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American Tower (WBO:AMTG) Cyclically Adjusted Book per Share : €13.40 (As of Sep. 2024)


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What is American Tower 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.

American Tower's adjusted book value per share for the three months ended in Sep. 2024 was €7.022. 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 €13.40 for the trailing ten years ended in Sep. 2024.

During the past 12 months, American Tower's average Cyclically Adjusted Book Growth Rate was -0.70% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 5.90% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 4.60% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 5.00% 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 American Tower was 6.50% per year. The lowest was -7.20% per year. And the median was 3.20% per year.

As of today (2024-12-14), American Tower's current stock price is €188.88. American Tower's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2024 was €13.40. American Tower's Cyclically Adjusted PB Ratio of today is 14.10.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of American Tower was 22.83. The lowest was 8.39. And the median was 13.19.


American Tower Cyclically Adjusted Book per Share Historical Data

The historical data trend for American Tower'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.

American Tower Cyclically Adjusted Book per Share Chart

American Tower 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 11.21 10.23 11.90 14.05 13.70

American Tower Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 14.39 13.70 14.03 14.15 13.40

Competitive Comparison of American Tower's Cyclically Adjusted Book per Share

For the REIT - Specialty subindustry, American Tower'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.


American Tower's Cyclically Adjusted PB Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, American Tower's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



American Tower 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, American Tower's adjusted Book Value per Share data for the three months ended in Sep. 2024 was:

Adj_Book= Book Value per Share /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=7.022/133.0289*133.0289
=7.022

Current CPI (Sep. 2024) = 133.0289.

American Tower Quarterly Data

Book Value per Share CPI Adj_Book
201412 8.082 99.070 10.852
201503 16.056 99.621 21.440
201506 15.390 100.684 20.334
201509 13.923 100.392 18.449
201512 14.405 99.792 19.203
201603 14.664 100.470 19.416
201606 14.176 101.688 18.545
201609 14.041 101.861 18.337
201612 15.010 101.863 19.603
201703 15.031 102.862 19.439
201706 13.443 103.349 17.304
201709 12.740 104.136 16.275
201712 12.299 104.011 15.730
201803 11.633 105.290 14.698
201806 10.770 106.317 13.476
201809 10.403 106.507 12.994
201812 10.634 105.998 13.346
201903 10.707 107.251 13.281
201906 10.958 108.070 13.489
201909 10.745 108.329 13.195
201912 10.273 108.420 12.605
202003 7.419 108.902 9.063
202006 7.248 108.767 8.865
202009 7.133 109.815 8.641
202012 7.573 109.897 9.167
202103 7.334 111.754 8.730
202106 10.496 114.631 12.181
202109 10.100 115.734 11.609
202112 9.866 117.630 11.158
202203 10.672 121.301 11.704
202206 14.139 125.017 15.045
202209 13.627 125.227 14.476
202212 11.298 125.222 12.002
202303 10.836 127.348 11.319
202306 10.230 128.729 10.572
202309 9.112 129.860 9.334
202312 8.256 129.419 8.486
202403 7.975 131.776 8.051
202406 7.669 132.554 7.696
202409 7.022 133.029 7.022

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


American Tower  (WBO:AMTG) 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.

American Tower's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=188.88/13.4
=14.10

* 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 American Tower was 22.83. The lowest was 8.39. And the median was 13.19.


Be Aware

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


American Tower Cyclically Adjusted Book per Share Related Terms

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


American Tower Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » American Tower Corp (WBO:AMTG) » Definitions » Cyclically Adjusted Book per Share
Address
116 Huntington Avenue, 11th Floor, Boston, MA, USA, 02116
American Tower owns and operates more than 220,000 cell towers throughout the us, Asia, Latin America, Europe, and Africa. It also owns and/or operates 28 data centers in 10 us markets after acquiring CoreSite. On its towers, the company has a very concentrated customer base, with most revenue in each market being generated by just the top few mobile carriers. The company operates more than 40,000 towers in the us, which accounted for almost half of the company's total revenue in 2023. Outside the us, American Tower operates over 75,000 towers in India, almost 50,000 towers in Latin America (dominated by Brazil), 30,000 towers in Europe, and nearly 25,000 towers in Africa. American Tower operates as a REIT.

American Tower Headlines

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