GURUFOCUS.COM » STOCK LIST » USA » NAS » Amgen Inc (NAS:AMGN) » Definitions » Cyclically Adjusted PB Ratio
Switch to:

Amgen (NAS:AMGN) Cyclically Adjusted PB Ratio

: 9.69 (As of Today)
View and export this data going back to 1983. Start your Free Trial

As of today (2024-03-04), Amgen's current share price is $284.22. Amgen's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $29.34. Amgen's Cyclically Adjusted PB Ratio for today is 9.69.

The historical rank and industry rank for Amgen's Cyclically Adjusted PB Ratio or its related term are showing as below:

AMGN' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 4.37   Med: 6.32   Max: 11.02
Current: 9.56

During the past years, Amgen's highest Cyclically Adjusted PB Ratio was 11.02. The lowest was 4.37. And the median was 6.32.

AMGN's Cyclically Adjusted PB Ratio is ranked worse than
93.54% of 619 companies
in the Drug Manufacturers industry
Industry Median: 1.8 vs AMGN: 9.56

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 adjusted book value per share data for the three months ended in Dec. 2023 was $11.640. 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 $29.34 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Amgen Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Amgen's Cyclically Adjusted PB Ratio 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 Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 7.57 7.40 7.15 8.54 9.82

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 PB Ratio 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 Premium Member Only Premium Member Only Premium Member Only 8.54 7.88 7.29 8.92 9.82

Competitive Comparison

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 Cyclically Adjusted PB Ratio Distribution

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 PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=284.22/29.34
=9.69

* 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.

Amgen's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

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)
=11.64/129.4194*129.4194
=11.640

Current CPI (Dec. 2023) = 129.4194.

Amgen Quarterly Data

Book Value per Share CPI Adj_Book
201403 30.045 99.695 39.003
201406 32.107 100.560 41.321
201409 33.296 100.428 42.908
201412 33.901 99.070 44.286
201503 34.858 99.621 45.285
201506 36.206 100.684 46.539
201509 37.047 100.392 47.759
201512 37.245 99.792 48.303
201603 38.176 100.470 49.176
201606 40.236 101.688 51.209
201609 41.317 101.861 52.495
201612 40.481 101.863 51.432
201703 41.621 102.862 52.367
201706 43.413 103.349 54.364
201709 44.356 104.136 55.125
201712 34.950 104.011 43.488
201803 23.439 105.290 28.811
201806 22.972 106.317 27.964
201809 22.403 106.507 27.223
201812 19.854 105.998 24.241
201903 17.630 107.251 21.274
201906 17.927 108.070 21.469
201909 18.328 108.329 21.896
201912 16.356 108.420 19.524
202003 16.131 108.902 19.170
202006 18.177 108.767 21.628
202009 18.781 109.815 22.134
202012 16.270 109.897 19.160
202103 16.225 111.754 18.790
202106 14.479 114.631 16.347
202109 14.543 115.734 16.263
202112 12.001 117.630 13.204
202203 1.715 121.301 1.830
202206 4.522 125.017 4.681
202209 6.847 125.227 7.076
202212 6.856 125.222 7.086
202303 10.009 127.348 10.172
202306 12.677 128.729 12.745
202309 14.308 129.860 14.260
202312 11.640 129.419 11.640

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


Amgen  (NAS:AMGN) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Amgen Cyclically Adjusted PB Ratio Related Terms

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


Amgen (NAS: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.
Executives
Nancy A. Grygiel officer: SVP & CCO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Jonathan P Graham officer: SVP, Gen. Counsel & Secy. 2099 PENNSYLVANIA AVENUE, NW, 12TH FLOOR, WASHINGTON DC 20006
Matthew C. Busch officer: VP, Finance & CAO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Murdo Gordon officer: EVP Global Commercial Ops C/O BRISTOL-MYERS SQUIBB COMPANY, 345 PARK AVE, NEW YORK NY 10154
Rachna Khosla officer: SVP, Business Development ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
R Sanders Williams director DUKE UNIVERSITY SCHOOL OF MEDICINE, TRENT DRIVE, DURHAM NC 27706
Robert Eckert director MATTEL, INC., 333 CONTINENTAL BLVD, M1-1518, EL SEGUNDO CA 90245
Michael V Drake director ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Derek Miller officer: SVP, Human Resources ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Omar Ishrak director 710 MEDTRONIC PKWY, MS LC300, MINNEAPOLIS MN 55432
Ronald D Sugar director 10877 WILSHIRE BLVD., SUITE 1650, LOS ANGELES CA 900274
Linda H. Louie officer: VP, Finance & CAO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320
Amy E Miles director
David Piacquad officer: SVP, Business Development ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320-1799
Peter H. Griffith officer: EVP & CFO ONE AMGEN CENTER DRIVE, THOUSAND OAKS CA 91320