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Axis Capital Holdings (FRA:AXV) Cyclically Adjusted Book per Share : €60.79 (As of Mar. 2024)


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What is Axis Capital Holdings Cyclically Adjusted Book per Share?

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 Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

Axis Capital Holdings's adjusted book value per share for the three months ended in Mar. 2024 was €53.830. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is €60.79 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Axis Capital Holdings's average Cyclically Adjusted Book Growth Rate was 2.40% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 5.40% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 5.00% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 6.00% 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 Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of Axis Capital Holdings was 8.20% per year. The lowest was 4.30% per year. And the median was 6.00% per year.

As of today (2024-05-26), Axis Capital Holdings's current stock price is €66.00. Axis Capital Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was €60.79. Axis Capital Holdings's Cyclically Adjusted PB Ratio of today is 1.09.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Axis Capital Holdings was 1.53. The lowest was 0.62. And the median was 1.12.


Axis Capital Holdings Cyclically Adjusted Book per Share Historical Data

The historical data trend for Axis Capital Holdings's Cyclically Adjusted Book 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.

* Premium members only.

Axis Capital Holdings Cyclically Adjusted Book per Share Chart

Axis Capital Holdings Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 46.56 43.11 50.63 56.22 55.75

Axis Capital Holdings Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Book 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 58.75 59.30 61.35 55.75 60.79

Competitive Comparison of Axis Capital Holdings's Cyclically Adjusted Book per Share

For the Insurance - Specialty subindustry, Axis Capital Holdings's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB 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.


Axis Capital Holdings's Cyclically Adjusted PB Ratio Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Axis Capital Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Axis Capital Holdings's Cyclically Adjusted PB Ratio falls into.



Axis Capital Holdings Cyclically Adjusted Book 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 Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

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

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value 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 Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book 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, Axis Capital Holdings's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book= Book Value per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=53.83/131.7762*131.7762
=53.830

Current CPI (Mar. 2024) = 131.7762.

Axis Capital Holdings Quarterly Data

Book Value per Share CPI Adj_Book
201406 37.739 100.560 49.454
201409 39.949 100.428 52.419
201412 42.361 99.070 56.346
201503 49.320 99.621 65.239
201506 47.273 100.684 61.871
201509 48.224 100.392 63.300
201512 50.064 99.792 66.110
201603 51.474 100.470 67.513
201606 52.418 101.688 67.928
201609 54.410 101.861 70.389
201612 56.440 101.863 73.014
201703 56.035 102.862 71.786
201706 54.743 103.349 69.801
201709 47.215 104.136 59.747
201712 46.398 104.011 58.784
201803 43.594 105.290 54.561
201806 45.875 106.317 56.861
201809 46.126 106.507 57.070
201812 44.747 105.998 55.629
201903 47.713 107.251 58.624
201906 50.514 108.070 61.595
201909 52.036 108.329 63.299
201912 51.121 108.420 62.134
202003 46.052 108.902 55.725
202006 50.009 108.767 60.588
202009 47.490 109.815 56.987
202012 46.246 109.897 55.453
202103 45.853 111.754 54.068
202106 47.389 114.631 54.477
202109 47.979 115.734 54.629
202112 50.743 117.630 56.846
202203 48.666 121.301 52.869
202206 46.405 125.017 48.914
202209 45.253 125.227 47.620
202212 45.600 125.222 47.987
202303 48.357 127.348 50.039
202306 48.426 128.729 49.572
202309 49.289 129.860 50.016
202312 50.677 129.419 51.600
202403 53.830 131.776 53.830

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


Axis Capital Holdings  (FRA:AXV) Cyclically Adjusted Book per Share Explanation

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

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB 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 PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

Axis Capital Holdings's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=66.00/60.79
=1.09

* 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 PB Ratio of Axis Capital Holdings was 1.53. The lowest was 0.62. And the median was 1.12.


Be Aware

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


Axis Capital Holdings Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of Axis Capital Holdings's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Axis Capital Holdings (FRA:AXV) Business Description

Traded in Other Exchanges
Address
92 Pitts Bay Road, Pembroke, BMU, HM 08
Axis Capital Holdings Ltd is a property and casualty insurance company that provides various products and services to clients and distribution partners. The company has operating subsidiaries and branch networks based in Bermuda, the United States, Canada, Europe, and Singapore. Its business consists of two distinct global underwriting platforms, AXIS Insurance, and AXIS Reinsurance. The company manages its portfolio holistically, aiming to construct an optimum consolidated portfolio of funded and unfunded risks.

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