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Robert Half (LTS:0KX9) Cyclically Adjusted FCF per Share : $6.09 (As of Mar. 2024)


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What is Robert Half 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.

Robert Half's adjusted free cash flow per share for the three months ended in Mar. 2024 was $-0.265. 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 $6.09 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Robert Half's average Cyclically Adjusted FCF Growth Rate was 8.30% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 14.90% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 15.10% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 11.00% 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 Robert Half was 31.00% per year. The lowest was 3.20% per year. And the median was 13.80% per year.

As of today (2024-05-23), Robert Half's current stock price is $66.464. Robert Half's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was $6.09. Robert Half's Cyclically Adjusted Price-to-FCF of today is 10.91.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Robert Half was 34.59. The lowest was 13.06. And the median was 23.45.


Robert Half Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Robert Half'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.

Robert Half Cyclically Adjusted FCF per Share Chart

Robert Half 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 2.64 3.11 3.36 5.89 5.48

Robert Half 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 5.53 6.23 6.56 5.48 6.09

Competitive Comparison of Robert Half's Cyclically Adjusted FCF per Share

For the Staffing & Employment Services subindustry, Robert Half'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.


Robert Half's Cyclically Adjusted Price-to-FCF Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, Robert Half's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Robert Half 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, Robert Half'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)
=-0.265/131.7762*131.7762
=-0.265

Current CPI (Mar. 2024) = 131.7762.

Robert Half Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.695 100.560 0.911
201409 0.595 100.428 0.781
201412 0.417 99.070 0.555
201503 0.530 99.621 0.701
201506 0.941 100.684 1.232
201509 0.567 100.392 0.744
201512 0.694 99.792 0.916
201603 0.459 100.470 0.602
201606 0.802 101.688 1.039
201609 1.043 101.861 1.349
201612 0.486 101.863 0.629
201703 0.895 102.862 1.147
201706 0.989 103.349 1.261
201709 0.991 104.136 1.254
201712 0.422 104.011 0.535
201803 0.881 105.290 1.103
201806 1.132 106.317 1.403
201809 1.444 106.507 1.787
201812 0.899 105.998 1.118
201903 0.970 107.251 1.192
201906 0.896 108.070 1.093
201909 1.507 108.329 1.833
201912 0.577 108.420 0.701
202003 0.972 108.902 1.176
202006 2.590 108.767 3.138
202009 1.165 109.815 1.398
202012 0.243 109.897 0.291
202103 0.518 111.754 0.611
202106 1.421 114.631 1.634
202109 1.938 115.734 2.207
202112 1.199 117.630 1.343
202203 0.490 121.301 0.532
202206 1.938 125.017 2.043
202209 1.529 125.227 1.609
202212 1.761 125.222 1.853
202303 0.524 127.348 0.542
202306 2.550 128.729 2.610
202309 1.518 129.860 1.540
202312 0.981 129.419 0.999
202403 -0.265 131.776 -0.265

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


Robert Half  (LTS:0KX9) 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.

Robert Half's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=66.464/6.09
=10.91

* 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 Robert Half was 34.59. The lowest was 13.06. And the median was 23.45.


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.


Robert Half Cyclically Adjusted FCF per Share Related Terms

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


Robert Half (LTS:0KX9) Business Description

Industry
Traded in Other Exchanges
Address
2884 Sand Hill Road, Suite 200, Menlo Park, CA, USA, 94025
Founded in 1948, Robert Half provides temporary, permanent, and outcome-based staffing for both in-person and remote positions in the finance and accounting, technology, legal, marketing, and administrative fields. Its subsidiary consulting arm, Protiviti, specializes in technology, risk, auditing, and compliance matters. The firm generates most of its sales inside the U.S. and stands as one of the largest specialized firms in the highly fragmented U.S. staffing industry. The firm generates annual revenue of around $7 billion.

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