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China National Accord Medicines (SZSE:000028) Cyclically Adjusted PB Ratio : 1.65 (As of Apr. 24, 2024)


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China National Accord Medicines Cyclically Adjusted PB Ratio Definition

As of today (2024-04-24), China National Accord Medicines's current share 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 for today is 1.65.

The historical rank and industry rank for China National Accord Medicines's Cyclically Adjusted PB Ratio or its related term are showing as below:

SZSE:000028' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 1.23   Med: 4.08   Max: 18.92
Current: 1.66

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

SZSE:000028's Cyclically Adjusted PB Ratio is ranked worse than
58.73% of 63 companies
in the Medical Distribution industry
Industry Median: 1.41 vs SZSE:000028: 1.66

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 adjusted book value per share data 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.

Shiller PE for Stocks: The True Measure of Stock Valuation


China National Accord Medicines Cyclically Adjusted PB Ratio Historical Data

The historical data trend for China National Accord Medicines'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.

* Premium members only.

China National Accord Medicines Cyclically Adjusted PB Ratio Chart

China National Accord Medicines Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.96 2.53 1.74 1.34 1.37

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 PB Ratio 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 1.34 1.74 2.18 1.53 1.37

Competitive Comparison of China National Accord Medicines's Cyclically Adjusted PB Ratio

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 Cyclically Adjusted PB Ratio Distribution

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 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.

China National Accord Medicines's Cyclically Adjusted PB Ratio for 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.

China National Accord Medicines's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

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.

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.


China National Accord Medicines  (SZSE:000028) 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.


China National Accord Medicines Cyclically Adjusted PB Ratio Related Terms

Thank you for viewing the detailed overview of China National Accord Medicines's Cyclically Adjusted PB Ratio 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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