Alpha Adriatic JSC (ZAG:ULPL) Cyclically Adjusted PS Ratio: (As of Sep. 21, 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.

ZAG:ULPL Alpha Adriatic JSC ZAG:ULPL
43 GF Score
Price €8.05
GF Value €20.00
Valuation Possible Value Trap
! 1 Warning Sign
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What is Alpha Adriatic JSC Cyclically Adjusted PS Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Alpha Adriatic JSC  (ZAG:ULPL) 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.


Alpha Adriatic JSC Cyclically Adjusted PS Ratio Related Terms


Alpha Adriatic JSC Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Alpha Adriatic JSC'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.

Alpha Adriatic JSC Cyclically Adjusted PS Ratio Chart

Alpha Adriatic JSC 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 0.28 0.28 0.42 0.28 0.24

Alpha Adriatic JSC 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 0.29 0.27 0.24 0.22 0.22

ZAG:ULPL vs UPS, FDX, EXPD: Cyclically Adjusted PS Ratio Comparison

For the Integrated Freight & Logistics subindustry, Alpha Adriatic JSC'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.


Alpha Adriatic JSC Cyclically Adjusted PS Ratio vs Transportation Industry

For the Transportation industry and Industrials sector, Alpha Adriatic JSC's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Alpha Adriatic JSC's Cyclically Adjusted PS Ratio falls into.


ZAG:ULPL
43GF Score
Alpha Adriatic JSC ZAG:ULPL
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Alpha Adriatic JSC 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.

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

For example, Alpha Adriatic JSC'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)
=7.806/333.9520*333.9520
=7.806

Current CPI (Jun. 2026) = 333.9520.

Alpha Adriatic JSC Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 9.013 241.428 12.467
201612 10.960 241.432 15.160
201703 9.004 243.801 12.333
201706 13.078 244.955 17.829
201709 10.949 246.819 14.814
201712 8.565 246.524 11.603
201803 10.033 249.554 13.426
201806 10.496 251.989 13.910
201809 9.069 252.439 11.997
201812 7.672 251.233 10.198
201903 8.499 254.202 11.165
201906 9.525 256.143 12.418
201909 8.180 256.759 10.639
201912 7.300 256.974 9.487
202003 5.309 258.115 6.869
202006 5.026 257.797 6.511
202009 5.822 260.280 7.470
202012 6.438 260.474 8.254
202103 7.496 264.877 9.451
202106 7.972 271.696 9.799
202109 10.136 274.310 12.340
202112 7.875 278.802 9.433
202203 8.284 287.504 9.622
202206 8.451 296.311 9.525
202209 9.755 296.808 10.976
202212 7.323 296.797 8.240
202303 8.576 301.836 9.489
202306 7.271 305.109 7.958
202309 7.849 307.789 8.516
202312 8.697 306.746 9.468
202403 8.256 312.332 8.827
202406 8.950 314.175 9.513
202409 7.888 315.301 8.355
202412 7.966 315.605 8.429
202503 7.965 319.799 8.317
202506 5.964 322.561 6.175
202509 7.960 324.800 8.184
202512 6.873 324.054 7.083
202603 6.566 330.213 6.640
202606 7.806 333.952 7.806

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 Alpha Adriatic JSC (ZAG:ULPL) Overvalued in 2026?

Based on GuruFocus' analysis, Alpha Adriatic JSC stock appears to be undervalued. The current stock price of €8.05 is trading 59.8% below its estimated GF Value™ of €20.00. GuruFocus considers Alpha Adriatic JSC to be Possible Value Trap.

Key valuation signals for ZAG:ULPL:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €20.00 vs. price of €8.05 (59.8% below fair value)
  • GF Score™: 43/100 with 1 warning sign

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


Alpha Adriatic JSC Business Description

Address Carrarina 6, Pula, HRV, 52100
Alpha Adriatic JSC engaged in activities of international maritime transportation of goods in dry bulk and tanker sectors and providing full ship management services for third parties. It has interests in oil and chemical tankers, and bulk carriers and also provides third-party ship management services for oil and chemical tankers.
43GF Score

Get the complete analysis for ZAG:ULPL

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

€8.05
Price
€20.00
GF Value