Euronext NV (XPAR:ENX) Cyclically Adjusted PS Ratio: (As of Sep. 22, 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.

XPAR:ENX Euronext NV XPAR:ENX
95 GF Score
Price €159.70
GF Value €127.90
Valuation Modestly Overvalued
! 7 Warning Signs
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What is Euronext NV Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Euronext NV  (XPAR:ENX) 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.


Euronext NV Cyclically Adjusted PS Ratio Related Terms


Euronext NV Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Euronext NV'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.

Euronext NV Cyclically Adjusted PS Ratio Chart

Euronext NV 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 10.01 6.56 6.60 7.81 8.21

Euronext NV 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 11.12 9.49 9.41 9.88 9.72

XPAR:ENX vs SPGI, CME, ICE: Cyclically Adjusted PS Ratio Comparison

For the Financial Data & Stock Exchanges subindustry, Euronext NV'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.


Euronext NV Cyclically Adjusted PS Ratio vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Euronext NV's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


XPAR:ENX
95GF Score
Euronext NV XPAR:ENX
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Euronext NV 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.

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

For example, Euronext NV'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)
=5.236/137.7000*137.7000
=5.236

Current CPI (Jun. 2026) = 137.7000.

Euronext NV Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 1.482 100.570 2.029
201612 1.648 100.710 2.253
201703 1.654 101.440 2.245
201706 1.792 101.370 2.434
201709 1.681 102.030 2.269
201712 2.370 101.970 3.200
201803 1.969 102.470 2.646
201806 2.033 103.100 2.715
201809 1.973 103.950 2.614
201812 2.095 103.970 2.775
201903 1.993 105.370 2.604
201906 2.074 105.840 2.698
201909 2.375 106.700 3.065
201912 2.424 106.800 3.125
202003 3.085 106.850 3.976
202006 2.763 107.510 3.539
202009 2.674 107.880 3.413
202012 3.030 107.850 3.869
202103 3.255 108.870 4.117
202106 3.092 109.670 3.882
202109 3.781 110.790 4.699
202112 3.842 114.010 4.640
202203 3.704 119.460 4.270
202206 3.770 119.050 4.361
202209 2.820 126.890 3.060
202212 3.247 124.940 3.579
202303 3.480 124.720 3.842
202306 3.441 125.830 3.766
202309 3.373 127.160 3.653
202312 3.518 126.450 3.831
202403 3.864 128.580 4.138
202406 3.971 129.910 4.209
202409 3.801 131.610 3.977
202412 3.827 131.630 4.003
202503 4.489 133.330 4.636
202506 4.561 133.960 4.688
202509 4.267 135.920 4.323
202512 4.428 135.470 4.501
202603 5.067 136.840 5.099
202606 5.236 137.700 5.236

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 Euronext NV (XPAR:ENX) Overvalued in 2026?

Based on GuruFocus' analysis, Euronext NV stock appears to be overvalued. The current stock price of €159.70 is trading 24.9% above its estimated GF Value™ of €127.90. GuruFocus considers Euronext NV to be Modestly Overvalued.

Key valuation signals for XPAR:ENX:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €127.90 vs. price of €159.70 (24.9% above fair value)
  • GF Score™: 95/100 with 7 warning signs

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


Euronext NV Business Description

Address Beursplein 5, Amsterdam, NLD, 1012 JW
Euronext is a financial exchange group with trading venues in Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo, and Paris, covering primarily cash equities, fixed income, and index and single stock derivatives. With the acquisition of Borsa Italiana, Euronext has also taken control of CC&G, the Italian multi-asset clearing house, as well as Monte Titoli, the Italian central securities depository. This complements Euronext's other CSDs in Norway, Denmark and Portugal. Euronext is the owner of the CAC40, AEX, BEL 20, ISEQ 20, OBX, and PSI 20 indexes.
95GF Score

Get the complete analysis for XPAR:ENX

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

€159.70
Price
€127.90
GF Value