Wharf Real Estate Investment Co (HKSE:01997) Cyclically Adjusted PS Ratio : 4.29 (As of May. 09, 2024)

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What is Wharf Real Estate Investment Co Cyclically Adjusted PS Ratio?

As of today (2024-05-09), Wharf Real Estate Investment Co's current share price is HK$25.10. Wharf Real Estate Investment Co's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec23 was HK$5.85. Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio for today is 4.29.

The historical rank and industry rank for Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio or its related term are showing as below:

HKSE:01997' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 3.83 Med: 4.24 Max: 4.72
Current: 4.27

During the past 10 years, Wharf Real Estate Investment Co's highest Cyclically Adjusted PS Ratio was 4.72. The lowest was 3.83. And the median was 4.24.

HKSE:01997's Cyclically Adjusted PS Ratio is ranked worse than
72.62% of 1366 companies
in the Real Estate industry
Industry Median: 1.74 vs HKSE:01997: 4.27

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 PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Wharf Real Estate Investment Co's adjusted revenue per share data of for the fiscal year that ended in Dec23 was HK$4.383. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is HK$5.85 for the trailing ten years ended in Dec23.

Shiller PE for Stocks: The True Measure of Stock Valuation

Wharf Real Estate Investment Co Cyclically Adjusted PS Ratio Historical Data

The historical data trend for Wharf Real Estate Investment Co's Cyclically Adjusted PS 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.

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Wharf Real Estate Investment Co Cyclically Adjusted PS Ratio Chart

Wharf Real Estate Investment Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Cyclically Adjusted PS Ratio

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4.51

Wharf Real Estate Investment Co Semi-Annual Data
	Dec14	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Cyclically Adjusted PS Ratio	Get a 7-Day Free Trial													-	-	-	-	4.51

Competitive Comparison of Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio

For the Real Estate Services subindustry, Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS 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.

Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio falls into.

Wharf Real Estate Investment Co Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS 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 PS Ratio.

Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio	=	Share Price	/	Cyclically Adjusted Revenue per Share
	=	25.10	/	5.85
	=	4.29

Wharf Real Estate Investment Co's Cyclically Adjusted Revenue per Share for the fiscal year that ended in Dec23 is calculated as:

For example, Wharf Real Estate Investment Co's adjusted Revenue per Share data for the fiscal year that ended in Dec23 was:

Adj_RevenuePerShare	=	Revenue per Share	/	CPI of Dec23 (Change)	*	Current CPI (Dec23)
	=	4.383	/	117.2957	*	117.2957
	=	4.383

Current CPI (Dec23) = 117.2957.

Wharf Real Estate Investment Co Annual Data

	Revenue per Share	CPI	Adj_RevenuePerShare
201412	5.743	99.707	6.756
201512	5.789	102.015	6.656
201612	5.550	103.225	6.307
201712	6.885	104.984	7.692
201812	5.429	107.622	5.917
201912	5.284	110.700	5.599
202012	5.110	109.711	5.463
202112	5.284	112.349	5.517
202212	4.104	114.548	4.202
202312	4.383	117.296	4.383

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue 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.

Wharf Real Estate Investment Co (HKSE:01997) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue 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 PS Ratio should give similar results to regular PS Ratio.

Wharf Real Estate Investment Co Cyclically Adjusted PS Ratio Related Terms

Thank you for viewing the detailed overview of Wharf Real Estate Investment Co's Cyclically Adjusted PS Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.

Wharf Real Estate Investment Co (HKSE:01997) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Wharf Real Estate Investment Co Ltd (HKSE:01997) » Definitions » Cyclically Adjusted PS Ratio

Comparable Companies

Traded in Other Exchanges

WRFRF:USA 4WF:Germany

Address

https://www.wharfreic.com/en/investor/reports, 16th Floor, Ocean Centre, Harbour City, Kowloon, Hong Kong, HKG

Website

https://www.wharfreic.com

Wharf spun off Wharf Real Estate Investment Co in November 2017. It is a leading property investor with a focus in prime retail assets in Hong Kong. Rental income from two flagship assets Harbour City and Times Square account for around 80% of revenue. The balance is made up of The Murray hotel, a suburban mall in Plaza Hollywood, two offices in Central CBD. The group also holds two malls in Singapore and a mixed-development in Suzhou. Wharf was originally a shipping company but transformed into a property developer and investor in the 1960s by redeveloping its unused industrial assets, many located in city-center and waterfront locations. The Harbour City site was previously wharfs, and the Times Square site was a tram depot in the 1970s. Wheelock holds a 45% stake in WREIC.

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