Coty (NYSE:COTY) Cyclically Adjusted Book per Share

: $6.75 (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.

Coty's adjusted book value per share for the three months ended in Sep. 2023 was $4.191. 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 $6.75 for the trailing ten years ended in Sep. 2023.

During the past 12 months, Coty's average Cyclically Adjusted Book Growth Rate was 3.40% 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.

As of today (2023-12-11), Coty's current stock price is $11.78. Coty's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 was $6.75. Coty's Cyclically Adjusted PB Ratio of today is 1.75.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Coty was 1.87. The lowest was 0.49. And the median was 1.42.

Coty Cyclically Adjusted Book per Share Historical Data

The historical data trend for Coty'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.

Coty Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Cyclically Adjusted Book per Share

6.05

6.51

6.72

Coty 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																6.53	6.54	6.67	6.72	6.75

Competitive Comparison

For the Household & Personal Products subindustry, Coty'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.

Coty Cyclically Adjusted PB Ratio Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, Coty's Cyclically Adjusted PB Ratio distribution charts can be found below:

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

Coty 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, Coty'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)
	=	4.191	/	129.8595	*	129.8595
	=	4.191

Current CPI (Sep. 2023) = 129.8595.

Coty Quarterly Data

	Book Value per Share	CPI	Adj_Book
201312	4.376	98.326	5.779
201403	3.617	99.695	4.711
201406	2.384	100.560	3.079
201409	1.929	100.428	2.494
201412	1.842	99.070	2.414
201503	1.459	99.621	1.902
201506	2.688	100.684	3.467
201509	2.453	100.392	3.173
201512	1.204	99.792	1.567
201603	1.309	100.470	1.692
201606	1.069	101.688	1.365
201609	0.746	101.861	0.951
201612	13.110	101.863	16.713
201703	12.854	102.862	16.228
201706	12.454	103.349	15.649
201709	12.613	104.136	15.729
201712	12.575	104.011	15.700
201803	12.657	105.290	15.611
201806	11.789	106.317	14.400
201809	11.464	106.507	13.978
201812	10.124	105.998	12.403
201903	9.978	107.251	12.081
201906	6.082	108.070	7.308
201909	5.885	108.329	7.055
201912	5.880	108.420	7.043
202003	4.891	108.902	5.832
202006	3.927	108.767	4.689
202009	4.181	109.815	4.944
202012	4.017	109.897	4.747
202103	3.867	111.754	4.493
202106	3.735	114.631	4.231
202109	3.970	115.734	4.455
202112	4.139	117.630	4.569
202203	4.288	121.301	4.591
202206	3.790	125.017	3.937
202209	3.593	125.227	3.726
202212	4.142	125.222	4.295
202303	4.383	127.348	4.469
202306	4.469	128.729	4.508
202309	4.191	129.860	4.191

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

Coty (NYSE:COTY) 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.

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

Cyclically Adjusted PB Ratio	=	Share Price	/	Cyclically Adjusted Book per Share
	=	11.78	/	6.75
	=	1.75

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Coty was 1.87. The lowest was 0.49. And the median was 1.42.

Be Aware

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

Coty Cyclically Adjusted Book per Share Related Terms

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

Coty (NYSE:COTY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Coty Inc (NYSE:COTY) » Definitions » Cyclically Adjusted Book per Share

Comparable Companies

Traded in Other Exchanges

COTY:France CO3A:Germany COTY34:Brazil

Address

350 Fifth Avenue, New York, NY, USA, 10118

Website

https://www.coty.com

Coty Inc is a global beauty firm that sells fragrance, color cosmetics, and skin and body care. It licenses brands such as Calvin Klein, Hugo Boss, Gucci, Burberry, and Davidoff for its prestige portfolio. Coty's most popular color cosmetic brands are CoverGirl, Max Factor, Rimmel, Sally Hansen, and Kylie. Coty also holds a minority stake in a salon and retail haircare business, including brands Wella, Clairol, OPI, and GHD. The company has two reportable segments such as Prestige and Consumer Beauty. It generates majority of its revenue from Prestige segment.

Executives

Priya Srinivasan	officer: Chief People & Purpose Officer	350 FIFTH AVENUE, NEW YORK NY 10118
Rochet Lubomira	director	6425 HALL OF FAME LANE, FRISCO TX 75034
Laurent Mercier	officer: Chief Financial Officer	350 FIFTH AVENUE, NEW YORK NY 10118
Anna Adeola Makanju	director	350 FIFTH AVENUE, NEW YORK NY 10118
Maria Asunicion Aramburuzabala	director	PASEO DE LOS TAMARINDOS 400, TORRE B PISO 25, MEXICO DF O5 0000
Johannes P Huth	director
Sue Nabi	director, officer: Chief Executive Officer	350 FIFTH AVENUE, NEW YORK NY 10118
Bayern Anna Von	officer: Chief Corp. Affairs Officer	350 FIFTH AVENUE, NEW YORK NY 10118
Nancy G. Ford	director	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019
George R Roberts	10 percent owner	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 2800 SAND HILL ROAD, MENLO PARK CA 94025
Kkr Rainbow Aggregator L.p.	10 percent owner	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019
Kkr Rainbow Aggregator Gp Llc	10 percent owner	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019
Kkr Europe V S.a R.l.	10 percent owner	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019
Kkr Associates Europe V Scsp	10 percent owner	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019
Kkr Europe V Holdings Ltd	10 percent owner	C/O KOHLBERG KRAVIS ROBERTS & CO. L.P., 9 WEST 57TH STREET, SUITE 4200, NEW YORK NY 10019