Azimut Holding SpA (WBO:AZM) Cyclically Adjusted PS Ratio: (As of Sep. 22, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
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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.
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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.

WBO:AZM Azimut Holding SpA WBO:AZM
87 GF Score
Price €39.69
GF Value €29.75
Valuation Significantly Overvalued
! 6 Warning Signs
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What is Azimut Holding SpA Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Azimut Holding SpA  (WBO:AZM) 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.


Azimut Holding SpA Cyclically Adjusted PS Ratio Related Terms


Azimut Holding SpA Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Azimut Holding SpA'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.

Azimut Holding SpA Cyclically Adjusted PS Ratio Chart

Azimut Holding SpA 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 3.74 2.68 2.84 2.74 3.86

Azimut Holding SpA 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 3.32 3.91 4.24 3.72 3.96

WBO:AZM vs BLK, BX, KKR: Cyclically Adjusted PS Ratio Comparison

For the Asset Management subindustry, Azimut Holding SpA'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.


Azimut Holding SpA Cyclically Adjusted PS Ratio vs Asset Management Industry

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

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


WBO:AZM
87GF Score
Azimut Holding SpA WBO:AZM
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Azimut Holding SpA 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.

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

For example, Azimut Holding SpA'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)
=2.768/126.4000*126.4000
=2.768

Current CPI (Jun. 2026) = 126.4000.

Azimut Holding SpA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.460 100.100 1.844
201612 1.367 100.300 1.723
201703 1.448 101.000 1.812
201706 1.298 101.100 1.623
201709 1.188 101.200 1.484
201712 1.463 101.200 1.827
201803 1.225 101.800 1.521
201806 1.322 102.400 1.632
201809 1.266 102.600 1.560
201812 1.316 102.300 1.626
201903 1.550 102.800 1.906
201906 1.517 103.100 1.860
201909 1.521 102.900 1.868
201912 2.062 102.800 2.535
202003 1.441 102.900 1.770
202006 1.524 102.900 1.872
202009 1.545 102.300 1.909
202012 2.110 102.600 2.599
202103 1.658 103.700 2.021
202106 1.865 104.200 2.262
202109 1.910 104.900 2.301
202112 3.898 106.600 4.622
202203 2.219 110.400 2.541
202206 2.297 112.500 2.581
202209 2.143 114.200 2.372
202212 2.202 119.000 2.339
202303 2.365 118.800 2.516
202306 2.408 119.700 2.543
202309 2.383 120.300 2.504
202312 2.527 119.700 2.668
202403 2.304 120.200 2.423
202406 2.318 120.700 2.427
202409 2.283 121.200 2.381
202412 2.016 121.200 2.102
202503 2.326 122.500 2.400
202506 2.350 122.700 2.421
202509 2.638 123.100 2.709
202512 2.757 122.600 2.842
202603 2.655 124.560 2.694
202606 2.768 126.400 2.768

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 Azimut Holding SpA (WBO:AZM) Overvalued in 2026?

Based on GuruFocus' analysis, Azimut Holding SpA stock appears to be overvalued. The current stock price of €39.69 is trading 33.4% above its estimated GF Value™ of €29.75. GuruFocus considers Azimut Holding SpA to be Significantly Overvalued.

Key valuation signals for WBO:AZM:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €29.75 vs. price of €39.69 (33.4% above fair value)
  • GF Score™: 87/100 with 6 warning signs

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


Azimut Holding SpA Business Description

Address Via Cusani 4, Milan, ITA, 20121
Azimut Holding SpA is a large independent asset management firm operating primarily in Italy but with an increasingly global presence. In Italy, its capital management division sells and manages Italian mutual funds, Italian hedge funds, and is active in the discretionary management of individual investment portfolios. Its international business operations involve the sale, management, and distribution of financial and insurance products. Its portfolio solutions encompass a broad array of strategies that cut across various traditional and alternative asset classes. A majority of its revenue is derived from recurring fees from assets under management.
87GF Score

Get the complete analysis for WBO:AZM

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

€39.69
Price
€29.75
GF Value