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Kellanova (XTER:KEL) Cyclically Adjusted Book per Share : €9.45 (As of Mar. 2025)


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What is Kellanova 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.

Kellanova's adjusted book value per share for the three months ended in Mar. 2025 was €10.438. 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 €9.45 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Kellanova's average Cyclically Adjusted Book Growth Rate was 1.40% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 5.00% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 6.50% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 4.40% 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 Kellanova was 9.00% per year. The lowest was -6.30% per year. And the median was 4.40% per year.

As of today (2025-07-07), Kellanova's current stock price is €68.00. Kellanova's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2025 was €9.45. Kellanova's Cyclically Adjusted PB Ratio of today is 7.20.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Kellanova was 11.40. The lowest was 4.93. And the median was 7.90.


Kellanova Cyclically Adjusted Book per Share Historical Data

The historical data trend for Kellanova'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.

Kellanova Cyclically Adjusted Book per Share Chart

Kellanova Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.46 7.61 9.02 8.96 9.62

Kellanova 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 9.32 9.37 8.98 9.62 9.45

Competitive Comparison of Kellanova's Cyclically Adjusted Book per Share

For the Packaged Foods subindustry, Kellanova'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.


Kellanova's Cyclically Adjusted PB Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Kellanova's Cyclically Adjusted PB Ratio distribution charts can be found below:

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


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Kellanova 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, Kellanova's adjusted Book Value per Share data for the three months ended in Mar. 2025 was:

Adj_Book= Book Value per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=10.438/134.9266*134.9266
=10.438

Current CPI (Mar. 2025) = 134.9266.

Kellanova Quarterly Data

Book Value per Share CPI Adj_Book
201506 6.694 100.684 8.971
201509 6.703 100.392 9.009
201512 5.581 99.792 7.546
201603 5.211 100.470 6.998
201606 5.075 101.688 6.734
201609 5.562 101.861 7.368
201612 5.158 101.863 6.832
201703 5.359 102.862 7.030
201706 4.718 103.349 6.160
201709 4.686 104.136 6.072
201712 5.325 104.011 6.908
201803 5.932 105.290 7.602
201806 7.001 106.317 8.885
201809 7.528 106.507 9.537
201812 6.649 105.998 8.464
201903 6.574 107.251 8.270
201906 6.878 108.070 8.587
201909 7.259 108.329 9.041
201912 7.239 108.420 9.009
202003 7.062 108.902 8.750
202006 7.432 108.767 9.219
202009 7.519 109.815 9.238
202012 7.439 109.897 9.133
202103 7.741 111.754 9.346
202106 8.186 114.631 9.635
202109 8.681 115.734 10.121
202112 9.644 117.630 11.062
202203 10.199 121.301 11.345
202206 11.354 125.017 12.254
202209 12.675 125.227 13.657
202212 10.884 125.222 11.728
202303 11.042 127.348 11.699
202306 10.690 128.729 11.205
202309 11.063 129.860 11.495
202312 8.548 129.419 8.912
202403 8.504 131.776 8.707
202406 8.975 132.554 9.136
202409 9.541 133.029 9.677
202412 10.446 133.157 10.585
202503 10.438 134.927 10.438

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


Kellanova  (XTER:KEL) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=68.00/9.45
=7.20

* 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 Kellanova was 11.40. The lowest was 4.93. And the median was 7.90.


Be Aware

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


Kellanova Cyclically Adjusted Book per Share Related Terms

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


Kellanova Business Description

Address
412 N. Wells Street, Chicago, IL, USA, 60654
Following its split from the North American cereal business in October 2023, Kellanova (previously the global snacking arm of Kellogg) has operated as a leading global manufacturer and marketer of salty snacks, snack bars, frozen breakfast fare, meat alternatives, and other packaged foods. Its offerings are manufactured in around 20 countries and marketed in over 180 countries. Its product mix includes well-known brands such as Pringles, Cheez-It, Rice Krispies Treats, Pop-Tarts, Eggo, Nutri-Grain, and Morningstar Farms. Sales beyond its home turf account for about nearly two thirds of Kellanova's consolidated sales base. Mars is slated to acquire the recently independent business in a nearly $36 billion deal in the first half of calendar 2025.

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