Elma Electronic AG (XSWX:ELMN) 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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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.

XSWX:ELMN Elma Electronic AG XSWX:ELMN
55 GF Score
Price CHF1,320.00
GF Value CHF1,022.31
Valuation Modestly Overvalued
! 10 Warning Signs
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What is Elma Electronic AG Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Elma Electronic AG  (XSWX:ELMN) 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.


Elma Electronic AG Cyclically Adjusted PS Ratio Related Terms


Elma Electronic AG Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Elma Electronic AG'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.

Elma Electronic AG Cyclically Adjusted PS Ratio Chart

Elma Electronic AG 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 1.20 1.61 1.53 1.54 1.82

Elma Electronic AG Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 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 1.53 1.55 1.64 1.83 1.85

XSWX:ELMN vs DELL, ANET, SNDK: Cyclically Adjusted PS Ratio Comparison

For the Computer Hardware subindustry, Elma Electronic AG'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.


Elma Electronic AG Cyclically Adjusted PS Ratio vs Hardware Industry

For the Hardware industry and Technology sector, Elma Electronic AG's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Elma Electronic AG's Cyclically Adjusted PS Ratio falls into.


XSWX:ELMN
55GF Score
Elma Electronic AG XSWX:ELMN
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Elma Electronic AG 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.

Elma Electronic AG's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec25 is calculated as:

For example, Elma Electronic AG's adjusted Revenue per Share data for the fiscal year that ended in Dec25 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec25 (Change)*Current CPI (Dec25)
=770.246/107.2000*107.2000
=770.246

Current CPI (Dec25) = 107.2000.

Elma Electronic AG Annual Data

Revenue per Share CPI Adj_RevenuePerShare
201612 570.296 99.380 615.174
201712 630.123 100.213 674.056
201812 638.889 100.906 678.740
201912 661.533 101.063 701.703
202012 643.506 100.241 688.182
202112 653.314 101.776 688.135
202212 676.895 104.666 693.282
202312 731.492 106.461 736.568
202412 778.010 107.128 778.532
202512 770.246 107.200 770.246

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 Elma Electronic AG (XSWX:ELMN) Overvalued in 2026?

Based on GuruFocus' analysis, Elma Electronic AG stock appears to be overvalued. The current stock price of CHF1,320.00 is trading 29.1% above its estimated GF Value™ of CHF1,022.31. GuruFocus considers Elma Electronic AG to be Modestly Overvalued.

Key valuation signals for XSWX:ELMN:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: CHF1,022.31 vs. price of CHF1,320.00 (29.1% above fair value)
  • GF Score™: 55/100 with 10 warning signs

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


Elma Electronic AG Business Description

Address Hofstrasse 93, Wetzikon, CHE, 8620
Elma Electronic AG is a Switzerland-based company. It acts as a manufacturer of electronic packaging products for the embedded systems market from components, backplanes, storage boards and chassis platforms to fully integrated systems. The product line of the company includes embedded boards such as mass storage, ethernet and PCIe switches, architecture solutions, embedded computing systems, system accessories, and rack level services. It also offers engineering services, contract manufacturing, system integration, customization and other services.
55GF Score

Get the complete analysis for XSWX:ELMN

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

CHF1,320.00
Price
CHF1,022.31
GF Value