Canopy Growth (NAS:CGC) Cyclically Adjusted Book per Share

: $5.43 (As of Sep. 2023)

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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.

Canopy Growth's adjusted book value per share for the three months ended in Sep. 2023 was $0.668. 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 $5.43 for the trailing ten years ended in Sep. 2023.

During the past 12 months, Canopy Growth's average Cyclically Adjusted Book Growth Rate was 5.70% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 20.60% 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 Canopy Growth was 20.60% per year. The lowest was 20.60% per year. And the median was 20.60% per year.

As of today (2023-11-30), Canopy Growth's current stock price is $0.5596. Canopy Growth's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 was $5.43. Canopy Growth's Cyclically Adjusted PB Ratio of today is 0.10.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Canopy Growth was 11.18. The lowest was 0.07. And the median was 1.72.

Canopy Growth Cyclically Adjusted Book per Share Historical Data

The historical data trend for Canopy Growth'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.

Canopy Growth Annual Data

Trend

Jul13

Dec14

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Cyclically Adjusted Book per Share

2.85

4.12

5.25

5.24

Canopy Growth 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																5.02	5.13	5.24	5.48	5.43

Competitive Comparison

For the Drug Manufacturers - Specialty & Generic subindustry, Canopy Growth'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.

Canopy Growth Cyclically Adjusted PB Ratio Distribution

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

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

Canopy Growth Cyclically Adjusted Book per Share Calculation

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, Canopy Growth'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)
	=	0.668	/	125.2304	*	125.2304
	=	0.668

Current CPI (Sep. 2023) = 125.2304.

Canopy Growth Quarterly Data

	Book Value per Share	CPI	Adj_Book
201307	0.329	97.261	0.424
201310	0.473	97.182	0.610
201401	0.422	97.261	0.543
201406	0.567	99.473	0.714
201409	0.525	99.394	0.661
201412	0.462	98.367	0.588
201506	0.681	100.500	0.849
201509	0.977	100.421	1.218
201512	0.977	99.947	1.224
201603	0.947	101.054	1.174
201606	0.978	102.002	1.201
201609	1.142	101.765	1.405
201612	1.527	101.449	1.885
201703	2.947	102.634	3.596
201706	2.959	103.029	3.597
201709	3.348	103.345	4.057
201712	3.984	103.345	4.828
201803	4.458	105.004	5.317
201806	4.305	105.557	5.107
201809	5.595	105.636	6.633
201812	16.076	105.399	19.101
201903	15.024	106.979	17.587
201906	12.424	107.690	14.448
201909	11.604	107.611	13.504
201912	11.425	107.769	13.276
202003	9.998	107.927	11.601
202006	9.879	108.401	11.413
202009	9.991	108.164	11.567
202012	8.264	108.559	9.533
202103	7.235	110.298	8.215
202106	8.618	111.720	9.660
202109	8.507	112.905	9.436
202112	8.203	113.774	9.029
202203	7.177	117.646	7.640
202206	3.072	120.806	3.185
202209	2.537	120.648	2.633
202212	2.120	120.964	2.195
202303	1.071	122.702	1.093
202306	1.016	124.203	1.024
202309	0.668	125.230	0.668

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

Canopy Growth (NAS:CGC) 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.

Canopy Growth's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio	=	Share Price	/	Cyclically Adjusted Book per Share
	=	0.5596	/	5.43
	=	0.10

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Canopy Growth was 11.18. The lowest was 0.07. And the median was 1.72.

Be Aware

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

Canopy Growth Cyclically Adjusted Book per Share Related Terms

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

Canopy Growth (NAS:CGC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Canopy Growth Corp (NAS:CGC) » Definitions » Cyclically Adjusted Book per Share

Comparable Companies

Traded in Other Exchanges

11L1:Germany 11L1:Germany 11L1:Germany WEED:Canada

Address

1 Hershey Drive, Smiths Falls, ON, CAN, K7A 0A8

Website

https://www.canopygrowth.com

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include sports drink BioSteel, skincare products under This Works, Martha Stewart CBD, and Storz & Bickel vaporizers. Canopy growth is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.

Executives

Christelle Gedeon	officer: See Remarks	3 HOLLYHOCK COURT, TORONTO Z4 M3B 0B4
Garth Hankinson	director	C/O CONSTELLATION BRANDS, INC., 207 HIGH POINT DRIVE, BLDG. 100, VICTOR NY 14564
Hong Judy Eun Joo	officer: See Remarks	1 HERSHEY DRIVE, SMITHS FALLS Z4 K7A 0A8
Greenstar Ii Holdings Llc	10 percent owner	207 HIGH POINT DRIVE, BUILDING 100, VICTOR NY 14564
Greenstar Ii Llc	10 percent owner	207 HIGH POINT DRIVE, BUILDING 100, VICTOR NY 14564
Grant Julious C. Jr	officer: Chief Commercial Officer	1 HERSHEY DRIVE, SMITHS FALLS A6 K7A 0A8
Sabia James A. Jr.	director	C/O CONSTELLATION BRANDS, INC., 207 HIGH POINT DRIVE, BLDG. 100, VICTOR NY 14564
Greenstar Canada Investment Limited Partnership	10 percent owner	1055 WEST HASTINGS STREET, SUITE 1700, VANCOUVER A1 V6E 2E9
Constellation Brands Canada Holdings Ulc	10 percent owner	QUEEN'S MARQUE, 600-1741 LOWER WATER STREET, HALIFAX A5 B3J 0J2
Theresa Yanofsky	director	1 HERSHEY DRIVE, SMITHS FALLS A6 K7A 0A8
Thomas Carlton Stewart	officer: See Remarks	1 HERSHEY DRIVE, SMITHS FALLS A6 K7A 0A8
Tomas Iv Shipley	officer: See Remarks	1 HERSHEY DRIVE, SMITHS FALLS A6 K7A 0A8
Cbg Holdings Llc	10 percent owner	207 HIGH POINT DRIVE, BUILDING 100, VICTOR NY 14564
Constellation Capital Llc	10 percent owner	207 HIGH POINT DRIVE, BUILDING 100, VICTOR NY 14564
Greenstar Canada Investment Corp	10 percent owner	1055 WEST HASTINGS STREET, SUITE 1700, VANCOUVER A1 V6E 2E9