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Meritage Homes (Meritage Homes) Cyclically Adjusted Book per Share : $66.73 (As of Mar. 2024)


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What is Meritage Homes 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.

Meritage Homes's adjusted book value per share for the three months ended in Mar. 2024 was $129.975. 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 $66.73 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Meritage Homes's average Cyclically Adjusted Book Growth Rate was 18.20% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 22.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 19.80% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 10.20% 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 Meritage Homes was 38.20% per year. The lowest was -1.00% per year. And the median was 8.00% per year.

As of today (2024-05-15), Meritage Homes's current stock price is $186.43. Meritage Homes's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was $66.73. Meritage Homes's Cyclically Adjusted PB Ratio of today is 2.79.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Meritage Homes was 3.40. The lowest was 1.02. And the median was 1.81.


Meritage Homes Cyclically Adjusted Book per Share Historical Data

The historical data trend for Meritage Homes'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.

Meritage Homes Cyclically Adjusted Book per Share Chart

Meritage Homes 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 30.36 34.96 42.99 53.41 64.29

Meritage Homes 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 56.44 59.27 62.10 64.29 66.73

Competitive Comparison of Meritage Homes's Cyclically Adjusted Book per Share

For the Residential Construction subindustry, Meritage Homes'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.


Meritage Homes's Cyclically Adjusted PB Ratio Distribution in the Homebuilding & Construction Industry

For the Homebuilding & Construction industry and Consumer Cyclical sector, Meritage Homes's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Meritage Homes's Cyclically Adjusted PB Ratio falls into.



Meritage Homes 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, Meritage Homes'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)
=129.975/129.4194*129.4194
=129.975

Current CPI (Mar. 2024) = 129.4194.

Meritage Homes Quarterly Data

Book Value per Share CPI Adj_Book
201406 26.081 100.560 33.566
201409 27.008 100.428 34.805
201412 28.342 99.070 37.024
201503 28.657 99.621 37.229
201506 29.458 100.684 37.865
201509 30.320 100.392 39.087
201512 31.736 99.792 41.158
201603 32.119 100.470 41.374
201606 33.155 101.688 42.197
201609 34.164 101.861 43.407
201612 35.510 101.863 45.116
201703 35.927 102.862 45.203
201706 37.015 103.349 46.352
201709 38.167 104.136 47.434
201712 39.097 104.011 48.648
201803 40.001 105.290 49.168
201806 41.401 106.317 50.397
201809 42.848 106.507 52.066
201812 45.197 105.998 55.184
201903 45.554 107.251 54.970
201906 46.989 108.070 56.272
201909 48.919 108.329 58.443
201912 51.676 108.420 61.685
202003 52.949 108.902 62.925
202006 55.436 108.767 65.962
202009 58.488 109.815 68.929
202012 62.590 109.897 73.709
202103 65.440 111.754 75.784
202106 69.810 114.631 78.816
202109 75.230 115.734 84.126
202112 81.530 117.630 89.702
202203 86.342 121.301 92.121
202206 93.321 125.017 96.607
202209 100.675 125.227 104.046
202212 107.997 125.222 111.617
202303 110.626 127.348 112.426
202306 115.552 128.729 116.172
202309 121.291 129.860 120.880
202312 126.614 129.419 126.614
202403 129.975 129.419 129.975

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


Meritage Homes  (NYSE:MTH) 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.

Meritage Homes's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=186.43/66.73
=2.79

* 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 Meritage Homes was 3.40. The lowest was 1.02. And the median was 1.81.


Be Aware

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


Meritage Homes Cyclically Adjusted Book per Share Related Terms

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


Meritage Homes (Meritage Homes) Business Description

Traded in Other Exchanges
Address
8800 East Raintree Drive, Suite 300, Scottsdale, AZ, USA, 85260
Meritage Homes Corp is engaged as a designer and builder of single-family attached and detached homes. It has operations in three regions: West, Central, and East, which are comprised of ten states: Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina, Tennessee, and Utah. The company operates with two principal business segments; homebuilding and financial services. The homebuilding segments are engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes and providing warranty and customer services and the financial services segment offer title and escrow, mortgage, and insurance services. The company generates key revenue from the homebuilding segment.
Executives
Phillippe Lord officer: EXECUTIVE VICE PRESIDENT 8800 EAST RAINTREE DRIVE, SUITE 300, SCOTTSDALE AZ 85260
Peter L Ax director
Alison Sasser officer: SVP - Chief Accounting Officer 8800 E RAINTREE DRIVE, SUITE 300, SCOTTSDALE AZ 85260
Hilla Sferruzza officer: Chief Accounting Officer 8800 EAST RAINTREE DRIVE, SUITE 300, SCOTTSDALE AZ 85260
Javier Feliciano officer: EVP Chief Human Resources Off 8800 EAST RAINTREE DRIVE, SUITE 300, SCOTTSDALE AZ 85260
Dennis V Arriola director 162 CANCO ROAD, PORTLAND ME 04103
R. Odell Michael director 3111 WEST ALLEGHENY AVENUE, PHILADELPHIA PA 19130
Gerald W Haddock director C/O ENSCO, 5847 SAN FELIPE, HOUSTON TX 77057
Raymond Oppel director
Steven J Hilton officer: Chief Executive Officer 6613 N SCOTTSDALE RD, SCOTTSDALE AZ 85250
Clinton Szubinski officer: EVP - Chief Operating Officer 8800 E RAINTREE DRIVE, SCOTTSDALE AZ 85260
Malissia Clinton officer: EVP - Gen. Counsel, Secretary 333 THREE D SYSTEMS CIRCLE, ROCK HILL SC 29730
Louis E Caldera director C/O BELO CORP, PO BOX 655237, DALLAS TX 75265-5237
C Timothy White officer: EVP - Gen. Counsel, Secretary
Dana Bradford director BALLANTYNE OF OMAHA INC, 4350 MCKINLEY STREET, OMAHA NE 68112

Meritage Homes (Meritage Homes) Headlines

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