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JD.com (BUE:JD) Cyclically Adjusted FCF per Share : ARS269.11 (As of Mar. 2024)


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What is JD.com 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.

JD.com's adjusted free cash flow per share for the three months ended in Mar. 2024 was ARS-547.807. 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 ARS269.11 for the trailing ten years ended in Mar. 2024.

During the past 12 months, JD.com's average Cyclically Adjusted FCF Growth Rate was 78.60% 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 FCF Growth Rate using Cyclically Adjusted FCF per Share data.

As of today (2024-05-26), JD.com's current stock price is ARS9347.00. JD.com's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was ARS269.11. JD.com's Cyclically Adjusted Price-to-FCF of today is 34.73.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of JD.com was 91.60. The lowest was 19.27. And the median was 49.85.


JD.com Cyclically Adjusted FCF per Share Historical Data

The historical data trend for JD.com'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.

JD.com Cyclically Adjusted FCF per Share Chart

JD.com 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 - - - 134.72 549.51

JD.com 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 113.74 243.69 427.87 549.51 269.11

Competitive Comparison of JD.com's Cyclically Adjusted FCF per Share

For the Internet Retail subindustry, JD.com'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.


JD.com's Cyclically Adjusted Price-to-FCF Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, JD.com's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



JD.com 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, JD.com'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)
=-547.807/115.2271*115.2271
=-547.807

Current CPI (Mar. 2024) = 115.2271.

JD.com Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 -0.189 98.200 -0.222
201409 0.141 98.900 0.164
201412 -0.885 99.000 -1.030
201503 0.300 99.900 0.346
201506 0.112 99.500 0.130
201509 -0.740 100.500 -0.848
201512 -0.792 100.600 -0.907
201603 0.791 102.200 0.892
201606 0.441 101.400 0.501
201609 2.197 102.400 2.472
201612 -1.940 102.600 -2.179
201703 1.474 103.200 1.646
201706 7.382 103.100 8.250
201709 -3.121 104.100 -3.455
201712 0.593 104.500 0.654
201803 -4.090 105.300 -4.476
201806 7.846 104.900 8.618
201809 -5.821 106.600 -6.292
201812 1.696 106.500 1.835
201903 2.319 107.700 2.481
201906 20.438 107.700 21.866
201909 0.798 109.800 0.837
201912 -18.779 111.200 -19.459
202003 -5.233 112.300 -5.369
202006 37.751 110.400 39.402
202009 17.599 111.700 18.155
202012 -1.678 111.500 -1.734
202103 -47.302 112.662 -48.379
202106 121.238 111.769 124.989
202109 35.550 112.215 36.504
202112 -13.870 113.108 -14.130
202203 -38.360 114.335 -38.659
202206 159.620 114.558 160.553
202209 23.927 115.339 23.904
202212 75.050 115.116 75.123
202303 -245.903 115.116 -246.141
202306 492.332 114.558 495.208
202309 151.435 115.339 151.288
202312 182.216 114.781 182.924
202403 -547.807 115.227 -547.807

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


JD.com  (BUE:JD) 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.

JD.com's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=9347.00/269.11
=34.73

* 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 JD.com was 91.60. The lowest was 19.27. And the median was 49.85.


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.


JD.com Cyclically Adjusted FCF per Share Related Terms

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


JD.com (BUE:JD) Business Description

Industry
Address
No. 18 Kechuang 11 Street, 20th Floor, Building A, Yizhuang Economic and Technological Development Zo, Daxing District, Beijing, CHN, 101111
JD.com is a leading e-commerce platform with its 2022 China GMV being similar to Pinduoduo (GMV not reported), on our estimate, but still lower than Alibaba. it offers a wide selection of authentic products with speedy and reliable delivery. The company has built its own nationwide fulfilment infrastructure and last-mile delivery network, staffed by its own employees, which supports both its online direct sales, its online marketplace and omnichannel businesses.