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Fresenius Medical Care AG (Fresenius Medical Care AG) Cyclically Adjusted Book per Share : $23.16 (As of Dec. 2023)


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What is Fresenius Medical Care AG 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.

Fresenius Medical Care AG's adjusted book value per share for the three months ended in Dec. 2023 was $25.311. 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 $23.16 for the trailing ten years ended in Dec. 2023.

During the past 12 months, Fresenius Medical Care AG's average Cyclically Adjusted Book Growth Rate was 8.50% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 11.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 10.30% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 9.60% 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 Fresenius Medical Care AG was 11.50% per year. The lowest was 2.30% per year. And the median was 8.00% per year.

As of today (2024-04-28), Fresenius Medical Care AG's current stock price is $20.10. Fresenius Medical Care AG's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $23.16. Fresenius Medical Care AG's Cyclically Adjusted PB Ratio of today is 0.87.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of Fresenius Medical Care AG was 4.42. The lowest was 0.69. And the median was 2.75.


Fresenius Medical Care AG Cyclically Adjusted Book per Share Historical Data

The historical data trend for Fresenius Medical Care AG'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.

Fresenius Medical Care AG Cyclically Adjusted Book per Share Chart

Fresenius Medical Care AG 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 15.96 18.55 19.25 20.80 23.16

Fresenius Medical Care AG Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 20.80 21.95 22.45 22.11 23.16

Competitive Comparison of Fresenius Medical Care AG's Cyclically Adjusted Book per Share

For the Medical Care Facilities subindustry, Fresenius Medical Care AG'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.


Fresenius Medical Care AG's Cyclically Adjusted PB Ratio Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Fresenius Medical Care AG's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Fresenius Medical Care AG's Cyclically Adjusted PB Ratio falls into.



Fresenius Medical Care AG 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, Fresenius Medical Care AG'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)
=25.311/123.6675*123.6675
=25.311

Current CPI (Dec. 2023) = 123.6675.

Fresenius Medical Care AG Quarterly Data

Book Value per Share CPI Adj_Book
201403 15.714 99.543 19.522
201406 15.453 99.543 19.198
201409 15.891 99.823 19.687
201412 15.883 99.543 19.732
201503 15.704 99.717 19.476
201506 15.723 100.417 19.364
201509 15.753 100.417 19.400
201512 16.133 99.717 20.008
201603 16.394 100.017 20.271
201606 16.816 100.717 20.648
201609 17.305 101.017 21.185
201612 17.185 101.217 20.997
201703 17.812 101.417 21.720
201706 17.683 102.117 21.415
201709 18.773 102.717 22.602
201712 18.961 102.617 22.851
201803 19.981 102.917 24.010
201806 20.790 104.017 24.717
201809 21.327 104.718 25.186
201812 21.795 104.217 25.863
201903 22.302 104.217 26.464
201906 21.656 105.718 25.333
201909 22.508 106.018 26.255
201912 22.268 105.818 26.024
202003 22.594 105.718 26.430
202006 23.317 106.618 27.046
202009 23.114 105.818 27.013
202012 23.292 105.518 27.298
202103 24.384 107.518 28.047
202106 23.917 108.486 27.264
202109 24.553 109.435 27.746
202112 24.486 110.384 27.433
202203 24.870 113.968 26.987
202206 25.308 115.760 27.037
202209 25.395 118.818 26.432
202212 25.253 119.345 26.168
202303 25.229 122.402 25.490
202306 24.976 123.140 25.083
202309 25.473 124.195 25.365
202312 25.311 123.668 25.311

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


Fresenius Medical Care AG  (NYSE:FMS) 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.

Fresenius Medical Care AG's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=20.10/23.16
=0.87

* 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 Fresenius Medical Care AG was 4.42. The lowest was 0.69. And the median was 2.75.


Be Aware

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


Fresenius Medical Care AG Cyclically Adjusted Book per Share Related Terms

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


Fresenius Medical Care AG (Fresenius Medical Care AG) Business Description

Address
Else-Kroener-Strasse 1, Bad Homburg, HE, DEU, 61352
Fresenius Medical Care is the largest dialysis company in the world, treating about 345,000 patients from over 4,100 clinics across the globe as of December 2022. In addition to providing dialysis services, the firm is a leading supplier of dialysis products, including machines, dialyzers, and concentrates. Fresenius accounts for about 35% of the global dialysis products market and benefits from being the world's only fully integrated dialysis business. Services account for roughly 80% of firmwide revenue, including care coordination and ancillary operations, while products account for the other roughly 20%. Products typically enjoy a higher margin, making them a strong contributor to the bottom line.
Executives
Helen Pring Giza Board of Directors