Acino Holding AG (FRA:S3H) Cyclically Adjusted Book per Share : €0.00 (As of Dec. 2013)

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What is Acino Holding AG 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.

Acino Holding AG's adjusted book value per share data for the fiscal year that ended in Dec. 2013 was €78.922. 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 €0.00 for the trailing ten years ended in Dec. 2013.

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.

As of today (2024-06-09), Acino Holding AG's current stock price is € 93.92. Acino Holding AG's Cyclically Adjusted Book per Share for the fiscal year that ended in Dec. 2013 was €0.00. Acino Holding AG's Cyclically Adjusted PB Ratio of today is .

Acino Holding AG Cyclically Adjusted Book per Share Historical Data

The historical data trend for Acino Holding AG'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.

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Acino Holding AG Cyclically Adjusted Book per Share Chart

Acino Holding AG Annual Data

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Cyclically Adjusted Book per Share

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Acino Holding AG Semi-Annual Data
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Competitive Comparison of Acino Holding AG's Cyclically Adjusted Book per Share

For the Drug Manufacturers - General subindustry, Acino Holding AG'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.

Acino Holding AG's Cyclically Adjusted PB Ratio Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Acino Holding AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

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

Acino Holding AG Cyclically Adjusted Book per Share Calculation

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, Acino Holding AG's adjusted Book Value per Share data for the fiscal year that ended in Dec. 2013 was:

Adj_Book	=	Book Value per Share	/	CPI of Dec. 2013 (Change)	*	Current CPI (Dec. 2013)
	=	78.922	/	101.0356	*	101.0356
	=	78.922

Current CPI (Dec. 2013) = 101.0356.

Acino Holding AG Annual Data

	Book Value per Share	CPI	Adj_Book
200412	67.806	97.056	70.586
200512	54.980	98.033	56.664
200612	107.546	98.642	110.156
200712	59.957	100.619	60.205
200812	70.871	101.324	70.669
200912	80.433	101.610	79.978
201012	79.329	102.138	78.472
201112	74.395	101.408	74.122
201212	81.875	100.968	81.930
201312	78.922	101.036	78.922

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

Acino Holding AG (FRA:S3H) 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.

Be Aware

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

Acino Holding AG Cyclically Adjusted Book per Share Related Terms

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

Acino Holding AG (FRA:S3H) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Acino Holding AG (FRA:S3H) » Definitions » Cyclically Adjusted Book per Share

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Website

http://www.acino-pharma.com

Acino Holding AG is a Switzerland-based company engaged in the pharmaceutical industry. The Company develops, manufactures, and markets pharmaceuticals in novel drug delivery forms internationally. It is divided into four segments Business to Consumer (BtC); Business to Business (BtB); Technology marketing (TM); and Production (Prod). The BtC segment comprises all direct marketing activities. Under the company's "Acino Switzerland" brand and, with the promise of Swiss quality, the company sells its products in emerging markets around the globe. This reporting segment includes the business purchased from Mepha/Cephalon in the Middle East, Africa, Latin America and Asia. The BtB segment comprises Acino's business with its internally developed products, for which the company also owns the intellectual property rights. Acino develops and produces high-quality medicines with proven active ingredients and modern drug delivery systems and grants licenses for them to leading pharmaceutical and generic pharmaceutical companies worldwide. The technology marketing segment comprises a broad spectrum of fully integrated contract services, including procurement, contract development, production and packaging for companies in the life sciences industry. On behalf of these customers, Acino develops a comprehensive product pipeline on the basis of its special technological know-how. This includes both new types of medicines as well as projects with innovative drug delivery systems for established active ingredients. The production segment is responsible for the manufacturing of products and the supplying of the other three segments, and generates turnover through the reimbursement of its services. The manufacturing costs of products are credited to the production segment at standard prices along with remuneration in the form of a mark-up for materials and production costs.

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