SELECT id, `name`, primary_key, `key`, treemapgroup, name_cn, zacks_table_name, compare_key, compare_display_name from gurufocu_main.financial_definition where termpagedisplay=1 and `key` = 'cyclically_adjusted_book' Amgen (AMGN) Cyclically Adjusted Book per Share
GURUFOCUS.COM » STOCK LIST » USA » NAS » Amgen Inc (NAS:AMGN) » Definitions » Cyclically Adjusted Book per Share
Switch to:

Amgen (NAS:AMGN) Cyclically Adjusted Book per Share

: $30.12 (As of Sep. 2023)
View and export this data going back to 1983. Start your Free Trial

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.

Amgen's adjusted book value per share for the three months ended in Sep. 2023 was $14.308. 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 $30.12 for the trailing ten years ended in Sep. 2023.

During the past 12 months, Amgen's average Cyclically Adjusted Book Growth Rate was -4.10% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -1.20% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was -0.50% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 4.30% 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 Amgen was 38.80% per year. The lowest was -1.20% per year. And the median was 16.30% per year.

As of today (2023-12-03), Amgen's current stock price is $272.49. Amgen's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 was $30.12. Amgen's Cyclically Adjusted PB Ratio of today is 9.05.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Amgen was 9.43. The lowest was 3.91. And the median was 6.23.


Amgen Cyclically Adjusted Book per Share Historical Data

The historical data trend for Amgen'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.

Amgen Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Cyclically Adjusted Book per Share
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 31.96 31.87 31.06 31.46 30.75

Amgen Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
Cyclically Adjusted Book per Share 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 Premium Member Only Premium Member Only Premium Member Only 31.40 30.75 30.68 30.44 30.12

Competitive Comparison

For the Drug Manufacturers - General subindustry, Amgen'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.


Amgen Cyclically Adjusted PB Ratio Distribution

For the Drug Manufacturers industry and Healthcare sector, Amgen's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Amgen 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, Amgen's adjusted Book Value per Share data for the three months ended in Sep. 2023 was:

Adj_Book= Book Value per Share /CPI of Sep. 2023 (Change)*Current CPI (Sep. 2023)
=14.308/129.8595*129.8595
=14.308

Current CPI (Sep. 2023) = 129.8595.

Amgen Quarterly Data

Book Value per Share CPI Adj_Book
201312 29.282 98.326 38.673
201403 30.045 99.695 39.136
201406 32.107 100.560 41.462
201409 33.296 100.428 43.054
201412 33.901 99.070 44.437
201503 34.858 99.621 45.439
201506 36.206 100.684 46.698
201509 37.047 100.392 47.921
201512 37.245 99.792 48.467
201603 38.176 100.470 49.343
201606 40.236 101.688 51.383
201609 41.317 101.861 52.674
201612 40.481 101.863 51.607
201703 41.621 102.862 52.545
201706 43.413 103.349 54.549
201709 44.356 104.136 55.313
201712 34.950 104.011 43.636
201803 23.439 105.290 28.909
201806 22.972 106.317 28.059
201809 22.403 106.507 27.315
201812 19.854 105.998 24.323
201903 17.630 107.251 21.347
201906 17.927 108.070 21.542
201909 18.328 108.329 21.971
201912 16.356 108.420 19.590
202003 16.131 108.902 19.235
202006 18.177 108.767 21.702
202009 18.781 109.815 22.209
202012 16.270 109.897 19.225
202103 16.225 111.754 18.854
202106 14.479 114.631 16.402
202109 14.543 115.734 16.318
202112 12.001 117.630 13.249
202203 1.715 121.301 1.836
202206 4.522 125.017 4.697
202209 6.847 125.227 7.100
202212 6.856 125.222 7.110
202303 10.009 127.348 10.206
202306 12.677 128.729 12.788
202309 14.308 129.860 14.308

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


Amgen  (NAS:AMGN) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=272.49/30.12
=9.05

* 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 Amgen was 9.43. The lowest was 3.91. And the median was 6.23.


Be Aware

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


Amgen Cyclically Adjusted Book per Share Related Terms

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


Amgen (NAS:AMGN) Business Description

Industry
Address
One Amgen Center Drive, Thousand Oaks, CA, USA, 91320-1799
Amgen is a leader in biotechnology-based human therapeutics, with historical expertise in renal disease and cancer supportive-care products. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). Amgen's biosimilar portfolio includes Mvasi (biosimilar Avastin), Kanjinti (biosimilar Herceptin), and Amjevita (biosimilar Humira).
Executives
Matthew C. Busch officer: VP, Finance & CAO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Michael V Drake director ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Derek Miller officer: SVP, Human Resources ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Rachna Khosla officer: SVP, Business Development ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Omar Ishrak director 710 MEDTRONIC PKWY, MS LC300, MINNEAPOLIS MN 55432
Amy E Miles director
Linda H. Louie officer: VP, Finance & CAO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Nancy A. Grygiel officer: SVP & CCO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Peter H. Griffith officer: EVP & CFO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Murdo Gordon officer: EVP Global Commercial Ops C/O BRISTOL-MYERS SQUIBB COMPANY, 345 PARK AVE, NEW YORK NY 10154
David M Reese officer: EVP, Research and Development ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Brian Druker director ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320-1799
Wanda M Austin director 6001 BOLLINGER CANYON ROAD, SAN RAMON CA 94583
Charles M Holley director
Lori A Johnston officer: SVP, HR C/O AMGEN INC., ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320