Macronix International Co (TPE:2337) Cyclically Adjusted PS Ratio: (As of Aug. 07, 2026)

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:2337 Macronix International Co Ltd TPE:2337
54 GF Score
Price NT$121.50
GF Value NT$52.22
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Macronix International Co Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Macronix International Co  (TPE:2337) 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.


Macronix International Co Cyclically Adjusted PS Ratio Related Terms


Macronix International Co Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Macronix International 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.

Macronix International Co Cyclically Adjusted PS Ratio Chart

Macronix International 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 2.23 1.63 1.48 0.92 1.79

Macronix International 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 0.95 0.97 1.13 1.79 5.11

TPE:2337 vs NVDA, AVGO, MU: Cyclically Adjusted PS Ratio Comparison

For the Semiconductors subindustry, Macronix International 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.


Macronix International Co Cyclically Adjusted PS Ratio vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Macronix International Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Macronix International Co's Cyclically Adjusted PS Ratio falls into.


TPE:2337
54GF Score
Macronix International Co Ltd TPE:2337
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Macronix International 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.

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

For example, Macronix International 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)
=5.276/330.2130*330.2130
=5.276

Current CPI (Mar. 2026) = 330.2130.

Macronix International Co Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.858 241.018 3.916
201609 3.952 241.428 5.405
201612 3.781 241.432 5.171
201703 3.635 243.801 4.923
201706 3.550 244.955 4.786
201709 5.669 246.819 7.584
201712 5.569 246.524 7.460
201803 4.871 249.554 6.445
201806 4.770 251.989 6.251
201809 5.339 252.439 6.984
201812 4.335 251.233 5.698
201903 3.177 254.202 4.127
201906 3.973 256.143 5.122
201909 6.426 256.759 8.264
201912 5.154 256.974 6.623
202003 5.068 258.115 6.484
202006 5.019 257.797 6.429
202009 5.891 260.280 7.474
202012 5.409 260.474 6.857
202103 5.151 264.877 6.422
202106 6.113 271.696 7.430
202109 7.887 274.310 9.494
202112 7.463 278.802 8.839
202203 6.094 287.504 6.999
202206 6.027 296.311 6.717
202209 6.011 296.808 6.688
202212 4.761 296.797 5.297
202303 3.832 301.836 4.192
202306 4.186 305.109 4.530
202309 3.928 307.789 4.214
202312 3.133 306.746 3.373
202403 3.107 312.332 3.285
202406 3.381 314.175 3.554
202409 4.186 315.301 4.384
202412 3.189 315.605 3.337
202503 3.311 319.799 3.419
202506 3.676 322.561 3.763
202509 4.472 324.800 4.547
202512 4.075 324.054 4.152
202603 5.276 330.213 5.276

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 Macronix International Co (TPE:2337) Overvalued in 2026?

Based on GuruFocus' analysis, Macronix International Co stock appears to be overvalued. The current stock price of NT$121.50 is trading 132.7% above its estimated GF Value™ of NT$52.22. GuruFocus considers Macronix International Co to be Significantly Overvalued.

Key valuation signals for TPE:2337:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: NT$52.22 vs. price of NT$121.50 (132.7% above fair value)
  • GF Score™: 54/100 with 4 warning signs

No single metric tells the full story. See the TPE:2337 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Macronix International Co Business Description

Address No. 16 Li-Hsin Road, Science Park, Hsin-Chu, TWN
Macronix International Co Ltd designs, manufactures, and supplies integrated circuits and memory chips. It specializes in nonvolatile memory devices, including NOR Flash, NAND Flash, and read-only memory products. The Company also performs design, research and development, consultation and trade of relevant products. The company operates as a single reportable segment: the memory products and wafer fabrication segment. The firm operates in four Products: Flash, ROM, Foundry, and Others. The majority of revenue is from Flash Product. The company operates in Taiwan, China, and other countries generating key revenue from Taiwan region.
54GF Score

Get the complete analysis for TPE:2337

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

NT$121.50
Price
NT$52.22
GF Value