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Harboes Bryggeri AS (OCSE:HARB B) Cyclically Adjusted Book per Share : kr180.37 (As of Apr. 2025)


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What is Harboes Bryggeri AS 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.

Harboes Bryggeri AS's adjusted book value per share for the three months ended in Apr. 2025 was kr181.897. 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 kr180.37 for the trailing ten years ended in Apr. 2025.

During the past 12 months, Harboes Bryggeri AS's average Cyclically Adjusted Book Growth Rate was 2.10% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 2.10% 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 Harboes Bryggeri AS was 3.60% per year. The lowest was 2.10% per year. And the median was 2.85% per year.

As of today (2025-07-19), Harboes Bryggeri AS's current stock price is kr140.20. Harboes Bryggeri AS's Cyclically Adjusted Book per Share for the quarter that ended in Apr. 2025 was kr180.37. Harboes Bryggeri AS's Cyclically Adjusted PB Ratio of today is 0.78.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Harboes Bryggeri AS was 1.44. The lowest was 0.34. And the median was 0.47.


Harboes Bryggeri AS Cyclically Adjusted Book per Share Historical Data

The historical data trend for Harboes Bryggeri AS'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.

Harboes Bryggeri AS Cyclically Adjusted Book per Share Chart

Harboes Bryggeri AS Annual Data
Trend Apr16 Apr17 Apr18 Apr19 Apr20 Apr21 Apr22 Apr23 Apr24 Apr25
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 158.98 169.63 176.36 176.62 180.37

Harboes Bryggeri AS Quarterly Data
Jul20 Oct20 Jan21 Apr21 Jul21 Oct21 Jan22 Apr22 Jul22 Oct22 Jan23 Apr23 Jul23 Oct23 Jan24 Apr24 Jul24 Oct24 Jan25 Apr25
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 176.62 178.74 178.60 179.16 180.37

Competitive Comparison of Harboes Bryggeri AS's Cyclically Adjusted Book per Share

For the Beverages - Brewers subindustry, Harboes Bryggeri AS'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.


Harboes Bryggeri AS's Cyclically Adjusted PB Ratio Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Harboes Bryggeri AS's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


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Harboes Bryggeri AS 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, Harboes Bryggeri AS's adjusted Book Value per Share data for the three months ended in Apr. 2025 was:

Adj_Book= Book Value per Share /CPI of Apr. 2025 (Change)*Current CPI (Apr. 2025)
=181.897/120.3000*120.3000
=181.897

Current CPI (Apr. 2025) = 120.3000.

Harboes Bryggeri AS Quarterly Data

Book Value per Share CPI Adj_Book
201304 140.667 99.100 170.759
201307 142.005 98.800 172.907
201310 141.582 99.300 171.524
201401 129.887 98.900 157.992
201404 134.223 99.800 161.794
201407 136.382 99.500 164.892
201410 152.168 99.800 183.425
201501 151.415 98.800 184.365
201504 152.268 100.300 182.631
201507 155.691 100.200 186.922
201510 158.563 100.100 190.561
201604 161.392 100.300 193.574
201610 164.789 100.400 197.451
201704 166.167 101.400 197.139
201710 165.699 101.900 195.619
201804 164.442 102.200 193.565
201810 179.374 102.700 210.114
201904 167.591 103.200 195.360
201910 165.987 103.300 193.303
202004 159.547 103.200 185.984
202007 0.000 104.000 0.000
202010 160.975 103.700 186.743
202101 0.000 103.600 0.000
202104 160.970 104.700 184.954
202107 163.249 105.700 185.798
202110 164.077 106.800 184.817
202201 159.879 108.100 177.923
202204 161.227 111.700 173.640
202207 160.419 114.900 167.958
202210 157.832 117.600 161.456
202301 158.082 116.400 163.379
202304 160.216 117.600 163.894
202307 165.084 118.500 167.592
202310 167.509 117.700 171.209
202401 169.816 117.800 173.420
202404 173.234 118.500 175.865
202407 178.726 119.800 179.472
202410 180.422 119.600 181.478
202501 181.764 119.600 182.828
202504 181.897 120.300 181.897

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


Harboes Bryggeri AS  (OCSE:HARB B) 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.

Harboes Bryggeri AS's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=140.20/180.37
=0.78

* 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 Harboes Bryggeri AS was 1.44. The lowest was 0.34. And the median was 0.47.


Be Aware

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


Harboes Bryggeri AS Cyclically Adjusted Book per Share Related Terms

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


Harboes Bryggeri AS Business Description

Traded in Other Exchanges
Address
Spegerborgvej 34, Skaelskor, DNK, 4230
Harboes Bryggeri AS is a Denmark-based company which is engaged in the production and sale of alcoholic and non-alcoholic beverages. The product portfolio of the company includes beer, soft drinks, non-alcoholic malt and dark malt, energy drinks, juices, ciders, water, and others. Harboes has its presence in Denmark, Germany, and other countries. The majority of the company's revenue comes from Germany.

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