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Aena SME (WBO:AENA) Cyclically Adjusted PB Ratio : 4.25 (As of Apr. 30, 2024)


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What is Aena SME Cyclically Adjusted PB Ratio?

As of today (2024-04-30), Aena SME's current share price is €177.70. Aena SME's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was €41.81. Aena SME's Cyclically Adjusted PB Ratio for today is 4.25.

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

WBO:AENA' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.74   Med: 3.63   Max: 4.38
Current: 4.22

During the past years, Aena SME's highest Cyclically Adjusted PB Ratio was 4.38. The lowest was 2.74. And the median was 3.63.

WBO:AENA's Cyclically Adjusted PB Ratio is ranked worse than
88.87% of 692 companies
in the Transportation industry
Industry Median: 1.22 vs WBO:AENA: 4.22

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.

Aena SME's adjusted book value per share data for the three months ended in Dec. 2023 was €50.849. 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 €41.81 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Aena SME Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Aena SME'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.

Aena SME Cyclically Adjusted PB Ratio Chart

Aena SME 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 - - - 3.02 3.94

Aena SME 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 3.02 3.73 3.66 3.48 3.94

Competitive Comparison of Aena SME's Cyclically Adjusted PB Ratio

For the Airports & Air Services subindustry, Aena SME'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.


Aena SME's Cyclically Adjusted PB Ratio Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Aena SME's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Aena SME 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.

Aena SME's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=177.70/41.81
=4.25

* 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.

Aena SME's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, Aena SME'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)
=50.849/121.2698*121.2698
=50.849

Current CPI (Dec. 2023) = 121.2698.

Aena SME Quarterly Data

Book Value per Share CPI Adj_Book
201403 0.000 100.139 0.000
201406 21.609 101.081 25.925
201409 22.749 100.441 27.467
201412 23.442 100.251 28.357
201503 23.581 99.474 28.748
201506 25.192 101.138 30.207
201509 27.363 99.559 33.330
201512 28.693 100.268 34.703
201603 28.412 98.638 34.931
201606 28.586 100.333 34.551
201609 31.483 99.737 38.280
201612 33.289 101.842 39.639
201703 33.950 100.896 40.805
201706 32.745 101.848 38.989
201709 36.075 101.524 43.091
201712 37.883 102.975 44.613
201803 38.678 102.122 45.930
201806 34.832 104.165 40.552
201809 38.292 103.818 44.729
201812 40.232 104.193 46.826
201903 40.985 103.488 48.027
201906 36.743 104.612 42.594
201909 40.308 103.905 47.044
201912 42.705 105.015 49.315
202003 42.059 103.469 49.295
202006 40.515 104.254 47.128
202009 40.762 103.521 47.751
202012 40.552 104.456 47.079
202103 39.128 104.857 45.252
202106 38.784 107.102 43.914
202109 40.171 107.669 45.246
202112 37.657 111.298 41.031
202203 40.702 115.153 42.864
202206 42.669 118.044 43.835
202209 45.358 117.221 46.925
202212 44.784 117.650 46.162
202303 45.738 118.948 46.631
202306 44.342 120.278 44.707
202309 47.804 121.343 47.775
202312 50.849 121.270 50.849

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.


Aena SME  (WBO:AENA) 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.


Aena SME Cyclically Adjusted PB Ratio Related Terms

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


Aena SME (WBO:AENA) Business Description

Industry
Address
Calle Peonias, 12, Madrid, ESP, 28042
Aena is a Spanish airport operator with 46 airports in Spain, including Madrid and Barcelona, and has stakes in 23 international airports. The group generates regulated and nonregulated revenue. Regulated revenue includes fees collected from takeoff and landing, passenger fees and security, whereas nonregulated revenue stems from commercial activities such as retail, food and beverage and advertising sales. In 2019, before the onset of the pandemic, the group catered to 275 million passengers through its Spanish airport network. The group was semiprivatized in 2015, with a listing on the Madrid exchange.

Aena SME (WBO:AENA) Headlines

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