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Henderson European Trust (LSE:HET) Cyclically Adjusted Book per Share : £1.73 (As of Sep. 2024)


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What is Henderson European Trust 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.

Henderson European Trust's adjusted book value per share data for the fiscal year that ended in Sep. 2024 was £2.014. 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 £1.73 for the trailing ten years ended in Sep. 2024.

During the past 12 months, Henderson European Trust's average Cyclically Adjusted Book Growth Rate was 7.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 10.60% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 10.70% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 9.30% 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 Henderson European Trust was 12.20% per year. The lowest was 7.20% per year. And the median was 8.80% per year.

As of today (2025-05-28), Henderson European Trust's current stock price is £ 1.934. Henderson European Trust's Cyclically Adjusted Book per Share for the fiscal year that ended in Sep. 2024 was £1.73. Henderson European Trust's Cyclically Adjusted PB Ratio of today is 1.12.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Henderson European Trust was 1.70. The lowest was 0.86. And the median was 1.21.


Henderson European Trust Cyclically Adjusted Book per Share Historical Data

The historical data trend for Henderson European Trust'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.

Henderson European Trust Cyclically Adjusted Book per Share Chart

Henderson European Trust Annual Data
Trend Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.14 1.28 1.45 1.61 1.73

Henderson European Trust Semi-Annual Data
Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 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 1.45 - 1.61 - 1.73

Competitive Comparison of Henderson European Trust's Cyclically Adjusted Book per Share

For the Asset Management subindustry, Henderson European Trust'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.


Henderson European Trust's Cyclically Adjusted PB Ratio Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Henderson European Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


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Henderson European Trust 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, Henderson European Trust's adjusted Book Value per Share data for the fiscal year that ended in Sep. 2024 was:

Adj_Book=Book Value per Share /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=2.014/133.5000*133.5000
=2.014

Current CPI (Sep. 2024) = 133.5000.

Henderson European Trust Annual Data

Book Value per Share CPI Adj_Book
201509 0.982 100.200 1.308
201609 1.153 101.500 1.517
201709 1.371 104.300 1.755
201809 1.367 106.600 1.712
201909 1.391 108.400 1.713
202009 1.441 109.200 1.762
202109 1.734 112.400 2.060
202209 1.477 122.300 1.612
202309 1.781 130.100 1.828
202409 2.014 133.500 2.014

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


Henderson European Trust  (LSE:HET) 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.

Henderson European Trust's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=1.934/1.73
=1.12

* 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 Henderson European Trust was 1.70. The lowest was 0.86. And the median was 1.21.


Be Aware

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


Henderson European Trust Cyclically Adjusted Book per Share Related Terms

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


Henderson European Trust Business Description

Traded in Other Exchanges
N/A
Address
201 Bishopsgate, Henderson Global Investors, London, GBR, EC2M 3AE
Henderson European Trust PLC aims to build a portfolio of champions listed in Europe. It invests in various sectors like Industrials, Healthcare, Technology, Financials, Consumer Discretionary, Consumer Staples, Energy, Basic Materials, Utilities, Telecommunications, Real Estate. The fund managers seek out pioneering companies that are leaders in their field. The company has various geographical segments: France, Germany, Switzerland, Netherlands. Its investment objective is to maximize total return from a portfolio of stocks predominantly listed in Europe, with maximum from France.

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