Suncor Energy (TSX:SU) Cyclically Adjusted PS Ratio: 2.39 (As of Aug. 07, 2026) — 44% 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.

TSX:SU Suncor Energy Inc TSX:SU
74 GF Score
Price C$86.04
GF Value C$65.24
Valuation Significantly Overvalued
! 4 Warning Signs
View Full Analysis

What is Suncor Energy Cyclically Adjusted PS Ratio?

Suncor Energy TSX:SU -2.36% 74 Cyclically Adjusted PS Ratio is 2.39 as of Aug. 07, 2026, which is 44% above its 10-year median of 1.66. GuruFocus rates TSX:SU with a GF Score™ of 74/100 and a GF Value™ of C$65.24 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 713 Oil & Gas companies, Suncor Energy ranks worse than 72.79% on this metric.

As of today (2026-08-07), Suncor Energy's current share price is C$86.04. Suncor Energy's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was C$36.03. Suncor Energy's Cyclically Adjusted PS Ratio for today is 2.39.

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

TSX:SU' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.62   Med: 1.66   Max: 2.78
Current: 2.39

During the past years, Suncor Energy's highest Cyclically Adjusted PS Ratio was 2.78. The lowest was 0.62. And the median was 1.66.

TSX:SU's Cyclically Adjusted PS Ratio is ranked worse than
72.79% of 713 companies
in the Oil & Gas industry
Industry Median: 1.04 vs TSX:SU: 2.39

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.

Suncor Energy's adjusted revenue per share data for the three months ended in Jun. 2026 was C$16.123. 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 C$36.03 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Suncor Energy  (TSX:SU) 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.


Suncor Energy Cyclically Adjusted PS Ratio Related Terms


Suncor Energy Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Suncor Energy'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.

Suncor Energy Cyclically Adjusted PS Ratio Chart

Suncor Energy 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 1.27 1.54 1.44 1.66 1.83

Suncor Energy 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 1.58 1.78 1.83 2.66 2.12

TSX:SU vs XOM, CVX: Cyclically Adjusted PS Ratio Comparison

For the Oil & Gas Integrated subindustry, Suncor Energy'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.


Suncor Energy Cyclically Adjusted PS Ratio vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Suncor Energy's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


TSX:SU
74GF Score
Suncor Energy Inc TSX:SU
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Suncor Energy 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.

Suncor Energy's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=86.04/36.03
=2.39

* 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.

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

For example, Suncor Energy'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)
=16.123/133.5265*133.5265
=16.123

Current CPI (Jun. 2026) = 133.5265.

Suncor Energy Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 4.447 101.765 5.835
201612 4.681 101.449 6.161
201703 4.655 102.634 6.056
201706 4.325 103.029 5.605
201709 4.791 103.345 6.190
201712 5.428 103.345 7.013
201803 5.357 105.004 6.812
201806 6.293 105.557 7.960
201809 6.663 105.636 8.422
201812 5.344 105.399 6.770
201903 5.678 106.979 7.087
201906 6.406 107.690 7.943
201909 6.308 107.611 7.827
201912 6.168 107.769 7.642
202003 4.834 107.927 5.981
202006 2.773 108.401 3.416
202009 4.214 108.164 5.202
202012 4.335 108.559 5.332
202103 5.702 110.298 6.903
202106 6.094 111.720 7.283
202109 6.869 112.905 8.124
202112 7.673 113.774 9.005
202203 10.083 117.646 11.444
202206 12.635 120.806 13.965
202209 11.617 120.648 12.857
202212 10.945 120.964 12.082
202303 9.220 122.702 10.033
202306 9.492 124.203 10.205
202309 10.684 125.230 11.392
202312 10.493 125.072 11.202
202403 10.314 126.258 10.908
202406 10.906 127.522 11.420
202409 10.940 127.285 11.476
202412 10.856 127.364 11.381
202503 10.750 129.181 11.112
202506 10.399 129.892 10.690
202509 11.192 130.287 11.470
202512 10.593 130.366 10.850
202603 12.971 132.262 13.095
202606 16.123 133.527 16.123

