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KOSE (FRA:49K) Cyclically Adjusted Book per Share : €22.61 (As of Mar. 2024)


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What is KOSE 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.

KOSE's adjusted book value per share for the three months ended in Mar. 2024 was €29.215. 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 €22.61 for the trailing ten years ended in Mar. 2024.

During the past 12 months, KOSE's average Cyclically Adjusted Book Growth Rate was 10.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 11.60% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 10.30% 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 KOSE was 11.60% per year. The lowest was 7.80% per year. And the median was 11.00% per year.

As of today (2024-06-23), KOSE's current stock price is €62.50. KOSE's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was €22.61. KOSE's Cyclically Adjusted PB Ratio of today is 2.76.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of KOSE was 11.49. The lowest was 2.05. And the median was 5.43.


KOSE Cyclically Adjusted Book per Share Historical Data

The historical data trend for KOSE'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.

KOSE Cyclically Adjusted Book per Share Chart

KOSE Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 20.02 21.47 21.00 22.98 22.77

KOSE 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 22.66 21.54 22.03 22.77 22.61

Competitive Comparison of KOSE's Cyclically Adjusted Book per Share

For the Household & Personal Products subindustry, KOSE'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.


KOSE's Cyclically Adjusted PB Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, KOSE's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



KOSE 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, KOSE'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)
=29.215/107.2000*107.2000
=29.215

Current CPI (Mar. 2024) = 107.2000.

KOSE Quarterly Data

Book Value per Share CPI Adj_Book
201406 15.687 98.000 17.160
201409 16.002 98.500 17.415
201412 15.780 97.900 17.279
201503 18.844 97.900 20.634
201506 18.044 98.400 19.658
201509 19.358 98.500 21.068
201512 20.229 98.100 22.105
201603 20.545 97.900 22.497
201606 21.847 98.100 23.874
201609 22.963 98.000 25.119
201612 22.234 98.400 24.222
201703 23.778 98.100 25.984
201706 23.698 98.500 25.791
201709 22.429 98.800 24.336
201712 23.075 99.400 24.886
201803 24.679 99.200 26.669
201806 25.693 99.200 27.765
201809 26.774 99.900 28.730
201812 28.252 99.700 30.377
201903 29.149 99.700 31.342
201906 30.442 99.800 32.699
201909 32.587 100.100 34.898
201912 32.084 100.500 34.223
202003 32.953 100.300 35.220
202006 30.915 99.900 33.174
202009 30.381 99.900 32.601
202012 30.335 99.300 32.748
202103 30.547 99.900 32.779
202106 30.107 99.500 32.437
202109 31.380 100.100 33.606
202112 0.000 100.100 0.000
202203 32.118 101.100 34.056
202206 31.068 101.800 32.716
202209 31.576 103.100 32.832
202212 31.762 104.100 32.708
202303 31.658 104.400 32.507
202306 30.552 105.200 31.133
202309 29.763 106.200 30.043
202312 29.709 106.800 29.820
202403 29.215 107.200 29.215

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


KOSE  (FRA:49K) 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.

KOSE's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=62.50/22.61
=2.76

* 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 KOSE was 11.49. The lowest was 2.05. And the median was 5.43.


Be Aware

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


KOSE Cyclically Adjusted Book per Share Related Terms

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


KOSE (FRA:49K) Business Description

Traded in Other Exchanges
Address
3-6-2, Nihonbashi, Chuo-ku, Tokyo, JPN, 103-8251
Kose is the third-largest cosmetics company in Japan and the second in the premium segment, and is renowned for its prestige skincare brands including Decorte and Albion. The firm has been managed by the Kobayashi family since it was established in 1946. Albion, a fully consolidated subsidiary in which Kose holds a 79.5% stake, is operated independently by another branch of the Kobayashi family. The group, with a collection 37 brands/lines spanning a wide range of price points, has captured 13.6% of Japan's premium beauty segment, according to Euromonitor. Japan remains the largest market contributing nearly 57% of sales, followed by Asia (28%) and North America (14%). Its distribution channels include department stores, specialty retailers, drugstores, travel retailers, and e-commerce.

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