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Kinder Morgan (BSP:KMIC34) Cyclically Adjusted FCF per Share : R$6.81 (As of Mar. 2024)


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What is Kinder Morgan Cyclically Adjusted FCF 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 FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Kinder Morgan's adjusted free cash flow per share for the three months ended in Mar. 2024 was R$1.279. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is R$6.81 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Kinder Morgan's average Cyclically Adjusted FCF Growth Rate was 8.90% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 11.50% 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 FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Kinder Morgan was 11.50% per year. The lowest was -4.30% per year. And the median was 3.60% per year.

As of today (2024-06-06), Kinder Morgan's current stock price is R$101.90. Kinder Morgan's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was R$6.81. Kinder Morgan's Cyclically Adjusted Price-to-FCF of today is 14.96.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Kinder Morgan was 18.58. The lowest was 9.01. And the median was 13.96.


Kinder Morgan Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Kinder Morgan's Cyclically Adjusted FCF 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.

Kinder Morgan Cyclically Adjusted FCF per Share Chart

Kinder Morgan Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.40 4.95 6.08 6.33 6.44

Kinder Morgan Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted FCF 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 6.24 6.14 6.35 6.44 6.81

Competitive Comparison of Kinder Morgan's Cyclically Adjusted FCF per Share

For the Oil & Gas Midstream subindustry, Kinder Morgan's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF 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.


Kinder Morgan's Cyclically Adjusted Price-to-FCF Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Kinder Morgan's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Kinder Morgan's Cyclically Adjusted Price-to-FCF falls into.



Kinder Morgan Cyclically Adjusted FCF 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 FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow 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 FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF 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, Kinder Morgan's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2024 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=1.279/131.7762*131.7762
=1.279

Current CPI (Mar. 2024) = 131.7762.

Kinder Morgan Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.463 100.560 0.607
201409 0.746 100.428 0.979
201412 0.065 99.070 0.086
201503 0.524 99.621 0.693
201506 0.384 100.684 0.503
201509 -0.214 100.392 -0.281
201512 1.583 99.792 2.090
201603 0.387 100.470 0.508
201606 0.986 101.688 1.278
201609 0.757 101.861 0.979
201612 0.724 101.863 0.937
201703 0.311 102.862 0.398
201706 0.898 103.349 1.145
201709 0.345 104.136 0.437
201712 0.498 104.011 0.631
201803 0.397 105.290 0.497
201806 1.246 106.317 1.544
201809 0.324 106.507 0.401
201812 1.675 105.998 2.082
201903 0.138 107.251 0.170
201906 1.430 108.070 1.744
201909 0.877 108.329 1.067
201912 1.948 108.420 2.368
202003 0.978 108.902 1.183
202006 1.873 108.767 2.269
202009 1.580 109.815 1.896
202012 2.073 109.897 2.486
202103 3.997 111.754 4.713
202106 2.575 114.631 2.960
202109 1.816 115.734 2.068
202112 2.196 117.630 2.460
202203 1.486 121.301 1.614
202206 2.656 125.017 2.800
202209 1.280 125.227 1.347
202212 2.165 125.222 2.278
202303 1.915 127.348 1.982
202306 2.202 128.729 2.254
202309 1.415 129.860 1.436
202312 3.674 129.419 3.741
202403 1.279 131.776 1.279

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Kinder Morgan  (BSP:KMIC34) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF 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 Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Kinder Morgan's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=101.90/6.81
=14.96

* 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 Price-to-FCF of Kinder Morgan was 18.58. The lowest was 9.01. And the median was 13.96.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Kinder Morgan Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of Kinder Morgan's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


Kinder Morgan (BSP:KMIC34) Business Description

Industry
Traded in Other Exchanges
Address
1001 Louisiana Street, Suite 1000, Houston, TX, USA, 77002
Kinder Morgan is one of the largest midstream energy firms in North America, with an interest in or an operator on about 83,000 miles in pipelines and 140 storage terminals. The company is active in the transportation, storage, and processing of natural gas, crude oil, refined products, natural gas liquids, and carbon dioxide. The majority of Kinder Morgan's cash flows stem from fee-based contracts for handling, moving, and storing fossil fuel products.

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