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Firm Capital Apartment REIT (TSXV:FCA.UN) Cyclically Adjusted Book per Share : C$15.35 (As of Jun. 2024)


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What is Firm Capital Apartment REIT 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.

Firm Capital Apartment REIT's adjusted book value per share for the three months ended in Jun. 2024 was C$8.886. 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 C$15.35 for the trailing ten years ended in Jun. 2024.

During the past 12 months, Firm Capital Apartment REIT's average Cyclically Adjusted Book Growth Rate was -6.80% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -4.60% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was -6.10% 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 Firm Capital Apartment REIT was -4.60% per year. The lowest was -8.40% per year. And the median was -6.65% per year.

As of today (2024-10-31), Firm Capital Apartment REIT's current stock price is C$5.01. Firm Capital Apartment REIT's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2024 was C$15.35. Firm Capital Apartment REIT's Cyclically Adjusted PB Ratio of today is 0.33.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Firm Capital Apartment REIT was 0.82. The lowest was 0.18. And the median was 0.34.


Firm Capital Apartment REIT Cyclically Adjusted Book per Share Historical Data

The historical data trend for Firm Capital Apartment REIT'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.

Firm Capital Apartment REIT Cyclically Adjusted Book per Share Chart

Firm Capital Apartment REIT 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 20.50 18.75 17.80 17.02 16.30

Firm Capital Apartment REIT Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 16.47 16.15 16.30 15.82 15.35

Competitive Comparison of Firm Capital Apartment REIT's Cyclically Adjusted Book per Share

For the REIT - Residential subindustry, Firm Capital Apartment REIT'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.


Firm Capital Apartment REIT's Cyclically Adjusted PB Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Firm Capital Apartment REIT's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Firm Capital Apartment REIT's Cyclically Adjusted PB Ratio falls into.



Firm Capital Apartment REIT 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, Firm Capital Apartment REIT's adjusted Book Value per Share data for the three months ended in Jun. 2024 was:

Adj_Book= Book Value per Share /CPI of Jun. 2024 (Change)*Current CPI (Jun. 2024)
=8.886/127.5217*127.5217
=8.886

Current CPI (Jun. 2024) = 127.5217.

Firm Capital Apartment REIT Quarterly Data

Book Value per Share CPI Adj_Book
201409 26.508 99.394 34.009
201412 23.883 98.367 30.962
201503 25.760 99.789 32.919
201506 17.191 100.500 21.813
201509 17.846 100.421 22.662
201512 16.750 99.947 21.371
201603 15.448 101.054 19.494
201606 14.290 102.002 17.865
201609 13.670 101.765 17.130
201612 10.817 101.449 13.597
201703 10.782 102.634 13.397
201706 10.431 103.029 12.911
201709 9.633 103.345 11.887
201712 10.158 103.345 12.534
201803 10.244 105.004 12.441
201806 10.626 105.557 12.837
201809 10.834 105.636 13.079
201812 11.566 105.399 13.994
201903 11.768 106.979 14.028
201906 11.880 107.690 14.068
201909 12.531 107.611 14.850
201912 12.366 107.769 14.632
202003 12.493 107.927 14.761
202006 12.320 108.401 14.493
202009 12.671 108.164 14.939
202012 12.606 108.559 14.808
202103 11.816 110.298 13.661
202106 11.551 111.720 13.185
202109 12.352 112.905 13.951
202112 12.988 113.774 14.557
202203 12.714 117.646 13.781
202206 11.044 120.806 11.658
202209 11.254 120.648 11.895
202212 11.098 120.964 11.700
202303 10.296 122.702 10.700
202306 9.673 124.203 9.931
202309 9.587 125.230 9.762
202312 9.423 125.072 9.608
202403 9.276 126.258 9.369
202406 8.886 127.522 8.886

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


Firm Capital Apartment REIT  (TSXV:FCA.UN) 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.

Firm Capital Apartment REIT's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=5.01/15.35
=0.33

* 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 Firm Capital Apartment REIT was 0.82. The lowest was 0.18. And the median was 0.34.


Be Aware

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


Firm Capital Apartment REIT Cyclically Adjusted Book per Share Related Terms

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


Firm Capital Apartment REIT Business Description

Industry
Traded in Other Exchanges
Address
163 Cartwright Avenue, Toronto, ON, CAN, M6A 1V5
Firm Capital Apartment REIT is a multi-residential real estate investment entity that pursues real estate and debt investments through two platforms namely Income Producing Real Estate Investments that acquire income-producing real estate assets in cities across the United States, and Mortgage Debt Investments that provide multi-residential real estate debt and equity lending platform in cities across the United States focused on providing all forms of bridge mortgage loans and joint venture capital. The Trust has a portfolio in two geographical areas; the U.S. Sunbelt which includes properties in Texas, Florida and Georgia. This represents 67% of the Investment Portfolio. The U.S. Northeast includes properties in New York, New Jersey, Maryland, and Connecticut.

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