Hainan Airlines Holding Co (SHSE:900945) Cyclically Adjusted PS Ratio: 0.47 (As of Aug. 24, 2026) — 13% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
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.
Reviewed by: Charlie Tian Charlie Tian
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.

SHSE:900945 Hainan Airlines Holding Co Ltd SHSE:900945
45 GF Score
Price $0.20
GF Value $0.32
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Hainan Airlines Holding Co Cyclically Adjusted PS Ratio?

Hainan Airlines Holding Co SHSE:900945 -1.45% 45 Cyclically Adjusted PS Ratio is 0.47 as of Aug. 24, 2026, which is 13% below its 10-year median of 0.54. GuruFocus rates SHSE:900945 with a GF Score™ of 45/100 and a GF Value™ of $0.32 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 761 Transportation companies, Hainan Airlines Holding Co ranks better than 67.67% on this metric.

As of today (2026-08-24), Hainan Airlines Holding Co's current share price is $0.204. Hainan Airlines Holding Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was $0.43. Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio for today is 0.47.

The historical rank and industry rank for Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio or its related term are showing as below:

SHSE:900945' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.35   Med: 0.54   Max: 1.15
Current: 0.51

During the past years, Hainan Airlines Holding Co's highest Cyclically Adjusted PS Ratio was 1.15. The lowest was 0.35. And the median was 0.54.

SHSE:900945's Cyclically Adjusted PS Ratio is ranked better than
67.67% of 761 companies
in the Transportation industry
Industry Median: 0.93 vs SHSE:900945: 0.51

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.

Hainan Airlines Holding Co's adjusted revenue per share data for the three months ended in Mar. 2026 was $0.062. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $0.43 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Hainan Airlines Holding Co  (SHSE:900945) 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.


Hainan Airlines Holding Co Cyclically Adjusted PS Ratio Related Terms


Hainan Airlines Holding Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Hainan Airlines Holding Co'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.

Hainan Airlines Holding Co Cyclically Adjusted PS Ratio Chart

Hainan Airlines Holding Co 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 0.52 0.60 0.47 0.62 0.70

Hainan Airlines Holding Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.52 0.51 0.62 0.70 0.57

SHSE:900945 vs DAL, UAL, LUV: Cyclically Adjusted PS Ratio Comparison

For the Airlines subindustry, Hainan Airlines Holding Co'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.


Hainan Airlines Holding Co Cyclically Adjusted PS Ratio vs Transportation Industry

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

* The bar in red indicates where Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio falls into.


SHSE:900945
45GF Score
Hainan Airlines Holding Co Ltd SHSE:900945
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hainan Airlines Holding Co 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.

Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=0.204/0.43
=0.47

* 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.

Hainan Airlines Holding Co's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Hainan Airlines Holding Co's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=0.062/116.3033*116.3033
=0.062

Current CPI (Mar. 2026) = 116.3033.

Hainan Airlines Holding Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.110 101.400 0.126
201609 0.134 102.400 0.152
201612 0.065 102.600 0.074
201703 0.125 103.200 0.141
201706 0.122 103.100 0.138
201709 0.310 104.100 0.346
201712 0.099 104.500 0.110
201803 0.158 105.300 0.175
201806 0.148 104.900 0.164
201809 0.173 106.600 0.189
201812 0.193 106.500 0.211
201903 0.165 107.700 0.178
201906 0.142 107.700 0.153
201909 0.167 109.800 0.177
201912 0.026 111.200 0.027
202003 0.058 112.300 0.060
202006 0.041 110.400 0.043
202009 0.071 111.700 0.074
202012 0.089 111.500 0.093
202103 0.071 112.662 0.073
202106 0.098 111.769 0.102
202109 0.082 112.215 0.085
202112 0.048 113.108 0.049
202203 0.030 114.335 0.031
202206 0.021 114.558 0.021
202209 0.033 115.339 0.033
202212 0.016 115.116 0.016
202303 0.045 115.116 0.045
202306 0.046 114.558 0.047
202309 0.061 115.339 0.062
202312 0.035 114.781 0.035
202403 0.056 115.227 0.057
202406 0.045 114.781 0.046
202409 0.066 115.785 0.066
202412 0.040 114.893 0.040
202503 0.056 115.116 0.057
202506 0.049 114.907 0.050
202509 0.068 115.471 0.068
202512 0.050 115.832 0.050
202603 0.062 116.303 0.062

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.

