D-Link (TPE:2332) Cyclically Adjusted PS Ratio: 0.71 (As of Jul. 27, 2026) — 61% Above 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.

TPE:2332 D-Link Corp TPE:2332
69 GF Score
Price NT$24.30
GF Value NT$15.62
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is D-Link Cyclically Adjusted PS Ratio?

D-Link TPE:2332 +9.95% 69 Cyclically Adjusted PS Ratio is 0.71 as of Jul. 27, 2026, which is 61% above its 10-year median of 0.44. GuruFocus rates TPE:2332 with a GF Score™ of 69/100 and a GF Value™ of NT$15.62 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,974 Hardware companies, D-Link ranks better than 68.59% on this metric.

As of today (2026-07-27), D-Link's current share price is NT$24.30. D-Link's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2025 was NT$34.23. D-Link's Cyclically Adjusted PS Ratio for today is 0.71.

The historical rank and industry rank for D-Link's Cyclically Adjusted PS Ratio or its related term are showing as below:

TPE:2332' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.21   Med: 0.44   Max: 0.7
Current: 0.65

During the past years, D-Link's highest Cyclically Adjusted PS Ratio was 0.70. The lowest was 0.21. And the median was 0.44.

TPE:2332's Cyclically Adjusted PS Ratio is ranked better than
68.59% of 1974 companies
in the Hardware industry
Industry Median: 1.36 vs TPE:2332: 0.65

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.

D-Link's adjusted revenue per share data for the three months ended in Dec. 2025 was NT$5.732. 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 NT$34.23 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


D-Link  (TPE:2332) 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.


D-Link Cyclically Adjusted PS Ratio Related Terms


D-Link Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for D-Link'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.

D-Link Cyclically Adjusted PS Ratio Chart

D-Link 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 0.43 0.35 0.50 0.68 0.44

D-Link Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
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 0.68 0.49 0.47 0.49 0.44

TPE:2332 vs CSCO, MSI, HPE: Cyclically Adjusted PS Ratio Comparison

For the Communication Equipment subindustry, D-Link'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.


D-Link Cyclically Adjusted PS Ratio vs Hardware Industry

For the Hardware industry and Technology sector, D-Link's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where D-Link's Cyclically Adjusted PS Ratio falls into.


TPE:2332
69GF Score
D-Link Corp TPE:2332
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

D-Link 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.

D-Link's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=24.30/34.23
=0.71

* 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.

D-Link's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2025 is calculated as:

For example, D-Link's adjusted Revenue per Share data for the three months ended in Dec. 2025 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec. 2025 (Change)*Current CPI (Dec. 2025)
=5.732/324.0540*324.0540
=5.732

Current CPI (Dec. 2025) = 324.0540.

D-Link Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201603 10.201 238.132 13.882
201606 9.623 241.018 12.938
201609 9.514 241.428 12.770
201612 9.926 241.432 13.323
201703 8.008 243.801 10.644
201706 7.645 244.955 10.114
201709 8.894 246.819 11.677
201712 8.371 246.524 11.004
201803 8.330 249.554 10.817
201806 8.360 251.989 10.751
201809 8.972 252.439 11.517
201812 7.676 251.233 9.901
201903 7.002 254.202 8.926
201906 6.825 256.143 8.635
201909 7.417 256.759 9.361
201912 7.427 256.974 9.366
202003 6.121 258.115 7.685
202006 7.042 257.797 8.852
202009 6.871 260.280 8.555
202012 6.864 260.474 8.539
202103 6.480 264.877 7.928
202106 5.224 271.696 6.231
202109 5.868 274.310 6.932
202112 5.665 278.802 6.584
202203 6.693 287.504 7.544
202206 6.930 296.311 7.579
202209 7.477 296.808 8.163
202212 7.337 296.797 8.011
202303 7.088 301.836 7.610
202306 6.895 305.109 7.323
202309 5.196 307.789 5.471
202312 6.178 306.746 6.527
202403 5.963 312.332 6.187
202406 6.842 314.175 7.057
202409 6.220 315.301 6.393
202412 5.723 315.605 5.876
202503 5.574 319.799 5.648
202506 5.265 322.561 5.289
202509 4.944 324.800 4.933
202512 5.732 324.054 5.732

