Industrial Holding Bulgaria AD (XBUL:IHB) Cyclically Adjusted PS Ratio: 1.16 (As of Aug. 24, 2026) — 54% Below 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.

XBUL:IHB Industrial Holding Bulgaria AD XBUL:IHB
58 GF Score
Price €0.80
GF Value €1.31
Valuation Significantly Undervalued
! 6 Warning Signs
View Full Analysis

What is Industrial Holding Bulgaria AD Cyclically Adjusted PS Ratio?

Industrial Holding Bulgaria AD XBUL:IHB 58 Cyclically Adjusted PS Ratio is 1.16 as of Aug. 24, 2026, which is 54% below its 10-year median of 2.52. GuruFocus rates XBUL:IHB with a GF Score™ of 58/100 and a GF Value™ of €1.31 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 460 Conglomerates companies, Industrial Holding Bulgaria AD ranks worse than 60.87% on this metric.

As of today (2026-08-24), Industrial Holding Bulgaria AD's current share price is €0.80. Industrial Holding Bulgaria AD's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €0.69. Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio for today is 1.16.

The historical rank and industry rank for Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio or its related term are showing as below:

XBUL:IHB' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.15   Med: 2.52   Max: 3.71
Current: 1.15

During the past years, Industrial Holding Bulgaria AD's highest Cyclically Adjusted PS Ratio was 3.71. The lowest was 1.15. And the median was 2.52.

XBUL:IHB's Cyclically Adjusted PS Ratio is ranked worse than
60.87% of 460 companies
in the Conglomerates industry
Industry Median: 0.785 vs XBUL:IHB: 1.15

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.

Industrial Holding Bulgaria AD's adjusted revenue per share data for the three months ended in Mar. 2026 was €0.123. 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 €0.69 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Industrial Holding Bulgaria AD  (XBUL:IHB) 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.


Industrial Holding Bulgaria AD Cyclically Adjusted PS Ratio Related Terms


Industrial Holding Bulgaria AD Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Industrial Holding Bulgaria AD'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.

Industrial Holding Bulgaria AD Cyclically Adjusted PS Ratio Chart

Industrial Holding Bulgaria AD 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 3.33 2.96 2.54 2.56 2.23

Industrial Holding Bulgaria AD 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 2.58 2.43 2.22 2.23 1.15

XBUL:IHB vs MMM, HON: Cyclically Adjusted PS Ratio Comparison

For the Conglomerates subindustry, Industrial Holding Bulgaria AD'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.


Industrial Holding Bulgaria AD Cyclically Adjusted PS Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio falls into.


XBUL:IHB
58GF Score
Industrial Holding Bulgaria AD XBUL:IHB
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Industrial Holding Bulgaria AD 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.

Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=0.80/0.69
=1.16

* 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.

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

For example, Industrial Holding Bulgaria AD'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)
=0.123/330.2130*330.2130
=0.123

Current CPI (Mar. 2026) = 330.2130.

Industrial Holding Bulgaria AD Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201603 0.074 238.132 0.103
201606 0.140 241.018 0.192
201612 0.000 241.432 0.000
201703 0.134 243.801 0.181
201706 0.155 244.955 0.209
201709 0.158 246.819 0.211
201712 0.046 246.524 0.062
201803 0.175 249.554 0.232
201806 0.129 251.989 0.169
201809 0.059 252.439 0.077
201812 0.201 251.233 0.264
201903 0.121 254.202 0.157
201906 0.141 256.143 0.182
201909 0.163 256.759 0.210
201912 0.148 256.974 0.190
202003 0.110 258.115 0.141
202006 0.102 257.797 0.131
202009 0.124 260.280 0.157
202012 0.121 260.474 0.153
202103 0.116 264.877 0.145
202106 0.185 271.696 0.225
202109 0.178 274.310 0.214
202112 0.208 278.802 0.246
202203 0.164 287.504 0.188
202206 0.186 296.311 0.207
202209 0.214 296.808 0.238
202212 0.199 296.797 0.221
202303 0.173 301.836 0.189
202306 0.154 305.109 0.167
202309 0.144 307.789 0.154
202312 0.156 306.746 0.168
202403 0.156 312.332 0.165
202406 0.159 314.175 0.167
202409 0.184 315.301 0.193
202412 0.150 315.605 0.157
202503 0.151 319.799 0.156
202506 0.130 322.561 0.133
202509 0.146 324.800 0.148
202512 0.135 324.054 0.138
202603 0.123 330.213 0.123

