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Yum Brands (FRA:TGR) Cyclically Adjusted PB Ratio : (As of Apr. 27, 2024)


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What is Yum Brands Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Yum Brands Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Yum Brands's Cyclically Adjusted PB Ratio 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.

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Yum Brands Cyclically Adjusted PB Ratio Chart

Yum Brands Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
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Yum Brands Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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Competitive Comparison of Yum Brands's Cyclically Adjusted PB Ratio

For the Restaurants subindustry, Yum Brands'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.


Yum Brands's Cyclically Adjusted PB Ratio Distribution in the Restaurants Industry

For the Restaurants industry and Consumer Cyclical sector, Yum Brands's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Yum Brands Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Yum Brands's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, Yum Brands's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book=Book Value per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=-25.643/129.4194*129.4194
=-25.643

Current CPI (Dec. 2023) = 129.4194.

Yum Brands Quarterly Data

Book Value per Share CPI Adj_Book
201403 3.721 99.695 4.830
201406 3.787 100.560 4.874
201409 4.443 100.428 5.726
201412 2.891 99.070 3.777
201503 3.643 99.621 4.733
201506 3.242 100.684 4.167
201509 3.771 100.392 4.861
201512 1.991 99.792 2.582
201603 0.344 100.470 0.443
201606 -0.888 101.688 -1.130
201609 -4.603 101.861 -5.848
201612 -14.994 101.863 -19.050
201703 -15.526 102.862 -19.535
201706 -15.741 103.349 -19.712
201709 -15.149 104.136 -18.827
201712 -16.121 104.011 -20.059
201803 -16.751 105.290 -20.590
201806 -19.446 106.317 -23.672
201809 -20.420 106.507 -24.813
201812 -22.768 105.998 -27.799
201903 -22.860 107.251 -27.585
201906 -23.272 108.070 -27.870
201909 -24.264 108.329 -28.988
201912 -24.048 108.420 -28.706
202003 -24.742 108.902 -29.404
202006 -23.920 108.767 -28.462
202009 -22.262 109.815 -26.236
202012 -21.621 109.897 -25.462
202103 -22.302 111.754 -25.827
202106 -22.132 114.631 -24.987
202109 -22.710 115.734 -25.395
202112 -25.641 117.630 -28.211
202203 -26.957 121.301 -28.761
202206 -28.440 125.017 -29.442
202209 -30.378 125.227 -31.395
202212 -29.925 125.222 -30.928
202303 -29.268 127.348 -29.744
202306 -27.809 128.729 -27.958
202309 -27.407 129.860 -27.314
202312 -25.643 129.419 -25.643

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


Yum Brands  (FRA:TGR) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Yum Brands Cyclically Adjusted PB Ratio Related Terms

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Yum Brands (FRA:TGR) Business Description

Address
1441 Gardiner Lane, Louisville, KY, USA, 40213
Yum Brands is a U.S.-based restaurant operator featuring a portfolio of four brands: KFC (27,760 global units at year-end 2022), Pizza Hut (19,034 units), Taco Bell (8,203 units), and The Habit Burger Grill (346 units). With $59 billion in 2022 systemwide sales, the firm is the second-largest restaurant company in the world behind McDonald's ($116 billion), ahead of Restaurant Brands International ($39 billion) and Starbucks ($27 billion). Yum is 98% franchised, with the largest franchisee, Yum China, spun out in 2016 (after which Yum China agreed to pay 3% royalties to Yum Brands in perpetuity). Yum is the newest evolution of Tricon, formerly a division of PepsiCo, and generates the bulk of its revenue from franchise royalties and marketing contributions.