Tecnicas Reunidas (WBO:TRE) Cyclically Adjusted PS Ratio: (As of Sep. 20, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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WBO:TRE Tecnicas Reunidas SA WBO:TRE
66 GF Score
Price €26.16
GF Value €22.09
Valuation Modestly Overvalued
! 2 Warning Signs
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What is Tecnicas Reunidas Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Tecnicas Reunidas  (WBO:TRE) 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.


Tecnicas Reunidas Cyclically Adjusted PS Ratio Related Terms


Tecnicas Reunidas Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Tecnicas Reunidas'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.

Tecnicas Reunidas Cyclically Adjusted PS Ratio Chart

Tecnicas Reunidas 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 0.09 0.11 0.11 0.14 0.34

Tecnicas Reunidas 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 0.24 0.33 0.34 0.37 0.35

WBO:TRE vs PWR, FIX, EME: Cyclically Adjusted PS Ratio Comparison

For the Engineering & Construction subindustry, Tecnicas Reunidas'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.


Tecnicas Reunidas Cyclically Adjusted PS Ratio vs Construction Industry

For the Construction industry and Industrials sector, Tecnicas Reunidas's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


WBO:TRE
66GF Score
Tecnicas Reunidas SA WBO:TRE
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Tecnicas Reunidas 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.

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

For example, Tecnicas Reunidas'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)
=18.926/131.3300*131.3300
=18.926

Current CPI (Jun. 2026) = 131.3300.

Tecnicas Reunidas Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201403 12.419 100.139 16.287
201409 13.967 100.441 18.262
201503 14.850 99.474 19.606
201509 18.399 99.559 24.270
201603 17.234 98.638 22.946
201703 23.666 100.896 30.805
201803 19.802 102.122 25.466
201806 18.734 104.165 23.620
201809 16.990 103.818 21.492
201812 19.466 104.193 24.536
201903 15.606 103.488 19.805
201906 22.216 104.612 27.890
201909 20.665 103.905 26.119
201912 21.688 105.015 27.123
202003 20.146 103.469 25.571
202006 15.838 104.254 19.951
202009 11.943 103.521 15.151
202012 12.151 104.456 15.277
202103 13.011 104.857 16.296
202106 11.255 107.102 13.801
202109 11.645 107.669 14.204
202112 12.014 111.298 14.176
202203 13.200 115.153 15.054
202206 15.055 118.044 16.749
202209 19.751 117.221 22.128
202212 24.289 117.650 27.113
202303 19.104 118.948 21.093
202306 15.008 120.278 16.387
202309 13.756 121.343 14.888
202312 11.394 121.300 12.336
202403 12.849 122.762 13.746
202406 13.967 124.409 14.744
202409 14.396 123.121 15.356
202412 15.780 124.753 16.612
202503 16.735 125.531 17.508
202506 18.390 127.251 18.980
202509 23.706 126.840 24.545
202512 23.933 128.400 24.479
202603 20.262 129.860 20.491
202606 18.926 131.330 18.926

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 Tecnicas Reunidas (WBO:TRE) Overvalued in 2026?

Based on GuruFocus' analysis, Tecnicas Reunidas stock appears to be overvalued. The current stock price of €26.16 is trading 18.4% above its estimated GF Value™ of €22.09. GuruFocus considers Tecnicas Reunidas to be Modestly Overvalued.

Key valuation signals for WBO:TRE:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €22.09 vs. price of €26.16 (18.4% above fair value)
  • GF Score™: 66/100 with 2 warning signs

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


Tecnicas Reunidas Business Description

Address Arapiles Street, 14, Madrid, ESP, 28015
Tecnicas Reunidas SA is a general contracting company. It engages in engineering, design and construction of industrial facilities for international customers including principal national oil companies and multinational companies. The firm's majority of business is focused on large turnkey industrial projects and it also offers engineering, management, start-up and operating services for industrial plants. Its business areas are oil and gas, power, infrastructures and industries. The company mainly operates in Spain, Middle East, Latin America, Asia and the Mediterranean region.
66GF Score

Get the complete analysis for WBO:TRE

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

€26.16
Price
€22.09
GF Value