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Zhejiang Expressway Co (Zhejiang Expressway Co) Cyclically Adjusted PB Ratio : 0.94 (As of Jun. 10, 2024)


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What is Zhejiang Expressway Co Cyclically Adjusted PB Ratio?

As of today (2024-06-10), Zhejiang Expressway Co's current share price is $0.68426. Zhejiang Expressway Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $0.73. Zhejiang Expressway Co's Cyclically Adjusted PB Ratio for today is 0.94.

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

ZHEXF' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 0.86   Med: 1.3   Max: 2.23
Current: 0.97

During the past years, Zhejiang Expressway Co's highest Cyclically Adjusted PB Ratio was 2.23. The lowest was 0.86. And the median was 1.30.

ZHEXF's Cyclically Adjusted PB Ratio is ranked better than
55.06% of 1264 companies
in the Construction industry
Industry Median: 1.095 vs ZHEXF: 0.97

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.

Zhejiang Expressway Co's adjusted book value per share data for the three months ended in Dec. 2023 was $0.930. 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 $0.73 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Zhejiang Expressway Co Cyclically Adjusted PB Ratio Historical Data

The historical data trend for Zhejiang Expressway Co'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.

Zhejiang Expressway Co Cyclically Adjusted PB Ratio Chart

Zhejiang Expressway Co 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 1.33 1.21 1.24 1.03 0.94

Zhejiang Expressway Co Quarterly Data
Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Jun19 Sep19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Sep22 Dec22 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 1.03 1.01 0.98 0.94 -

Competitive Comparison of Zhejiang Expressway Co's Cyclically Adjusted PB Ratio

For the Infrastructure Operations subindustry, Zhejiang Expressway Co'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.


Zhejiang Expressway Co's Cyclically Adjusted PB Ratio Distribution in the Construction Industry

For the Construction industry and Industrials sector, Zhejiang Expressway Co's Cyclically Adjusted PB Ratio distribution charts can be found below:

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



Zhejiang Expressway Co 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.

Zhejiang Expressway Co's Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=0.68426/0.73
=0.94

* 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.

Zhejiang Expressway Co's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, Zhejiang Expressway Co's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book=Book Value per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=0.93/114.7809*114.7809
=0.930

Current CPI (Dec. 2023) = 114.7809.

Zhejiang Expressway Co Quarterly Data

Book Value per Share CPI Adj_Book
201206 0.501 93.495 0.615
201209 0.520 94.482 0.632
201212 0.548 95.237 0.660
201303 0.547 96.372 0.651
201306 0.529 95.984 0.633
201309 0.548 97.332 0.646
201312 0.560 97.624 0.658
201403 0.569 98.600 0.662
201406 0.545 98.200 0.637
201409 0.574 98.900 0.666
201412 0.585 99.000 0.678
201503 0.602 99.900 0.692
201506 0.596 99.500 0.688
201509 0.606 100.500 0.692
201512 0.553 100.600 0.631
201603 0.570 102.200 0.640
201606 0.545 101.400 0.617
201609 0.565 102.400 0.633
201612 0.564 102.600 0.631
201703 0.590 103.200 0.656
201706 0.604 103.100 0.672
201709 0.650 104.100 0.717
201712 0.686 104.500 0.753
201803 0.724 105.300 0.789
201806 0.697 104.900 0.763
201809 0.684 106.600 0.736
201812 0.726 106.500 0.782
201906 0.611 107.700 0.651
201909 0.627 109.800 0.655
201912 0.541 111.200 0.558
202006 0.624 110.400 0.649
202012 0.769 111.500 0.792
202106 0.824 111.769 0.846
202112 0.884 113.108 0.897
202206 0.866 114.558 0.868
202209 0.000 115.339 0.000
202212 0.916 115.116 0.913
202306 0.947 114.558 0.949
202309 0.970 115.339 0.965
202312 0.930 114.781 0.930

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.


Zhejiang Expressway Co  (OTCPK:ZHEXF) 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.


Zhejiang Expressway Co Cyclically Adjusted PB Ratio Related Terms

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Zhejiang Expressway Co (Zhejiang Expressway Co) Business Description

Traded in Other Exchanges
Address
199 Wuxing Road, 5th Floor, No. 2, Mingzhu International Business Center, Zhejiang Province, Hangzhou, CHN, 310020
Zhejiang Expressway Co Ltd is a Chinese infrastructure company which, through its subsidiaries, develops, maintains, and operates high-grade roads. The company organizes itself into three segments: toll road business, securities business, and other business. The company derives the majority of revenue and earnings from the toll road business. The securities business, the next most significant segment, provides brokerage services, including advisory, margin lending, and asset management. The company earns the entirety of revenue domestically.

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