Mphasis (NSE:MPHASIS) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:MPHASIS Mphasis Ltd NSE:MPHASIS
95 GF Score
Price ₹2,296.20
GF Value ₹3,146.88
Valuation Modestly Undervalued
! 1 Warning Sign
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What is Mphasis Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Mphasis  (NSE:MPHASIS) 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.


Mphasis Cyclically Adjusted PS Ratio Related Terms


Mphasis Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Mphasis'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.

Mphasis Cyclically Adjusted PS Ratio Chart

Mphasis 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 - 3.47 4.27 4.13 3.07

Mphasis 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 4.53 4.10 4.22 3.04 3.09

NSE:MPHASIS vs IBM, ACN, CTSH: Cyclically Adjusted PS Ratio Comparison

For the Information Technology Services subindustry, Mphasis'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.


Mphasis Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, Mphasis's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NSE:MPHASIS
95GF Score
Mphasis Ltd NSE:MPHASIS
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Mphasis 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.

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

For example, Mphasis'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)
=229.365/167.3573*167.3573
=229.365

Current CPI (Jun. 2026) = 167.3573.

Mphasis Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 72.058 105.961 113.810
201612 72.913 105.196 115.998
201703 71.501 105.196 113.752
201706 74.504 107.109 116.412
201709 82.990 109.021 127.397
201712 85.606 109.404 130.953
201803 89.694 109.786 136.729
201806 93.253 111.317 140.200
201809 97.889 115.142 142.280
201812 101.081 115.142 146.920
201903 107.812 118.202 152.646
201906 109.771 120.880 151.977
201909 114.813 123.175 155.996
201912 121.240 126.235 160.735
202003 125.002 124.705 167.756
202006 122.015 127.000 160.788
202009 129.167 130.118 166.134
202012 130.902 130.889 167.374
202103 133.249 131.771 169.235
202106 141.875 134.084 177.081
202109 150.916 135.847 185.922
202112 164.623 138.161 199.412
202203 172.299 138.822 207.716
202206 179.696 142.347 211.268
202209 185.889 144.661 215.054
202212 185.230 145.763 212.671
202303 177.388 146.865 202.140
202306 171.858 150.280 191.387
202309 172.373 151.492 190.425
202312 175.474 152.924 192.035
202403 179.185 153.035 195.955
202406 179.792 155.789 193.143
202409 185.272 157.882 196.391
202412 186.555 158.323 197.200
202503 194.521 157.552 206.627
202506 195.538 159.755 204.843
202509 204.132 162.289 210.507
202512 209.369 163.281 214.596
202603 222.107 164.272 226.278
202606 229.365 167.357 229.365

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 Mphasis (NSE:MPHASIS) Overvalued in 2026?

Based on GuruFocus' analysis, Mphasis stock appears to be undervalued. The current stock price of ₹2,296.20 is trading 27% below its estimated GF Value™ of ₹3,146.88. GuruFocus considers Mphasis to be Modestly Undervalued.

Key valuation signals for NSE:MPHASIS:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹3,146.88 vs. price of ₹2,296.20 (27% below fair value)
  • GF Score™: 95/100 with 1 warning sign

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


Mphasis Business Description

Other Exchanges 526299:India
Address Marathalli Outer Ring Road, Bagmane World Technology Center, Doddanakhundi Village, Mahadevapura, Bengaluru, KA, IND, 560 048
Mphasis Ltd is an IT solutions provider which offers application development and integration, business process outsourcing, and infrastructure services such as architecture guidance. The company was formed after the merger of the U.S.-based IT consulting company Mphasis and the Indian IT services company BFL Software. Mphasis serves clients in the financial services, healthcare, telecom, retail, logistics, and technology industries. Mphasis operates in India, Americas, EMEA, and Rest of the world. The company operates through its business segments: banking and financial services, insurance, technology media and telecom, logistics and transportation, and others. It derives maximum revenue from banking and financial services.
95GF Score

Get the complete analysis for NSE:MPHASIS

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

₹2,296.20
Price
₹3,146.88
GF Value