Ihlas Holding AS (IST:IHLAS) Cyclically Adjusted Revenue per Share: ₺3.48 (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.

IST:IHLAS Ihlas Holding AS IST:IHLAS
46 GF Score
Price ₺1.08
GF Value ₺1.93
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is Ihlas Holding AS Cyclically Adjusted Revenue per Share?

Ihlas Holding AS IST:IHLAS -1.82% 46 Cyclically Adjusted Revenue per Share is ₺3.48 as of Mar. 2026. GuruFocus rates IST:IHLAS with a GF Score™ of 46/100 and a GF Value™ of ₺1.93 (Possible Value Trap). The stock has 5 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.

Ihlas Holding AS's adjusted revenue per share for the three months ended in Mar. 2026 was ₺2.077. 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 ₺3.48 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Ihlas Holding AS's average Cyclically Adjusted Revenue Growth Rate was 38.10% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 36.90% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 32.90% 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.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Ihlas Holding AS was 36.90% per year. The lowest was 1.70% per year. And the median was 21.95% per year.

As of today (2026-07-22), Ihlas Holding AS's current stock price is ₺1.08. Ihlas Holding AS's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was ₺3.48. Ihlas Holding AS's Cyclically Adjusted PS Ratio of today is 0.31.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Ihlas Holding AS was 1.41. The lowest was 0.25. And the median was 0.51.


Ihlas Holding AS  (IST:IHLAS) 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.

Ihlas Holding AS's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=1.08/3.48
=0.31

* 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 Ihlas Holding AS was 1.41. The lowest was 0.25. And the median was 0.51.


Be Aware

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


Ihlas Holding AS Cyclically Adjusted Revenue per Share Related Terms


Ihlas Holding AS Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Ihlas Holding AS'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.

Ihlas Holding AS Cyclically Adjusted Revenue per Share Chart

Ihlas Holding AS 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 0.94 1.26 1.72 2.33 3.23

Ihlas Holding AS 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 2.52 2.67 2.83 3.23 3.48

IST:IHLAS vs HON, MMM: Cyclically Adjusted Revenue per Share Comparison

For the Conglomerates subindustry, Ihlas Holding AS'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.


Ihlas Holding AS Cyclically Adjusted PS Ratio vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, Ihlas Holding AS's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Ihlas Holding AS's Cyclically Adjusted PS Ratio falls into.


IST:IHLAS
46GF Score
Ihlas Holding AS IST:IHLAS
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ihlas Holding AS 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, Ihlas Holding AS'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)
=2.077/330.2130*330.2130
=2.077

Current CPI (Mar. 2026) = 330.2130.

Ihlas Holding AS Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.526 241.018 0.721
201609 0.132 241.428 0.181
201612 0.202 241.432 0.276
201703 0.136 243.801 0.184
201706 0.137 244.955 0.185
201709 0.135 246.819 0.181
201712 0.215 246.524 0.288
201803 0.169 249.554 0.224
201806 0.245 251.989 0.321
201809 0.173 252.439 0.226
201812 0.526 251.233 0.691
201903 0.158 254.202 0.205
201906 0.138 256.143 0.178
201909 0.149 256.759 0.192
201912 0.181 256.974 0.233
202003 0.320 258.115 0.409
202006 0.142 257.797 0.182
202009 0.242 260.280 0.307
202012 0.302 260.474 0.383
202103 0.188 264.877 0.234
202106 0.239 271.696 0.290
202109 0.475 274.310 0.572
202112 0.596 278.802 0.706
202203 0.392 287.504 0.450
202206 0.404 296.311 0.450
202209 0.406 296.808 0.452
202212 2.122 296.797 2.361
202303 0.847 301.836 0.927
202306 0.916 305.109 0.991
202309 1.006 307.789 1.079
202312 2.554 306.746 2.749
202403 1.700 312.332 1.797
202406 1.286 314.175 1.352
202409 1.555 315.301 1.629
202412 2.015 315.605 2.108
202503 1.805 319.799 1.864
202506 1.393 322.561 1.426
202509 1.571 324.800 1.597
202512 4.090 324.054 4.168
202603 2.077 330.213 2.077

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 ₺3.48 mean?
Ihlas Holding AS (IST:IHLAS) has a Cyclically Adjusted Revenue per Share of ₺3.48 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 Ihlas Holding AS and its competitors.
Is Ihlas Holding AS's Cyclically Adjusted Revenue per Share too high?
Ihlas Holding AS's current Cyclically Adjusted Revenue per Share is ₺3.48. Overall, Ihlas Holding AS has a GF Score™ of 46/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Ihlas Holding AS's Cyclically Adjusted Revenue per Share compare to HON and MMM?
Ihlas Holding AS's Cyclically Adjusted Revenue per Share of ₺3.48 can be compared against companies in the Conglomerates 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 Conglomerates company?
A good Cyclically Adjusted Revenue per Share depends on the Conglomerates 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 Ihlas Holding AS and its competitors. Ihlas Holding AS's current Cyclically Adjusted Revenue per Share is ₺3.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ihlas Holding AS stock overvalued right now?
Based on GuruFocus' analysis, Ihlas Holding AS (IST:IHLAS) is currently considered Possible Value Trap. The stock's GF Value™ is ₺1.93, compared to a current price of ₺1.08 — trading 44% below its estimated fair value. The current Cyclically Adjusted Revenue per Share is ₺3.48. Ihlas Holding AS's overall GF Score™ is 46/100 with 5 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 Ihlas Holding AS (IST:IHLAS), the current Cyclically Adjusted Revenue per Share is ₺3.48 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 Ihlas Holding AS (IST:IHLAS) Overvalued in 2026?

Based on GuruFocus' analysis, Ihlas Holding AS stock appears to be undervalued. The current stock price of ₺1.08 is trading 44% below its estimated GF Value™ of ₺1.93. GuruFocus considers Ihlas Holding AS to be Possible Value Trap.

Key valuation signals for IST:IHLAS:

  • Cyclically Adjusted Revenue per Share: ₺3.48
  • GF Value™: ₺1.93 vs. price of ₺1.08 (44% below fair value)
  • GF Score™: 46/100 with 5 warning signs

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


Ihlas Holding AS Business Description

Address Merkez Mahallesi 29 Ekim Caddesi, Ihlas Plaza No: 11 B/21, Yenibosna, Bahcelievler, Istanbul, TUR, 34197
Ihlas Holding AS is a Turkey-based holding company. The operating segment includes Construction, Marketing, Media, and Others. It generates maximum revenue from the Marketing segment. The construction segment includes Real estate trading, construction projects, installation and contracting works, tourism and health investments, marketing, operating, and other construction operations. The Media Segment involves Publishing, selling, distributing and marketing of newspapers and all kinds of publications in Turkey and abroad, news agencies, television, and Other. The Marketing segment includes Home appliances manufacturing, all kinds of motorized and non-motorized vehicles production, import, export, consumer durable trade, and its marketing. Geographically, it operates only in Turkey.
46GF Score

Get the complete analysis for IST:IHLAS

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

₺1.08
Price
₺1.93
GF Value