China Eastern Airlines (SHSE:600115) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.

SHSE:600115 China Eastern Airlines Corp Ltd SHSE:600115
50 GF Score
Price ¥3.46
GF Value ¥4.84
Valuation Modestly Undervalued
! 1 Warning Sign
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What is China Eastern Airlines Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


China Eastern Airlines  (SHSE:600115) 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.


China Eastern Airlines Cyclically Adjusted PS Ratio Related Terms


China Eastern Airlines Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for China Eastern Airlines'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.

China Eastern Airlines Cyclically Adjusted PS Ratio Chart

China Eastern Airlines 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 0.70 0.81 0.60 0.64 0.99

China Eastern Airlines 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 0.66 0.68 0.99 0.70 0.63

SHSE:600115 vs DAL, UAL, LUV: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, China Eastern Airlines'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.


China Eastern Airlines Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, China Eastern Airlines's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where China Eastern Airlines's Cyclically Adjusted PS Ratio falls into.


SHSE:600115
50GF Score
China Eastern Airlines Corp Ltd SHSE:600115
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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China Eastern Airlines 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.

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

For example, China Eastern Airlines'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)
=1.684/116.0564*116.0564
=1.684

Current CPI (Jun. 2026) = 116.0564.

China Eastern Airlines Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 2.010 102.400 2.278
201612 1.600 102.600 1.810
201703 1.696 103.200 1.907
201706 1.623 103.100 1.827
201709 2.038 104.100 2.272
201712 1.674 104.500 1.859
201803 1.849 105.300 2.038
201806 1.912 104.900 2.115
201809 2.312 106.600 2.517
201812 1.870 106.500 2.038
201903 2.077 107.700 2.238
201906 1.986 107.700 2.140
201909 2.142 109.800 2.264
201912 1.676 111.200 1.749
202003 0.943 112.300 0.975
202006 0.591 110.400 0.621
202009 1.048 111.700 1.089
202012 0.998 111.500 1.039
202103 0.818 112.662 0.843
202106 1.301 111.769 1.351
202109 1.086 112.215 1.123
202112 0.826 113.108 0.848
202203 0.671 114.335 0.681
202206 0.354 114.558 0.359
202209 0.874 115.339 0.879
202212 0.543 115.116 0.547
202303 0.999 115.116 1.007
202306 1.222 114.558 1.238
202309 1.621 115.339 1.631
202312 1.262 114.781 1.276
202403 1.489 115.227 1.500
202406 1.391 114.781 1.406
202409 1.722 115.785 1.726
202412 1.325 114.893 1.338
202503 1.505 115.116 1.517
202506 1.509 114.907 1.524
202509 1.792 115.471 1.801
202512 1.518 115.832 1.521
202603 1.678 116.303 1.674
202606 1.684 116.056 1.684

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 China Eastern Airlines (SHSE:600115) Overvalued in 2026?

Based on GuruFocus' analysis, China Eastern Airlines stock appears to be undervalued. The current stock price of ¥3.46 is trading 28.5% below its estimated GF Value™ of ¥4.84. GuruFocus considers China Eastern Airlines to be Modestly Undervalued.

Key valuation signals for SHSE:600115:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ¥4.84 vs. price of ¥3.46 (28.5% below fair value)
  • GF Score™: 50/100 with 1 warning sign

No single metric tells the full story. See the SHSE:600115 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


China Eastern Airlines Business Description

Address 36 Hongxiang 3rd Road, Minhang District, Shanghai, CHN, 201100
China Eastern Airlines Corp Ltd principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery and other extended transportation services, also manufacturing and maintenance of aircraft and aviation equipment, agency services, import and export business, tourism and hotel business; and other businesses related to air transportation. The Group has two reportable segments. Airline transportation operations mainly comprise the provision of passenger, cargo, mail delivery, and ground services. Other services, including tour operations, air catering, and other miscellaneous services, are not included within the airline transportation operations segment. Geographically, the company operates Domestic, Regional and International.
50GF Score

Get the complete analysis for SHSE:600115

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

¥3.46
Price
¥4.84
GF Value