PhotoCure ASA (OSTO:PHOO) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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:PHOO PhotoCure ASA OSTO:PHOO
80 GF Score
Price kr52.00
GF Value kr75.79
Valuation Significantly Undervalued
! 2 Warning Signs
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What is PhotoCure ASA Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


PhotoCure ASA  (OSTO:PHOO) 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.


PhotoCure ASA Cyclically Adjusted PS Ratio Related Terms


PhotoCure ASA Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for PhotoCure 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.

PhotoCure ASA Cyclically Adjusted PS Ratio Chart

PhotoCure 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 11.16 10.39 4.99 4.73 4.23

PhotoCure 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 3.51 4.06 4.19 3.48 3.48

OSTO:PHOO vs ZTS, UTHR, VTRS: Cyclically Adjusted PS Ratio Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, PhotoCure 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.


PhotoCure ASA Cyclically Adjusted PS Ratio vs Drug Manufacturers Industry

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

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


OSTO:PHOO
80GF Score
PhotoCure ASA OSTO:PHOO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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PhotoCure 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.

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

For example, PhotoCure 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)
=5.293/141.6200*141.6200
=5.293

Current CPI (Jun. 2026) = 141.6200.

PhotoCure ASA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.635 104.200 2.222
201612 1.767 104.400 2.397
201703 1.694 105.000 2.285
201706 1.825 105.800 2.443
201709 1.653 105.900 2.211
201712 1.828 106.100 2.440
201803 1.928 107.300 2.545
201806 2.121 108.500 2.768
201809 2.058 109.500 2.662
201812 2.291 109.800 2.955
201903 2.398 110.400 3.076
201906 2.433 110.600 3.115
201909 2.791 111.100 3.558
201912 5.306 111.300 6.751
202003 2.524 111.200 3.214
202006 2.273 112.100 2.872
202009 1.877 112.900 2.354
202012 3.666 112.900 4.599
202103 3.260 114.600 4.029
202106 3.362 115.300 4.129
202109 3.246 117.500 3.912
202112 3.506 118.900 4.176
202203 3.027 119.800 3.578
202206 3.714 122.600 4.290
202209 3.939 125.600 4.441
202212 3.844 125.900 4.324
202303 3.920 127.600 4.351
202306 5.324 130.400 5.782
202309 3.968 129.800 4.329
202312 5.259 131.900 5.647
202403 4.355 132.600 4.651
202406 5.366 133.800 5.680
202409 4.435 133.700 4.698
202412 5.227 134.800 5.491
202503 4.672 136.100 4.861
202506 5.097 137.800 5.238
202509 5.072 138.500 5.186
202512 5.137 139.140 5.229
202603 9.884 141.060 9.923
202606 5.293 141.620 5.293

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 PhotoCure ASA (OSTO:PHOO) Overvalued in 2026?

Based on GuruFocus' analysis, PhotoCure ASA stock appears to be undervalued. The current stock price of kr52.00 is trading 31.4% below its estimated GF Value™ of kr75.79. GuruFocus considers PhotoCure ASA to be Significantly Undervalued.

Key valuation signals for OSTO:PHOO:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: kr75.79 vs. price of kr52.00 (31.4% below fair value)
  • GF Score™: 80/100 with 2 warning signs

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


PhotoCure ASA Business Description

Address Hoffsveien 4, Oslo, NOR, 0275
PhotoCure ASA is a Norway-based business group associated with the research, development, production, distribution, marketing, and sales of pharmaceutical products and specialty pharmaceutical companies. The technology platform of the company is focused on the field of photodynamic diagnosis and treatment of cancer. The company has two operating segments of the group the Commercial franchise and the Development portfolio. It generates prime revenue from the Commercial franchise segment, which includes Hexvix and Cysview products. Its geographical segments are Nordic countries, Germany, France, Austria, the United Kingdom, BeNeLux, Italy, Other European countries, Canada, and the United States.
80GF Score

Get the complete analysis for OSTO:PHOO

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

kr52.00
Price
kr75.79
GF Value