Lundin Gold (TSX:LUG) Cyclically Adjusted PS Ratio: (As of Sep. 20, 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.

TSX:LUG Lundin Gold Inc TSX:LUG
89 GF Score
Price C$91.75
GF Value C$71.74
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Lundin Gold Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Lundin Gold  (TSX:LUG) 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.


Lundin Gold Cyclically Adjusted PS Ratio Related Terms


Lundin Gold Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Lundin Gold'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.

Lundin Gold Cyclically Adjusted PS Ratio Chart

Lundin Gold 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 3.23 3.43 3.82 6.19 18.91

Lundin Gold 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 13.04 15.67 18.85 16.53 12.05

TSX:LUG vs NEM, AU: Cyclically Adjusted PS Ratio Comparison

For the Gold subindustry, Lundin Gold'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.


Lundin Gold Cyclically Adjusted PS Ratio vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Lundin Gold's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSX:LUG
89GF Score
Lundin Gold Inc TSX:LUG
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Lundin Gold 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.

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

For example, Lundin Gold'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)
=2.724/133.5265*133.5265
=2.724

Current CPI (Jun. 2026) = 133.5265.

Lundin Gold Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.000 101.765 0.000
201612 0.000 101.449 0.000
201703 0.000 102.634 0.000
201706 0.000 103.029 0.000
201709 0.000 103.345 0.000
201712 0.000 103.345 0.000
201803 0.000 105.004 0.000
201806 0.000 105.557 0.000
201809 0.000 105.636 0.000
201812 0.000 105.399 0.000
201903 0.000 106.979 0.000
201906 0.000 107.690 0.000
201909 0.000 107.611 0.000
201912 0.000 107.769 0.000
202003 0.221 107.927 0.273
202006 0.081 108.401 0.100
202009 0.679 108.164 0.838
202012 1.072 108.559 1.319
202103 0.759 110.298 0.919
202106 1.133 111.720 1.354
202109 1.022 112.905 1.209
202112 0.999 113.774 1.172
202203 1.163 117.646 1.320
202206 0.958 120.806 1.059
202209 1.160 120.648 1.284
202212 1.217 120.964 1.343
202303 1.458 122.702 1.587
202306 1.370 124.203 1.473
202309 1.182 125.230 1.260
202312 1.083 125.072 1.156
202403 1.274 126.258 1.347
202406 1.711 127.522 1.792
202409 1.822 127.285 1.911
202412 1.972 127.364 2.067
202503 2.113 129.181 2.184
202506 2.586 129.892 2.658
202509 2.537 130.287 2.600
202512 3.024 130.366 3.097
202603 3.205 132.262 3.236
202606 2.724 133.527 2.724

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 Lundin Gold (TSX:LUG) Overvalued in 2026?

Based on GuruFocus' analysis, Lundin Gold stock appears to be overvalued. The current stock price of C$91.75 is trading 27.9% above its estimated GF Value™ of C$71.74. GuruFocus considers Lundin Gold to be Modestly Overvalued.

Key valuation signals for TSX:LUG:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: C$71.74 vs. price of C$91.75 (27.9% above fair value)
  • GF Score™: 89/100 with 2 warning signs

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


Lundin Gold Business Description

Address 1055 Dunsmuir Street, Suite 2800, Four Bentall Centre, Po Box 49225, Vancouver, BC, CAN, V7X 1L2
Lundin Gold Inc is a Canada based company focused on its Fruta del Norte gold operation and developing its portfolio of mineral concessions in Ecuador. The Fruta del Norte deposit is located within long copper-gold metallogenic sub-province located in the Cordillera del Condor region in southeastern Ecuador. The company[s primary business activity is the Fruta del Norte operating mine in Ecuador which derives majority of its revenues.
89GF Score

Get the complete analysis for TSX:LUG

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

C$91.75
Price
C$71.74
GF Value