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Ternium (FRA:T5Z) Cyclically Adjusted Book per Share : €38.21 (As of Mar. 2024)


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What is Ternium Cyclically Adjusted Book per Share?

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.

Ternium's adjusted book value per share for the three months ended in Mar. 2024 was €61.061. 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 €38.21 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Ternium's average Cyclically Adjusted Book Growth Rate was -100.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 11.20% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 7.50% 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 Ternium was 11.20% per year. The lowest was 1.50% per year. And the median was 2.10% per year.

As of today (2024-04-28), Ternium's current stock price is €40.00. Ternium's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was €38.21. Ternium's Cyclically Adjusted PB Ratio of today is 1.05.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Ternium was 1.85. The lowest was 0.39. And the median was 0.94.


Ternium Cyclically Adjusted Book per Share Historical Data

The historical data trend for Ternium'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.

Ternium Cyclically Adjusted Book per Share Chart

Ternium Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 26.17 23.84 27.66 34.04 36.50

Ternium Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Book per Share 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 34.26 35.48 37.52 36.50 38.21

Competitive Comparison of Ternium's Cyclically Adjusted Book per Share

For the Steel subindustry, Ternium'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.


Ternium's Cyclically Adjusted PB Ratio Distribution in the Steel Industry

For the Steel industry and Basic Materials sector, Ternium's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Ternium 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, Ternium's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book= Book Value per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=61.061/121.1700*121.1700
=61.061

Current CPI (Mar. 2024) = 121.1700.

Ternium Quarterly Data

Book Value per Share CPI Adj_Book
201406 20.297 99.960 24.604
201409 21.240 99.900 25.762
201412 19.405 98.830 23.791
201503 23.521 99.980 28.506
201506 20.262 100.640 24.395
201509 19.704 100.380 23.785
201512 18.860 99.910 22.873
201603 18.625 100.030 22.561
201606 18.561 100.660 22.343
201609 19.565 100.750 23.530
201612 21.206 101.040 25.431
201703 22.305 101.780 26.554
201706 21.439 102.170 25.426
201709 20.891 102.520 24.691
201712 21.567 102.410 25.518
201803 22.060 102.900 25.977
201806 22.926 103.650 26.801
201809 25.930 104.580 30.043
201812 28.627 104.320 33.251
201903 29.692 105.140 34.219
201906 29.891 105.550 34.314
201909 30.233 105.900 34.592
201912 30.312 106.080 34.624
202003 29.965 106.040 34.240
202006 29.621 106.340 33.752
202009 28.916 106.620 32.862
202012 30.509 106.670 34.656
202103 33.553 108.140 37.596
202106 36.148 108.680 40.302
202109 42.019 109.470 46.510
202112 47.494 111.090 51.803
202203 52.802 114.780 55.742
202206 56.749 116.750 58.897
202209 61.226 117.000 63.408
202212 56.964 117.060 58.964
202303 58.188 118.910 59.294
202306 58.239 120.460 58.582
202309 59.362 121.740 59.084
202312 58.010 121.170 58.010
202403 61.061 121.170 61.061

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


Ternium  (FRA:T5Z) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=40.00/38.21
=1.05

* 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 Ternium was 1.85. The lowest was 0.39. And the median was 0.94.


Be Aware

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


Ternium Cyclically Adjusted Book per Share Related Terms

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


Ternium (FRA:T5Z) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » Ternium SA (FRA:T5Z) » Definitions » Cyclically Adjusted Book per Share
Address
26 Boulevard Royal, 4th Floor, Luxembourg, LUX, L-2449
Ternium SA is a flat steel producer operating in Mexico, Brazil, Argentina, Colombia, the southern United States, and Central America. It produces finished and semi-finished steel products and iron ore, which are sold either directly to steel manufacturers and steel processors or end-users. The company operates in two segments: Steel and Mining. In its steel segment, the company produces slabs, billets & round bars, hot-rolled coils & sheets, bars & stirrups, wire rods, steel pipes, and other products. The Mining segment sells iron ore as concentrates (fines) and pellets. The vast majority of its revenue comes from the steel segment. Its geographical segments are Mexico, the Southern region, and Brazil & Other markets.

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