
Price ₹35.00
GF Value ₹48.45
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Indian Overseas Bank Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Indian Overseas Bank  (NSE:IOB) 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.


Indian Overseas Bank Cyclically Adjusted PS Ratio Related Terms


Indian Overseas Bank Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Indian Overseas Bank'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.

Indian Overseas Bank Cyclically Adjusted PS Ratio Chart

Indian Overseas Bank 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 0.32 0.50 1.75 1.49 1.64

Indian Overseas Bank 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 1.61 1.79 1.75 1.64 0.00

Indian Overseas Bank Cyclically Adjusted PS Ratio Competitor Comparison

For the Banks - Regional subindustry, Indian Overseas Bank'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.


Indian Overseas Bank Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Indian Overseas Bank's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Indian Overseas Bank's Cyclically Adjusted PS Ratio falls into.


NSE:IOB
63GF Score
Indian Overseas Bank NSE:IOB
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Indian Overseas Bank 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.

Indian Overseas Bank's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Indian Overseas Bank'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)
=3.032/166.1454*166.1454
=3.032

Current CPI (Jun. 2026) = 166.1454.

Indian Overseas Bank Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 11.850 105.961 18.581
201612 8.367 105.196 13.215
201703 9.582 105.196 15.134
201706 8.183 107.109 12.693
201709 9.594 109.021 14.621
201712 6.992 109.404 10.618
201803 5.561 109.786 8.416
201806 4.675 111.317 6.978
201809 4.665 115.142 6.731
201812 4.039 115.142 5.828
201903 1.778 118.202 2.499
201906 2.118 120.880 2.911
201909 2.140 123.175 2.887
201912 2.039 126.235 2.684
202003 1.525 124.705 2.032
202006 1.360 127.000 1.779
202009 1.597 130.118 2.039
202012 1.871 130.889 2.375
202103 2.039 131.771 2.571
202106 1.506 134.084 1.866
202109 1.307 135.847 1.599
202112 1.425 138.161 1.714
202203 1.596 138.822 1.910
202206 1.243 142.347 1.451
202209 1.635 144.661 1.878
202212 1.706 145.763 1.945
202303 1.964 146.865 2.222
202306 1.657 150.280 1.832
202309 1.833 151.492 2.010
202312 1.938 152.924 2.106
202403 2.774 153.035 3.012
202406 1.822 155.789 1.943
202409 2.195 157.882 2.310
202412 2.150 158.323 2.256
202503 2.499 157.552 2.635
202506 2.189 159.755 2.277
202509 2.286 162.289 2.340
202512 2.387 163.281 2.429
202603 2.478 164.272 2.506
202606 3.032 166.145 3.032

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 Indian Overseas Bank (NSE:IOB) Overvalued in 2026?

Based on GuruFocus' analysis, Indian Overseas Bank stock appears to be undervalued. The current stock price of ₹35.00 is trading 27.8% below its estimated GF Value™ of ₹48.45. GuruFocus considers Indian Overseas Bank to be Modestly Undervalued.

Key valuation signals for NSE:IOB:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹48.45 vs. price of ₹35.00 (27.8% below fair value)
  • GF Score™: 63/100 with 2 warning signs

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


Indian Overseas Bank Business Description

Other Exchanges 532388:India
Address No. 763, Anna Salai, Central Office, Chennai, TN, IND, 600 002
Indian Overseas Bank is engaged in the banking sector. The bank is based in India and has branches in several Asian countries. The bank's business segments are Treasury Segment includes the entire investment portfolio and trading in foreign exchange contracts and derivative contracts; Corporate/Wholesale Banking segment comprises the lending activities of borrowers having exposure of seven Crores and above; Retail Banking include exposures which fulfil the four criteria of orientation, product, granularity, and low value of individual exposures for retail exposures; Digital Banking Segment as a sub-segment of Retail Banking Segment; and Other Banking Operations Segments which are not covered above. Majority of income comes from Retail Banking. It generates majority of income from Domestic.
63GF Score

Get the complete analysis for NSE:IOB

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

₹35.00
Price
₹48.45
GF Value