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China Construction Bank (SHSE:601939) Cyclically Adjusted PB Ratio : 0.82 (As of May. 14, 2024)


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What is China Construction Bank Cyclically Adjusted PB Ratio?

As of today (2024-05-14), China Construction Bank's current share price is ¥7.04. China Construction Bank's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was ¥8.58. China Construction Bank's Cyclically Adjusted PB Ratio for today is 0.82.

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

SHSE:601939' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.7   Med: 1.3   Max: 2.22
Current: 0.82

During the past years, China Construction Bank's highest Cyclically Adjusted PB Ratio was 2.22. The lowest was 0.70. And the median was 1.30.

SHSE:601939's Cyclically Adjusted PB Ratio is ranked better than
59.71% of 1184 companies
in the Banks industry
Industry Median: 0.935 vs SHSE:601939: 0.82

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.

China Construction Bank's adjusted book value per share data for the three months ended in Mar. 2024 was ¥12.728. 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 ¥8.58 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


China Construction Bank Cyclically Adjusted PB Ratio Historical Data

The historical data trend for China Construction Bank'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.

China Construction Bank Cyclically Adjusted PB Ratio Chart

China Construction Bank Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.27 1.00 0.84 0.73 0.78

China Construction Bank 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 0.75 0.78 0.76 0.78 0.80

Competitive Comparison of China Construction Bank's Cyclically Adjusted PB Ratio

For the Banks - Diversified subindustry, China Construction Bank'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.


China Construction Bank's Cyclically Adjusted PB Ratio Distribution in the Banks Industry

For the Banks industry and Financial Services sector, China Construction Bank's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



China Construction Bank 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.

China Construction Bank's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=7.04/8.58
=0.82

* 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.

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

For example, China Construction Bank'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)
=12.728/114.6694*114.6694
=12.728

Current CPI (Mar. 2024) = 114.6694.

China Construction Bank Quarterly Data

Book Value per Share CPI Adj_Book
201406 4.551 98.200 5.314
201409 4.791 98.900 5.555
201412 4.966 99.000 5.752
201503 5.223 99.900 5.995
201506 5.205 99.500 5.999
201509 5.453 100.500 6.222
201512 5.657 100.600 6.448
201603 5.919 102.200 6.641
201606 5.901 101.400 6.673
201609 6.159 102.400 6.897
201612 6.227 102.600 6.960
201703 6.471 103.200 7.190
201706 6.435 103.100 7.157
201709 6.690 104.100 7.369
201712 6.800 104.500 7.462
201803 7.031 105.300 7.657
201806 7.074 104.900 7.733
201809 7.370 106.600 7.928
201812 7.587 106.500 8.169
201903 7.893 107.700 8.404
201906 7.904 107.700 8.415
201909 8.225 109.800 8.590
201912 8.546 111.200 8.813
202003 8.945 112.300 9.134
202006 8.805 110.400 9.146
202009 8.970 111.700 9.208
202012 9.219 111.500 9.481
202103 9.539 112.662 9.709
202106 9.508 111.769 9.755
202109 9.850 112.215 10.065
202112 10.113 113.108 10.253
202203 10.453 114.335 10.484
202206 10.397 114.558 10.407
202209 10.924 115.339 10.861
202212 11.181 115.116 11.138
202303 11.529 115.116 11.484
202306 11.501 114.558 11.512
202309 12.065 115.339 11.995
202312 12.360 114.669 12.360
202403 12.728 114.669 12.728

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.


China Construction Bank  (SHSE:601939) 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.


China Construction Bank Cyclically Adjusted PB Ratio Related Terms

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


China Construction Bank (SHSE:601939) Business Description

Traded in Other Exchanges
Address
No. 25, Finance Street, Xicheng District, Beijing, CHN, 100033
As one of the big four banks, China Construction Bank is headquartered in Beijing. The bank went public on the Hong Kong Stock Exchange in 2005 and listed shares in mainland China in 2007. Central Huijin Investment, China's sovereign wealth fund manager is the largest shareholder with a 57% share. Fullerton Financial Holdings (a subsidiary of Temasek) is the company's second-largest shareholder with a 4.99% stake. CCB strives to provide customers with comprehensive financial services. Corporate banking, retail banking, and wholesale banking business segments accounted for 36%, 57%, and 7% of profit before tax, respectively, in 2022.

China Construction Bank (SHSE:601939) Headlines

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