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Infosys (NSE:INFY) Cyclically Adjusted Book per Share : ₹202.41 (As of Dec. 2024)


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What is Infosys 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.

Infosys's adjusted book value per share for the three months ended in Dec. 2024 was ₹211.433. 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 ₹202.41 for the trailing ten years ended in Dec. 2024.

During the past 12 months, Infosys's average Cyclically Adjusted Book Growth Rate was 5.30% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 7.60% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 8.50% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 11.80% 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 Infosys was 34.00% per year. The lowest was 7.60% per year. And the median was 14.60% per year.

As of today (2025-05-30), Infosys's current stock price is ₹1562.70. Infosys's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2024 was ₹202.41. Infosys's Cyclically Adjusted PB Ratio of today is 7.72.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Infosys was 11.58. The lowest was 4.13. And the median was 6.83.


Infosys Cyclically Adjusted Book per Share Historical Data

The historical data trend for Infosys'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.

Infosys Cyclically Adjusted Book per Share Chart

Infosys Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 155.21 168.61 182.32 193.29 -

Infosys 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 193.29 197.52 201.18 202.41 -

Competitive Comparison of Infosys's Cyclically Adjusted Book per Share

For the Information Technology Services subindustry, Infosys'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.


Infosys's Cyclically Adjusted PB Ratio Distribution in the Software Industry

For the Software industry and Technology sector, Infosys's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


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Infosys 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, Infosys'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)
=211.433/158.3229*158.3229
=211.433

Current CPI (Dec. 2024) = 158.3229.

Infosys Quarterly Data

Book Value per Share CPI Adj_Book
201503 119.761 97.163 195.146
201506 118.068 99.841 187.227
201509 126.551 101.753 196.907
201512 127.688 102.901 196.460
201603 136.438 102.518 210.706
201606 133.552 105.961 199.548
201609 142.000 105.961 212.171
201612 143.047 105.196 215.290
201703 153.112 105.196 230.438
201706 149.568 107.109 221.084
201709 156.308 109.021 226.993
201712 141.074 109.404 204.154
201803 149.047 109.786 214.941
201806 138.210 111.317 196.573
201809 149.429 115.142 205.468
201812 151.704 115.142 208.597
201903 150.503 118.202 201.588
201906 132.915 120.880 174.086
201909 143.598 123.175 184.574
201912 143.060 126.235 179.424
202003 151.988 124.705 192.961
202006 156.133 127.000 194.641
202009 166.768 130.118 202.917
202012 170.026 130.889 205.663
202103 179.118 131.771 215.211
202106 167.703 134.084 198.019
202109 164.940 135.847 192.229
202112 167.350 138.161 191.772
202203 180.634 138.822 206.009
202206 173.832 142.347 193.341
202209 188.022 144.661 205.779
202212 177.492 145.763 192.786
202303 182.417 146.865 196.649
202306 180.188 150.280 189.831
202309 195.089 151.492 203.886
202312 193.432 152.924 200.261
202403 211.747 153.035 219.064
202406 200.621 155.789 203.884
202409 218.262 157.882 218.871
202412 211.433 158.323 211.433

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


Infosys  (NSE:INFY) 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.

Infosys's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=1562.70/202.41
=7.72

* 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 Infosys was 11.58. The lowest was 4.13. And the median was 6.83.


Be Aware

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


Infosys Cyclically Adjusted Book per Share Related Terms

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


Infosys Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Software » Infosys Ltd (NSE:INFY) » Definitions » Cyclically Adjusted Book per Share
Address
44, Infosys Avenue, Hosur Road, Electronics City, Bengaluru, KA, IND, 560 100
Infosys is a leading global IT services provider, with over 320,000 employees. Based in Bengaluru, the Indian IT services firm leverages its offshore outsourcing model to derive 60% of its revenue from North America. The company offers traditional IT services offerings: consulting, managed services and cloud infrastructure services, and business process outsourcing as a service.