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Multi Commodity Exchange of IndiaNSE:MCX +0.57%96 Cyclically Adjusted PS Ratio is 95.33 as of Jul. 31, 2026, which is 49% above its 10-year median of 63.83. GuruFocus rates NSE:MCX with a GF Score™ of 96/100 and a GF Value™ of ₹3,390.65 (Modestly Undervalued). Among 606 Capital Markets companies, Multi Commodity Exchange of India ranks worse than 98.51% on this metric.
The historical rank and industry rank for Multi Commodity Exchange of India's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:MCX'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 24.71 Med: 63.83 Max: 120.08
Current: 96.66
During the past years, Multi Commodity Exchange of India's highest Cyclically Adjusted PS Ratio was 120.08. The lowest was 24.71. And the median was 63.83.
NSE:MCX's Cyclically Adjusted PS Ratio is ranked worse than 98.51% of 606
companies
in the Capital Markets industry
Industry Median: 3.33
vs NSE:MCX: 96.66
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.
Multi Commodity Exchange of India's adjusted revenue per share data for the three months ended in Mar. 2026 was ₹34.868. 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 ₹28.24 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Multi Commodity Exchange of India (NSE:MCX) 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.
Multi Commodity Exchange of India Cyclically Adjusted PS Ratio Related Terms
Multi Commodity Exchange of 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.
Multi Commodity Exchange of India Cyclically Adjusted PS Ratio Chart
NSE:MCX vs SPGI, CME, ICE: Cyclically Adjusted PS Ratio Comparison
For the Financial Data & Stock Exchanges subindustry, Multi Commodity Exchange of 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.
Multi Commodity Exchange of India Cyclically Adjusted PS Ratio vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Multi Commodity Exchange of India's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Multi Commodity Exchange of India's Cyclically Adjusted PS Ratio falls into.
Multi Commodity Exchange of 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 95.33 mean?
Multi Commodity Exchange of India (NSE:MCX) has a Cyclically Adjusted PS Ratio of 95.33 as of Jul. 31, 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 Multi Commodity Exchange of India and its competitors. This is 49% above median its historical median of 63.83. Over the past decade, Multi Commodity Exchange of India's Cyclically Adjusted PS Ratio has ranged from 24.71 to 120.08. According to the industry distribution chart, Multi Commodity Exchange of India ranks #597 out of 606 companies in the Capital Markets industry, placing it in the top 98.5%.
Is Multi Commodity Exchange of India's Cyclically Adjusted PS Ratio too high?
Multi Commodity Exchange of India's current Cyclically Adjusted PS Ratio of 95.33 is 49% above median its 10-year median of 63.83. Over the past 10 years, this metric has ranged from a low of 24.71 to a high of 120.08. The Capital Markets industry median Cyclically Adjusted PS Ratio is 3.33. Multi Commodity Exchange of India's value of 95.33 is 2762.8% above this industry median. Based on the distribution chart, Multi Commodity Exchange of India ranks #597 out of 606 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Multi Commodity Exchange of India has a GF Score™ of 96/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Multi Commodity Exchange of India's Cyclically Adjusted PS Ratio compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Multi Commodity Exchange of India ranks #597 out of 606 companies for Cyclically Adjusted PS Ratio. This places Multi Commodity Exchange of India in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.33. Multi Commodity Exchange of India's value of 95.33 is 2762.8% above this benchmark. Historically, Multi Commodity Exchange of India's own Cyclically Adjusted PS Ratio has ranged from 24.71 to 120.08 over the past decade. While the company's 10-year median is 63.83 vs. the industry median of 3.33, Multi Commodity Exchange of 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 3.33, based on 606 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. Multi Commodity Exchange of India's current Cyclically Adjusted PS Ratio of 95.33 is 2762.8% 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 Multi Commodity Exchange of India and its competitors. For the Capital Markets industry, the median Cyclically Adjusted PS Ratio is 3.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Multi Commodity Exchange of India's current Cyclically Adjusted PS Ratio is 95.33, which is 49% above median its own 10-year median of 63.83. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Multi Commodity Exchange of India stock overvalued right now?
Based on GuruFocus' analysis, Multi Commodity Exchange of India (NSE:MCX) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹3,390.65, compared to a current price of ₹2,692.20 — trading 20.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 95.33, which is 49% above median its 10-year median of 63.83 and 2762.8% above the Capital Markets industry median of 3.33. Multi Commodity Exchange of India's overall GF Score™ is 96/100. 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 Multi Commodity Exchange of India (NSE:MCX), the current Cyclically Adjusted PS Ratio is 95.33 as of Jul. 31, 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 Multi Commodity Exchange of India (NSE:MCX) Overvalued in 2026?
Based on GuruFocus' analysis, Multi Commodity Exchange of India stock appears to be undervalued.
The current stock price of ₹2,692.20 is trading 20.6% below its estimated GF Value™ of ₹3,390.65.
GuruFocus considers Multi Commodity Exchange of India to be Modestly Undervalued.
Key valuation signals for NSE:MCX:
Cyclically Adjusted PS Ratio: 95.33 (49% above median its 10-year median of 63.83)
GF Value™: ₹3,390.65 vs. price of ₹2,692.20 (20.6% below fair value)
Industry Position: 2762.8% above the Capital Markets median (#597 of 606)
No single metric tells the full story. See the NSE:MCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Multi Commodity Exchange of India Ltd is an India-based deemed Stock Exchange recognized under the Securities Contracts (Regulation) Act, 1956. The company facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management. The company is a demutualized Exchange and has permanent recognition from the Government of India to facilitate nationwide online trading, clearing, and settlement operations of commodity derivatives. The company derives its revenues from transaction fees, admission fees, annual subscription fees, terminal charges, connectivity income, interest income, dividends from and gains on the sale of investments and other miscellaneous income.
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