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Koc Holding AS (FRA:KRKA) Cyclically Adjusted Book per Share : €5.33 (As of Sep. 2024)


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What is Koc Holding AS 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.

Koc Holding AS's adjusted book value per share for the three months ended in Sep. 2024 was €26.636. 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 €5.33 for the trailing ten years ended in Sep. 2024.

During the past 12 months, Koc Holding AS's average Cyclically Adjusted Book Growth Rate was 72.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 39.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 27.80% 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 Koc Holding AS was 39.50% per year. The lowest was 12.40% per year. And the median was 21.70% per year.

As of today (2025-01-18), Koc Holding AS's current stock price is €23.20. Koc Holding AS's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2024 was €5.33. Koc Holding AS's Cyclically Adjusted PB Ratio of today is 4.35.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Koc Holding AS was 7.44. The lowest was 1.39. And the median was 2.27.


Koc Holding AS Cyclically Adjusted Book per Share Historical Data

The historical data trend for Koc Holding AS'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.

Koc Holding AS Cyclically Adjusted Book per Share Chart

Koc Holding AS 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 6.57 5.68 4.57 4.47 4.23

Koc Holding AS Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 4.00 4.23 4.75 5.26 5.33

Competitive Comparison of Koc Holding AS's Cyclically Adjusted Book per Share

For the Conglomerates subindustry, Koc Holding AS'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.


Koc Holding AS's Cyclically Adjusted PB Ratio Distribution in the Conglomerates Industry

For the Conglomerates industry and Industrials sector, Koc Holding AS's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Koc Holding AS 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, Koc Holding AS's adjusted Book Value per Share data for the three months ended in Sep. 2024 was:

Adj_Book= Book Value per Share /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=26.636/133.0289*133.0289
=26.636

Current CPI (Sep. 2024) = 133.0289.

Koc Holding AS Quarterly Data

Book Value per Share CPI Adj_Book
201412 14.179 99.070 19.039
201503 14.168 99.621 18.919
201506 13.553 100.684 17.907
201509 12.542 100.392 16.619
201512 14.340 99.792 19.116
201603 14.506 100.470 19.207
201606 14.375 101.688 18.805
201609 14.702 101.861 19.201
201612 13.805 101.863 18.029
201703 13.174 102.862 17.038
201706 13.786 103.349 17.745
201709 13.713 104.136 17.518
201712 12.994 104.011 16.619
201803 12.022 105.290 15.189
201806 11.196 106.317 14.009
201809 8.609 106.507 10.753
201812 10.850 105.998 13.617
201903 10.385 107.251 12.881
201906 10.230 108.070 12.593
201909 10.913 108.329 13.401
201912 11.002 108.420 13.499
202003 11.249 108.902 13.741
202006 10.460 108.767 12.793
202009 9.695 109.815 11.744
202012 9.739 109.897 11.789
202103 10.736 111.754 12.780
202106 9.718 114.631 11.278
202109 10.830 115.734 12.448
202112 8.194 117.630 9.267
202203 9.058 121.301 9.934
202206 10.956 125.017 11.658
202209 13.420 125.227 14.256
202212 36.498 125.222 38.774
202303 15.377 127.348 16.063
202306 13.867 128.729 14.330
202309 14.657 129.860 15.015
202312 25.174 129.419 25.876
202403 26.090 131.776 26.338
202406 26.762 132.554 26.858
202409 26.636 133.029 26.636

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


Koc Holding AS  (FRA:KRKA) 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.

Koc Holding AS's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=23.20/5.33
=4.35

* 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 Koc Holding AS was 7.44. The lowest was 1.39. And the median was 2.27.


Be Aware

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


Koc Holding AS Cyclically Adjusted Book per Share Related Terms

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


Koc Holding AS Business Description

Industry
Traded in Other Exchanges
Address
Nakkastepe Azizbey Sokak No.1, Kuzguncuk-Uskuda, Uskudar, Istanbul, TUR, 34674
Koc Holding is a Turkish conglomerate. The group's businesses operate in the energy refining, fuel distribution, liquefied petroleum gas distribution, power generation, natural gas, automotive, automotive retailing, farm tractors, defense, white goods, consumer electronics, air conditioning, banking, leasing, REIT, factoring, brokerage, asset-management, consumer finance, food production, food production distribution, do-it-yourself retailing, tourism, marina operations, information technology, and ship and yacht construction industries. The company operates five core business segments Energy, Automotive, Consumer durables, Finance and Other. The largest segment by sales is energy, containing the fuel distribution, refining, and power generation businesses.

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