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China Southern Airlines Co (HKSE:01055) Cyclically Adjusted Price-to-FCF : 9.56 (As of Jun. 10, 2024)


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What is China Southern Airlines Co Cyclically Adjusted Price-to-FCF?

As of today (2024-06-10), China Southern Airlines Co's current share price is HK$3.25. China Southern Airlines Co's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was HK$0.34. China Southern Airlines Co's Cyclically Adjusted Price-to-FCF for today is 9.56.

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

HKSE:01055' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 8.04   Med: 15.35   Max: 175.57
Current: 8.58

During the past years, China Southern Airlines Co's highest Cyclically Adjusted Price-to-FCF was 175.57. The lowest was 8.04. And the median was 15.35.

HKSE:01055's Cyclically Adjusted Price-to-FCF is ranked better than
74.59% of 429 companies
in the Transportation industry
Industry Median: 17.79 vs HKSE:01055: 8.58

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.

China Southern Airlines Co's adjusted free cash flow per share data for the three months ended in Mar. 2024 was HK$0.358. 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 HK$0.34 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


China Southern Airlines Co Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for China Southern Airlines Co'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.

China Southern Airlines Co Cyclically Adjusted Price-to-FCF Chart

China Southern Airlines Co 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 16.46 13.85 13.76 15.64 9.20

China Southern Airlines Co 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 15.26 10.11 9.97 9.20 8.17

Competitive Comparison of China Southern Airlines Co's Cyclically Adjusted Price-to-FCF

For the Airlines subindustry, China Southern Airlines Co'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.


China Southern Airlines Co's Cyclically Adjusted Price-to-FCF Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, China Southern Airlines Co's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where China Southern Airlines Co's Cyclically Adjusted Price-to-FCF falls into.



China Southern Airlines Co 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.

China Southern Airlines Co's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=3.25/0.34
=9.56

* 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.

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

For example, China Southern Airlines Co'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)
=0.358/115.2271*115.2271
=0.358

Current CPI (Mar. 2024) = 115.2271.

China Southern Airlines Co Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 -0.066 98.200 -0.077
201409 1.013 98.900 1.180
201412 0.181 99.000 0.211
201503 0.181 99.900 0.209
201506 0.687 99.500 0.796
201509 0.892 100.500 1.023
201512 -0.021 100.600 -0.024
201603 0.188 102.200 0.212
201606 0.553 101.400 0.628
201609 0.688 102.400 0.774
201612 -0.478 102.600 -0.537
201703 0.123 103.200 0.137
201706 0.276 103.100 0.308
201709 0.470 104.100 0.520
201712 0.004 104.500 0.004
201803 0.202 105.300 0.221
201806 -0.205 104.900 -0.225
201809 0.307 106.600 0.332
201812 -0.730 106.500 -0.790
201903 -0.007 107.700 -0.007
201906 0.256 107.700 0.274
201909 0.996 109.800 1.045
201912 1.004 111.200 1.040
202003 -0.861 112.300 -0.883
202006 0.173 110.400 0.181
202009 0.594 111.700 0.613
202012 -0.152 111.500 -0.157
202103 -0.336 112.662 -0.344
202106 0.380 111.769 0.392
202109 -0.089 112.215 -0.091
202112 -0.238 113.108 -0.242
202203 -0.254 114.335 -0.256
202206 0.183 114.558 0.184
202209 0.054 115.339 0.054
202212 -0.529 115.116 -0.530
202303 0.376 115.116 0.376
202306 0.496 114.558 0.499
202309 0.590 115.339 0.589
202312 0.017 114.781 0.017
202403 0.358 115.227 0.358

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.


China Southern Airlines Co  (HKSE:01055) 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.


China Southern Airlines Co Cyclically Adjusted Price-to-FCF Related Terms

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China Southern Airlines Co (HKSE:01055) Business Description

Traded in Other Exchanges
Address
68 Qixin Road, China Southern Air Building, Baiyun District, Guangdong Province, Guangzhou, CHN, 510403
China Southern Airlines is based in Guangzhou and is one of the three largest state-owned airlines in China. The group operated a fleet of 894 aircraft as of 2022 and carried more than 150 million passengers in prepandemic 2019, ranking first in Asia. It runs a spoke-and-hub model under which it gathers and distributes passengers from air hubs like Guangzhou and Beijing. The group's route network extends to over 243 destinations and 44 countries and regions.
Executives
China Southern Air Holding Company Limited 2201 Interest of corporation controlled by you
Nan Lung Holding Limited 2101 Beneficial owner
American Airlines Group Inc. 2201 Interest of corporation controlled by you
Qatar Airways Group Q.c.s.c. 2101 Beneficial owner

China Southern Airlines Co (HKSE:01055) Headlines

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