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cpk which question are you talking about?

underlying means adjusting for extraordinary or unusual items.

normalzied means adjusting (i.e. smoothign) for the busienss cycle

there are two ways to normalize:

(EPS1 + EPS2 + EPS3 + EPS4)/4

OR

(ROE1 + ROE 2 + ROE3 + ROE4) x BV4

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