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Black Hills (FRA:BHI) Cyclically Adjusted Book per Share : €40.21 (As of Mar. 2024)


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What is Black Hills 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.

Black Hills's adjusted book value per share for the three months ended in Mar. 2024 was €44.525. 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 €40.21 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Black Hills's average Cyclically Adjusted Book Growth Rate was 5.60% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 8.00% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 6.70% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 4.20% 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 Black Hills was 11.00% per year. The lowest was 1.90% per year. And the median was 5.60% per year.

As of today (2024-06-09), Black Hills's current stock price is €49.61. Black Hills's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was €40.21. Black Hills's Cyclically Adjusted PB Ratio of today is 1.23.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Black Hills was 2.59. The lowest was 1.12. And the median was 1.86.


Black Hills Cyclically Adjusted Book per Share Historical Data

The historical data trend for Black Hills'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.

Black Hills Cyclically Adjusted Book per Share Chart

Black Hills 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 29.20 27.47 32.90 38.66 39.13

Black Hills 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 38.13 39.06 40.63 39.13 40.21

Competitive Comparison of Black Hills's Cyclically Adjusted Book per Share

For the Utilities - Regulated Gas subindustry, Black Hills'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.


Black Hills's Cyclically Adjusted PB Ratio Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, Black Hills's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Black Hills 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, Black Hills'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)
=44.525/131.7762*131.7762
=44.525

Current CPI (Mar. 2024) = 131.7762.

Black Hills Quarterly Data

Book Value per Share CPI Adj_Book
201406 22.114 100.560 28.979
201409 23.588 100.428 30.951
201412 24.579 99.070 32.693
201503 29.020 99.621 38.387
201506 26.051 100.684 34.096
201509 25.569 100.392 33.562
201512 26.287 99.792 34.712
201603 25.845 100.470 33.898
201606 26.598 101.688 34.468
201609 26.921 101.861 34.827
201612 28.674 101.863 37.095
201703 29.283 102.862 37.514
201706 27.878 103.349 35.546
201709 26.398 104.136 33.405
201712 26.972 104.011 34.172
201803 27.522 105.290 34.445
201806 29.049 106.317 36.005
201809 28.998 106.507 35.878
201812 31.958 105.998 39.730
201903 33.420 107.251 41.062
201906 33.576 108.070 40.941
201909 34.419 108.329 41.869
201912 34.581 108.420 42.031
202003 36.391 108.902 44.035
202006 35.569 108.767 43.093
202009 34.083 109.815 40.899
202012 33.529 109.897 40.204
202103 35.066 111.754 41.348
202106 34.767 114.631 39.967
202109 35.927 115.734 40.907
202112 38.100 117.630 42.682
202203 40.224 121.301 43.698
202206 41.942 125.017 44.210
202209 44.799 125.227 47.142
202212 42.769 125.222 45.008
202303 43.426 127.348 44.936
202306 42.801 128.729 43.814
202309 43.649 129.860 44.293
202312 43.234 129.419 44.021
202403 44.525 131.776 44.525

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


Black Hills  (FRA:BHI) 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.

Black Hills's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=49.61/40.21
=1.23

* 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 Black Hills was 2.59. The lowest was 1.12. And the median was 1.86.


Be Aware

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


Black Hills Cyclically Adjusted Book per Share Related Terms

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


Black Hills (FRA:BHI) Business Description

Industry
Traded in Other Exchanges
Address
7001 Mount Rushmore Road, Rapid City, SD, USA, 57702
Black Hills Corp is a U.S.-based energy company that operates through its regulated Electric Utilities, regulated Gas Utilities, Power Generation and Mining segments. These segments operate in states in the Midwest and mountain regions in the U.S. The company's customers include residential, commercial, industrial, and municipal consumers. These customers are residential. Black Hills derives the majority of its revenue from its utility business group, specifically from electric utilities.

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