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 2.39 mean?
Suncor Energy (TSX:SU) has a Cyclically Adjusted PS Ratio of 2.39 as of Aug. 07, 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 Suncor Energy and its competitors. This is 44% above median its historical median of 1.66. Over the past decade, Suncor Energy's Cyclically Adjusted PS Ratio has ranged from 0.62 to 2.78. According to the industry distribution chart, Suncor Energy ranks #519 out of 713 companies in the Oil & Gas industry, placing it in the top 72.8%.
Is Suncor Energy's Cyclically Adjusted PS Ratio too high?
Suncor Energy's current Cyclically Adjusted PS Ratio of 2.39 is 44% above median its 10-year median of 1.66. Over the past 10 years, this metric has ranged from a low of 0.62 to a high of 2.78. The Oil & Gas industry median Cyclically Adjusted PS Ratio is 1.04. Suncor Energy's value of 2.39 is 129.8% above this industry median. Based on the distribution chart, Suncor Energy ranks #519 out of 713 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Suncor Energy has a GF Score™ of 74/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Suncor Energy's Cyclically Adjusted PS Ratio compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Suncor Energy ranks #519 out of 713 companies for Cyclically Adjusted PS Ratio. This places Suncor Energy in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 1.04. Suncor Energy's value of 2.39 is 129.8% above this benchmark. Historically, Suncor Energy's own Cyclically Adjusted PS Ratio has ranged from 0.62 to 2.78 over the past decade. While the company's 10-year median is 1.66 vs. the industry median of 1.04, Suncor Energy has consistently been above 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 an Oil & Gas company?
The median Cyclically Adjusted PS Ratio among Oil & Gas companies is 1.04, based on 713 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. Suncor Energy's current Cyclically Adjusted PS Ratio of 2.39 is 129.8% above 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 Suncor Energy and its competitors. For the Oil & Gas industry, the median Cyclically Adjusted PS Ratio is 1.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Suncor Energy's current Cyclically Adjusted PS Ratio is 2.39, which is 44% above median its own 10-year median of 1.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Suncor Energy stock overvalued right now?
Based on GuruFocus' analysis, Suncor Energy (TSX:SU) is currently considered Significantly Overvalued. The stock's GF Value™ is C$65.24, compared to a current price of C$86.04 — trading 31.9% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 2.39, which is 44% above median its 10-year median of 1.66 and 129.8% above the Oil & Gas industry median of 1.04. Suncor Energy's overall GF Score™ is 74/100 with 4 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 Suncor Energy (TSX:SU), the current Cyclically Adjusted PS Ratio is 2.39 as of Aug. 07, 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 Suncor Energy (TSX:SU) Overvalued in 2026?

Based on GuruFocus' analysis, Suncor Energy stock appears to be overvalued. The current stock price of C$86.04 is trading 31.9% above its estimated GF Value™ of C$65.24. GuruFocus considers Suncor Energy to be Significantly Overvalued.

Key valuation signals for TSX:SU:

  • Cyclically Adjusted PS Ratio: 2.39 (44% above median its 10-year median of 1.66)
  • GF Value™: C$65.24 vs. price of C$86.04 (31.9% above fair value)
  • GF Score™: 74/100 with 4 warning signs
  • Industry Position: 129.8% above the Oil & Gas median (#519 of 713)

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


Suncor Energy Business Description

Industry EnergyOil & Gas
Address 150 - 6th Avenue S.W., P.O. Box 2844, Calgary, AB, CAN, T2P 3E3
Suncor Energy Inc is an integrated energy company. The company's operations span the full energy value chain, including oil sands mining and in situ operations, upgrading, offshore production, petroleum refining in Canada and the U.S., marketing and trading, and nationwide PetroCanada retail and wholesale networks delivering reliable energy that fuels economic growth and meets the needs of customers across Canada and globally. It also conducts energy trading activities focused principally on the marketing and trading of crude oil, natural gas, byproducts, refined products, & power. The company's operating segments include Oil Sands, Exploration & Production, Refining & Marketing (R&M), & Corporate & eliminations. Geographically, the company generates a majority of its revenue from Canada.
74GF Score

Get the complete analysis for TSX:SU

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

C$86.04
Price
C$65.24
GF Value