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Mahanagar Telephone NigamNSE:MTNL -0.51%52 Cyclically Adjusted PS Ratio is 0.97 as of Aug. 12, 2026, which is 246% above its 10-year median of 0.28. GuruFocus rates NSE:MTNL with a GF Score™ of 52/100 and a GF Value™ of ₹45.11 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 304 Telecommunication Services companies, Mahanagar Telephone Nigam ranks better than 57.57% on this metric.
The historical rank and industry rank for Mahanagar Telephone Nigam's Cyclically Adjusted PS Ratio or its related term are showing as below:
NSE:MTNL'
s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.03 Med: 0.28 Max: 1.99
Current: 0.98
During the past years, Mahanagar Telephone Nigam's highest Cyclically Adjusted PS Ratio was 1.99. The lowest was 0.03. And the median was 0.28.
NSE:MTNL's Cyclically Adjusted PS Ratio is ranked better than 57.57% of 304
companies
in the Telecommunication Services industry
Industry Median: 1.17
vs NSE:MTNL: 0.98
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.
Mahanagar Telephone Nigam's adjusted revenue per share data for the three months ended in Mar. 2026 was ₹5.878. 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 ₹28.31 for the trailing ten years ended in Mar. 2026.
Shiller PE for Stocks: The True Measure of Stock Valuation
Mahanagar Telephone Nigam (NSE:MTNL) 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.
Mahanagar Telephone Nigam Cyclically Adjusted PS Ratio Related Terms
Mahanagar Telephone Nigam Cyclically Adjusted PS Ratio Historical Data
* Premium members only.
The historical data trend for Mahanagar Telephone Nigam'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.
Mahanagar Telephone Nigam Cyclically Adjusted PS Ratio Chart
NSE:MTNL vs VZ, TMUS, T: Cyclically Adjusted PS Ratio Comparison
For the Telecom Services subindustry, Mahanagar Telephone Nigam'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.
Mahanagar Telephone Nigam Cyclically Adjusted PS Ratio vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Mahanagar Telephone Nigam's Cyclically Adjusted PS Ratio distribution charts can be found below:
* The bar in red indicates where Mahanagar Telephone Nigam's Cyclically Adjusted PS Ratio falls into.
Mahanagar Telephone Nigam 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 0.97 mean?
Mahanagar Telephone Nigam (NSE:MTNL) has a Cyclically Adjusted PS Ratio of 0.97 as of Aug. 12, 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 Mahanagar Telephone Nigam and its competitors. This is 246% above median its historical median of 0.28. Over the past decade, Mahanagar Telephone Nigam's Cyclically Adjusted PS Ratio has ranged from 0.03 to 1.99. According to the industry distribution chart, Mahanagar Telephone Nigam ranks #129 out of 304 companies in the Telecommunication Services industry, placing it in the top 42.4%.
Is Mahanagar Telephone Nigam's Cyclically Adjusted PS Ratio too high?
Mahanagar Telephone Nigam's current Cyclically Adjusted PS Ratio of 0.97 is 246% above median its 10-year median of 0.28. Over the past 10 years, this metric has ranged from a low of 0.03 to a high of 1.99. The Telecommunication Services industry median Cyclically Adjusted PS Ratio is 1.17. Mahanagar Telephone Nigam's value of 0.97 is 17.1% below this industry median. Based on the distribution chart, Mahanagar Telephone Nigam ranks #129 out of 304 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Mahanagar Telephone Nigam has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Mahanagar Telephone Nigam's Cyclically Adjusted PS Ratio compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Mahanagar Telephone Nigam ranks #129 out of 304 companies for Cyclically Adjusted PS Ratio. This puts Mahanagar Telephone Nigam in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.17. Mahanagar Telephone Nigam's value of 0.97 is 17.1% below this benchmark. Historically, Mahanagar Telephone Nigam's own Cyclically Adjusted PS Ratio has ranged from 0.03 to 1.99 over the past decade. While the company's 10-year median is 0.28 vs. the industry median of 1.17, Mahanagar Telephone Nigam has consistently been below 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 Telecommunication Services company?
The median Cyclically Adjusted PS Ratio among Telecommunication Services companies is 1.17, based on 304 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. Mahanagar Telephone Nigam's current Cyclically Adjusted PS Ratio of 0.97 is 17.1% below 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 Mahanagar Telephone Nigam and its competitors. For the Telecommunication Services industry, the median Cyclically Adjusted PS Ratio is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahanagar Telephone Nigam's current Cyclically Adjusted PS Ratio is 0.97, which is 246% above median its own 10-year median of 0.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahanagar Telephone Nigam stock overvalued right now?
Based on GuruFocus' analysis, Mahanagar Telephone Nigam (NSE:MTNL) is currently considered Possible Value Trap. The stock's GF Value™ is ₹45.11, compared to a current price of ₹27.37 — trading 39.3% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.97, which is 246% above median its 10-year median of 0.28 and 17.1% below the Telecommunication Services industry median of 1.17. Mahanagar Telephone Nigam's overall GF Score™ is 52/100 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 Mahanagar Telephone Nigam (NSE:MTNL), the current Cyclically Adjusted PS Ratio is 0.97 as of Aug. 12, 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 Mahanagar Telephone Nigam (NSE:MTNL) Overvalued in 2026?
Based on GuruFocus' analysis, Mahanagar Telephone Nigam stock appears to be undervalued.
The current stock price of ₹27.37 is trading 39.3% below its estimated GF Value™ of ₹45.11.
GuruFocus considers Mahanagar Telephone Nigam to be Possible Value Trap.
Key valuation signals for NSE:MTNL:
Cyclically Adjusted PS Ratio: 0.97 (246% above median its 10-year median of 0.28)
GF Value™: ₹45.11 vs. price of ₹27.37 (39.3% below fair value)
Industry Position: 17.1% below the Telecommunication Services median (#129 of 304)
No single metric tells the full story. See the NSE:MTNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mahanagar Telephone Nigam Ltd is an India-based company that provides telecommunications services. The company's operating segment includes the Basic and Cellular segments. It generates maximum revenue from the Basic segment. The company offers various telecom services, including fixed telephone service, GSM (including 3G services), Internet, Broadband, ISDN, and Leased Line services.
52GF Score
Get the complete analysis for NSE:MTNL
Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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