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Chevron (BSP:CHVX34) Cyclically Adjusted Price-to-FCF : 28.58 (As of May. 22, 2024)


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What is Chevron Cyclically Adjusted Price-to-FCF?

As of today (2024-05-22), Chevron's current share price is R$81.75. Chevron's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was R$2.86. Chevron's Cyclically Adjusted Price-to-FCF for today is 28.58.

The historical rank and industry rank for Chevron's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

BSP:CHVX34' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 22.41   Med: 44.35   Max: 89.54
Current: 28.15

During the past years, Chevron's highest Cyclically Adjusted Price-to-FCF was 89.54. The lowest was 22.41. And the median was 44.35.

BSP:CHVX34's Cyclically Adjusted Price-to-FCF is ranked worse than
75.7% of 395 companies
in the Oil & Gas industry
Industry Median: 14 vs BSP:CHVX34: 28.15

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.

Chevron's adjusted free cash flow per share data for the three months ended in Mar. 2024 was R$0.738. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is R$2.86 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Chevron Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Chevron's Cyclically Adjusted Price-to-FCF 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.

Chevron Cyclically Adjusted Price-to-FCF Chart

Chevron Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 45.44 40.66 48.07 44.52 27.49

Chevron Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Price-to-FCF 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 36.39 33.68 34.20 27.49 27.76

Competitive Comparison of Chevron's Cyclically Adjusted Price-to-FCF

For the Oil & Gas Integrated subindustry, Chevron'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.


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

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

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



Chevron Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Chevron's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=81.75/2.86
=28.58

* 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.

Chevron's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Chevron'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)
=0.738/131.7762*131.7762
=0.738

Current CPI (Mar. 2024) = 131.7762.

Chevron Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 -0.123 100.560 -0.161
201409 0.051 100.428 0.067
201412 -0.448 99.070 -0.596
201503 -0.884 99.621 -1.169
201506 -0.070 100.684 -0.092
201509 -0.302 100.392 -0.396
201512 -0.599 99.792 -0.791
201603 -0.875 100.470 -1.148
201606 -0.354 101.688 -0.459
201609 0.215 101.861 0.278
201612 -0.054 101.863 -0.070
201703 0.076 102.862 0.097
201706 0.304 103.349 0.388
201709 0.376 104.136 0.476
201712 0.424 104.011 0.537
201803 0.351 105.290 0.439
201806 0.713 106.317 0.884
201809 1.284 106.507 1.589
201812 1.051 105.998 1.307
201903 0.425 107.251 0.522
201906 1.053 108.070 1.284
201909 0.967 108.329 1.176
201912 0.316 108.420 0.384
202003 0.416 108.902 0.503
202006 -0.563 108.767 -0.682
202009 0.556 109.815 0.667
202012 0.042 109.897 0.050
202103 0.721 111.754 0.850
202106 1.349 114.631 1.551
202109 1.833 115.734 2.087
202112 2.017 117.630 2.260
202203 1.560 121.301 1.695
202206 2.733 125.017 2.881
202209 3.317 125.227 3.490
202212 2.369 125.222 2.493
202303 1.142 127.348 1.182
202306 0.657 128.729 0.673
202309 1.316 129.860 1.335
202312 2.119 129.419 2.158
202403 0.738 131.776 0.738

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


Chevron  (BSP:CHVX34) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Chevron Cyclically Adjusted Price-to-FCF Related Terms

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


Chevron (BSP:CHVX34) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Chevron Corp (BSP:CHVX34) » Definitions » Cyclically Adjusted Price-to-FCF
Address
6001 Bollinger Canyon Road, San Ramon, CA, USA, 94583-2324
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.0 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.7 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the U.S. and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2022 stood at 11.2 billion barrels of oil equivalent, including 6.1 billion barrels of liquids and 30.9 trillion cubic feet of natural gas.

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