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Frontline (OSL:FRO) Cyclically Adjusted Book per Share : kr88.53 (As of Mar. 2024)


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What is Frontline 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.

Frontline's adjusted book value per share for the three months ended in Mar. 2024 was kr113.304. 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 kr88.53 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Frontline's average Cyclically Adjusted Book Growth Rate was 21.60% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was -6.00% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was -18.20% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was -18.00% 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 Frontline was 10.20% per year. The lowest was -29.40% per year. And the median was -13.30% per year.

As of today (2024-06-07), Frontline's current stock price is kr285.80. Frontline's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was kr88.53. Frontline's Cyclically Adjusted PB Ratio of today is 3.23.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Frontline was 3.40. The lowest was 0.16. And the median was 0.45.


Frontline Cyclically Adjusted Book per Share Historical Data

The historical data trend for Frontline'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.

Frontline Cyclically Adjusted Book per Share Chart

Frontline 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 125.82 84.07 59.87 65.48 80.86

Frontline 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 71.45 77.40 80.88 80.86 88.53

Competitive Comparison of Frontline's Cyclically Adjusted Book per Share

For the Oil & Gas Midstream subindustry, Frontline'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.


Frontline's Cyclically Adjusted PB Ratio Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Frontline's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Frontline 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, Frontline'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)
=113.304/131.7762*131.7762
=113.304

Current CPI (Mar. 2024) = 131.7762.

Frontline Quarterly Data

Book Value per Share CPI Adj_Book
201406 -20.569 100.560 -26.954
201409 -39.567 100.428 -51.918
201412 -22.990 99.070 -30.580
201503 -0.131 99.621 -0.173
201506 42.366 100.684 55.449
201509 46.974 100.392 61.659
201512 80.431 99.792 106.209
201603 79.508 100.470 104.282
201606 75.501 101.688 97.841
201609 73.226 101.861 94.731
201612 75.609 101.863 97.813
201703 75.536 102.862 96.769
201706 72.706 103.349 92.704
201709 66.314 104.136 83.916
201712 58.158 104.011 73.683
201803 52.967 105.290 66.291
201806 54.245 106.317 67.235
201809 55.271 106.507 68.384
201812 59.117 105.998 73.494
201903 61.027 107.251 74.982
201906 61.334 108.070 74.789
201909 64.504 108.329 78.465
201912 69.205 108.420 84.113
202003 83.093 108.902 100.547
202006 80.313 108.767 97.303
202009 75.139 109.815 90.166
202012 71.000 109.897 85.135
202103 70.659 111.754 83.318
202106 68.765 114.631 79.050
202109 69.196 115.734 78.787
202112 72.478 117.630 81.195
202203 73.099 121.301 79.412
202206 91.330 125.017 96.268
202209 93.816 125.227 98.723
202212 100.316 125.222 105.567
202303 105.116 127.348 108.771
202306 111.384 128.729 114.021
202309 107.253 129.860 108.836
202312 107.939 129.419 109.905
202403 113.304 131.776 113.304

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


Frontline  (OSL:FRO) 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.

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

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=285.80/88.53
=3.23

* 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 Frontline was 3.40. The lowest was 0.16. And the median was 0.45.


Be Aware

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


Frontline Cyclically Adjusted Book per Share Related Terms

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


Frontline (OSL:FRO) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Frontline Plc (OSL:FRO) » Definitions » Cyclically Adjusted Book per Share
Address
8, John Kennedy Street, 7th floor, Iris House, Office 740B, Limassol, CYP, 3106
Frontline Plc is an international shipping company engaged in the seaborne transportation of crude oil and oil products. Group operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. Its geographical area of operation includes Arabian Gulf, West African, the North Sea, and the Caribbean. Frontline earns revenue through voyage charters, time charters, and a finance lease. It is also involved in the charter, purchase, and sale of vessels.

Frontline (OSL:FRO) Headlines