Xerox Holdings (XTER:XER2) Cyclically Adjusted PS Ratio: 0.06 (As of Aug. 01, 2026) — 84% 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.

XTER:XER2 Xerox Holdings Corp XTER:XER2
57 GF Score
Price €13.85
GF Value €45.60
! 8 Warning Signs
View Full Analysis

What is Xerox Holdings Cyclically Adjusted PS Ratio?

Xerox Holdings XTER:XER2 57 Cyclically Adjusted PS Ratio is 0.06 as of Aug. 01, 2026, which is 84% below its 10-year median of 0.38. GuruFocus rates XTER:XER2 with a GF Score™ of 57/100 and a GF Value™ of €45.60. The stock has 8 warning signs investors should review. Among 2,300 Industrial Products companies, Xerox Holdings ranks better than 98.3% on this metric.

As of today (2026-08-01), Xerox Holdings's current share price is €13.854. Xerox Holdings's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 was €228.30. Xerox Holdings's Cyclically Adjusted PS Ratio for today is 0.06.

The historical rank and industry rank for Xerox Holdings's Cyclically Adjusted PS Ratio or its related term are showing as below:

XTER:XER2' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 0.02   Med: 0.38   Max: 0.72
Current: 0.06

During the past years, Xerox Holdings's highest Cyclically Adjusted PS Ratio was 0.72. The lowest was 0.02. And the median was 0.38.

XTER:XER2's Cyclically Adjusted PS Ratio is ranked better than
98.3% of 2300 companies
in the Industrial Products industry
Industry Median: 1.695 vs XTER:XER2: 0.06

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.

Xerox Holdings's adjusted revenue per share data for the three months ended in Jun. 2026 was €12.745. 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 €228.30 for the trailing ten years ended in Jun. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Xerox Holdings  (XTER:XER2) 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.


Xerox Holdings Cyclically Adjusted PS Ratio Related Terms


Xerox Holdings Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Xerox Holdings'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.

Xerox Holdings Cyclically Adjusted PS Ratio Chart

Xerox Holdings 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 0.45 0.29 0.38 0.17 0.05

Xerox Holdings 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 0.11 0.08 0.05 0.03 0.06

XTER:XER2 vs ACCO, ACTG, EBF: Cyclically Adjusted PS Ratio Comparison

For the Business Equipment & Supplies subindustry, Xerox Holdings'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.


Xerox Holdings Cyclically Adjusted PS Ratio vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Xerox Holdings's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


XTER:XER2
57GF Score
Xerox Holdings Corp XTER:XER2
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Xerox Holdings 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.

Xerox Holdings's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=13.854/228.30
=0.06

* 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.

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

For example, Xerox Holdings'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)
=12.745/333.9520*333.9520
=12.745

Current CPI (Jun. 2026) = 333.9520.

Xerox Holdings Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 9.139 241.428 12.641
201612 10.077 241.432 13.939
201703 8.958 243.801 12.270
201706 8.680 244.955 11.834
201709 7.954 246.819 10.762
201712 8.131 246.524 11.015
201803 7.670 249.554 10.264
201806 8.329 251.989 11.038
201809 8.021 252.439 10.611
201812 8.431 251.233 11.207
201903 8.281 254.202 10.879
201906 8.512 256.143 11.098
201909 8.563 256.759 11.137
201912 10.226 256.974 13.289
202003 7.912 258.115 10.237
202006 6.035 257.797 7.818
202009 7.053 260.280 9.049
202012 7.954 260.474 10.198
202103 7.248 264.877 9.138
202106 7.873 271.696 9.677
202109 8.230 274.310 10.019
202112 9.249 278.802 11.079
202203 9.686 287.504 11.251
202206 10.651 296.311 12.004
202209 11.359 296.808 12.781
202212 11.699 296.797 13.164
202303 10.154 301.836 11.234
202306 10.311 305.109 11.286
202309 9.742 307.789 10.570
202312 12.874 306.746 14.016
202403 11.151 312.332 11.923
202406 11.676 314.175 12.411
202409 11.072 315.301 11.727
202412 12.383 315.605 13.103
202503 10.765 319.799 11.241
202506 10.862 322.561 11.246
202509 13.164 324.800 13.535
202512 13.543 324.054 13.957
202603 12.380 330.213 12.520
202606 12.745 333.952 12.745

