PMMAF (Puma SE) Cyclically Adjusted PS Ratio: (As of Aug. 06, 2026)

Author: 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
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.

PMMAF Puma SE PMMAF
75 GF Score
Price $30.40
GF Value $37.38
Valuation Modestly Undervalued
! 8 Warning Signs
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What is Puma SE Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Puma SE  (OTCPK:PMMAF) 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.


Puma SE Cyclically Adjusted PS Ratio Related Terms


Puma SE Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Puma SE'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.

Puma SE Cyclically Adjusted PS Ratio Chart

Puma SE 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 3.53 1.57 1.24 0.99 0.47

Puma SE 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 0.50 0.45 0.47 0.44 0.00

PMMAF vs NKE, DECK, ONON: Cyclically Adjusted PS Ratio Comparison

For the Footwear & Accessories subindustry, Puma SE'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.


Puma SE Cyclically Adjusted PS Ratio vs Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Puma SE's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


PMMAF
75GF Score
Puma SE PMMAF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Puma SE 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.

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

For example, Puma SE'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)
=13.214/131.3638*131.3638
=13.214

Current CPI (Jun. 2026) = 131.3638.

Puma SE Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 7.428 101.017 9.659
201612 6.766 101.217 8.781
201703 7.195 101.417 9.320
201706 7.256 102.117 9.334
201709 8.957 102.717 11.455
201712 8.237 102.617 10.544
201803 9.332 102.917 11.911
201806 8.201 104.017 10.357
201809 9.722 104.718 12.196
201812 9.331 104.217 11.762
201903 9.971 104.217 12.568
201906 9.204 105.718 11.437
201909 10.849 106.018 13.443
201912 10.985 105.818 13.637
202003 9.604 105.718 11.934
202006 6.266 106.618 7.720
202009 12.477 105.818 15.489
202012 12.362 105.518 15.390
202103 12.327 107.518 15.061
202106 12.799 108.486 15.498
202109 14.926 109.435 17.917
202112 13.342 110.384 15.878
202203 14.076 113.968 16.225
202206 14.058 115.760 15.953
202209 15.604 118.818 17.252
202212 15.540 119.345 17.105
202303 15.636 122.402 16.781
202306 15.457 123.140 16.489
202309 16.462 124.195 17.412
202312 14.411 123.773 15.295
202403 15.238 125.038 16.009
202406 15.230 125.882 15.893
202409 17.131 126.198 17.832
202412 13.153 127.041 13.601
202503 14.518 127.779 14.925
202506 14.612 128.412 14.948
202509 15.556 129.255 15.810
202512 10.501 129.361 10.664
202603 14.620 131.258 14.632
202606 13.214 131.364 13.214

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 Puma SE (PMMAF) Overvalued in 2026?

Based on GuruFocus' analysis, Puma SE stock appears to be undervalued. The current stock price of $30.40 is trading 18.7% below its estimated GF Value™ of $37.38. GuruFocus considers Puma SE to be Modestly Undervalued.

Key valuation signals for PMMAF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: $37.38 vs. price of $30.40 (18.7% below fair value)
  • GF Score™: 75/100 with 8 warning signs

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


Puma SE Business Description

Address Puma Way 1, Herzogenaurach, BY, DEU, 91074
Puma designs and markets footwear, apparel, and accessories under its own name and golf clubs and golf accessories under the Cobra Golf name. Footwear (56% of 2025 sales) is its largest category, followed by apparel (32%) and accessories (12%). Puma also licenses its name for fragrances, eyewear, and watches. Most of its sales are through wholesale partners (68% of 2025 sales), with the rest through approximately 1,000 owned retail and outlet stores and online channels. The company's products are sold in Europe, the Middle East, and Africa (43% of 2025 sales), the Americas (35%), and Asia-Pacific (22%). China-based competitor Anta is in the process of acquiring 29% of Puma's outstanding shares.
75GF Score

Get the complete analysis for PMMAF

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

$30.40
Price
$37.38
GF Value