Reply SpA (MIL:REY) Cyclically Adjusted Revenue per Share: €33.38 (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
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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.
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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.

MIL:REY Reply SpA MIL:REY
78 GF Score
Price €96.90
GF Value €146.84
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Reply SpA Cyclically Adjusted Revenue per Share?

Reply SpA MIL:REY +1.10% 78 Cyclically Adjusted Revenue per Share is €33.38 as of Mar. 2026. GuruFocus rates MIL:REY with a GF Score™ of 78/100 and a GF Value™ of €146.84 (Significantly Undervalued). The stock has 3 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.

Reply SpA's adjusted revenue per share for the three months ended in Mar. 2026 was €17.301. 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 €33.38 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Reply SpA's average Cyclically Adjusted Revenue Growth Rate was 30.50% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was 46.90% 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 Reply SpA was 90.00% per year. The lowest was 46.90% per year. And the median was 68.45% per year.

As of today (2026-07-16), Reply SpA's current stock price is €96.90. Reply SpA's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €33.38. Reply SpA's Cyclically Adjusted PS Ratio of today is 2.90.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Reply SpA was 249.01. The lowest was 2.46. And the median was 7.52.


Reply SpA  (MIL:REY) 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.

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

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=96.90/33.38
=2.90

* 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 Reply SpA was 249.01. The lowest was 2.46. And the median was 7.52.


Be Aware

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


Reply SpA Cyclically Adjusted Revenue per Share Related Terms


Reply SpA Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Reply 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.

Reply SpA Cyclically Adjusted Revenue per Share Chart

Reply 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 3.48 10.01 16.56 23.87 31.76

Reply 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 25.20 27.41 28.54 31.76 33.38

MIL:REY vs IBM, ACN, FISV: Cyclically Adjusted Revenue per Share Comparison

For the Information Technology Services subindustry, Reply 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.


Reply SpA Cyclically Adjusted PS Ratio vs Software Industry

For the Software industry and Technology sector, Reply SpA's Cyclically Adjusted PS Ratio distribution charts can be found below:

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


MIL:REY
78GF Score
Reply SpA MIL:REY
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Reply 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, Reply 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)
=17.301/124.5600*124.5600
=17.301

Current CPI (Mar. 2026) = 124.5600.

Reply SpA Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 -4.873 99.900 -6.076
201609 4.940 100.100 6.147
201612 -14.749 100.300 -18.316
201703 5.571 101.000 6.871
201706 -5.462 101.100 -6.729
201709 5.607 101.200 6.901
201712 6.231 101.200 7.669
201803 6.386 101.800 7.814
201806 -6.246 102.400 -7.598
201809 6.852 102.600 8.319
201812 -19.766 102.300 -24.067
201903 7.580 102.800 9.184
201906 -7.422 103.100 -8.967
201909 7.820 102.900 9.466
201912 9.076 102.800 10.997
202003 8.474 102.900 10.258
202006 -8.325 102.900 -10.077
202009 7.836 102.300 9.541
202012 9.658 102.600 11.725
202103 9.437 103.700 11.335
202106 9.827 104.200 11.747
202109 9.656 104.900 11.466
202112 11.463 106.600 13.394
202203 11.807 110.400 13.321
202206 12.231 112.500 13.542
202209 12.526 114.200 13.662
202212 14.885 119.000 15.580
202303 13.964 118.800 14.641
202306 14.121 119.700 14.694
202309 13.656 120.300 14.140
202312 15.290 119.700 15.911
202403 14.869 120.200 15.408
202406 15.023 120.700 15.503
202409 14.855 121.200 15.267
202412 16.803 121.200 17.269
202503 16.298 122.500 16.572
202506 16.276 122.700 16.523
202509 16.056 123.100 16.246
202512 16.906 122.600 17.176
202603 17.301 124.560 17.301

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 €33.38 mean?
Reply SpA (MIL:REY) has a Cyclically Adjusted Revenue per Share of €33.38 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 Reply SpA and its competitors.
Is Reply SpA's Cyclically Adjusted Revenue per Share too high?
Reply SpA's current Cyclically Adjusted Revenue per Share is €33.38. Overall, Reply SpA has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Reply SpA's Cyclically Adjusted Revenue per Share compare to IBM and ACN?
Reply SpA's Cyclically Adjusted Revenue per Share of €33.38 can be compared against companies in the Software 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 Software company?
A good Cyclically Adjusted Revenue per Share depends on the Software 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 Reply SpA and its competitors. Reply SpA's current Cyclically Adjusted Revenue per Share is €33.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Reply SpA stock overvalued right now?
Based on GuruFocus' analysis, Reply SpA (MIL:REY) is currently considered Significantly Undervalued. The stock's GF Value™ is €146.84, compared to a current price of €96.90 — trading 34% below its estimated fair value. The current Cyclically Adjusted Revenue per Share is €33.38. Reply SpA's overall GF Score™ is 78/100 with 3 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 Reply SpA (MIL:REY), the current Cyclically Adjusted Revenue per Share is €33.38 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 Reply SpA (MIL:REY) Overvalued in 2026?

Based on GuruFocus' analysis, Reply SpA stock appears to be undervalued. The current stock price of €96.90 is trading 34% below its estimated GF Value™ of €146.84. GuruFocus considers Reply SpA to be Significantly Undervalued.

Key valuation signals for MIL:REY:

  • Cyclically Adjusted Revenue per Share: €33.38
  • GF Value™: €146.84 vs. price of €96.90 (34% below fair value)
  • GF Score™: 78/100 with 3 warning signs

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


Reply SpA Business Description

Address Corso Francia, 110, Turin, ITA, 10143
Reply SpA specialises in consulting, digital services, and the integration of processes, applications, and devices. Reply serves clients in the telecommunication and media, banking, insurance, financial, industry and services, energy and utilities, and public administration industries. The company provides its services mainly through platforms such as X-Rais Reply, Discovery Reply, Brick Reply, TamTamy, and SideUp Reply. Reply researches, selects, and markets solutions through channels such as data analysis, digital communication, e-commerce, mobile, and social media. Its business segments are defined based on geographical areas of operation and include Region 1 (including Italy, USA, Brazil, Poland, Romania, and Nanjing), which derives key revenue, Region 2, Region 3, and IoT Incubator.
78GF Score

Get the complete analysis for MIL:REY

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

€96.90
Price
€146.84
GF Value