What does a Cyclically Adjusted PS Ratio of 0.47 mean?
Hainan Airlines Holding Co (SHSE:900945) has a Cyclically Adjusted PS Ratio of 0.47 as of Aug. 24, 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 Hainan Airlines Holding Co and its competitors. This is 13% below median its historical median of 0.54. Over the past decade, Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio has ranged from 0.35 to 1.15. According to the industry distribution chart, Hainan Airlines Holding Co ranks #246 out of 761 companies in the Transportation industry, placing it in the top 32.3%.
Is Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio too high?
Hainan Airlines Holding Co's current Cyclically Adjusted PS Ratio of 0.47 is 13% below median its 10-year median of 0.54. Over the past 10 years, this metric has ranged from a low of 0.35 to a high of 1.15. The Transportation industry median Cyclically Adjusted PS Ratio is 0.93. Hainan Airlines Holding Co's value of 0.47 is 49.5% below this industry median. Based on the distribution chart, Hainan Airlines Holding Co ranks #246 out of 761 companies in the Transportation industry, which is above the industry midpoint. Overall, Hainan Airlines Holding Co has a GF Score™ of 45/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hainan Airlines Holding Co's Cyclically Adjusted PS Ratio compare to DAL and UAL?
According to the Transportation industry distribution chart, Hainan Airlines Holding Co ranks #246 out of 761 companies for Cyclically Adjusted PS Ratio. This puts Hainan Airlines Holding Co in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.93. Hainan Airlines Holding Co's value of 0.47 is 49.5% below this benchmark. Historically, Hainan Airlines Holding Co's own Cyclically Adjusted PS Ratio has ranged from 0.35 to 1.15 over the past decade. While the company's 10-year median is 0.54 vs. the industry median of 0.93, Hainan Airlines Holding Co has consistently been below 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 Transportation company?
The median Cyclically Adjusted PS Ratio among Transportation companies is 0.93, based on 761 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. Hainan Airlines Holding Co's current Cyclically Adjusted PS Ratio of 0.47 is 49.5% below 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 Hainan Airlines Holding Co and its competitors. For the Transportation industry, the median Cyclically Adjusted PS Ratio is 0.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hainan Airlines Holding Co's current Cyclically Adjusted PS Ratio is 0.47, which is 13% below median its own 10-year median of 0.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hainan Airlines Holding Co stock overvalued right now?
Based on GuruFocus' analysis, Hainan Airlines Holding Co (SHSE:900945) is currently considered Possible Value Trap. The stock's GF Value™ is $0.32, compared to a current price of $0.20 — trading 36.3% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.47, which is 13% below median its 10-year median of 0.54 and 49.5% below the Transportation industry median of 0.93. Hainan Airlines Holding Co's overall GF Score™ is 45/100 with 6 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 Hainan Airlines Holding Co (SHSE:900945), the current Cyclically Adjusted PS Ratio is 0.47 as of Aug. 24, 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 Hainan Airlines Holding Co (SHSE:900945) Overvalued in 2026?

Based on GuruFocus' analysis, Hainan Airlines Holding Co stock appears to be undervalued. The current stock price of $0.20 is trading 36.3% below its estimated GF Value™ of $0.32. GuruFocus considers Hainan Airlines Holding Co to be Possible Value Trap.

Key valuation signals for SHSE:900945:

  • Cyclically Adjusted PS Ratio: 0.47 (13% below median its 10-year median of 0.54)
  • GF Value™: $0.32 vs. price of $0.20 (36.3% below fair value)
  • GF Score™: 45/100 with 6 warning signs
  • Industry Position: 49.5% below the Transportation median (#246 of 761)

No single metric tells the full story. See the SHSE:900945 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hainan Airlines Holding Co Business Description

Other Exchanges 600221:China
Address No. 9 Meilan Airport Road, Building 21, Comprehensive Office Building, Hainan Airlines Haikou Meilan Base, Meilan District, Hainan Province, Haikou, CHN, 571126
Hainan Airlines Holding Co Ltd is an airline company. The company is engaged in operating approved domestic air passenger and cargo transportation business, as well as business charter flight business to neighboring countries and regions. It is also engaged in the production of in-flight supplies, aviation equipment, aviation ground equipment and spare parts, terminal services and operations, and provides insurance agency services.
45GF Score

Get the complete analysis for SHSE:900945

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

$0.20
Price
$0.32
GF Value