BeLeaf (WAR:BLF) Cyclically Adjusted PS Ratio: (As of Jul. 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.

WAR:BLF BeLeaf SA WAR:BLF
35 GF Score
Price zł2.30
GF Value zł8.22
Valuation Possible Value Trap
! 7 Warning Signs
View Full Analysis

What is BeLeaf Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


BeLeaf  (WAR:BLF) 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.


BeLeaf Cyclically Adjusted PS Ratio Related Terms


BeLeaf Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for BeLeaf'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.

BeLeaf Cyclically Adjusted PS Ratio Chart

BeLeaf 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 3.18 9.33 0.00 5.38 4.74

BeLeaf 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 3.91 4.49 4.31 4.74 0.00

WAR:BLF vs CTAS, CPRT, ULS: Cyclically Adjusted PS Ratio Comparison

For the Specialty Business Services subindustry, BeLeaf'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.


BeLeaf Cyclically Adjusted PS Ratio vs Business Services Industry

For the Business Services industry and Industrials sector, BeLeaf's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


WAR:BLF
35GF Score
BeLeaf SA WAR:BLF
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BeLeaf 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.

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

For example, BeLeaf'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)
=0/163.0700*163.0700
=0.000

Current CPI (Mar. 2026) = 163.0700.

BeLeaf Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.266 99.552 0.436
201609 0.201 99.064 0.331
201612 0.179 100.366 0.291
201703 0.194 101.018 0.313
201706 0.209 101.180 0.337
201709 0.139 101.343 0.224
201712 0.144 102.564 0.229
201803 0.187 102.564 0.297
201806 0.151 103.378 0.238
201809 0.159 103.378 0.251
201812 0.179 103.785 0.281
201903 0.195 104.274 0.305
201906 0.301 105.983 0.463
201909 0.139 105.983 0.214
201912 0.165 107.123 0.251
202003 0.161 109.076 0.241
202006 0.168 109.402 0.250
202009 0.141 109.320 0.210
202012 0.139 109.565 0.207
202103 0.195 112.658 0.282
202106 0.141 113.960 0.202
202109 0.144 115.588 0.203
202112 0.157 119.088 0.215
202203 0.145 125.031 0.189
202206 0.119 131.705 0.147
202209 0.105 135.531 0.126
202212 0.177 139.113 0.207
202303 0.000 145.950 0.000
202306 0.000 147.009 0.000
202309 0.000 146.113 0.000
202312 0.000 147.741 0.000
202403 0.000 149.044 0.000
202406 0.019 150.997 0.021
202409 0.001 153.439 0.001
202412 0.001 154.660 0.001
202503 0.001 157.021 0.001
202506 0.001 157.509 0.001
202509 0.001 158.000 0.001
202512 0.044 158.320 0.045
202603 0.000 163.070 0.000

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 BeLeaf (WAR:BLF) Overvalued in 2026?

Based on GuruFocus' analysis, BeLeaf stock appears to be undervalued. The current stock price of zł2.30 is trading 72% below its estimated GF Value™ of zł8.22. GuruFocus considers BeLeaf to be Possible Value Trap.

Key valuation signals for WAR:BLF:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: zł8.22 vs. price of zł2.30 (72% below fair value)
  • GF Score™: 35/100 with 7 warning signs

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


BeLeaf Business Description

Address Opatkowicka 10A/9, Krakow, POL, 30-499
BeLeaf SA Formerly Blue Tax Group SA operates in the outsourcing market of financial and accounting services. Its services include tax, economic, legal and financial consultancy. The company provides consulting services for the preparation of applications and securing European union funds for businesses of various sizes. It also offers a package of comprehensive consultancy services, necessary for business owners.
35GF Score

Get the complete analysis for WAR:BLF

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

zł2.30
Price
zł8.22
GF Value