Capital Securities (SHSE:601136) Cyclically Adjusted PS Ratio: (As of Sep. 16, 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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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:601136 Capital Securities Corp Ltd SHSE:601136
56 GF Score
Price ¥14.12
GF Value ¥24.58
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Capital Securities Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Capital Securities  (SHSE:601136) 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.


Capital Securities Cyclically Adjusted PS Ratio Related Terms


Capital Securities Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Capital Securities'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.

Capital Securities Cyclically Adjusted PS Ratio Chart

Capital Securities Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial 0.00 0.00 0.00 0.00 0.00

Capital Securities Quarterly Data
Sep21 Dec21 Mar22 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 0.00 0.00 0.00 0.00 0.00

SHSE:601136 vs MS, GS, SCHW: Cyclically Adjusted PS Ratio Comparison

For the Capital Markets subindustry, Capital Securities'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.


Capital Securities Cyclically Adjusted PS Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Capital Securities's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


SHSE:601136
56GF Score
Capital Securities Corp Ltd SHSE:601136
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Capital Securities 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.

Capital Securities's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Capital Securities's adjusted Revenue per Share data for the fiscal year that ended in Dec25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=0/115.8323*115.8323
=0.000

Current CPI (Dec25) = 115.8323.

Capital Securities Annual Data

Revenue per Share CPI Adj_RevenuePerShare
0.000 0.000
0.000 0.000
0.000 0.000
201912 0.878 111.200 0.915
202012 1.087 111.500 1.129
202112 0.910 113.108 0.932
202212 1.094 115.116 1.101
202312 1.323 114.781 1.335
202412 1.138 114.893 1.147
202512 0.000 115.832 0.000

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 Capital Securities (SHSE:601136) Overvalued in 2026?

Based on GuruFocus' analysis, Capital Securities stock appears to be undervalued. The current stock price of ¥14.12 is trading 42.6% below its estimated GF Value™ of ¥24.58. GuruFocus considers Capital Securities to be Significantly Undervalued.

Key valuation signals for SHSE:601136:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: ¥24.58 vs. price of ¥14.12 (42.6% below fair value)
  • GF Score™: 56/100 with 2 warning signs

No single metric tells the full story. See the SHSE:601136 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Capital Securities Business Description

Address Yard 5, Anding Road, Floor 11-21, Block A, Building 13, Chaoyang District, Beijing, CHN, 100029
Capital Securities Corp Ltd is a security company. The company's business scope includes securities brokerage, securities investment consulting, financial advisory related to securities trading and securities investment activities, securities underwriting and sponsorship, securities proprietary trading, securities investment fund sales, securities asset management, margin financing and securities lending, agency sales of financial products, Futures companies provide various financial services such as intermediary introduction business.
56GF Score

Get the complete analysis for SHSE:601136

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

¥14.12
Price
¥24.58
GF Value