General Electric Co (NYSE:GE) Cyclically Adjusted Book per Share

: $67.33 (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.

General Electric Co's adjusted book value per share for the three months ended in Sep. 2023 was $26.337. 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 $67.33 for the trailing ten years ended in Sep. 2023.

During the past 12 months, General Electric Co's average Cyclically Adjusted Book Growth Rate was -9.40% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -5.20% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was -5.30% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was -2.90% 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 General Electric Co was 15.40% per year. The lowest was -5.90% per year. And the median was 6.30% per year.

As of today (2023-11-29), General Electric Co's current stock price is $118.85. General Electric Co's Cyclically Adjusted Book per Share for the quarter that ended in Sep. 2023 was $67.33. General Electric Co's Cyclically Adjusted PB Ratio of today is 1.77.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of General Electric Co was 2.02. The lowest was 0.41. And the median was 1.36.

General Electric Co Cyclically Adjusted Book per Share Historical Data

The historical data trend for General Electric Co'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.

General Electric Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Cyclically Adjusted Book per Share

89.61

84.52

78.45

75.83

72.06

General Electric Co 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																74.29	72.06	70.91	69.25	67.33

Competitive Comparison

For the Specialty Industrial Machinery subindustry, General Electric Co'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.

General Electric Co Cyclically Adjusted PB Ratio Distribution

For the Industrial Products industry and Industrials sector, General Electric Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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

General Electric Co 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, General Electric Co'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)
	=	26.337	/	129.8595	*	129.8595
	=	26.337

Current CPI (Sep. 2023) = 129.8595.

General Electric Co Quarterly Data

	Book Value per Share	CPI	Adj_Book
201312	103.821	98.326	137.117
201403	105.177	99.695	137.001
201406	106.848	100.560	137.980
201409	107.545	100.428	139.062
201412	101.942	99.070	133.624
201503	86.194	99.621	112.357
201506	86.766	100.684	111.909
201509	88.002	100.392	113.833
201512	83.817	99.792	109.071
201603	79.239	100.470	102.418
201606	75.869	101.688	96.888
201609	74.042	101.861	94.394
201612	69.381	101.863	88.450
201703	68.658	102.862	86.678
201706	68.508	103.349	86.081
201709	70.201	104.136	87.542
201712	51.632	104.011	64.463
201803	51.543	105.290	63.571
201806	50.684	106.317	61.907
201809	28.924	106.507	35.266
201812	28.475	105.998	34.885
201903	32.249	107.251	39.047
201906	32.827	108.070	39.446
201909	25.583	108.329	30.668
201912	25.918	108.420	31.043
202003	32.265	108.902	38.474
202006	30.771	108.767	36.738
202009	30.378	109.815	35.923
202012	32.442	109.897	38.335
202103	30.601	111.754	35.559
202106	30.502	114.631	34.554
202109	34.122	115.734	38.287
202112	36.672	117.630	40.485
202203	35.432	121.301	37.932
202206	31.593	125.017	32.817
202209	28.800	125.227	29.866
202212	33.385	125.222	34.621
202303	29.064	127.348	29.637
202306	28.658	128.729	28.910
202309	26.337	129.860	26.337

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

General Electric Co (NYSE:GE) 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.

General Electric Co's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio	=	Share Price	/	Cyclically Adjusted Book per Share
	=	118.85	/	67.33
	=	1.77

During the past 13 years, the highest Cyclically Adjusted PB Ratio of General Electric Co was 2.02. The lowest was 0.41. And the median was 1.36.

Be Aware

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

General Electric Co Cyclically Adjusted Book per Share Related Terms

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

General Electric Co (NYSE:GE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » General Electric Co (NYSE:GE) » Definitions » Cyclically Adjusted Book per Share

Comparable Companies

Traded in Other Exchanges

GE:Mexico GEz:UK GEC:UK GNE:France GCP:Germany GE:Germany GCP:Germany GCP:Germany GE:Chile GE:Switzerland GEOO34:Brazil GE:Argentina

Address

5 Necco Street, Boston, MA, USA, 02210

Website

https://www.ge.com

GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, and onshore and offshore wind turbines. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by Danaher alumnus Larry Culp, who is leading a multiyear turnaround of the conglomerate based on lean principles.

Executives

Rahul Ghai	officer: Senior Vice President	GENERAL ELECTRIC COMPANY, 5 NECCO STREET, BOSTON MA 02210
Jessica R. Uhl	director	200 WEST STREET, NEW YORK NY 10282
Darren W Mcdew	director	100 ABBOTT PARK ROAD, ABBOTT PARK IL 60064
Thomas S Timko	officer: Vice President	300 RENAISSANCE CENTER, M/C: 482-C25-A36, DETROIT MI 48265-3000
L Kevin Cox	officer: Senior Vice President	THE PEPSI BOTTLING GROUP, INC., ONE PEPSI WAY, SOMERS NY 10589
Russell Stokes	officer: Senior Vice President	ONE FINANCIAL CENTER, SUITE 3700, BOSTON MA 02111
Scott Strazik	officer: Senior Vice President	ONE FINANCIAL CENTER, SUITE 3700, BOSTON MA 02111
Michael J Holston	officer: Senior Vice President	GENERAL ELECTRIC COMPANY, ONE FINANCIAL CENTER, SUITE 3700, BOSTON MA 02111
Happe Carolina Dybeck	officer: Senior Vice President	5 NECCO STREET, BOSTON MA 02210
John S. Slattery	officer: Executive Vice President	5 NECCO STREET, BOSTON MA 02210
Thomas W Horton	director	4333 AMON CARTER BLVD., FORTH WORTH TX 76155
Isabella D Goren	director	C/O LYONDELLBASELL INDUSTRIES N V, DELFTSEPLEIN 27E, ROTTERDAM P7 3013AA
Francisco Dsouza	director	500 GLENPOINTE CENTRE W, TEANECK NJ 07666
Risa J Lavizzo-mourey	director	GE HEALTHCARE TECHNOLOGIES INC., 500 W. MONROE ST., CHICAGO IL 60661
Paula Rosput Reynolds	director	605 HILLSIDE DRIVE EAST, SEATTLE WA 98112