BFF Bank SpA (FRA:2BF) Cyclically Adjusted Revenue per Share: €1.85 (As of Mar. 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.

FRA:2BF BFF Bank SpA FRA:2BF
52 GF Score
Price €2.80
GF Value €8.45
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is BFF Bank SpA Cyclically Adjusted Revenue per Share?

BFF Bank SpA FRA:2BF -10.43% 52 Cyclically Adjusted Revenue per Share is €1.85 as of Mar. 2026. GuruFocus rates FRA:2BF with a GF Score™ of 52/100 and a GF Value™ of €8.45 (Possible Value Trap). The stock has 4 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and 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.

BFF Bank SpA's adjusted revenue per share for the three months ended in Mar. 2026 was €0.594. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is €1.85 for the trailing ten years ended in Mar. 2026.

During the past 12 months, BFF Bank SpA's average Cyclically Adjusted Revenue Growth Rate was 4.50% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

As of today (2026-07-15), BFF Bank SpA's current stock price is €2.80. BFF Bank SpA's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €1.85. BFF Bank SpA's Cyclically Adjusted PS Ratio of today is 1.51.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of BFF Bank SpA was 6.41. The lowest was 0.78. And the median was 4.70.


BFF Bank SpA  (FRA:2BF) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

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.

BFF Bank SpA's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=2.80/1.85
=1.51

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of BFF Bank SpA was 6.41. The lowest was 0.78. And the median was 4.70.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


BFF Bank SpA Cyclically Adjusted Revenue per Share Related Terms


BFF Bank SpA Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for BFF Bank SpA's Cyclically Adjusted Revenue per Share 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.

BFF Bank SpA Cyclically Adjusted Revenue per Share Chart

BFF Bank SpA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 1.73 1.82

BFF Bank SpA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Revenue per Share 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 1.74 1.79 1.79 1.82 1.85

FRA:2BF vs V, MA, AXP: Cyclically Adjusted Revenue per Share Comparison

For the Credit Services subindustry, BFF Bank SpA'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.


BFF Bank SpA Cyclically Adjusted PS Ratio vs Credit Services Industry

For the Credit Services industry and Financial Services sector, BFF Bank SpA's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where BFF Bank SpA's Cyclically Adjusted PS Ratio falls into.


FRA:2BF
52GF Score
BFF Bank SpA FRA:2BF
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BFF Bank SpA Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and 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.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, BFF Bank SpA'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)
=0.594/124.5600*124.5600
=0.594

Current CPI (Mar. 2026) = 124.5600.

BFF Bank SpA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.189 99.900 0.236
201609 0.179 100.100 0.223
201612 0.417 100.300 0.518
201703 0.401 101.000 0.495
201706 0.241 101.100 0.297
201709 0.222 101.200 0.273
201712 0.339 101.200 0.417
201803 0.266 101.800 0.325
201806 0.307 102.400 0.373
201809 0.224 102.600 0.272
201812 0.421 102.300 0.513
201903 0.275 102.800 0.333
201906 0.259 103.100 0.313
201909 0.279 102.900 0.338
201912 0.447 102.800 0.542
202003 0.303 102.900 0.367
202006 0.294 102.900 0.356
202009 0.276 102.300 0.336
202012 0.432 102.600 0.524
202103 1.288 103.700 1.547
202106 -0.553 104.200 -0.661
202109 1.331 104.900 1.580
202112 -0.359 106.600 -0.419
202203 0.499 110.400 0.563
202206 0.501 112.500 0.555
202209 0.504 114.200 0.550
202212 0.743 119.000 0.778
202303 0.605 118.800 0.634
202306 0.490 119.700 0.510
202309 0.516 120.300 0.534
202312 0.744 119.700 0.774
202403 0.529 120.200 0.548
202406 0.494 120.700 0.510
202409 1.229 121.200 1.263
202412 -0.117 121.200 -0.120
202503 0.503 122.500 0.511
202506 0.556 122.700 0.564
202509 0.541 123.100 0.547
202512 0.407 122.600 0.414
202603 0.594 124.560 0.594

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

What does a Cyclically Adjusted Revenue per Share of €1.85 mean?
BFF Bank SpA (FRA:2BF) has a Cyclically Adjusted Revenue per Share of €1.85 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on BFF Bank SpA and its competitors.
Is BFF Bank SpA's Cyclically Adjusted Revenue per Share too high?
BFF Bank SpA's current Cyclically Adjusted Revenue per Share is €1.85. Overall, BFF Bank SpA has a GF Score™ of 52/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does BFF Bank SpA's Cyclically Adjusted Revenue per Share compare to V and MA?
BFF Bank SpA's Cyclically Adjusted Revenue per Share of €1.85 can be compared against companies in the Credit Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for a Credit Services company?
A good Cyclically Adjusted Revenue per Share depends on the Credit Services industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on BFF Bank SpA and its competitors. BFF Bank SpA's current Cyclically Adjusted Revenue per Share is €1.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BFF Bank SpA stock overvalued right now?
Based on GuruFocus' analysis, BFF Bank SpA (FRA:2BF) is currently considered Possible Value Trap. The stock's GF Value™ is €8.45, compared to a current price of €2.80 — trading 66.9% below its estimated fair value. The current Cyclically Adjusted Revenue per Share is €1.85. BFF Bank SpA's overall GF Score™ is 52/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For BFF Bank SpA (FRA:2BF), the current Cyclically Adjusted Revenue per Share is €1.85 as of Mar. 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 BFF Bank SpA (FRA:2BF) Overvalued in 2026?

Based on GuruFocus' analysis, BFF Bank SpA stock appears to be undervalued. The current stock price of €2.80 is trading 66.9% below its estimated GF Value™ of €8.45. GuruFocus considers BFF Bank SpA to be Possible Value Trap.

Key valuation signals for FRA:2BF:

  • Cyclically Adjusted Revenue per Share: €1.85
  • GF Value™: €8.45 vs. price of €2.80 (66.9% below fair value)
  • GF Score™: 52/100 with 4 warning signs

No single metric tells the full story. See the FRA:2BF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


BFF Bank SpA Business Description

Address Viale Lodovico Scarampo, 15, Milan, ITA, 20148
BFF Bank SpA is an independent specialty finance company engaged in three business units; Factoring & Lending BU, which offers products such as non-recourse factoring, lending, and credit management mainly to public sector suppliers and public administration bodies, Securities Services BU, which deals with custodian banking for investment funds and related services such as fund accounting, and transfer agents for national managers and banks and for various investment funds such as pension funds, mutual funds and alternative funds, and Payments BU, which deals with payment processing, corporate payments, and cheques and bills and has as customers medium-small Italian banks, medium-large companies and boasts a partnership with Nexi.
52GF Score

Get the complete analysis for FRA:2BF

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

€2.80
Price
€8.45
GF Value