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CF Industries Holdings (STU:C4F) Cyclically Adjusted FCF per Share : €4.30 (As of Mar. 2024)


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What is CF Industries Holdings 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.

CF Industries Holdings's adjusted free cash flow per share for the three months ended in Mar. 2024 was €1.687. 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 €4.30 for the trailing ten years ended in Mar. 2024.

During the past 12 months, CF Industries Holdings's average Cyclically Adjusted FCF Growth Rate was 21.10% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 34.10% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 26.40% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 6.90% 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 CF Industries Holdings was 34.10% per year. The lowest was -31.90% per year. And the median was 18.90% per year.

As of today (2024-06-03), CF Industries Holdings's current stock price is €70.44. CF Industries Holdings's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €4.30. CF Industries Holdings's Cyclically Adjusted Price-to-FCF of today is 16.38.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of CF Industries Holdings was 44.99. The lowest was 12.57. And the median was 25.00.


CF Industries Holdings Cyclically Adjusted FCF per Share Historical Data

The historical data trend for CF Industries Holdings'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.

CF Industries Holdings Cyclically Adjusted FCF per Share Chart

CF Industries Holdings 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 1.57 1.47 2.31 3.37 4.16

CF Industries Holdings 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 3.57 4.10 4.17 4.16 4.30

Competitive Comparison of CF Industries Holdings's Cyclically Adjusted FCF per Share

For the Agricultural Inputs subindustry, CF Industries Holdings'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.


CF Industries Holdings's Cyclically Adjusted Price-to-FCF Distribution in the Agriculture Industry

For the Agriculture industry and Basic Materials sector, CF Industries Holdings's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where CF Industries Holdings's Cyclically Adjusted Price-to-FCF falls into.



CF Industries Holdings 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, CF Industries Holdings'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)
=1.687/131.7762*131.7762
=1.687

Current CPI (Mar. 2024) = 131.7762.

CF Industries Holdings Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 -1.401 100.560 -1.836
201409 0.106 100.428 0.139
201412 -0.959 99.070 -1.276
201503 0.330 99.621 0.437
201506 -2.336 100.684 -3.057
201509 -0.701 100.392 -0.920
201512 -2.141 99.792 -2.827
201603 -1.269 100.470 -1.664
201606 -2.298 101.688 -2.978
201609 -1.128 101.861 -1.459
201612 -1.490 101.863 -1.928
201703 1.051 102.862 1.346
201706 2.818 103.349 3.593
201709 0.392 104.136 0.496
201712 0.168 104.011 0.213
201803 0.739 105.290 0.925
201806 0.871 106.317 1.080
201809 1.866 106.507 2.309
201812 0.419 105.998 0.521
201903 0.891 107.251 1.095
201906 1.246 108.070 1.519
201909 1.510 108.329 1.837
201912 0.802 108.420 0.975
202003 0.940 108.902 1.137
202006 1.548 108.767 1.875
202009 0.540 109.815 0.648
202012 0.715 109.897 0.857
202103 1.972 111.754 2.325
202106 0.069 114.631 0.079
202109 1.883 115.734 2.144
202112 5.533 117.630 6.198
202203 5.706 121.301 6.199
202206 3.727 125.017 3.929
202209 4.022 125.227 4.232
202212 2.158 125.222 2.271
202303 4.165 127.348 4.310
202306 2.920 128.729 2.989
202309 2.288 129.860 2.322
202312 1.396 129.419 1.421
202403 1.687 131.776 1.687

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


CF Industries Holdings  (STU:C4F) 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.

CF Industries Holdings's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=70.44/4.3
=16.38

* 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 CF Industries Holdings was 44.99. The lowest was 12.57. And the median was 25.00.


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.


CF Industries Holdings Cyclically Adjusted FCF per Share Related Terms

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


CF Industries Holdings (STU:C4F) Business Description

Traded in Other Exchanges
Address
4 Parkway North, Suite 400, Deerfield, IL, USA, 60015
CF Industries is a leading producer and distributor of nitrogen, which is primarily used in fertilizers. The company operates nitrogen manufacturing plants primarily in North America. CF also produces nitrogen in the United Kingdom and holds a joint venture interest in a nitrogen production facility in Trinidad and Tobago. CF makes nitrogen primarily using low-cost U.S. natural gas as its feedstock, making CF one of the lowest-cost nitrogen producers globally. The company is also investing in carbon-free blue and green ammonia, which can be used an alternative fuel to hydrogen or as a means to transport hydrogen.

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