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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.
Kennedy-Wilson Holdings's adjusted book value per share for the three months ended in Dec. 2024 was $5.904. 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 $10.83 for the trailing ten years ended in Dec. 2024.
During the past 12 months, Kennedy-Wilson Holdings's average Cyclically Adjusted Book Growth Rate was -3.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 1.10% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 3.50% 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 Kennedy-Wilson Holdings was 5.80% per year. The lowest was 1.10% per year. And the median was 5.10% per year.
As of today (2025-03-26), Kennedy-Wilson Holdings's current stock price is $8.87. Kennedy-Wilson Holdings's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2024 was $10.83. Kennedy-Wilson Holdings's Cyclically Adjusted PB Ratio of today is 0.82.
During the past 13 years, the highest Cyclically Adjusted PB Ratio of Kennedy-Wilson Holdings was 2.51. The lowest was 0.73. And the median was 1.95.
The historical data trend for Kennedy-Wilson Holdings'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.
Kennedy-Wilson Holdings Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Sep24 | Dec24 | |
Cyclically Adjusted Book per Share | Get a 7-Day Free Trial |
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11.22 | 11.26 | 11.13 | 10.99 | 10.83 |
For the Real Estate Services subindustry, Kennedy-Wilson Holdings'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.
For the Real Estate industry and Real Estate sector, Kennedy-Wilson Holdings's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Kennedy-Wilson Holdings's Cyclically Adjusted PB Ratio falls into.
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, Kennedy-Wilson Holdings's adjusted Book Value per Share data for the three months ended in Dec. 2024 was:
Adj_Book | = | Book Value per Share | / | CPI of Dec. 2024 (Change) | * | Current CPI (Dec. 2024) |
= | 5.904 | / | 133.1571 | * | 133.1571 | |
= | 5.904 |
Current CPI (Dec. 2024) = 133.1571.
Kennedy-Wilson Holdings Quarterly Data
Book Value per Share | CPI | Adj_Book | |
201503 | 10.202 | 99.621 | 13.636 |
201506 | 9.880 | 100.684 | 13.067 |
201509 | 9.914 | 100.392 | 13.150 |
201512 | 9.899 | 99.792 | 13.209 |
201603 | 9.778 | 100.470 | 12.959 |
201606 | 9.528 | 101.688 | 12.477 |
201609 | 9.382 | 101.861 | 12.265 |
201612 | 9.055 | 101.863 | 11.837 |
201703 | 8.951 | 102.862 | 11.587 |
201706 | 8.996 | 103.349 | 11.591 |
201709 | 8.873 | 104.136 | 11.346 |
201712 | 9.010 | 104.011 | 11.535 |
201803 | 8.948 | 105.290 | 11.316 |
201806 | 8.797 | 106.317 | 11.018 |
201809 | 8.690 | 106.507 | 10.864 |
201812 | 8.706 | 105.998 | 10.937 |
201903 | 8.615 | 107.251 | 10.696 |
201906 | 8.743 | 108.070 | 10.773 |
201909 | 8.670 | 108.329 | 10.657 |
201912 | 9.724 | 108.420 | 11.943 |
202003 | 9.177 | 108.902 | 11.221 |
202006 | 8.730 | 108.767 | 10.688 |
202009 | 8.402 | 109.815 | 10.188 |
202012 | 9.545 | 109.897 | 11.565 |
202103 | 9.375 | 111.754 | 11.170 |
202106 | 10.670 | 114.631 | 12.394 |
202109 | 10.778 | 115.734 | 12.401 |
202112 | 10.746 | 117.630 | 12.165 |
202203 | 10.483 | 121.301 | 11.508 |
202206 | 9.964 | 125.017 | 10.613 |
202209 | 9.681 | 125.227 | 10.294 |
202212 | 9.953 | 125.222 | 10.584 |
202303 | 9.562 | 127.348 | 9.998 |
202306 | 9.785 | 128.729 | 10.122 |
202309 | 8.739 | 129.860 | 8.961 |
202312 | 6.957 | 129.419 | 7.158 |
202403 | 6.899 | 131.776 | 6.971 |
202406 | 6.401 | 132.554 | 6.430 |
202409 | 5.995 | 133.029 | 6.001 |
202412 | 5.904 | 133.157 | 5.904 |
Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.
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.
Kennedy-Wilson Holdings's Cyclically Adjusted PB Ratio of today is calculated as
Cyclically Adjusted PB Ratio | = | Share Price | / | Cyclically Adjusted Book per Share |
= | 8.87 | / | 10.83 | |
= | 0.82 |
* 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 Kennedy-Wilson Holdings was 2.51. The lowest was 0.73. And the median was 1.95.
Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.
Thank you for viewing the detailed overview of Kennedy-Wilson Holdings's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.
Stanley R Zax | director | ZENITH NATIONAL INSURANCE, 21255 CALIFA STREET, WOODLAND HILLS CA 91367 |
Cathy Hendrickson | director | 9701 WILSHIRE BLVD., SUITE 700, BEVERLY HILLS CA 90210 |
William J Mcmorrow | director, 10 percent owner, officer: Chief Executive Officer | 530 WILSHIRE BLVD, STE 101, SANTA MONICA CA 90401 |
Michael John Pegler | officer: President KW Europe | 151 S EL CAMINO DRIVE, BEVERLY HILLS CA 90212 |
Regina Wambold Finnegan | officer: EVP, Risk Management and HR | 151 S EL CAMINO DRIVE, BEVERLY HILLS CA 90212 |
Todd L Boehly | director | 600 STEAMBOAT ROAD, GREENWICH CT 06830 |
Boucher Richard Aidan Hugh | director | 151 S EL CAMINO DRIVE, BEVERLY HILLS CA 90212 |
Wade Burton | director | 151 S EL CAMINO DRIVE, BEVERLY HILLS CA 90212 |
Mary Ricks | officer: Co-CEO of KW Com Invt Group | |
Watsa V Prem Et Al | 10 percent owner | 95 WELLINGTON STREET WEST, SUITE 800, TORONTO A6 M5J 2N7 |
Fairfax Financial Holdings Ltd/ Can | 10 percent owner | FAIRFAX FINANCIAL HOLDINGS LTD, 95 WELLINGTON ST WEST STE 800, TORONTO A6 M5J 2N7 |
Sixty Two Investment Co Ltd | 10 percent owner | 1600 CATHEDRAL PLACE, 925 W GEORGIA ST, VANCOUVER BC CANADA A1 V6C3L3 |
Second 1109 Holdco Ltd. | 10 percent owner | 95 WELLINGTON ST W STE 800, TORONTO A6 M5J 2N7 |
Justin Enbody | officer: Chief Financial Officer | 9701 WILSHIRE BLVD., SUITE 700, BEVERLY HILLS CA 90212 |
Kent Y Mouton | director | C/O KENNEDY WILSON INC, 9601 WILSHIRE BLVD STE 220, BEVERLY HILLS CA 90210 |
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