DFI (TPE:2397) Cyclically Adjusted PS Ratio: 0.72 (As of Jul. 25, 2026) — 35% Below Median

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Director of Data and Quant Analytics at GuruFocus
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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:2397 DFI Inc TPE:2397
76 GF Score
Price NT$59.20
GF Value NT$83.75
Valuation Modestly Undervalued
! 3 Warning Signs
View Full Analysis

What is DFI Cyclically Adjusted PS Ratio?

DFI TPE:2397 -1.33% 76 Cyclically Adjusted PS Ratio is 0.72 as of Jul. 25, 2026, which is 35% below its 10-year median of 1.10. GuruFocus rates TPE:2397 with a GF Score™ of 76/100 and a GF Value™ of NT$83.75 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,976 Hardware companies, DFI ranks better than 67.66% on this metric.

As of today (2026-07-25), DFI's current share price is NT$59.20. DFI's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2025 was NT$82.05. DFI's Cyclically Adjusted PS Ratio for today is 0.72.

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

TPE:2397' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.65   Med: 1.1   Max: 2.88
Current: 0.67

During the past years, DFI's highest Cyclically Adjusted PS Ratio was 2.88. The lowest was 0.65. And the median was 1.10.

TPE:2397's Cyclically Adjusted PS Ratio is ranked better than
67.66% of 1976 companies
in the Hardware industry
Industry Median: 1.37 vs TPE:2397: 0.67

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.

DFI's adjusted revenue per share data for the three months ended in Dec. 2025 was NT$22.624. 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$82.05 for the trailing ten years ended in Dec. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


DFI  (TPE:2397) 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.


DFI Cyclically Adjusted PS Ratio Related Terms


DFI Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for DFI'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.

DFI Cyclically Adjusted PS Ratio Chart

DFI 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 1.25 0.99 1.00 1.00 0.74

DFI 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 1.00 0.92 0.75 0.85 0.74

TPE:2397 vs SNDK, DELL, STX: Cyclically Adjusted PS Ratio Comparison

For the Computer Hardware subindustry, DFI'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.


DFI Cyclically Adjusted PS Ratio vs Hardware Industry

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

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


TPE:2397
76GF Score
DFI Inc TPE:2397
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

DFI 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.

DFI's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=59.20/82.05
=0.72

* 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.

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

For example, DFI'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)
=22.624/324.0540*324.0540
=22.624

Current CPI (Dec. 2025) = 324.0540.

DFI Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201603 8.321 238.132 11.323
201606 8.811 241.018 11.847
201609 8.125 241.428 10.906
201612 7.734 241.432 10.381
201703 7.964 243.801 10.586
201706 8.685 244.955 11.489
201709 8.635 246.819 11.337
201712 7.024 246.524 9.233
201803 10.045 249.554 13.044
201806 12.324 251.989 15.848
201809 11.965 252.439 15.359
201812 10.755 251.233 13.872
201903 12.517 254.202 15.957
201906 15.186 256.143 19.212
201909 13.937 256.759 17.590
201912 19.402 256.974 24.467
202003 18.848 258.115 23.663
202006 17.937 257.797 22.547
202009 17.852 260.280 22.226
202012 18.147 260.474 22.577
202103 17.447 264.877 21.345
202106 28.775 271.696 34.320
202109 32.679 274.310 38.605
202112 36.437 278.802 42.351
202203 33.715 287.504 38.001
202206 33.513 296.311 36.651
202209 35.618 296.808 38.888
202212 -7.432 296.797 -8.115
202303 22.129 301.836 23.758
202306 20.590 305.109 21.868
202309 18.288 307.789 19.254
202312 18.912 306.746 19.979
202403 16.584 312.332 17.206
202406 19.035 314.175 19.634
202409 21.947 315.301 22.556
202412 24.997 315.605 25.666
202503 22.618 319.799 22.919
202506 25.124 322.561 25.240
202509 24.312 324.800 24.256
202512 22.624 324.054 22.624

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 0.72 mean?
DFI (TPE:2397) has a Cyclically Adjusted PS Ratio of 0.72 as of Jul. 25, 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 DFI and its competitors. This is 35% below median its historical median of 1.10. Over the past decade, DFI's Cyclically Adjusted PS Ratio has ranged from 0.65 to 2.88. According to the industry distribution chart, DFI ranks #639 out of 1976 companies in the Hardware industry, placing it in the top 32.3%.
Is DFI's Cyclically Adjusted PS Ratio too high?
DFI's current Cyclically Adjusted PS Ratio of 0.72 is 35% below median its 10-year median of 1.10. Over the past 10 years, this metric has ranged from a low of 0.65 to a high of 2.88. The Hardware industry median Cyclically Adjusted PS Ratio is 1.37. DFI's value of 0.72 is 47.4% below this industry median. Based on the distribution chart, DFI ranks #639 out of 1976 companies in the Hardware industry, which is above the industry midpoint. Overall, DFI has a GF Score™ of 76/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does DFI's Cyclically Adjusted PS Ratio compare to SNDK and DELL?
According to the Hardware industry distribution chart, DFI ranks #639 out of 1976 companies for Cyclically Adjusted PS Ratio. This puts DFI in the upper half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.37. DFI's value of 0.72 is 47.4% below this benchmark. Historically, DFI's own Cyclically Adjusted PS Ratio has ranged from 0.65 to 2.88 over the past decade. While the company's 10-year median is 1.10 vs. the industry median of 1.37, DFI 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 1.37, based on 1,976 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. DFI's current Cyclically Adjusted PS Ratio of 0.72 is 47.4% 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 DFI and its competitors. For the Hardware industry, the median Cyclically Adjusted PS Ratio is 1.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. DFI's current Cyclically Adjusted PS Ratio is 0.72, which is 35% below median its own 10-year median of 1.10. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is DFI stock overvalued right now?
Based on GuruFocus' analysis, DFI (TPE:2397) is currently considered Modestly Undervalued. The stock's GF Value™ is NT$83.75, compared to a current price of NT$59.20 — trading 29.3% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.72, which is 35% below median its 10-year median of 1.10 and 47.4% below the Hardware industry median of 1.37. DFI's overall GF Score™ is 76/100 with 3 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 DFI (TPE:2397), the current Cyclically Adjusted PS Ratio is 0.72 as of Jul. 25, 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 DFI (TPE:2397) Overvalued in 2026?

Based on GuruFocus' analysis, DFI stock appears to be undervalued. The current stock price of NT$59.20 is trading 29.3% below its estimated GF Value™ of NT$83.75. GuruFocus considers DFI to be Modestly Undervalued.

Key valuation signals for TPE:2397:

  • Cyclically Adjusted PS Ratio: 0.72 (35% below median its 10-year median of 1.10)
  • GF Value™: NT$83.75 vs. price of NT$59.20 (29.3% below fair value)
  • GF Score™: 76/100 with 3 warning signs
  • Industry Position: 47.4% below the Hardware median (#639 of 1976)

No single metric tells the full story. See the TPE:2397 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


DFI Business Description

Address No. 97, Section 1, Xintai 5th Road, 10th Floor, Xizhi District, New Taipei, TWN, 22175
DFI Inc is engaged in the manufacturing and sales of boards and computer components for industrial computers. The company designs and innovates quality management systems, DFI's industrial-grade solutions enable customers to optimize their equipment and ensure reliability, long-term life cycle, and all-time durability in a breadth of markets including Industry Automation, Medical, Gaming, Transportation, Energy, mission-critical, and intelligent retail.
76GF Score

Get the complete analysis for TPE:2397

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

NT$59.20
Price
NT$83.75
GF Value