CMB.Tech NV (OSL:CMBTO) Cyclically Adjusted PS Ratio: 2.89 (As of Jul. 14, 2026) — 31% Above Median

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.

OSL:CMBTO CMB.Tech NV OSL:CMBTO
67 GF Score
Price kr151.00
GF Value kr180.38
Valuation Modestly Undervalued
! 9 Warning Signs
View Full Analysis

What is CMB.Tech NV Cyclically Adjusted PS Ratio?

CMB.Tech NV OSL:CMBTO +1.48% 67 Cyclically Adjusted PS Ratio is 2.89 as of Jul. 14, 2026, which is 31% above its 10-year median of 2.20. GuruFocus rates OSL:CMBTO with a GF Score™ of 67/100 and a GF Value™ of kr180.38 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 706 Oil & Gas companies, CMB.Tech NV ranks worse than 77.9% on this metric.

As of today (2026-07-14), CMB.Tech NV's current share price is kr151.00. CMB.Tech NV's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was kr52.28. CMB.Tech NV's Cyclically Adjusted PS Ratio for today is 2.89.

The historical rank and industry rank for CMB.Tech NV's Cyclically Adjusted PS Ratio or its related term are showing as below:

OSL:CMBTO' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.46   Med: 2.2   Max: 4.77
Current: 2.93

During the past years, CMB.Tech NV's highest Cyclically Adjusted PS Ratio was 4.77. The lowest was 1.46. And the median was 2.20.

OSL:CMBTO's Cyclically Adjusted PS Ratio is ranked worse than
77.9% of 706 companies
in the Oil & Gas industry
Industry Median: 1.02 vs OSL:CMBTO: 2.93

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.

CMB.Tech NV's adjusted revenue per share data for the three months ended in Mar. 2026 was kr17.296. 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 kr52.28 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


CMB.Tech NV  (OSL:CMBTO) 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.


CMB.Tech NV Cyclically Adjusted PS Ratio Related Terms


CMB.Tech NV Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for CMB.Tech NV'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.

CMB.Tech NV Cyclically Adjusted PS Ratio Chart

CMB.Tech NV Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.90 3.61 3.61 2.13 1.74

CMB.Tech NV Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.80 1.68 1.77 1.74 2.35

OSL:CMBTO vs WMB, EPD, KMI: Cyclically Adjusted PS Ratio Comparison

For the Oil & Gas Midstream subindustry, CMB.Tech NV'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.


CMB.Tech NV Cyclically Adjusted PS Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, CMB.Tech NV's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


OSL:CMBTO
67GF Score
CMB.Tech NV OSL:CMBTO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CMB.Tech NV 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.

CMB.Tech NV's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=151.00/52.28
=2.89

* 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.

CMB.Tech NV's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, CMB.Tech NV's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=17.296/135.0710*135.0710
=17.296

Current CPI (Mar. 2026) = 135.0710.

CMB.Tech NV Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 9.933 102.267 13.119
201609 6.913 102.118 9.144
201612 7.915 102.614 10.419
201703 8.819 103.972 11.457
201706 6.758 103.902 8.785
201709 5.190 104.170 6.730
201712 6.199 104.804 7.989
201803 4.819 105.419 6.175
201806 4.960 106.063 6.317
201809 6.051 106.618 7.666
201812 9.288 107.252 11.697
201903 9.197 107.876 11.515
201906 6.751 107.896 8.451
201909 7.340 107.470 9.225
201912 14.161 108.065 17.700
202003 19.838 108.550 24.685
202006 19.267 108.540 23.976
202009 10.649 108.441 13.264
202012 5.054 108.511 6.291
202103 4.593 109.522 5.664
202106 4.144 110.305 5.074
202109 4.043 111.543 4.896
202112 5.227 114.705 6.155
202203 5.010 118.620 5.705
202206 7.165 120.948 8.002
202209 11.398 124.120 12.404
202212 18.000 126.578 19.208
202303 17.728 126.528 18.925
202306 18.620 125.973 19.965
202309 14.782 127.083 15.711
202312 14.027 128.292 14.768
202403 12.658 130.552 13.096
202406 13.771 130.691 14.233
202409 12.135 130.968 12.515
202412 13.059 132.346 13.328
202503 12.923 134.348 12.993
202506 20.071 133.495 20.308
202509 18.937 133.743 19.125
202512 20.468 135.071 20.468
202603 17.296 135.071 17.296

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.

