Heineken Malaysia Bhd (XKLS:3255) Cyclically Adjusted PS Ratio: (As of Aug. 11, 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.

XKLS:3255 Heineken Malaysia Bhd XKLS:3255
81 GF Score
Price RM16.86
GF Value RM22.08
Valuation Modestly Undervalued
! 2 Warning Signs
View Full Analysis

What is Heineken Malaysia Bhd Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Heineken Malaysia Bhd  (XKLS:3255) 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.


Heineken Malaysia Bhd Cyclically Adjusted PS Ratio Related Terms


Heineken Malaysia Bhd Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Heineken Malaysia Bhd'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.

Heineken Malaysia Bhd Cyclically Adjusted PS Ratio Chart

Heineken Malaysia Bhd Annual Data
Trend Jun15 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 3.01 3.31 3.01 2.85 2.60

Heineken Malaysia Bhd 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 2.91 2.43 2.60 2.50 0.00

XKLS:3255 vs STZ, TAP: Cyclically Adjusted PS Ratio Comparison

For the Beverages - Brewers subindustry, Heineken Malaysia Bhd'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.


Heineken Malaysia Bhd Cyclically Adjusted PS Ratio vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Heineken Malaysia Bhd's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


XKLS:3255
81GF Score
Heineken Malaysia Bhd XKLS:3255
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Heineken Malaysia Bhd 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.

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

For example, Heineken Malaysia Bhd'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)
=1.439/333.9520*333.9520
=1.439

Current CPI (Jun. 2026) = 333.9520.

Heineken Malaysia Bhd Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201603 1.519 238.132 2.130
201609 1.274 241.428 1.762
201703 1.300 243.801 1.781
201706 1.312 244.955 1.789
201709 1.687 246.819 2.283
201712 2.028 246.524 2.747
201803 1.436 249.554 1.922
201806 1.395 251.989 1.849
201809 1.695 252.439 2.242
201812 2.192 251.233 2.914
201903 1.738 254.202 2.283
201906 1.697 256.143 2.213
201909 1.994 256.759 2.593
201912 2.251 256.974 2.925
202003 1.708 258.115 2.210
202006 0.840 257.797 1.088
202009 1.568 260.280 2.012
202012 1.718 260.474 2.203
202103 1.813 264.877 2.286
202106 1.157 271.696 1.422
202109 1.291 274.310 1.572
202112 2.291 278.802 2.744
202203 2.312 287.504 2.686
202206 2.134 296.311 2.405
202209 2.385 296.808 2.683
202212 2.621 296.797 2.949
202303 2.450 301.836 2.711
202306 1.884 305.109 2.062
202309 1.985 307.789 2.154
202312 2.412 306.746 2.626
202403 2.612 312.332 2.793
202406 1.872 314.175 1.990
202409 2.049 315.301 2.170
202412 2.725 315.605 2.883
202503 2.528 319.799 2.640
202506 1.787 322.561 1.850
202509 2.172 324.800 2.233
202512 2.777 324.054 2.862
202603 2.199 330.213 2.224
202606 1.439 333.952 1.439

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 Heineken Malaysia Bhd (XKLS:3255) Overvalued in 2026?

Based on GuruFocus' analysis, Heineken Malaysia Bhd stock appears to be undervalued. The current stock price of RM16.86 is trading 23.6% below its estimated GF Value™ of RM22.08. GuruFocus considers Heineken Malaysia Bhd to be Modestly Undervalued.

Key valuation signals for XKLS:3255:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: RM22.08 vs. price of RM16.86 (23.6% below fair value)
  • GF Score™: 81/100 with 2 warning signs

No single metric tells the full story. See the XKLS:3255 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Heineken Malaysia Bhd Business Description

Address Batu 9, Jalan Klang Lama, Sungei Way Brewery, Lot 1135, Selangor Darul Ehsan, Petaling Jaya, SGR, MYS, 46000
Heineken Malaysia Bhd is engaged in the production, packaging, marketing, and distribution of beverages, mainly alcoholic. The portfolio of the company includes various brands such as The World-acclaimed iconic Asian beer - Tiger Beer, The crystal-cold filtered beer - Tiger Crystal, The New Zealand-inspired cider - Apple Fox Cider, Edelweiss, infused with juicy peach flavour, The premium Irish ale - Kilkenny, The real shandy - Anglia, and others.
81GF Score

Get the complete analysis for XKLS:3255

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

RM16.86
Price
RM22.08
GF Value