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Kweichow Moutai Co (SHSE:600519) Cyclically Adjusted Book per Share : ¥106.20 (As of Mar. 2024)


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What is Kweichow Moutai Co 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.

Kweichow Moutai Co's adjusted book value per share for the three months ended in Mar. 2024 was ¥190.839. 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 ¥106.20 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Kweichow Moutai Co's average Cyclically Adjusted Book Growth Rate was 14.80% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 18.20% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 20.00% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 22.90% 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 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 Kweichow Moutai Co was 29.20% per year. The lowest was 18.20% per year. And the median was 24.30% per year.

As of today (2024-06-15), Kweichow Moutai Co's current stock price is ¥1555.00. Kweichow Moutai Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was ¥106.20. Kweichow Moutai Co's Cyclically Adjusted PB Ratio of today is 14.64.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Kweichow Moutai Co was 42.02. The lowest was 7.44. And the median was 17.75.


Kweichow Moutai Co Cyclically Adjusted Book per Share Historical Data

The historical data trend for Kweichow Moutai Co'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.

Kweichow Moutai Co Cyclically Adjusted Book per Share Chart

Kweichow Moutai Co 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 51.63 61.90 74.64 89.05 102.11

Kweichow Moutai Co 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 92.49 95.22 99.29 102.11 106.20

Competitive Comparison of Kweichow Moutai Co's Cyclically Adjusted Book per Share

For the Beverages - Wineries & Distilleries subindustry, Kweichow Moutai Co'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.


Kweichow Moutai Co's Cyclically Adjusted PB Ratio Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Kweichow Moutai Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Kweichow Moutai Co's Cyclically Adjusted PB Ratio falls into.



Kweichow Moutai Co 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, Kweichow Moutai Co'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)
=190.839/115.2271*115.2271
=190.839

Current CPI (Mar. 2024) = 115.2271.

Kweichow Moutai Co Quarterly Data

Book Value per Share CPI Adj_Book
201406 36.043 98.200 42.293
201409 38.800 98.900 45.205
201412 42.533 99.000 49.505
201503 46.000 99.900 53.058
201506 48.801 99.500 56.515
201509 47.642 100.500 54.623
201512 50.888 100.600 58.287
201603 54.783 102.200 61.766
201606 51.727 101.400 58.781
201609 54.643 102.400 61.488
201612 58.027 102.600 65.168
201703 62.902 103.200 70.233
201706 60.200 103.100 67.281
201709 67.152 104.100 74.330
201712 72.800 104.500 80.273
201803 79.572 105.300 87.074
201806 74.349 104.900 81.668
201809 81.492 106.600 88.087
201812 90.008 106.500 97.384
201903 98.756 107.700 105.658
201906 91.351 107.700 97.735
201909 99.712 109.800 104.640
201912 108.271 111.200 112.192
202003 118.695 112.300 121.789
202006 109.239 110.400 114.015
202009 118.176 111.700 121.908
202012 128.421 111.500 132.714
202103 139.527 112.662 142.704
202106 128.752 111.769 132.735
202109 138.790 112.215 142.515
202112 150.883 113.108 153.710
202203 164.610 114.335 165.895
202206 152.924 114.558 153.817
202209 164.551 115.339 164.392
202212 157.204 115.116 157.356
202303 173.759 115.116 173.927
202306 159.940 114.558 160.874
202309 173.387 115.339 173.219
202312 171.683 114.781 172.350
202403 190.839 115.227 190.839

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


Kweichow Moutai Co  (SHSE:600519) 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.

Kweichow Moutai Co's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=1555.00/106.2
=14.64

* 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 Kweichow Moutai Co was 42.02. The lowest was 7.44. And the median was 17.75.


Be Aware

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


Kweichow Moutai Co Cyclically Adjusted Book per Share Related Terms

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


Kweichow Moutai Co (SHSE:600519) Business Description

Traded in Other Exchanges
N/A
Address
Guizhou Province, Maotai Town, Renhuai, CHN, 564501
Kweichow Moutai is one of China's leading liquor producers. The company was established in 1951 and its headquarters is located in Moutai Town, Guizhou province, southwest China. Its core product, 53-degree Feitian Moutai, is known as China's national drink and has been consumed during many high-profile historical and political events. Given its remarkable pricing power, premium product quality, and unparalleled brand strength, the company achieves the industry's highest retail prices and profit margins.
Executives
Wan Bo senior management

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