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China National Accord Medicines (SZSE:000028) Cyclically Adjusted Book per Share : ¥21.20 (As of Dec. 2023)


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What is China National Accord Medicines 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.

China National Accord Medicines's adjusted book value per share for the three months ended in Dec. 2023 was ¥31.290. 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 ¥21.20 for the trailing ten years ended in Dec. 2023.

During the past 12 months, China National Accord Medicines's average Cyclically Adjusted Book Growth Rate was 12.20% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 15.10% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 17.60% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 23.50% 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 China National Accord Medicines was 31.60% per year. The lowest was 7.40% per year. And the median was 20.30% per year.

As of today (2024-04-24), China National Accord Medicines's current stock price is ¥34.95. China National Accord Medicines's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was ¥21.20. China National Accord Medicines's Cyclically Adjusted PB Ratio of today is 1.65.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of China National Accord Medicines was 18.92. The lowest was 1.23. And the median was 4.08.


China National Accord Medicines Cyclically Adjusted Book per Share Historical Data

The historical data trend for China National Accord Medicines'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.

China National Accord Medicines Cyclically Adjusted Book per Share Chart

China National Accord Medicines 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 11.78 13.90 16.33 18.90 21.20

China National Accord Medicines Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 18.90 19.49 19.98 20.71 21.20

Competitive Comparison of China National Accord Medicines's Cyclically Adjusted Book per Share

For the Medical Distribution subindustry, China National Accord Medicines'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.


China National Accord Medicines's Cyclically Adjusted PB Ratio Distribution in the Medical Distribution Industry

For the Medical Distribution industry and Healthcare sector, China National Accord Medicines's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where China National Accord Medicines's Cyclically Adjusted PB Ratio falls into.



China National Accord Medicines 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, China National Accord Medicines's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book= Book Value per Share /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=31.29/114.6694*114.6694
=31.290

Current CPI (Dec. 2023) = 114.6694.

China National Accord Medicines Quarterly Data

Book Value per Share CPI Adj_Book
201403 9.210 98.600 10.711
201406 9.456 98.200 11.042
201409 9.689 98.900 11.234
201412 10.107 99.000 11.707
201503 10.525 99.900 12.081
201506 10.775 99.500 12.418
201509 11.171 100.500 12.746
201512 15.597 100.600 17.778
201603 11.990 102.200 13.453
201606 12.487 101.400 14.121
201609 12.870 102.400 14.412
201612 17.930 102.600 20.039
201703 15.672 103.200 17.414
201706 15.927 103.100 17.714
201709 16.367 104.100 18.029
201712 16.883 104.500 18.526
201803 17.409 105.300 18.958
201806 17.806 104.900 19.464
201809 19.793 106.600 21.291
201812 20.875 106.500 22.476
201903 21.415 107.700 22.801
201906 21.813 107.700 23.225
201909 22.373 109.800 23.365
201912 23.198 111.200 23.922
202003 23.470 112.300 23.965
202006 23.717 110.400 24.634
202009 24.353 111.700 25.000
202012 25.061 111.500 25.773
202103 25.652 112.662 26.109
202106 25.778 111.769 26.447
202109 26.375 112.215 26.952
202112 26.816 113.108 27.186
202203 27.269 114.335 27.349
202206 27.566 114.558 27.593
202209 28.237 115.339 28.073
202212 28.974 115.116 28.862
202303 29.625 115.116 29.510
202306 29.850 114.558 29.879
202309 30.496 115.339 30.319
202312 31.290 114.669 31.290

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


China National Accord Medicines  (SZSE:000028) 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.

China National Accord Medicines's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=34.95/21.2
=1.65

* 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 China National Accord Medicines was 18.92. The lowest was 1.23. And the median was 4.08.


Be Aware

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


China National Accord Medicines Cyclically Adjusted Book per Share Related Terms

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


China National Accord Medicines (SZSE:000028) Business Description

Traded in Other Exchanges
Address
No. 15, Ba Gua Si 4th Road, Accord Pharmaceutical Building, Futian District, Guangdong Province, Shenzhen, CHN, 518029
China National Accord Medicines Corp Ltd develops and manufactures pharmaceuticals in China. The company engaged in the wholesale of Chinese patent drugs, traditional Chinese medicines, chemical medicine preparations, antibiotics, biochemical drugs and cerebrovascular system drugs. It operates through the following segments: The Head office segment engages in investing and managing the business; The Pharmaceutical Distribution segment engages in the distribution of medicine and pharmaceutical products to customers, including hospitals, other distributors, retail drug stores, and clinics, and Retail pharmacy segment, which is managing the operation of Guoda Pharmacy. It generates maximum revenue from the Pharmaceutical Distribution segment.

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