SBM Offshore NV (STU:IHCB) 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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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.

STU:IHCB SBM Offshore NV STU:IHCB
78 GF Score
Price €36.52
GF Value €24.41
Valuation Significantly Overvalued
! 6 Warning Signs
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What is SBM Offshore NV Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


SBM Offshore NV  (STU:IHCB) 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.


SBM Offshore NV Cyclically Adjusted PS Ratio Related Terms


SBM Offshore NV Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for SBM Offshore NV'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.

SBM Offshore NV Cyclically Adjusted PS Ratio Chart

SBM Offshore NV 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 0.84 0.84 0.69 0.91 1.18

SBM Offshore NV Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 0.77 0.90 1.13 1.18 1.39

STU:IHCB vs SLB, BKR, HAL: Cyclically Adjusted PS Ratio Comparison

For the Oil & Gas Equipment & Services subindustry, SBM Offshore NV'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.


SBM Offshore NV Cyclically Adjusted PS Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, SBM Offshore NV's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where SBM Offshore NV's Cyclically Adjusted PS Ratio falls into.


STU:IHCB
78GF Score
SBM Offshore NV STU:IHCB
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SBM Offshore NV 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.

SBM Offshore NV's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, SBM Offshore NV'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)
=29.775/135.4700*135.4700
=29.775

Current CPI (Dec25) = 135.4700.

SBM Offshore NV Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 9.754 100.710 13.121
201712 8.134 101.970 10.806
201812 9.293 103.970 12.109
201912 15.257 106.800 19.353
202012 16.017 107.850 20.119
202112 17.076 114.010 20.290
202212 25.989 124.940 28.179
202312 25.292 126.450 27.096
202412 24.433 131.630 25.146
202512 29.775 135.470 29.775

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 SBM Offshore NV (STU:IHCB) Overvalued in 2026?

Based on GuruFocus' analysis, SBM Offshore NV stock appears to be overvalued. The current stock price of €36.52 is trading 49.6% above its estimated GF Value™ of €24.41. GuruFocus considers SBM Offshore NV to be Significantly Overvalued.

Key valuation signals for STU:IHCB:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €24.41 vs. price of €36.52 (49.6% above fair value)
  • GF Score™: 78/100 with 6 warning signs

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


SBM Offshore NV Business Description

Industry EnergyOil & Gas
Address Evert van de Beekstraat 1-77, Schiphol, Amsterdam, NH, NLD, 1118 CL
SBM Offshore NV provides floating production solutions to the offshore energy industry both in hydrocarbon and renewable markets. Its main activities are the design, supply, installation, operation, and life extension of Floating Production Storage and Offloading (FPSO) vessels. The company is also working on floating offshore wind, wave energy, and research and development of products for future energy markets. It has dedicated product lines to provide specific floating equipment and products such as Turret Mooring Systems (TMS) and offshore (off)loading Terminals. The company has two segments: Lease and Operate segment includes all earned day rates on operating lease and operate contracts, and the turnkey segment includes revenues from Turnkey supply contracts and after-sales services.
78GF Score

Get the complete analysis for STU:IHCB

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

€36.52
Price
€24.41
GF Value