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Amgen (WBO:AMGN) Cyclically Adjusted Book per Share : €26.55 (As of Dec. 2023)


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What is Amgen 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.

Amgen's adjusted book value per share for the three months ended in Dec. 2023 was €10.674. 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 €26.55 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Amgen's average Cyclically Adjusted Book Growth Rate was -4.60% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -1.90% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was -1.50% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 3.00% 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 Amgen was 38.80% per year. The lowest was -1.90% per year. And the median was 15.80% per year.

As of today (2024-04-29), Amgen's current stock price is €252.45. Amgen's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was €26.55. Amgen's Cyclically Adjusted PB Ratio of today is 9.51.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Amgen was 11.02. The lowest was 4.49. And the median was 6.35.


Amgen Cyclically Adjusted Book per Share Historical Data

The historical data trend for Amgen'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.

Amgen Cyclically Adjusted Book per Share Chart

Amgen 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 28.59 25.08 28.14 28.84 26.55

Amgen Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 28.84 28.02 27.83 28.56 26.55

Competitive Comparison of Amgen's Cyclically Adjusted Book per Share

For the Drug Manufacturers - General subindustry, Amgen'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.


Amgen's Cyclically Adjusted PB Ratio Distribution in the Drug Manufacturers Industry

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

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



Amgen 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, Amgen'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)
=10.674/129.4194*129.4194
=10.674

Current CPI (Dec. 2023) = 129.4194.

Amgen Quarterly Data

Book Value per Share CPI Adj_Book
201403 21.722 99.695 28.199
201406 23.631 100.560 30.413
201409 25.838 100.428 33.297
201412 27.493 99.070 35.915
201503 32.209 99.621 41.843
201506 32.260 100.684 41.467
201509 33.009 100.392 42.553
201512 34.191 99.792 44.342
201603 34.282 100.470 44.160
201606 35.810 101.688 45.576
201609 36.814 101.861 46.774
201612 38.376 101.863 48.758
201703 38.915 102.862 48.962
201706 38.638 103.349 48.385
201709 37.215 104.136 46.251
201712 29.533 104.011 36.747
201803 19.009 105.290 23.365
201806 19.664 106.317 23.937
201809 19.199 106.507 23.329
201812 17.452 105.998 21.308
201903 15.603 107.251 18.828
201906 15.866 108.070 19.000
201909 16.642 108.329 19.882
201912 14.720 108.420 17.571
202003 14.599 108.902 17.350
202006 16.141 108.767 19.206
202009 15.945 109.815 18.792
202012 13.374 109.897 15.750
202103 13.629 111.754 15.783
202106 12.017 114.631 13.567
202109 12.362 115.734 13.824
202112 10.621 117.630 11.686
202203 1.557 121.301 1.661
202206 4.278 125.017 4.429
202209 6.916 125.227 7.148
202212 6.472 125.222 6.689
202303 9.349 127.348 9.501
202306 11.701 128.729 11.764
202309 13.406 129.860 13.361
202312 10.674 129.419 10.674

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


Amgen  (WBO:AMGN) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=252.45/26.55
=9.51

* 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 Amgen was 11.02. The lowest was 4.49. And the median was 6.35.


Be Aware

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


Amgen Cyclically Adjusted Book per Share Related Terms

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


Amgen (WBO:AMGN) Business Description

Industry
Address
One Amgen Center Drive, Thousand Oaks, CA, USA, 91320-1799
Amgen is a leader in biotechnology-based human therapeutics. Flagship drugs include red blood cell boosters Epogen and Aranesp, immune system boosters Neupogen and Neulasta, and Enbrel and Otezla for inflammatory diseases. Amgen introduced its first cancer therapeutic, Vectibix, in 2006 and markets bone-strengthening drug Prolia/Xgeva (approved 2010) and Evenity (2019). The acquisition of Onyx bolstered the firm's therapeutic oncology portfolio with Kyprolis. Recent launches include Repatha (cholesterol-lowering), Aimovig (migraine), Lumakras (lung cancer), and Tezspire (asthma). The 2023 Horizon acquisition brings several rare disease drugs, including thyroid eye disease drug Tepezza. Amgen also has a growing biosimilar portfolio.

Amgen (WBO:AMGN) Headlines

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