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Apple (BUE:AAPL) Cyclically Adjusted PB Ratio : 34.90 (As of Jun. 02, 2024)


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What is Apple Cyclically Adjusted PB Ratio?

As of today (2024-06-02), Apple's current share price is ARS11741.00. Apple's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was ARS336.38. Apple's Cyclically Adjusted PB Ratio for today is 34.90.

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

BUE:AAPL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 7.54   Med: 11.94   Max: 32.13
Current: 31.29

During the past years, Apple's highest Cyclically Adjusted PB Ratio was 32.13. The lowest was 7.54. And the median was 11.94.

BUE:AAPL's Cyclically Adjusted PB Ratio is ranked worse than
99.58% of 1886 companies
in the Hardware industry
Industry Median: 1.66 vs BUE:AAPL: 31.29

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.

Apple's adjusted book value per share data for the three months ended in Mar. 2024 was ARS679.383. 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 ARS336.38 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Apple Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Apple'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.

Apple Cyclically Adjusted PB Ratio Chart

Apple Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10.93 21.27 24.26 22.35 27.84

Apple Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 26.80 31.50 27.84 31.68 27.91

Competitive Comparison of Apple's Cyclically Adjusted PB Ratio

For the Consumer Electronics subindustry, Apple'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.


Apple's Cyclically Adjusted PB Ratio Distribution in the Hardware Industry

For the Hardware industry and Technology sector, Apple's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Apple 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=11741.00/336.38
=34.90

* 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.

Apple's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Apple'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)
=679.383/131.7762*131.7762
=679.383

Current CPI (Mar. 2024) = 131.7762.

Apple Quarterly Data

Book Value per Share CPI Adj_Book
201406 6.838 100.560 8.961
201409 6.672 100.428 8.755
201412 7.543 99.070 10.033
201503 8.229 99.621 10.885
201506 8.341 100.684 10.917
201509 8.383 100.392 11.004
201512 12.479 99.792 16.479
201603 14.493 100.470 19.009
201606 13.670 101.688 17.715
201609 14.941 101.861 19.329
201612 16.643 101.863 21.530
201703 16.548 102.862 21.200
201706 17.601 103.349 22.442
201709 19.097 104.136 24.166
201712 21.955 104.011 27.816
201803 21.553 105.290 26.975
201806 24.670 106.317 30.578
201809 34.557 106.507 42.756
201812 39.166 105.998 48.691
201903 37.431 107.251 45.991
201906 39.635 108.070 48.330
201909 47.466 108.329 57.740
201912 50.873 108.420 61.832
202003 46.916 108.902 56.771
202006 48.139 108.767 58.322
202009 47.631 109.815 57.156
202012 53.402 109.897 64.034
202103 62.255 111.754 73.409
202106 61.308 114.631 70.478
202109 62.603 115.734 71.280
202112 74.137 117.630 83.053
202203 74.432 121.301 80.860
202206 72.416 125.017 76.331
202209 73.617 125.227 77.467
202212 100.071 125.222 105.309
202303 130.186 127.348 134.713
202306 154.107 128.729 157.755
202309 233.143 129.860 236.584
202312 288.433 129.419 293.686
202403 679.383 131.776 679.383

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.


Apple  (BUE:AAPL) 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.


Apple Cyclically Adjusted PB Ratio Related Terms

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


Apple (BUE:AAPL) Business Description

Industry
Address
One Apple Park Way, Cupertino, CA, USA, 95014
Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

Apple (BUE:AAPL) Headlines

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