Banco Macro (STU:B4W) 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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STU:B4W Banco Macro SA STU:B4W
61 GF Score
Price €64.50
GF Value €35.93
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Banco Macro Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Banco Macro  (STU:B4W) 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.


Banco Macro Cyclically Adjusted PS Ratio Related Terms


Banco Macro Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Banco Macro'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.

Banco Macro Cyclically Adjusted PS Ratio Chart

Banco Macro 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 0.44 0.46 0.58 1.96 1.47

Banco Macro 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 1.36 0.80 1.69 1.45 1.72

STU:B4W vs USB, PNC: Cyclically Adjusted PS Ratio Comparison

For the Banks - Regional subindustry, Banco Macro'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.


Banco Macro Cyclically Adjusted PS Ratio vs Banks Industry

For the Banks industry and Financial Services sector, Banco Macro's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


STU:B4W
61GF Score
Banco Macro SA STU:B4W
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Banco Macro 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.

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

For example, Banco Macro'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)
=12.955/333.9520*333.9520
=12.955

Current CPI (Jun. 2026) = 333.9520.

Banco Macro Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 6.722 241.428 9.298
201612 7.350 241.432 10.167
201703 7.297 243.801 9.995
201706 7.673 244.955 10.461
201709 6.355 246.819 8.598
201712 7.954 246.524 10.775
201803 6.298 249.554 8.428
201806 5.419 251.989 7.182
201809 4.497 252.439 5.949
201812 5.541 251.233 7.365
201903 5.720 254.202 7.515
201906 6.261 256.143 8.163
201909 7.021 256.759 9.132
201912 6.400 256.974 8.317
202003 4.603 258.115 5.955
202006 3.689 257.797 4.779
202009 3.017 260.280 3.871
202012 2.343 260.474 3.004
202103 5.019 264.877 6.328
202106 5.057 271.696 6.216
202109 5.479 274.310 6.670
202112 6.538 278.802 7.831
202203 7.890 287.504 9.165
202206 9.540 296.311 10.752
202209 13.151 296.808 14.797
202212 16.538 296.797 18.608
202303 12.038 301.836 13.319
202306 15.679 305.109 17.161
202309 15.443 307.789 16.756
202312 58.506 306.746 63.695
202403 26.931 312.332 28.795
202406 7.071 314.175 7.516
202409 12.442 315.301 13.178
202412 14.859 315.605 15.723
202503 11.214 319.799 11.710
202506 11.588 322.561 11.997
202509 8.181 324.800 8.412
202512 13.550 324.054 13.964
202603 12.826 330.213 12.971
202606 12.955 333.952 12.955

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 Banco Macro (STU:B4W) Overvalued in 2026?

Based on GuruFocus' analysis, Banco Macro stock appears to be overvalued. The current stock price of €64.50 is trading 79.5% above its estimated GF Value™ of €35.93. GuruFocus considers Banco Macro to be Significantly Overvalued.

Key valuation signals for STU:B4W:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €35.93 vs. price of €64.50 (79.5% above fair value)
  • GF Score™: 61/100 with 4 warning signs

No single metric tells the full story. See the STU:B4W stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Banco Macro Business Description

Address Avenida Eduardo Madero 1172, City of Buenos Aires, ARG, C1106ACY
Banco Macro SA is a financial institution and it provides standard banking products and services designed to suit individual needs. It has two categories of customers, retail customers, which include individuals and entrepreneurs, and corporate customers, which include small, medium, and large companies and corporations. In addition, it provides services to four provincial governments. The company generates the majority of its revenue from Argentina.
61GF Score

Get the complete analysis for STU:B4W

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

€64.50
Price
€35.93
GF Value