GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » BWP Trust (ASX:BWP) » Definitions » Cyclically Adjusted PB Ratio

BWP Trust (ASX:BWP) Cyclically Adjusted PB Ratio : 1.02 (As of Apr. 27, 2024)


View and export this data going back to 1998. Start your Free Trial

What is BWP Trust Cyclically Adjusted PB Ratio?

As of today (2024-04-27), BWP Trust's current share price is A$3.46. BWP Trust's Cyclically Adjusted Book per Share for the fiscal year that ended in Jun23 was A$3.38. BWP Trust's Cyclically Adjusted PB Ratio for today is 1.02.

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

ASX:BWP' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.99   Med: 1.44   Max: 1.84
Current: 1.05

During the past 13 years, BWP Trust's highest Cyclically Adjusted PB Ratio was 1.84. The lowest was 0.99. And the median was 1.44.

ASX:BWP's Cyclically Adjusted PB Ratio is ranked worse than
64.57% of 494 companies
in the REITs industry
Industry Median: 0.775 vs ASX:BWP: 1.05

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.

BWP Trust's adjusted book value per share data of for the fiscal year that ended in Jun23 was A$3.745. 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 A$3.38 for the trailing ten years ended in Jun23.

Shiller PE for Stocks: The True Measure of Stock Valuation


BWP Trust Cyclically Adjusted PB Ratio Historical Data

The historical data trend for BWP Trust'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.

BWP Trust Cyclically Adjusted PB Ratio Chart

BWP Trust Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.49 1.51 1.55 1.27 1.07

BWP Trust Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Cyclically Adjusted PB Ratio 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 - 1.27 - 1.07 -

Competitive Comparison of BWP Trust's Cyclically Adjusted PB Ratio

For the REIT - Industrial subindustry, BWP Trust'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.


BWP Trust's Cyclically Adjusted PB Ratio Distribution in the REITs Industry

For the REITs industry and Real Estate sector, BWP Trust's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



BWP Trust 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.

BWP Trust's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=3.46/3.38
=1.02

* 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.

BWP Trust's Cyclically Adjusted Book per Share for the fiscal year that ended in Jun23 is calculated as:

For example, BWP Trust's adjusted Book Value per Share data for the fiscal year that ended in Jun23 was:

Adj_Book=Book Value per Share/CPI of Jun23 (Change)*Current CPI (Jun23)
=3.745/124.1700*124.1700
=3.745

Current CPI (Jun23) = 124.1700.

BWP Trust Annual Data

Book Value per Share CPI Adj_Book
201406 2.067 98.352 2.610
201506 2.244 99.838 2.791
201606 2.561 100.859 3.153
201706 2.743 102.809 3.313
201806 2.854 104.945 3.377
201906 2.918 106.617 3.398
202006 3.065 106.246 3.582
202106 3.295 110.332 3.708
202206 3.870 117.112 4.103
202306 3.745 124.170 3.745

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.


BWP Trust  (ASX:BWP) 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.


BWP Trust Cyclically Adjusted PB Ratio Related Terms

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


BWP Trust (ASX:BWP) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » BWP Trust (ASX:BWP) » Definitions » Cyclically Adjusted PB Ratio
Traded in Other Exchanges
N/A
Address
123 St Georges Terrace, Level 14, Brookfield Place Tower 2, Perth, WA, AUS, 6000
BWP Trust is an Australian REIT focused on owing warehouse/bulky goods retailing properties with relatively large sites and high visibility and access to arterial roads. The portfolio of properties it owns are diversified across most Australian states and are on long-term leases to Australia's dominant home improvement chain: Bunnings Group. Bunnings is a wholly owned subsidiary of Wesfarmers. Wesfarmers is a wide-moat, top 10 ASX-listed company by market capitalisation. BWP Trust is also externally managed by a wholly owned subsidiary of Wesfarmers and Wesfarmers also owns 24% of the units in the trust.