icapital biz Bhd (XKLS:5108) 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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XKLS:5108 icapital biz Bhd XKLS:5108
54 GF Score
Price RM2.51
GF Value RM4.66
Valuation Significantly Undervalued
! 3 Warning Signs
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What is icapital biz Bhd Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


icapital biz Bhd  (XKLS:5108) 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.


icapital biz Bhd Cyclically Adjusted PS Ratio Related Terms


icapital biz Bhd Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for icapital biz 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.

icapital biz Bhd Cyclically Adjusted PS Ratio Chart

icapital biz Bhd Annual Data
Trend May17 May18 May19 May20 May21 May22 May23 May24 May25 May26
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.65 12.28 14.44 18.67 24.91

icapital biz Bhd Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 18.53 19.85 19.56 24.95 24.67

XKLS:5108 vs BLK, BX, KKR: Cyclically Adjusted PS Ratio Comparison

For the Asset Management subindustry, icapital biz 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.


icapital biz Bhd Cyclically Adjusted PS Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, icapital biz Bhd's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


XKLS:5108
54GF Score
icapital biz Bhd XKLS:5108
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

icapital biz 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.

icapital biz Bhd's Cyclically Adjusted Revenue per Share for the quarter that ended in May. 2026 is calculated as:

For example, icapital biz Bhd's adjusted Revenue per Share data for the three months ended in May. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=0.03/335.1230*335.1230
=0.030

Current CPI (May. 2026) = 335.1230.

icapital biz Bhd Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201608 0.029 240.849 0.040
201611 0.011 241.353 0.015
201702 0.030 243.603 0.041
201705 0.025 244.733 0.034
201708 0.034 245.519 0.046
201711 0.024 246.669 0.033
201802 0.030 248.991 0.040
201805 0.028 251.588 0.037
201808 0.032 252.146 0.043
201811 0.025 252.038 0.033
201902 0.024 252.776 0.032
201905 0.024 256.092 0.031
201908 0.033 256.558 0.043
201911 0.021 257.208 0.027
202002 0.021 258.678 0.027
202005 0.016 256.394 0.021
202008 0.020 259.918 0.026
202011 0.008 260.229 0.010
202102 0.008 263.014 0.010
202105 0.010 269.195 0.012
202108 0.017 273.567 0.021
202111 0.007 277.948 0.008
202202 0.011 283.716 0.013
202205 0.016 292.296 0.018
202208 0.023 296.171 0.026
202211 0.014 297.711 0.016
202302 0.018 300.840 0.020
202305 0.026 304.127 0.029
202308 0.021 307.026 0.023
202311 0.025 307.051 0.027
202402 0.017 310.326 0.018
202405 0.042 314.069 0.045
202408 0.022 314.796 0.023
202411 0.024 315.493 0.025
202502 0.021 319.082 0.022
202505 0.036 321.465 0.038
202508 0.023 323.976 0.024
202511 0.023 324.122 0.024
202602 0.017 326.785 0.017
202605 0.030 335.123 0.030

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 icapital biz Bhd (XKLS:5108) Overvalued in 2026?

Based on GuruFocus' analysis, icapital biz Bhd stock appears to be undervalued. The current stock price of RM2.51 is trading 46.1% below its estimated GF Value™ of RM4.66. GuruFocus considers icapital biz Bhd to be Significantly Undervalued.

Key valuation signals for XKLS:5108:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: RM4.66 vs. price of RM2.51 (46.1% below fair value)
  • GF Score™: 54/100 with 3 warning signs

No single metric tells the full story. See the XKLS:5108 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


icapital biz Bhd Business Description

Address 201, Jalan Tun Sambanthan, Level 13, Menara 1 Sentrum, Brickfields, Kuala Lumpur, SGR, MYS, 50470
icapital biz Bhd is a Malaysia-based closed-end fund engaged in investing in a diversified portfolio of quoted securities. The fund's main objective is long-term capital appreciation through value investing in undervalued companies listed on Bursa Malaysia's Main and ACE Markets. It can also invest in cash deposits and up to 10% of its assets in unlisted companies. The fund is managed by Capital Dynamics Asset Management Sdn. Bhd., with Capital Dynamics Sdn. Bhd. as the investment adviser. Revenue and returns are generated through strategic investment in equities and other asset classes, focusing on sustainable growth and capital gains. The company operates mainly as an investment fund rather than traditional business operations.
54GF Score

Get the complete analysis for XKLS:5108

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

RM2.51
Price
RM4.66
GF Value