Pandora AS (WBO:PNDO) Cyclically Adjusted PS Ratio: (As of Aug. 09, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:PNDO Pandora AS WBO:PNDO
61 GF Score
Price €106.45
GF Value €159.81
Valuation Significantly Undervalued
! 2 Warning Signs
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What is Pandora AS Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Pandora AS  (WBO:PNDO) 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.


Pandora AS Cyclically Adjusted PS Ratio Related Terms


Pandora AS Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Pandora AS'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.

Pandora AS Cyclically Adjusted PS Ratio Chart

Pandora AS 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 4.84 2.37 4.03 5.00 2.41

Pandora AS 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 3.87 3.99 2.91 2.41 1.52

WBO:PNDO vs TPR, SIG: Cyclically Adjusted PS Ratio Comparison

For the Luxury Goods subindustry, Pandora AS'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.


Pandora AS Cyclically Adjusted PS Ratio vs Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Pandora AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


WBO:PNDO
61GF Score
Pandora AS WBO:PNDO
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Pandora AS 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.

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

For example, Pandora AS'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)
=12.722/121.6800*121.6800
=12.722

Current CPI (Mar. 2026) = 121.6800.

Pandora AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 5.049 100.600 6.107
201609 5.419 100.200 6.581
201612 7.850 100.300 9.523
201703 6.166 101.200 7.414
201706 5.805 101.200 6.980
201709 6.283 101.800 7.510
201712 9.267 101.300 11.131
201803 6.222 101.700 7.444
201806 5.947 102.300 7.074
201809 6.249 102.400 7.426
201812 10.190 102.100 12.144
201903 6.379 102.900 7.543
201906 6.329 102.900 7.484
201909 5.467 102.900 6.465
201912 11.130 102.900 13.161
202003 6.977 103.300 8.218
202006 4.628 103.200 5.457
202009 5.743 103.500 6.752
202012 10.430 103.400 12.274
202103 6.069 104.300 7.080
202106 6.918 105.000 8.017
202109 6.408 105.800 7.370
202112 12.212 106.600 13.940
202203 7.996 109.900 8.853
202206 7.972 113.600 8.539
202209 7.515 116.400 7.856
202212 14.324 115.900 15.038
202303 8.841 117.300 9.171
202306 8.954 116.400 9.360
202309 8.669 117.400 8.985
202312 17.216 116.700 17.951
202403 11.207 118.400 11.517
202406 11.014 118.500 11.310
202409 10.042 118.900 10.277
202412 19.865 118.900 20.329
202503 12.525 120.200 12.679
202506 12.165 120.700 12.264
202509 10.821 121.600 10.828
202512 20.572 121.200 20.653
202603 12.722 121.680 12.722

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 Pandora AS (WBO:PNDO) Overvalued in 2026?

Based on GuruFocus' analysis, Pandora AS stock appears to be undervalued. The current stock price of €106.45 is trading 33.4% below its estimated GF Value™ of €159.81. GuruFocus considers Pandora AS to be Significantly Undervalued.

Key valuation signals for WBO:PNDO:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €159.81 vs. price of €106.45 (33.4% below fair value)
  • GF Score™: 61/100 with 2 warning signs

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


Pandora AS Business Description

Address Havneholmen 17-19, Copenhagen, DNK, DK-1561
Pandora is a premium jewelry brand and the market leader in the charm bracelet category. The company was established in the 1980s in Denmark and since then has expanded globally. Pandora has over 2,700 concept stores globally (2,000 owned and operated, and the remainder run by its franchise partners) as well as multibrand locations and stores-in-stores. Pandora owned retail accounts for over 80% and wholesale for the remainder. Charms and bracelets account for almost three-fourths of its sales. The firm produces mostly internally in two jewelry-crafting facilities in Thailand.
61GF Score

Get the complete analysis for WBO:PNDO

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

€106.45
Price
€159.81
GF Value