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 0.71 mean?
D-Link (TPE:2332) has a Cyclically Adjusted PS Ratio of 0.71 as of Jul. 27, 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 D-Link and its competitors. This is 61% above median its historical median of 0.44. Over the past decade, D-Link's Cyclically Adjusted PS Ratio has ranged from 0.21 to 0.70. According to the industry distribution chart, D-Link ranks #620 out of 1974 companies in the Hardware industry, placing it in the top 31.4%.
Is D-Link's Cyclically Adjusted PS Ratio too high?
D-Link's current Cyclically Adjusted PS Ratio of 0.71 is 61% above median its 10-year median of 0.44. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 0.70. The Hardware industry median Cyclically Adjusted PS Ratio is 1.36. D-Link's value of 0.71 is 47.8% below this industry median. Based on the distribution chart, D-Link ranks #620 out of 1974 companies in the Hardware industry, which is above the industry midpoint. Overall, D-Link has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does D-Link's Cyclically Adjusted PS Ratio compare to CSCO and MSI?
According to the Hardware industry distribution chart, D-Link ranks #620 out of 1974 companies for Cyclically Adjusted PS Ratio. This puts D-Link in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.36. D-Link's value of 0.71 is 47.8% below this benchmark. Historically, D-Link's own Cyclically Adjusted PS Ratio has ranged from 0.21 to 0.70 over the past decade. While the company's 10-year median is 0.44 vs. the industry median of 1.36, D-Link 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 Hardware company?
The median Cyclically Adjusted PS Ratio among Hardware companies is 1.36, based on 1,974 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. D-Link's current Cyclically Adjusted PS Ratio of 0.71 is 47.8% 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 D-Link and its competitors. For the Hardware industry, the median Cyclically Adjusted PS Ratio is 1.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. D-Link's current Cyclically Adjusted PS Ratio is 0.71, which is 61% above median its own 10-year median of 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is D-Link stock overvalued right now?
Based on GuruFocus' analysis, D-Link (TPE:2332) is currently considered Significantly Overvalued. The stock's GF Value™ is NT$15.62, compared to a current price of NT$24.30 — trading 55.6% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.71, which is 61% above median its 10-year median of 0.44 and 47.8% below the Hardware industry median of 1.36. D-Link's overall GF Score™ is 69/100 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 D-Link (TPE:2332), the current Cyclically Adjusted PS Ratio is 0.71 as of Jul. 27, 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 D-Link (TPE:2332) Overvalued in 2026?

Based on GuruFocus' analysis, D-Link stock appears to be overvalued. The current stock price of NT$24.30 is trading 55.6% above its estimated GF Value™ of NT$15.62. GuruFocus considers D-Link to be Significantly Overvalued.

Key valuation signals for TPE:2332:

  • Cyclically Adjusted PS Ratio: 0.71 (61% above median its 10-year median of 0.44)
  • GF Value™: NT$15.62 vs. price of NT$24.30 (55.6% above fair value)
  • GF Score™: 69/100 with 6 warning signs
  • Industry Position: 47.8% below the Hardware median (#620 of 1974)

No single metric tells the full story. See the TPE:2332 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


D-Link Business Description

Address Xinhu 3rd Road, No. 289, Neihu District, Taipei, TWN, 114
D-Link Corp is engaged in the research, development, and sale of computer network systems, wireless LAN products, and spare parts for integrated circuits. The main products offered by the Group include wi-fi routers, webcams, wireless network cards, micro data center switches, IP surveillance solutions, Ethernet switches, etc., under various agency brands such as Cyberbit, Juniper, Ruckus, SonicWall, A10, and others. The Group has three reportable segments: American markets, European markets, and Asian markets and others. The majority of its revenue is generated from the Asian markets and others segment.
69GF Score

Get the complete analysis for TPE:2332

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

NT$24.30
Price
NT$15.62
GF Value