Associated International Hotels (HKSE:00105) Cyclically Adjusted PB Ratio : 0.13 (As of Jun. 21, 2024)

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What is Associated International Hotels Cyclically Adjusted PB Ratio?

As of today (2024-06-21), Associated International Hotels's current share price is HK$5.00. Associated International Hotels's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar23 was HK$37.65. Associated International Hotels's Cyclically Adjusted PB Ratio for today is 0.13.

The historical rank and industry rank for Associated International Hotels's Cyclically Adjusted PB Ratio or its related term are showing as below:

HKSE:00105' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.14 Med: 0.63 Max: 1.1
Current: 0.14

During the past 13 years, Associated International Hotels's highest Cyclically Adjusted PB Ratio was 1.10. The lowest was 0.14. And the median was 0.63.

HKSE:00105's Cyclically Adjusted PB Ratio is ranked better than
88.04% of 1413 companies
in the Real Estate industry
Industry Median: 0.69 vs HKSE:00105: 0.14

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.

Associated International Hotels's adjusted book value per share data of for the fiscal year that ended in Mar23 was HK$21.167. 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 HK$37.65 for the trailing ten years ended in Mar23.

Shiller PE for Stocks: The True Measure of Stock Valuation

Associated International Hotels Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Associated International Hotels's Cyclically Adjusted PB Ratio 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.

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Associated International Hotels Cyclically Adjusted PB Ratio Chart

Associated International Hotels Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Cyclically Adjusted PB Ratio

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0.59

0.42

0.35

0.32

0.25

Associated International Hotels Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Cyclically Adjusted PB Ratio	Get a 7-Day Free Trial															-	0.32	-	0.25	-

Competitive Comparison of Associated International Hotels's Cyclically Adjusted PB Ratio

For the Real Estate Services subindustry, Associated International Hotels'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.

Associated International Hotels's Cyclically Adjusted PB Ratio Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Associated International Hotels's Cyclically Adjusted PB Ratio distribution charts can be found below:

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

Associated International Hotels Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Associated International Hotels's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio	=	Share Price	/	Cyclically Adjusted Book per Share
	=	5.00	/	37.65
	=	0.13

Associated International Hotels's Cyclically Adjusted Book per Share for the fiscal year that ended in Mar23 is calculated as:

For example, Associated International Hotels's adjusted Book Value per Share data for the fiscal year that ended in Mar23 was:

Adj_Book	=	Book Value per Share	/	CPI of Mar23 (Change)	*	Current CPI (Mar23)
	=	21.167	/	115.4269	*	115.4269
	=	21.167

Current CPI (Mar23) = 115.4269.

Associated International Hotels Annual Data

	Book Value per Share	CPI	Adj_Book
201403	37.337	95.749	45.010
201503	39.721	99.927	45.882
201603	40.942	102.785	45.978
201703	39.300	103.335	43.899
201803	38.542	105.973	41.980
201903	37.785	108.172	40.319
202003	34.119	110.920	35.505
202103	29.382	111.579	30.395
202203	25.888	113.558	26.314
202303	21.167	115.427	21.167

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

Associated International Hotels (HKSE:00105) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.

Associated International Hotels Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of Associated International Hotels's Cyclically Adjusted PB Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.

Associated International Hotels (HKSE:00105) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Associated International Hotels Ltd (HKSE:00105) » Definitions » Cyclically Adjusted PB Ratio

Comparable Companies

Traded in Other Exchanges

N/A

Address

63 Nathan Road, 9th Floor, iSQUARE, Tsim Sha Tsui, Kowloon, Hong Kong, HKG

Website

https://aihl.etnet.com.hk

Associated International Hotels Ltd is a Hong-Kong investment holding company principally engaged in property-related businesses. Its only reportable segment is Property leasing. The company generates revenue from Interest income, Management fees, and Others. The properties under the company include iSQUARE, Good Luck Industrial Building as well as the offices in Euro Trade Centre in Hong Kong. Geographically, it derives revenue from Hong Kong.

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