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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.
Sherwin-Williams Co's adjusted book value per share for the three months ended in Dec. 2023 was $14.598. 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 $11.37 for the trailing ten years ended in Dec. 2023.
During the past 12 months, Sherwin-Williams Co's average Cyclically Adjusted Book Growth Rate was 9.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 10.90% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 12.30% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 10.60% 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 Sherwin-Williams Co was 16.20% per year. The lowest was 0.10% per year. And the median was 5.50% per year.
As of today (2024-04-28), Sherwin-Williams Co's current stock price is $306.45. Sherwin-Williams Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $11.37. Sherwin-Williams Co's Cyclically Adjusted PB Ratio of today is 26.95.
During the past 13 years, the highest Cyclically Adjusted PB Ratio of Sherwin-Williams Co was 37.74. The lowest was 12.20. And the median was 22.81.
The historical data trend for Sherwin-Williams 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.
Sherwin-Williams Co 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 | 10.69 | 10.96 | 11.23 | 11.37 | - |
For the Specialty Chemicals subindustry, Sherwin-Williams 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.
For the Chemicals industry and Basic Materials sector, Sherwin-Williams Co's Cyclically Adjusted PB Ratio distribution charts can be found below:
* The bar in red indicates where Sherwin-Williams Co's Cyclically Adjusted PB Ratio falls into.
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, Sherwin-Williams Co's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:
Adj_Book | = | Book Value per Share | / | CPI of Dec. 2023 (Change) | * | Current CPI (Dec. 2023) |
= | 14.598 | / | 129.4194 | * | 129.4194 | |
= | 14.598 |
Current CPI (Dec. 2023) = 129.4194.
Sherwin-Williams Co Quarterly Data
Book Value per Share | CPI | Adj_Book | |
201403 | 5.457 | 99.695 | 7.084 |
201406 | 5.179 | 100.560 | 6.665 |
201409 | 4.694 | 100.428 | 6.049 |
201412 | 3.507 | 99.070 | 4.581 |
201503 | 1.678 | 99.621 | 2.180 |
201506 | 2.708 | 100.684 | 3.481 |
201509 | 3.495 | 100.392 | 4.506 |
201512 | 3.136 | 99.792 | 4.067 |
201603 | 3.607 | 100.470 | 4.646 |
201606 | 4.506 | 101.688 | 5.735 |
201609 | 5.733 | 101.861 | 7.284 |
201612 | 6.732 | 101.863 | 8.553 |
201703 | 7.392 | 102.862 | 9.300 |
201706 | 8.533 | 103.349 | 10.685 |
201709 | 9.770 | 104.136 | 12.142 |
201712 | 12.952 | 104.011 | 16.116 |
201803 | 13.149 | 105.290 | 16.162 |
201806 | 13.376 | 106.317 | 16.283 |
201809 | 14.151 | 106.507 | 17.195 |
201812 | 13.355 | 105.998 | 16.306 |
201903 | 12.493 | 107.251 | 15.075 |
201906 | 13.540 | 108.070 | 16.215 |
201909 | 14.527 | 108.329 | 17.355 |
201912 | 14.916 | 108.420 | 17.805 |
202003 | 12.075 | 108.902 | 14.350 |
202006 | 14.168 | 108.767 | 16.858 |
202009 | 15.441 | 109.815 | 18.198 |
202012 | 13.439 | 109.897 | 15.826 |
202103 | 11.576 | 111.754 | 13.406 |
202106 | 10.788 | 114.631 | 12.180 |
202109 | 10.261 | 115.734 | 11.474 |
202112 | 9.333 | 117.630 | 10.268 |
202203 | 8.589 | 121.301 | 9.164 |
202206 | 8.583 | 125.017 | 8.885 |
202209 | 10.025 | 125.227 | 10.361 |
202212 | 11.983 | 125.222 | 12.385 |
202303 | 12.280 | 127.348 | 12.480 |
202306 | 14.121 | 128.729 | 14.197 |
202309 | 14.768 | 129.860 | 14.718 |
202312 | 14.598 | 129.419 | 14.598 |
Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.
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.
Sherwin-Williams Co's Cyclically Adjusted PB Ratio of today is calculated as
Cyclically Adjusted PB Ratio | = | Share Price | / | Cyclically Adjusted Book per Share |
= | 306.45 | / | 11.37 | |
= | 26.95 |
* 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 Sherwin-Williams Co was 37.74. The lowest was 12.20. And the median was 22.81.
Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.
Thank you for viewing the detailed overview of Sherwin-Williams Co's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.
Mary L Garceau | officer: SVP, Gen. Counsel & Secretary | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Heidi G Petz | officer: President, Consumer Brands Grp | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
John G Morikis | officer: President, Paint Stores Group | C/O THE SHERWIN WILLIAMS CO, 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Thomas L Williams | director | 6035 PARKLAND BOULEVARD, CLEVELAND OH 44124 |
Gregory P. Sofish | officer: SVP - Human Resources | 101 WEST PROSPECT AVENUE, 1180 MIDLAND BUILDING, CLEVELAND OH 44115 |
Justin T Binns | officer: President, Perf Coatings Grp | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Karl J Jorgenrud | officer: President, Perf Coatings Group | 101 WEST PROSPECT AVENUE, 1180 MIDLAND, CLEVELAND OH 44115 |
Todd D Rea | officer: President, Consumer Brands Grp | 101 W. PROSPECT AVENUE, 1180 MIDLAND, CLEVELAND OH 44115 |
Bryan J Young | officer: SVP - Corp Strategy & Devel. | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Joseph F Sladek | officer: Pres. & GM, Glob. Supply Chain | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Marta R Stewart | director | C/O NORFOLK SOUTHERN CORP, THREE COMMERCIAL PL, NORFOLK VA 23510-9219 |
Peter J. Ippolito | officer: President, The Americas Group | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Jane M. Cronin | officer: SVP - Corporate Controller | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Thomas P Gilligan | officer: SVP-Human Resources | 101 W. PROSPECT AVENUE, CLEVELAND OH 44115 |
Brian E Padden | officer: President, Consumer Brands Grp | 101 W. PROSPECT, CLEVELAND OH 44115 |
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