Pinetree Capital (TSX:PNP) Cyclically Adjusted PS Ratio: (As of Jul. 27, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:PNP Pinetree Capital Ltd TSX:PNP
47 GF Score
Price C$8.95
GF Value C$0.27
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Pinetree Capital Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Pinetree Capital  (TSX:PNP) 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.


Pinetree Capital Cyclically Adjusted PS Ratio Related Terms


Pinetree Capital Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Pinetree Capital'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.

Pinetree Capital Cyclically Adjusted PS Ratio Chart

Pinetree Capital 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 0.00 0.00 0.00 0.00 0.00

Pinetree Capital 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 0.00 0.00 0.00 0.00 0.00

TSX:PNP vs BLK, BX, KKR: Cyclically Adjusted PS Ratio Comparison

For the Asset Management subindustry, Pinetree Capital'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.


Pinetree Capital Cyclically Adjusted PS Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Pinetree Capital's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSX:PNP
47GF Score
Pinetree Capital Ltd TSX:PNP
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pinetree Capital 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.

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

For example, Pinetree Capital'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)
=-0.043/132.2623*132.2623
=-0.043

Current CPI (Mar. 2026) = 132.2623.

Pinetree Capital Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 -4.780 102.002 -6.198
201609 -0.244 101.765 -0.317
201612 -0.217 101.449 -0.283
201703 -0.104 102.634 -0.134
201706 -0.229 103.029 -0.294
201709 0.048 103.345 0.061
201712 -0.074 103.345 -0.095
201803 0.096 105.004 0.121
201806 0.075 105.557 0.094
201809 -0.494 105.636 -0.619
201812 -0.057 105.399 -0.072
201903 0.253 106.979 0.313
201906 0.074 107.690 0.091
201909 0.005 107.611 0.006
201912 0.154 107.769 0.189
202003 -0.456 107.927 -0.559
202006 0.000 108.401 0.000
202009 0.134 108.164 0.164
202012 0.556 108.559 0.677
202103 0.485 110.298 0.582
202106 0.070 111.720 0.083
202109 -0.062 112.905 -0.073
202112 0.014 113.774 0.016
202203 -0.261 117.646 -0.293
202206 0.220 120.806 0.241
202209 -0.092 120.648 -0.101
202212 0.355 120.964 0.388
202303 -0.032 122.702 -0.034
202306 0.354 124.203 0.377
202309 -0.056 125.230 -0.059
202312 0.439 125.072 0.464
202403 1.203 126.258 1.260
202406 -0.086 127.522 -0.089
202409 0.532 127.285 0.553
202412 1.897 127.364 1.970
202503 0.860 129.181 0.881
202506 -0.098 129.892 -0.100
202509 0.255 130.287 0.259
202512 -0.070 130.366 -0.071
202603 -0.043 132.262 -0.043

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 Pinetree Capital (TSX:PNP) Overvalued in 2026?

Based on GuruFocus' analysis, Pinetree Capital stock appears to be overvalued. The current stock price of C$8.95 is trading 3214.8% above its estimated GF Value™ of C$0.27. GuruFocus considers Pinetree Capital to be Significantly Overvalued.

Key valuation signals for TSX:PNP:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: C$0.27 vs. price of C$8.95 (3214.8% above fair value)
  • GF Score™: 47/100 with 3 warning signs

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


Pinetree Capital Business Description

Other Exchanges PNPFF:USAPI1:Germany
Address 49 Leuty Avenue, Toronto, ON, CAN, M4E 2R2
Pinetree Capital Ltd is a value-oriented investment company focused on enterprise software and technology. The Company operates mainly in Canada.
47GF Score

Get the complete analysis for TSX:PNP

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

C$8.95
Price
C$0.27
GF Value