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KOSE (TSE:4922) Cyclically Adjusted Book per Share : 円3,720.92 (As of Mar. 2024)


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What is KOSE 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.

KOSE's adjusted book value per share for the three months ended in Mar. 2024 was 円4,757.490. 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 円3,720.92 for the trailing ten years ended in Mar. 2024.

During the past 12 months, KOSE's average Cyclically Adjusted Book Growth Rate was 10.00% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 11.60% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 10.30% 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 KOSE was 11.60% per year. The lowest was 7.80% per year. And the median was 11.00% per year.

As of today (2024-05-26), KOSE's current stock price is 円9881.00. KOSE's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was 円3,720.92. KOSE's Cyclically Adjusted PB Ratio of today is 2.66.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of KOSE was 11.49. The lowest was 2.05. And the median was 5.47.


KOSE Cyclically Adjusted Book per Share Historical Data

The historical data trend for KOSE'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.

KOSE Cyclically Adjusted Book per Share Chart

KOSE Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,422.33 2,625.07 2,810.20 3,314.03 3,648.13

KOSE 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 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 3,383.92 3,473.32 3,568.49 3,648.13 3,720.92

Competitive Comparison of KOSE's Cyclically Adjusted Book per Share

For the Household & Personal Products subindustry, KOSE'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.


KOSE's Cyclically Adjusted PB Ratio Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, KOSE's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



KOSE 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, KOSE's adjusted Book Value per Share data for the three months ended in Mar. 2024 was:

Adj_Book= Book Value per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=4757.49/107.2000*107.2000
=4,757.490

Current CPI (Mar. 2024) = 107.2000.

KOSE Quarterly Data

Book Value per Share CPI Adj_Book
201406 2,175.383 98.000 2,379.603
201409 2,215.228 98.500 2,410.888
201412 2,321.720 97.900 2,542.272
201503 2,455.303 97.900 2,688.544
201506 2,505.544 98.400 2,729.617
201509 2,610.372 98.500 2,840.933
201512 2,680.299 98.100 2,928.930
201603 2,583.720 97.900 2,829.160
201606 2,586.121 98.100 2,826.016
201609 2,623.233 98.000 2,869.496
201612 2,720.578 98.400 2,963.882
201703 2,871.548 98.100 3,137.920
201706 2,953.361 98.500 3,214.216
201709 2,961.355 98.800 3,213.130
201712 3,084.119 99.400 3,326.132
201803 3,227.025 99.200 3,487.269
201806 3,303.649 99.200 3,570.072
201809 3,502.143 99.900 3,758.055
201812 3,606.237 99.700 3,877.519
201903 3,660.768 99.700 3,936.152
201906 3,717.286 99.800 3,992.916
201909 3,859.476 100.100 4,133.225
201912 3,889.277 100.500 4,148.562
202003 3,920.394 100.300 4,190.092
202006 3,745.282 99.900 4,018.961
202009 3,778.432 99.900 4,054.534
202012 3,830.480 99.300 4,135.221
202103 3,952.865 99.900 4,241.713
202106 3,994.040 99.500 4,303.127
202109 4,066.838 100.100 4,355.295
202112 0.000 100.100 0.000
202203 4,194.372 101.100 4,447.445
202206 4,399.506 101.800 4,632.879
202209 4,479.540 103.100 4,657.679
202212 4,539.379 104.100 4,674.557
202303 4,530.583 104.400 4,652.093
202306 4,678.995 105.200 4,767.949
202309 4,696.122 106.200 4,740.342
202312 4,664.680 106.800 4,682.151
202403 4,757.490 107.200 4,757.490

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


KOSE  (TSE:4922) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=9881.00/3720.92
=2.66

* 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 KOSE was 11.49. The lowest was 2.05. And the median was 5.47.


Be Aware

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


KOSE Cyclically Adjusted Book per Share Related Terms

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


KOSE (TSE:4922) Business Description

Traded in Other Exchanges
Address
3-6-2, Nihonbashi, Chuo-ku, Tokyo, JPN, 103-8251
Kose is the third-largest cosmetics company in Japan and the second in the premium segment, and is renowned for its prestige skincare brands including Decorte and Albion. The firm has been managed by the Kobayashi family since it was established in 1946. Albion, a fully consolidated subsidiary in which Kose holds a 79.5% stake, is operated independently by another branch of the Kobayashi family. The group, with a collection 37 brands/lines spanning a wide range of price points, has captured 13.6% of Japan's premium beauty segment, according to Euromonitor. Japan remains the largest market contributing nearly 57% of sales, followed by Asia (28%) and North America (14%). Its distribution channels include department stores, specialty retailers, drugstores, travel retailers, and e-commerce.

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