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PepsiCo (XTER:PEP) Cyclically Adjusted Book per Share : €11.12 (As of Sep. 2024)


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What is PepsiCo 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.

PepsiCo's adjusted book value per share for the three months ended in Sep. 2024 was €12.775. 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 €11.12 for the trailing ten years ended in Sep. 2024.

During the past 12 months, PepsiCo's average Cyclically Adjusted Book Growth Rate was -2.70% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 0.90% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 0.30% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 0.20% 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 PepsiCo was 9.70% per year. The lowest was -0.80% per year. And the median was 4.80% per year.

As of today (2024-12-14), PepsiCo's current stock price is €151.80. PepsiCo's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2024 was €11.12. PepsiCo's Cyclically Adjusted PB Ratio of today is 13.65.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of PepsiCo was 15.36. The lowest was 7.12. And the median was 10.67.


PepsiCo Cyclically Adjusted Book per Share Historical Data

The historical data trend for PepsiCo'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.

PepsiCo Cyclically Adjusted Book per Share Chart

PepsiCo 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 11.29 9.82 10.92 11.96 11.28

PepsiCo 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 12.03 11.28 11.68 11.69 11.12

Competitive Comparison of PepsiCo's Cyclically Adjusted Book per Share

For the Beverages - Non-Alcoholic subindustry, PepsiCo'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.


PepsiCo's Cyclically Adjusted PB Ratio Distribution in the Beverages - Non-Alcoholic Industry

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

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



PepsiCo 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, PepsiCo'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)
=12.775/133.0289*133.0289
=12.775

Current CPI (Sep. 2024) = 133.0289.

PepsiCo Quarterly Data

Book Value per Share CPI Adj_Book
201412 9.482 99.070 12.732
201503 9.888 99.621 13.204
201506 9.881 100.684 13.055
201509 8.208 100.392 10.876
201512 7.533 99.792 10.042
201603 6.882 100.470 9.112
201606 7.549 101.688 9.876
201609 7.804 101.861 10.192
201612 7.338 101.863 9.583
201703 7.538 102.862 9.749
201706 7.719 103.349 9.936
201709 7.819 104.136 9.988
201712 6.455 104.011 8.256
201803 6.220 105.290 7.859
201806 6.120 106.317 7.658
201809 6.245 106.507 7.800
201812 9.057 105.998 11.367
201903 8.952 107.251 11.104
201906 8.831 108.070 10.871
201909 9.200 108.329 11.298
201912 9.567 108.420 11.738
202003 8.773 108.902 10.717
202006 8.011 108.767 9.798
202009 8.283 109.815 10.034
202012 8.014 109.897 9.701
202103 8.479 111.754 10.093
202106 9.188 114.631 10.663
202109 9.757 115.734 11.215
202112 10.266 117.630 11.610
202203 11.942 121.301 13.097
202206 12.717 125.017 13.532
202209 13.912 125.227 14.779
202212 11.756 125.222 12.489
202303 11.551 127.348 12.066
202306 11.858 128.729 12.254
202309 12.817 129.860 13.130
202312 12.349 129.419 12.693
202403 12.744 131.776 12.865
202406 13.152 132.554 13.199
202409 12.775 133.029 12.775

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


PepsiCo  (XTER:PEP) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=151.80/11.12
=13.65

* 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 PepsiCo was 15.36. The lowest was 7.12. And the median was 10.67.


Be Aware

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


PepsiCo Cyclically Adjusted Book per Share Related Terms

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


PepsiCo Business Description

Address
700 Anderson Hill Road, Purchase, NY, USA, 10577
PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 55% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US and overseas. International markets make up 40% of total sales and one third of operating profits.