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Itau Unibanco Holding (MEX:ITUB N) Cyclically Adjusted Book per Share : MXN70.32 (As of Mar. 2025)


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What is Itau Unibanco Holding 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.

Itau Unibanco Holding's adjusted book value per share for the three months ended in Mar. 2025 was MXN66.271. 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 MXN70.32 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Itau Unibanco Holding's average Cyclically Adjusted Book Growth Rate was 7.70% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 7.30% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 8.40% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 7.80% 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 Itau Unibanco Holding was 15.80% per year. The lowest was 4.60% per year. And the median was 8.95% per year.

As of today (2025-06-30), Itau Unibanco Holding's current stock price is MXN124.36. Itau Unibanco Holding's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 was MXN70.32. Itau Unibanco Holding's Cyclically Adjusted PB Ratio of today is 1.77.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Itau Unibanco Holding was 2.70. The lowest was 1.22. And the median was 1.78.


Itau Unibanco Holding Cyclically Adjusted Book per Share Historical Data

The historical data trend for Itau Unibanco Holding'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.

Itau Unibanco Holding Cyclically Adjusted Book per Share Chart

Itau Unibanco Holding Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 53.68 56.02 61.84 63.51 65.14

Itau Unibanco Holding Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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 58.69 63.41 67.67 65.14 70.32

Competitive Comparison of Itau Unibanco Holding's Cyclically Adjusted Book per Share

For the Banks - Regional subindustry, Itau Unibanco Holding'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.


Itau Unibanco Holding's Cyclically Adjusted PB Ratio Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Itau Unibanco Holding's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


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Itau Unibanco Holding 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, Itau Unibanco Holding's adjusted Book Value per Share data for the three months ended in Mar. 2025 was:

Adj_Book= Book Value per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=66.271/168.1016*168.1016
=66.271

Current CPI (Mar. 2025) = 168.1016.

Itau Unibanco Holding Quarterly Data

Book Value per Share CPI Adj_Book
201506 48.183 100.006 80.991
201509 43.994 101.392 72.939
201512 46.278 104.247 74.625
201603 48.921 106.979 76.872
201606 59.019 108.851 91.145
201609 61.144 109.986 93.452
201612 68.698 110.802 104.224
201703 68.317 111.869 102.657
201706 64.427 112.115 96.600
201709 70.938 112.777 105.738
201712 73.413 114.068 108.189
201803 63.679 114.868 93.190
201806 61.612 117.038 88.494
201809 55.335 117.881 78.909
201812 64.679 118.340 91.876
201903 58.793 120.124 82.275
201906 60.389 120.977 83.912
201909 57.847 121.292 80.171
201912 58.690 123.436 79.927
202003 58.009 124.092 78.582
202006 54.552 123.557 74.219
202009 51.743 125.095 69.532
202012 51.485 129.012 67.084
202103 49.654 131.660 63.397
202106 52.751 133.871 66.240
202109 53.443 137.913 65.142
202112 51.547 141.992 61.025
202203 56.735 146.537 65.084
202206 58.123 149.784 65.231
202209 58.666 147.800 66.724
202212 57.821 150.207 64.709
202303 55.074 153.352 60.371
202306 58.603 154.519 63.754
202309 60.065 155.464 64.948
202312 61.092 157.148 65.350
202403 57.351 159.372 60.492
202406 61.180 161.052 63.858
202409 66.467 162.342 68.825
202412 67.102 164.740 68.471
202503 66.271 168.102 66.271

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


Itau Unibanco Holding  (MEX:ITUB N) 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.

Itau Unibanco Holding's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=124.36/70.32
=1.77

* 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 Itau Unibanco Holding was 2.70. The lowest was 1.22. And the median was 1.78.


Be Aware

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


Itau Unibanco Holding Cyclically Adjusted Book per Share Related Terms

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


Itau Unibanco Holding Business Description

Address
Praca Alfredo Egydio de Souza Aranha, 100, Torre Olavo Setubal, Parque Jabaquara, Sao Paulo, SP, BRA, 04344-902
Itaú Unibanco is the largest privately held bank in Brazil, the result of the 2008 merger between Banco Itaú and Unibanco. In addition to Brazil, the bank has significant operations in Chile, Colombia, Argentina, Uruguay, and Paraguay. Itaú's commercial and consumer loans account for 35% and 43% of the bank's total loans, respectively, while foreign loans account for 22% of its portfolio. The bank also operates the fifth-largest insurer in Brazil and is the second-largest asset manager in the country, giving it broad reach over the Brazilian financial system.

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