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SHSE:600999's Cyclically Adjusted PS Ratio is ranked worse than 73.61% of 576
companies
in the Capital Markets industry
Industry Median: 3.68
vs SHSE:600999: 8.25
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.
China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) 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 Merchants Securities Asset Management Co.,Ltd Cyclically Adjusted PS Ratio Related Terms
China Merchants Securities Asset Management Co.,Ltd Cyclically Adjusted PS Ratio Historical Data
* 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 Merchants Securities Asset Management Co.,Ltd Cyclically Adjusted PS Ratio Chart
China Merchants Securities Asset Management Co.,Ltd Annual Data
SHSE:600999 vs MS, GS, SCHW: Cyclically Adjusted PS Ratio Comparison
For the Capital Markets subindustry, China Merchants Securities Asset Management Co.,Ltd'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 Merchants Securities Asset Management Co.,Ltd Cyclically Adjusted PS Ratio vs Capital Markets Industry
China Merchants Securities Asset Management Co.,Ltd 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.
* 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.
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 8.17 mean?
China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) has a Cyclically Adjusted PS Ratio of 8.17 as of Sep. 04, 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 China Merchants Securities Asset Management Co.,Ltd and its competitors. This is near median its historical median of 8.18. Over the past decade, China Merchants Securities Asset Management Co.,Ltd's Cyclically Adjusted PS Ratio has ranged from 5.79 to 14.60. According to the industry distribution chart, China Merchants Securities Asset Management Co.,Ltd ranks #424 out of 576 companies in the Capital Markets industry, placing it in the top 73.6%.
Is China Merchants Securities Asset Management Co.,Ltd's Cyclically Adjusted PS Ratio too high?
China Merchants Securities Asset Management Co.,Ltd's current Cyclically Adjusted PS Ratio of 8.17 is near median its 10-year median of 8.18. Over the past 10 years, this metric has ranged from a low of 5.79 to a high of 14.60. The Capital Markets industry median Cyclically Adjusted PS Ratio is 3.68. China Merchants Securities Asset Management Co.,Ltd's value of 8.17 is 122% above this industry median. Based on the distribution chart, China Merchants Securities Asset Management Co.,Ltd ranks #424 out of 576 companies in the Capital Markets industry, which is below the industry midpoint. Overall, China Merchants Securities Asset Management Co.,Ltd has a GF Score™ of 57/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Merchants Securities Asset Management Co.,Ltd's Cyclically Adjusted PS Ratio compare to MS and GS?
According to the Capital Markets industry distribution chart, China Merchants Securities Asset Management Co.,Ltd ranks #424 out of 576 companies for Cyclically Adjusted PS Ratio. This places China Merchants Securities Asset Management Co.,Ltd in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 3.68. China Merchants Securities Asset Management Co.,Ltd's value of 8.17 is 122% above this benchmark. Historically, China Merchants Securities Asset Management Co.,Ltd's own Cyclically Adjusted PS Ratio has ranged from 5.79 to 14.60 over the past decade. While the company's 10-year median is 8.18 vs. the industry median of 3.68, China Merchants Securities Asset Management Co.,Ltd 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 a Capital Markets company?
The median Cyclically Adjusted PS Ratio among Capital Markets companies is 3.68, based on 576 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. China Merchants Securities Asset Management Co.,Ltd's current Cyclically Adjusted PS Ratio of 8.17 is 122% 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 China Merchants Securities Asset Management Co.,Ltd and its competitors. For the Capital Markets industry, the median Cyclically Adjusted PS Ratio is 3.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Merchants Securities Asset Management Co.,Ltd's current Cyclically Adjusted PS Ratio is 8.17, which is near median its own 10-year median of 8.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Merchants Securities Asset Management Co.,Ltd stock overvalued right now?
Based on GuruFocus' analysis, China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) is currently considered Significantly Undervalued. The stock's GF Value™ is ¥31.09, compared to a current price of ¥18.54 — trading 40.4% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 8.17, which is near median its 10-year median of 8.18 and 122% above the Capital Markets industry median of 3.68. China Merchants Securities Asset Management Co.,Ltd's overall GF Score™ is 57/100 with 3 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 China Merchants Securities Asset Management Co.,Ltd (SHSE:600999), the current Cyclically Adjusted PS Ratio is 8.17 as of Sep. 04, 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 China Merchants Securities Asset Management Co.,Ltd (SHSE:600999) Overvalued in 2026?
Based on GuruFocus' analysis, China Merchants Securities Asset Management Co.,Ltd stock appears to be undervalued.
The current stock price of ¥18.54 is trading 40.4% below its estimated GF Value™ of ¥31.09.
GuruFocus considers China Merchants Securities Asset Management Co.,Ltd to be Significantly Undervalued.
Key valuation signals for SHSE:600999:
Cyclically Adjusted PS Ratio: 8.17 (near median its 10-year median of 8.18)
GF Value™: ¥31.09 vs. price of ¥18.54 (40.4% below fair value)
Industry Position: 122% above the Capital Markets median (#424 of 576)
No single metric tells the full story. See the SHSE:600999 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Merchants Securities Asset Management Co.,Ltd is a financial service provider. The company provides services like investment banking, financial advisory, equity underwriting, asset management, investment advisory, and trading equity securities, among others. Its business is divided into four segments: Wealth management and institutional business; Investment banking; Investment management; and Investment and trading. The Wealth management and institutional business segment, which generates key revenue, engages in the trading of stocks and futures contracts on behalf of clients and includes margin financing, securities lending, and selling financial and other wealth management products.
57GF Score
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Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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