ZLNWF (ZEAL Network SE) Cyclically Adjusted PS Ratio: (As of Jul. 31, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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What is ZEAL Network SE Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


ZEAL Network SE  (OTCPK:ZLNWF) 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.


ZEAL Network SE Cyclically Adjusted PS Ratio Related Terms


ZEAL Network SE Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for ZEAL Network SE'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.

ZEAL Network SE Cyclically Adjusted PS Ratio Chart

ZEAL Network SE 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 2.91 2.14 2.61 4.41 4.55

ZEAL Network SE Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 3.83 4.19 4.29 4.55 4.43

ZLNWF vs FLUT, DKNG, SGHC: Cyclically Adjusted PS Ratio Comparison

For the Gambling subindustry, ZEAL Network SE'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.


ZEAL Network SE Cyclically Adjusted PS Ratio vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, ZEAL Network SE's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where ZEAL Network SE's Cyclically Adjusted PS Ratio falls into.



ZEAL Network SE 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.

ZEAL Network SE's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, ZEAL Network SE's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=2.55/131.2583*131.2583
=2.550

Current CPI (Mar. 2026) = 131.2583.

ZEAL Network SE Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.089 100.717 0.116
201609 4.429 101.017 5.755
201612 4.493 101.217 5.827
201703 2.857 101.417 3.698
201706 4.637 102.117 5.960
201709 3.778 102.717 4.828
201712 4.901 102.617 6.269
201803 4.621 102.917 5.894
201806 4.041 104.017 5.099
201809 4.552 104.718 5.706
201812 5.288 104.217 6.660
201903 4.395 104.217 5.535
201906 2.545 105.718 3.160
201909 0.693 106.018 0.858
201912 0.908 105.818 1.126
202003 0.851 105.718 1.057
202006 1.723 106.618 2.121
202009 0.933 105.818 1.157
202012 1.045 105.518 1.300
202103 1.025 107.518 1.251
202106 0.854 108.486 1.033
202109 0.957 109.435 1.148
202112 1.182 110.384 1.406
202203 1.103 113.968 1.270
202206 1.083 115.760 1.228
202209 1.083 118.818 1.196
202212 1.409 119.345 1.550
202303 1.160 122.402 1.244
202306 1.248 123.140 1.330
202309 1.383 124.195 1.462
202312 1.687 123.773 1.789
202403 1.644 125.038 1.726
202406 1.866 125.882 1.946
202409 1.920 126.198 1.997
202412 3.359 127.041 3.471
202503 2.444 127.779 2.511
202506 2.393 128.412 2.446
202509 2.897 129.255 2.942
202512 2.621 129.361 2.659
202603 2.550 131.258 2.550

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.


ZEAL Network SE Business Description

Address Strassenbahnring 11, Hamburg, NI, DEU, 20251
ZEAL Network SE is an e-commerce group of companies company specializing in the area of online lottery. The company offers consumer-facing lottery-based games as well as business-to-business solutions. The operating business segments are Germany and Other. The ZEAL group now has more than one million active customers. ZEAL allows the participation in state-licensed lotteries via the LOTTO24 and Tipp24 brands and also offers its own lottery products. ZEAL operates under its owns brands namely ZEAL Instant Games, ZEAL Ventures and ZEAL Iberia.