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Apple Flavor & Fragrance Group Co (SHSE:603020) Cyclically Adjusted Book per Share : ¥6.88 (As of Mar. 2024)


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What is Apple Flavor & Fragrance Group Co 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.

Apple Flavor & Fragrance Group Co's adjusted book value per share for the three months ended in Mar. 2024 was ¥8.281. 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 ¥6.88 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Apple Flavor & Fragrance Group Co's average Cyclically Adjusted Book Growth Rate was 6.70% 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.

As of today (2024-06-10), Apple Flavor & Fragrance Group Co's current stock price is ¥6.86. Apple Flavor & Fragrance Group Co's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was ¥6.88. Apple Flavor & Fragrance Group Co's Cyclically Adjusted PB Ratio of today is 1.00.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Apple Flavor & Fragrance Group Co was 1.50. The lowest was 0.94. And the median was 1.35.


Apple Flavor & Fragrance Group Co Cyclically Adjusted Book per Share Historical Data

The historical data trend for Apple Flavor & Fragrance Group Co'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.

Apple Flavor & Fragrance Group Co Cyclically Adjusted Book per Share Chart

Apple Flavor & Fragrance Group Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - - - - 6.82

Apple Flavor & Fragrance Group Co Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 6.45 6.56 6.73 6.82 6.88

Competitive Comparison of Apple Flavor & Fragrance Group Co's Cyclically Adjusted Book per Share

For the Specialty Chemicals subindustry, Apple Flavor & Fragrance Group Co'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.


Apple Flavor & Fragrance Group Co's Cyclically Adjusted PB Ratio Distribution in the Chemicals Industry

For the Chemicals industry and Basic Materials sector, Apple Flavor & Fragrance Group Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Apple Flavor & Fragrance Group Co's Cyclically Adjusted PB Ratio falls into.



Apple Flavor & Fragrance Group Co 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, Apple Flavor & Fragrance Group Co's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book= Book Value per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=8.281/115.2271*115.2271
=8.281

Current CPI (Mar. 2024) = 115.2271.

Apple Flavor & Fragrance Group Co Quarterly Data

Book Value per Share CPI Adj_Book
201406 0.000 98.200 0.000
201409 3.535 98.900 4.119
201412 3.653 99.000 4.252
201503 5.251 99.900 6.057
201506 5.273 99.500 6.106
201509 5.415 100.500 6.209
201512 5.515 100.600 6.317
201603 5.701 102.200 6.428
201606 5.472 101.400 6.218
201609 5.604 102.400 6.306
201612 5.715 102.600 6.418
201703 5.829 103.200 6.508
201706 5.770 103.100 6.449
201709 5.899 104.100 6.530
201712 5.933 104.500 6.542
201803 6.010 105.300 6.577
201806 5.950 104.900 6.536
201809 6.082 106.600 6.574
201812 6.206 106.500 6.715
201903 6.298 107.700 6.738
201906 6.325 107.700 6.767
201909 6.486 109.800 6.807
201912 6.463 111.200 6.697
202003 6.668 112.300 6.842
202006 6.719 110.400 7.013
202009 6.843 111.700 7.059
202012 6.830 111.500 7.058
202103 7.136 112.662 7.299
202106 7.168 111.769 7.390
202109 6.091 112.215 6.254
202112 8.006 113.108 8.156
202203 8.192 114.335 8.256
202206 8.101 114.558 8.148
202209 8.028 115.339 8.020
202212 8.008 115.116 8.016
202303 8.113 115.116 8.121
202306 8.144 114.558 8.192
202309 8.192 115.339 8.184
202312 8.193 114.781 8.225
202403 8.281 115.227 8.281

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


Apple Flavor & Fragrance Group Co  (SHSE:603020) 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.

Apple Flavor & Fragrance Group Co's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=6.86/6.88
=1.00

* 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 Apple Flavor & Fragrance Group Co was 1.50. The lowest was 0.94. And the median was 1.35.


Be Aware

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


Apple Flavor & Fragrance Group Co Cyclically Adjusted Book per Share Related Terms

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


Apple Flavor & Fragrance Group Co (SHSE:603020) Business Description

Traded in Other Exchanges
N/A
Address
733 Gaoping Road, Jing'an District, Shanghai, CHN, 200436
Apple Flavor & Fragrance Group Co Ltd is engaged in the development, manufacture, and sale of spices, flavors, and food ingredients. Its main products include spices which include synthetic and natural flavors, flavors (including food flavors and daily flavors) and industrial Cree which mainly include chocolate for frozen drinks and chocolate for baking, widely used in food, beverages, cigarettes, daily chemicals. It also engaged in the distribution of internationally renowned brands of butter, cheese, whipped cream, chocolate, cocoa, fruit products and other food ingredients.
Executives
Xu Yao Zhong Director
Wei Zhong Hao Director
Mei Guo You Director
Fei Wen Yao Director
Wang Sheng Wen senior management
Hu Yong Cheng Director
Zhang Li Hua Supervisors
Du Yi Supervisors

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