What does a Cyclically Adjusted PS Ratio of 2.89 mean?
CMB.Tech NV (OSL:CMBTO) has a Cyclically Adjusted PS Ratio of 2.89 as of Jul. 14, 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 CMB.Tech NV and its competitors. This is 31% above median its historical median of 2.20. Over the past decade, CMB.Tech NV's Cyclically Adjusted PS Ratio has ranged from 1.46 to 4.77. According to the industry distribution chart, CMB.Tech NV ranks #550 out of 706 companies in the Oil & Gas industry, placing it in the top 77.9%.
Is CMB.Tech NV's Cyclically Adjusted PS Ratio too high?
CMB.Tech NV's current Cyclically Adjusted PS Ratio of 2.89 is 31% above median its 10-year median of 2.20. Over the past 10 years, this metric has ranged from a low of 1.46 to a high of 4.77. The Oil & Gas industry median Cyclically Adjusted PS Ratio is 1.02. CMB.Tech NV's value of 2.89 is 183.3% above this industry median. Based on the distribution chart, CMB.Tech NV ranks #550 out of 706 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, CMB.Tech NV has a GF Score™ of 67/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does CMB.Tech NV's Cyclically Adjusted PS Ratio compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, CMB.Tech NV ranks #550 out of 706 companies for Cyclically Adjusted PS Ratio. This places CMB.Tech NV in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.02. CMB.Tech NV's value of 2.89 is 183.3% above this benchmark. Historically, CMB.Tech NV's own Cyclically Adjusted PS Ratio has ranged from 1.46 to 4.77 over the past decade. While the company's 10-year median is 2.20 vs. the industry median of 1.02, CMB.Tech NV 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 an Oil & Gas company?
The median Cyclically Adjusted PS Ratio among Oil & Gas companies is 1.02, based on 706 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. CMB.Tech NV's current Cyclically Adjusted PS Ratio of 2.89 is 183.3% 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 CMB.Tech NV and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PS Ratio is 1.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CMB.Tech NV's current Cyclically Adjusted PS Ratio is 2.89, which is 31% above median its own 10-year median of 2.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CMB.Tech NV stock overvalued right now?
Based on GuruFocus' analysis, CMB.Tech NV (OSL:CMBTO) is currently considered Modestly Undervalued. The stock's GF Value™ is kr180.38, compared to a current price of kr151.00 — trading 16.3% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.89, which is 31% above median its 10-year median of 2.20 and 183.3% above the Oil & Gas industry median of 1.02. CMB.Tech NV's overall GF Score™ is 67/100 with 9 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 CMB.Tech NV (OSL:CMBTO), the current Cyclically Adjusted PS Ratio is 2.89 as of Jul. 14, 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 CMB.Tech NV (OSL:CMBTO) Overvalued in 2026?

Based on GuruFocus' analysis, CMB.Tech NV stock appears to be undervalued. The current stock price of kr151.00 is trading 16.3% below its estimated GF Value™ of kr180.38. GuruFocus considers CMB.Tech NV to be Modestly Undervalued.

Key valuation signals for OSL:CMBTO:

  • Cyclically Adjusted PS Ratio: 2.89 (31% above median its 10-year median of 2.20)
  • GF Value™: kr180.38 vs. price of kr151.00 (16.3% below fair value)
  • GF Score™: 67/100 with 9 warning signs
  • Industry Position: 183.3% above the Oil & Gas median (#550 of 706)

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


CMB.Tech NV Business Description

Industry EnergyOil & Gas
Address De Gerlachekaai 20, Antwerpen, BEL, 2000
CMB.Tech NV owns and operates a fleet of vessels for international maritime shipping and storage of crude oil and petroleum products. It generate a large parts of their revenue from voyage charters, including vessels in pools that predominantly perform voyage charters. The company organizes itself into three divisons: the Marine division, the H2 Infra division and the H2 Industry division. The Marine Division derives maximum revenue which builds, owns, operates and designs a wide range of low and zerocarbon ships and features a fleet with vessels such as Crew Transfer Vessels, ferries, Commissioning Service Operations Vessels, and tugboats, alongside ammonia-powered large bulk carriers, container ships, chemical and crude oil tankers.
67GF Score

Get the complete analysis for OSL:CMBTO

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

kr151.00
Price
kr180.38
GF Value