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 1.16 mean?
Industrial Holding Bulgaria AD (XBUL:IHB) has a Cyclically Adjusted PS Ratio of 1.16 as of Aug. 24, 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 Industrial Holding Bulgaria AD and its competitors. This is 54% below median its historical median of 2.52. Over the past decade, Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio has ranged from 1.15 to 3.71. According to the industry distribution chart, Industrial Holding Bulgaria AD ranks #280 out of 460 companies in the Conglomerates industry, placing it in the top 60.9%.
Is Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio too high?
Industrial Holding Bulgaria AD's current Cyclically Adjusted PS Ratio of 1.16 is 54% below median its 10-year median of 2.52. Over the past 10 years, this metric has ranged from a low of 1.15 to a high of 3.71. The Conglomerates industry median Cyclically Adjusted PS Ratio is 0.79. Industrial Holding Bulgaria AD's value of 1.16 is 47.8% above this industry median. Based on the distribution chart, Industrial Holding Bulgaria AD ranks #280 out of 460 companies in the Conglomerates industry, which is below the industry midpoint. Overall, Industrial Holding Bulgaria AD has a GF Score™ of 58/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Industrial Holding Bulgaria AD's Cyclically Adjusted PS Ratio compare to MMM and HON?
According to the Conglomerates industry distribution chart, Industrial Holding Bulgaria AD ranks #280 out of 460 companies for Cyclically Adjusted PS Ratio. This places Industrial Holding Bulgaria AD in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.79. Industrial Holding Bulgaria AD's value of 1.16 is 47.8% above this benchmark. Historically, Industrial Holding Bulgaria AD's own Cyclically Adjusted PS Ratio has ranged from 1.15 to 3.71 over the past decade. While the company's 10-year median is 2.52 vs. the industry median of 0.79, Industrial Holding Bulgaria AD 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 a Conglomerates company?
The median Cyclically Adjusted PS Ratio among Conglomerates companies is 0.79, based on 460 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. Industrial Holding Bulgaria AD's current Cyclically Adjusted PS Ratio of 1.16 is 47.8% 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 Industrial Holding Bulgaria AD and its competitors. For the Conglomerates industry, the median Cyclically Adjusted PS Ratio is 0.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Industrial Holding Bulgaria AD's current Cyclically Adjusted PS Ratio is 1.16, which is 54% below median its own 10-year median of 2.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Industrial Holding Bulgaria AD stock overvalued right now?
Based on GuruFocus' analysis, Industrial Holding Bulgaria AD (XBUL:IHB) is currently considered Significantly Undervalued. The stock's GF Value™ is €1.31, compared to a current price of €0.80 — trading 38.9% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 1.16, which is 54% below median its 10-year median of 2.52 and 47.8% above the Conglomerates industry median of 0.79. Industrial Holding Bulgaria AD's overall GF Score™ is 58/100 with 6 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 Industrial Holding Bulgaria AD (XBUL:IHB), the current Cyclically Adjusted PS Ratio is 1.16 as of Aug. 24, 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 Industrial Holding Bulgaria AD (XBUL:IHB) Overvalued in 2026?

Based on GuruFocus' analysis, Industrial Holding Bulgaria AD stock appears to be undervalued. The current stock price of €0.80 is trading 38.9% below its estimated GF Value™ of €1.31. GuruFocus considers Industrial Holding Bulgaria AD to be Significantly Undervalued.

Key valuation signals for XBUL:IHB:

  • Cyclically Adjusted PS Ratio: 1.16 (54% below median its 10-year median of 2.52)
  • GF Value™: €1.31 vs. price of €0.80 (38.9% below fair value)
  • GF Score™: 58/100 with 6 warning signs
  • Industry Position: 47.8% above the Conglomerates median (#280 of 460)

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


Industrial Holding Bulgaria AD Business Description

Address 42 Damyan Gruev Street, Sofia, BGR, 1142
Industrial Holding Bulgaria AD is engaged in acquisition, management, assessment and sale of shares in Bulgarian and foreign companies, acquisition, assessment and sale of patents, cession of licenses to use patents to companies in which the company holds shares, financing of companies in which the company holds shares, as well as any other activity not prohibited by law.
58GF Score

Get the complete analysis for XBUL:IHB

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

€0.80
Price
€1.31
GF Value