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Japan Tobacco (TSE:2914) Cyclically Adjusted Price-to-FCF : 19.98 (As of Jun. 04, 2024)


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What is Japan Tobacco Cyclically Adjusted Price-to-FCF?

As of today (2024-06-04), Japan Tobacco's current share price is 円4533.00. Japan Tobacco's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was 円226.84. Japan Tobacco's Cyclically Adjusted Price-to-FCF for today is 19.98.

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

TSE:2914' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 9.54   Med: 14   Max: 28.89
Current: 19.63

During the past years, Japan Tobacco's highest Cyclically Adjusted Price-to-FCF was 28.89. The lowest was 9.54. And the median was 14.00.

TSE:2914's Cyclically Adjusted Price-to-FCF is ranked worse than
88% of 25 companies
in the Tobacco Products industry
Industry Median: 10.28 vs TSE:2914: 19.63

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.

Japan Tobacco's adjusted free cash flow per share data for the three months ended in Mar. 2024 was 円18.573. 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 円226.84 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Japan Tobacco Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Japan Tobacco'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.

Japan Tobacco Cyclically Adjusted Price-to-FCF Chart

Japan Tobacco Annual Data
Trend Mar14 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 13.07 10.83 11.57 12.48 16.11

Japan Tobacco 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 13.29 14.25 14.43 16.11 17.87

Competitive Comparison of Japan Tobacco's Cyclically Adjusted Price-to-FCF

For the Tobacco subindustry, Japan Tobacco'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.


Japan Tobacco's Cyclically Adjusted Price-to-FCF Distribution in the Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Japan Tobacco's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Japan Tobacco 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=4533.00/226.84
=19.98

* 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.

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

For example, Japan Tobacco'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)
=18.573/107.2000*107.2000
=18.573

Current CPI (Mar. 2024) = 107.2000.

Japan Tobacco Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 -32.543 98.000 -35.598
201409 111.087 98.500 120.899
201412 157.514 97.900 172.477
201503 -95.753 97.900 -104.849
201506 84.556 98.400 92.118
201509 72.317 98.500 78.704
201512 129.247 98.100 141.236
201603 -110.113 97.900 -120.573
201606 22.453 98.100 24.536
201609 89.364 98.000 97.753
201612 146.482 98.400 159.582
201703 -56.007 98.100 -61.202
201706 45.762 98.500 49.804
201709 143.226 98.800 155.403
201712 22.747 99.400 24.532
201803 26.925 99.200 29.096
201806 62.193 99.200 67.209
201809 89.968 99.900 96.542
201812 -10.249 99.700 -11.020
201903 50.152 99.700 53.925
201906 40.594 99.800 43.604
201909 2.525 100.100 2.704
201912 135.746 100.500 144.796
202003 -17.599 100.300 -18.810
202006 61.167 99.900 65.637
202009 138.243 99.900 148.345
202012 49.858 99.300 53.825
202103 -5.500 99.900 -5.902
202106 77.601 99.500 83.606
202109 128.674 100.100 137.801
202112 78.621 100.100 84.198
202203 10.906 101.100 11.564
202206 28.275 101.800 29.775
202209 117.908 103.100 122.597
202212 59.415 104.100 61.184
202303 15.002 104.400 15.404
202306 72.821 105.200 74.205
202309 144.008 106.200 145.364
202312 19.242 106.800 19.314
202403 18.573 107.200 18.573

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.


Japan Tobacco  (TSE:2914) 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.


Japan Tobacco Cyclically Adjusted Price-to-FCF Related Terms

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Japan Tobacco (TSE:2914) Business Description

Traded in Other Exchanges
Address
2-1, Toranomon 2-chome, Minato-ku, Tokyo, JPN, 105-8422
Japan Tobacco is the third-largest tobacco company globally. It owns a rich brand portfolio including Winston (non-U.S.), Camel (non-U.S.), and Mevius, and holds leading shares in many core markets including Japan, Russia, and the U.K. It has added Logic as a vaping brand and Ploom heated tobacco lines into its reduced-risk-product portfolio. The tobacco business contributes 90% of group sales and nearly all profits, with more than half generated by the overseas tobacco operations. JTI was created through the acquisition of R.J. Reynolds' non-U.S. operations in 1999 and further expanded through multiple acquisitions, of which the purchase of Gallaher in 2007 was the most notable, doubling JTI's sales. Pharmaceutical and processed food operations are the other businesses.

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