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 0.06 mean?
Xerox Holdings (XTER:XER2) has a Cyclically Adjusted PS Ratio of 0.06 as of Aug. 01, 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 Xerox Holdings and its competitors. This is 84% below median its historical median of 0.38. Over the past decade, Xerox Holdings' Cyclically Adjusted PS Ratio has ranged from 0.02 to 0.72. According to the industry distribution chart, Xerox Holdings ranks #39 out of 2300 companies in the Industrial Products industry, placing it in the top 1.7%.
Is Xerox Holdings' Cyclically Adjusted PS Ratio too high?
Xerox Holdings' current Cyclically Adjusted PS Ratio of 0.06 is 84% below median its 10-year median of 0.38. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.72. The Industrial Products industry median Cyclically Adjusted PS Ratio is 1.70. Xerox Holdings' value of 0.06 is 96.5% below this industry median. Based on the distribution chart, Xerox Holdings ranks #39 out of 2300 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Xerox Holdings has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Xerox Holdings' Cyclically Adjusted PS Ratio compare to ACCO and ACTG?
According to the Industrial Products industry distribution chart, Xerox Holdings ranks #39 out of 2300 companies for Cyclically Adjusted PS Ratio. This places Xerox Holdings in the top 2% of its industry — outperforming the majority of peers. The industry median Cyclically Adjusted PS Ratio is 1.70. Xerox Holdings' value of 0.06 is 96.5% below this benchmark. Historically, Xerox Holdings' own Cyclically Adjusted PS Ratio has ranged from 0.02 to 0.72 over the past decade. While the company's 10-year median is 0.38 vs. the industry median of 1.70, Xerox Holdings has consistently been below 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 an Industrial Products company?
The median Cyclically Adjusted PS Ratio among Industrial Products companies is 1.70, based on 2,300 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. Xerox Holdings's current Cyclically Adjusted PS Ratio of 0.06 is 96.5% below 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 Xerox Holdings and its competitors. For the Industrial Products industry, the median Cyclically Adjusted PS Ratio is 1.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Xerox Holdings's current Cyclically Adjusted PS Ratio is 0.06, which is 84% below median its own 10-year median of 0.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Xerox Holdings stock overvalued right now?
Xerox Holdings (XTER:XER2) has a current Cyclically Adjusted PS Ratio of 0.06. The stock's GF Value™ is €45.60, compared to a current price of €13.85 — trading 69.6% below its estimated fair value. The current Cyclically Adjusted PS Ratio is 0.06, which is 84% below median its 10-year median of 0.38 and 96.5% below the Industrial Products industry median of 1.70. Xerox Holdings' overall GF Score™ is 57/100 with 8 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 Xerox Holdings (XTER:XER2), the current Cyclically Adjusted PS Ratio is 0.06 as of Aug. 01, 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 Xerox Holdings (XTER:XER2) Overvalued in 2026?

Based on GuruFocus' analysis, Xerox Holdings stock appears to be undervalued. The current stock price of €13.85 is trading 69.6% below its estimated GF Value™ of €45.60.

Key valuation signals for XTER:XER2:

  • Cyclically Adjusted PS Ratio: 0.06 (84% below median its 10-year median of 0.38)
  • GF Value™: €45.60 vs. price of €13.85 (69.6% below fair value)
  • GF Score™: 57/100 with 8 warning signs
  • Industry Position: 96.5% below the Industrial Products median (#39 of 2300)

No single metric tells the full story. See the XTER:XER2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Xerox Holdings Business Description

Address 401 MERRITT 7, P.O. Box 4505, Norwalk, CT, USA, 06851-1056
Xerox Holdings Corp is a workplace technology company, building and integrating services-led, software-enabled, workplace solutions for enterprises large and small. It provide advance document technology, services, software, and integrated IT infrastructure solutions for a range of customers including small and mid-sized businesses, large enterprises, governments and graphic communications providers, and for partners who serve them. Xerox serves customers globally in North America, Europe, Latin America, Brazil, Asia Pacific (APAC), the Middle East, Africa, and India.
57GF Score

Get the complete analysis for XTER:XER2

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

€13.85
Price
€45.60
GF Value