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SmartFinancial (SmartFinancial) Cyclically Adjusted PB Ratio : 0.90 (As of May. 14, 2024)


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What is SmartFinancial Cyclically Adjusted PB Ratio?

As of today (2024-05-14), SmartFinancial's current share price is $22.62. SmartFinancial's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2024 was $25.00. SmartFinancial's Cyclically Adjusted PB Ratio for today is 0.90.

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

SMBK' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.47   Med: 0.98   Max: 1.41
Current: 0.91

During the past years, SmartFinancial's highest Cyclically Adjusted PB Ratio was 1.41. The lowest was 0.47. And the median was 0.98.

SMBK's Cyclically Adjusted PB Ratio is ranked better than
52.62% of 1184 companies
in the Banks industry
Industry Median: 0.935 vs SMBK: 0.91

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.

SmartFinancial's adjusted book value per share data for the three months ended in Mar. 2024 was $27.367. 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 $25.00 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


SmartFinancial Cyclically Adjusted PB Ratio Historical Data

The historical data trend for SmartFinancial'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.

SmartFinancial Cyclically Adjusted PB Ratio Chart

SmartFinancial 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 1.24 0.93 1.27 1.17 0.99

SmartFinancial 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 0.97 0.88 0.86 0.99 0.84

Competitive Comparison of SmartFinancial's Cyclically Adjusted PB Ratio

For the Banks - Regional subindustry, SmartFinancial'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.


SmartFinancial's Cyclically Adjusted PB Ratio Distribution in the Banks Industry

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

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



SmartFinancial 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.

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

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=22.62/25
=0.90

* 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.

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

For example, SmartFinancial'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)
=27.367/129.4194*129.4194
=27.367

Current CPI (Mar. 2024) = 129.4194.

SmartFinancial Quarterly Data

Book Value per Share CPI Adj_Book
201406 15.354 100.560 19.760
201409 15.360 100.428 19.794
201412 33.724 99.070 44.055
201503 15.634 99.621 20.310
201506 15.472 100.684 19.888
201509 17.171 100.392 22.136
201512 17.251 99.792 22.373
201603 17.530 100.470 22.581
201606 17.693 101.688 22.518
201609 17.868 101.861 22.702
201612 17.847 101.863 22.675
201703 16.143 102.862 20.311
201706 16.392 103.349 20.527
201709 16.570 104.136 20.593
201712 18.458 104.011 22.967
201803 18.600 105.290 22.863
201806 19.480 106.317 23.713
201809 19.736 106.507 23.982
201812 20.312 105.998 24.800
201903 20.821 107.251 25.125
201906 21.473 108.070 25.715
201909 21.926 108.329 26.195
201912 22.326 108.420 26.650
202003 22.086 108.902 26.247
202006 22.573 108.767 26.859
202009 22.962 109.815 27.061
202012 23.642 109.897 27.842
202103 24.103 111.754 27.913
202106 24.712 114.631 27.900
202109 25.279 115.734 28.268
202112 25.557 117.630 28.119
202203 24.864 121.301 26.528
202206 24.880 125.017 25.756
202209 24.557 125.227 25.379
202212 25.588 125.222 26.446
202303 26.076 127.348 26.500
202306 26.161 128.729 26.301
202309 26.282 129.860 26.193
202312 27.070 129.419 27.070
202403 27.367 129.419 27.367

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.


SmartFinancial  (NYSE:SMBK) 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.


SmartFinancial Cyclically Adjusted PB Ratio Related Terms

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


SmartFinancial (SmartFinancial) Business Description

Traded in Other Exchanges
N/A
Address
5401 Kingston Pike, Suite 600, Knoxville, TN, USA, 37919
SmartFinancial Inc operates as a bank holding company for SmartBank. It offers various banking and financial services to individuals and corporate customers. The principal business of the Bank consists of attracting deposits from the general public and investing those funds, together with funds generated from operations and from principal and interest payments on loans, primarily in commercial loans, commercial and residential real estate loans, consumer loans, and residential and commercial construction loans. The primary source of revenue is interest income from earning assets, namely loans and securities.
Executives
John M Presley director 770 NORTH WATER STREET, ATTENTION: CORPORATE SECRETARIES DEPT., MILWAUKEE WI 53202
Rhett D. Jordan officer: Chief Credit Officer & EVP 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Geoffrey Alan Wolpert director 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Ted Charles Miller director 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Keith Edward Whaley director 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Wesley Miller Welborn director, officer: Chairman 6401 LEE HIGHWAY, STE B, CHATTANOOGA TN 37421
David Austin Ogle director 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Carroll William Young Jr. director, officer: President and CEO 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Cathy G Ackermann director 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Clifton N Miller director 5401 KINGSTON PIKE SUITE 600, KNOXVILLE TN 37919
Ronald J Gorczynski officer: Chief Financial Officer & EVP 3980 PREMIER DRIVE, SUITE 210, HIGH POINT NC 27265
Carroll William Young Sr. director, officer: Vice-Chairman 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
Monique Berke director 6401 LEE HIGHWAY, SUITE 119, CHATTANOOGA TN 37421
Ottis H Phillips director 5401 KINGSTON PIKE, SUITE 600, KNOXVILLE TN 37919
James Beaumont Wicks director 38 RIDGELAND, TUSCALOOSA AL 35406

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