AF Gruppen ASA (OSTO:AFGO) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

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.
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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.

OSTO:AFGO AF Gruppen ASA OSTO:AFGO
77 GF Score
Price kr191.20
GF Value kr160.34
Valuation Modestly Overvalued
! 4 Warning Signs
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What is AF Gruppen ASA Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


AF Gruppen ASA  (OSTO:AFGO) 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.


AF Gruppen ASA Cyclically Adjusted PS Ratio Related Terms


AF Gruppen ASA Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for AF Gruppen ASA'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.

AF Gruppen ASA Cyclically Adjusted PS Ratio Chart

AF Gruppen ASA 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 1.03 0.67 0.51 0.57 0.69

AF Gruppen ASA 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 0.57 0.63 0.68 0.63 0.69

OSTO:AFGO vs PWR, FIX, EME: Cyclically Adjusted PS Ratio Comparison

For the Engineering & Construction subindustry, AF Gruppen ASA'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.


AF Gruppen ASA Cyclically Adjusted PS Ratio vs Construction Industry

For the Construction industry and Industrials sector, AF Gruppen ASA's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


OSTO:AFGO
77GF Score
AF Gruppen ASA OSTO:AFGO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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AF Gruppen ASA 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.

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

For example, AF Gruppen ASA'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)
=79.651/141.6200*141.6200
=79.651

Current CPI (Jun. 2026) = 141.6200.

AF Gruppen ASA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 32.624 104.200 44.340
201612 30.559 104.400 41.454
201703 28.205 105.000 38.042
201706 34.450 105.800 46.114
201709 34.990 105.900 46.792
201712 43.919 106.100 58.622
201803 39.696 107.300 52.393
201806 47.966 108.500 62.608
201809 46.371 109.500 59.973
201812 57.592 109.800 74.282
201903 52.512 110.400 67.362
201906 58.630 110.600 75.074
201909 50.035 111.100 63.780
201912 56.994 111.300 72.520
202003 64.497 111.200 82.141
202006 63.247 112.100 79.902
202009 60.870 112.900 76.354
202012 70.704 112.900 88.690
202103 58.602 114.600 72.419
202106 67.852 115.300 83.341
202109 60.029 117.500 72.352
202112 75.804 118.900 90.289
202203 63.520 119.800 75.089
202206 77.712 122.600 89.768
202209 70.636 125.600 79.645
202212 79.930 125.900 89.910
202303 68.673 127.600 76.218
202306 72.946 130.400 79.222
202309 64.210 129.800 70.057
202312 77.194 131.900 82.883
202403 66.252 132.600 70.759
202406 70.529 133.800 74.651
202409 66.466 133.700 70.403
202412 78.644 134.800 82.623
202503 65.266 136.100 67.913
202506 71.483 137.800 73.465
202509 71.074 138.500 72.675
202512 83.771 139.140 85.264
202603 72.313 141.060 72.600
202606 79.651 141.620 79.651

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 AF Gruppen ASA (OSTO:AFGO) Overvalued in 2026?

Based on GuruFocus' analysis, AF Gruppen ASA stock appears to be overvalued. The current stock price of kr191.20 is trading 19.2% above its estimated GF Value™ of kr160.34. GuruFocus considers AF Gruppen ASA to be Modestly Overvalued.

Key valuation signals for OSTO:AFGO:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: kr160.34 vs. price of kr191.20 (19.2% above fair value)
  • GF Score™: 77/100 with 4 warning signs

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


AF Gruppen ASA Business Description

Address Innspurten 15, P.O. box 6272, Oslo, NOR, 0603
AF Gruppen ASA A is one of Norway's contracting and industrial groups. The company provides services in areas of civil engineering and services geared toward environmental, building, and energy markets. The company conducts projects related to roads, railways, ports, power, and energy development. For buildings and property development, its services span the entire value chain, and resources are utilized for planning and execution. The majority of revenue comes from traditional building activities, including new projects and rehabilitation ventures. Environmental services revolve around demolition, removal, and environmental clean-up of buildings and industrial plants.
77GF Score

Get the complete analysis for OSTO:AFGO

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

kr191.20
Price
kr160.34
GF Value