Natco Pharma (NSE:NATCOPHARM) Cyclically Adjusted PS Ratio: (As of Aug. 18, 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:NATCOPHARM Natco Pharma Ltd NSE:NATCOPHARM
92 GF Score
Price ₹889.80
GF Value ₹825.82
Valuation Fairly Valued
! 2 Warning Signs
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What is Natco Pharma Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Natco Pharma  (NSE:NATCOPHARM) 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.


Natco Pharma Cyclically Adjusted PS Ratio Related Terms


Natco Pharma Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Natco Pharma'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.

Natco Pharma Cyclically Adjusted PS Ratio Chart

Natco Pharma 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 7.09 4.67 6.78 4.95 5.41

Natco Pharma 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 5.50 4.50 5.05 5.41 0.00

NSE:NATCOPHARM vs ZTS: Cyclically Adjusted PS Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Natco Pharma'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.


Natco Pharma Cyclically Adjusted PS Ratio vs Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Natco Pharma's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


NSE:NATCOPHARM
92GF Score
Natco Pharma Ltd NSE:NATCOPHARM
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Natco Pharma 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.

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

For example, Natco Pharma'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)
=41.05/167.3573*167.3573
=41.050

Current CPI (Jun. 2026) = 167.3573.

Natco Pharma Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 26.164 105.961 41.324
201612 38.319 105.196 60.962
201703 32.246 105.196 51.300
201706 25.413 107.109 39.708
201709 24.253 109.021 37.230
201712 31.664 109.404 48.437
201803 41.501 109.786 63.264
201806 29.125 111.317 43.788
201809 29.364 115.142 42.680
201812 30.271 115.142 43.999
201903 23.147 118.202 32.773
201906 26.987 120.880 37.363
201909 26.652 123.175 36.212
201912 26.440 126.235 35.053
202003 23.394 124.705 31.395
202006 30.877 127.000 40.689
202009 43.954 130.118 56.534
202012 19.431 130.889 24.845
202103 -1.673 131.771 -2.125
202106 22.484 134.084 28.063
202109 20.685 135.847 25.483
202112 30.674 138.161 37.156
202203 30.542 138.822 36.820
202206 48.454 142.347 56.967
202209 23.659 144.661 27.371
202212 26.957 145.763 30.951
202303 48.598 146.865 55.379
202306 63.117 150.280 70.289
202309 57.580 151.492 63.610
202312 42.370 152.924 46.369
202403 58.538 153.035 64.017
202406 76.069 155.789 81.718
202409 76.541 157.882 81.135
202412 26.525 158.323 28.039
202503 68.167 157.552 72.410
202506 74.200 159.755 77.731
202509 76.090 162.289 78.466
202512 36.146 163.281 37.048
202603 41.273 164.272 42.048
202606 41.050 167.357 41.050

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 Natco Pharma (NSE:NATCOPHARM) Overvalued in 2026?

Based on GuruFocus' analysis, Natco Pharma stock appears to be overvalued. The current stock price of ₹889.80 is trading 7.7% above its estimated GF Value™ of ₹825.82. GuruFocus considers Natco Pharma to be Fairly Valued.

Key valuation signals for NSE:NATCOPHARM:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ₹825.82 vs. price of ₹889.80 (7.7% above fair value)
  • GF Score™: 92/100 with 2 warning signs

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


Natco Pharma Business Description

Other Exchanges 524816:India
Address Road No. 2, NATCO House, Banjara Hills, Hyderabad, TG, IND, 500034
Natco Pharma Ltd is a drug manufacturing company. Natco aims to make specialty medicines accessible to all by manufacturing niche pharmaceutical products backed by its research and development capabilities. While the vast majority of the company's revenue is generated in India, the company looks internationally for growth opportunities. The company maintains a presence in Oncology and Hepatology treatment areas. Natco's active pharmaceutical ingredient segment APIs forms a core part of the company's business. The company operates in two different business segments: pharmaceuticals and agrochemicals. It derives maximum revenue from Pharmaceuticals Segment.
92GF Score

Get the complete analysis for NSE:NATCOPHARM

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

₹889.80
Price
₹825.82
GF Value