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Wharf Real Estate Investment Co (HKSE:01997) Cyclically Adjusted Price-to-FCF : 8.08 (As of May. 09, 2024)


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What is Wharf Real Estate Investment Co Cyclically Adjusted Price-to-FCF?

As of today (2024-05-09), Wharf Real Estate Investment Co's current share price is HK$24.80. Wharf Real Estate Investment Co's Cyclically Adjusted FCF per Share for the fiscal year that ended in Dec23 was HK$3.07. Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF for today is 8.08.

The historical rank and industry rank for Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

HKSE:01997' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 7.3   Med: 8.08   Max: 8.99
Current: 8.12

During the past 10 years, Wharf Real Estate Investment Co's highest Cyclically Adjusted Price-to-FCF was 8.99. The lowest was 7.30. And the median was 8.08.

HKSE:01997's Cyclically Adjusted Price-to-FCF is ranked better than
64.29% of 686 companies
in the Real Estate industry
Industry Median: 12.515 vs HKSE:01997: 8.12

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.

Wharf Real Estate Investment Co's adjusted free cash flow per share data of for the fiscal year that ended in Dec23 was HK$1.915. 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$3.07 for the trailing ten years ended in Dec23.

Shiller PE for Stocks: The True Measure of Stock Valuation


Wharf Real Estate Investment Co Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Wharf Real Estate Investment 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.

Wharf Real Estate Investment Co Cyclically Adjusted Price-to-FCF Chart

Wharf Real Estate Investment 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 - - - - 8.59

Wharf Real Estate Investment Co Semi-Annual Data
Dec14 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
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 - - - - 8.59

Competitive Comparison of Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF

For the Real Estate Services subindustry, Wharf Real Estate Investment 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.


Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF falls into.



Wharf Real Estate Investment 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.

Wharf Real Estate Investment Co's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=24.80/3.07
=8.08

* 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.

Wharf Real Estate Investment Co's Cyclically Adjusted FCF per Share for the fiscal year that ended in Dec23 is calculated as:

For example, Wharf Real Estate Investment Co's adjusted Free Cash Flow per Share data for the fiscal year that ended in Dec23 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Dec23 (Change)*Current CPI (Dec23)
=1.915/117.2957*117.2957
=1.915

Current CPI (Dec23) = 117.2957.

Wharf Real Estate Investment Co Annual Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201412 3.160 99.707 3.717
201512 3.622 102.015 4.165
201612 3.410 103.225 3.875
201712 2.635 104.984 2.944
201812 3.114 107.622 3.394
201912 3.939 110.700 4.174
202012 1.532 109.711 1.638
202112 2.560 112.349 2.673
202212 2.191 114.548 2.244
202312 1.915 117.296 1.915

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.


Wharf Real Estate Investment Co  (HKSE:01997) 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.


Wharf Real Estate Investment Co Cyclically Adjusted Price-to-FCF Related Terms

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Wharf Real Estate Investment Co (HKSE:01997) Business Description

Traded in Other Exchanges
Address
https://www.wharfreic.com/en/investor/reports, 16th Floor, Ocean Centre, Harbour City, Kowloon, Hong Kong, HKG
Wharf spun off Wharf Real Estate Investment Co in November 2017. It is a leading property investor with a focus in prime retail assets in Hong Kong. Rental income from two flagship assets Harbour City and Times Square account for around 80% of revenue. The balance is made up of The Murray hotel, a suburban mall in Plaza Hollywood, two offices in Central CBD. The group also holds two malls in Singapore and a mixed-development in Suzhou. Wharf was originally a shipping company but transformed into a property developer and investor in the 1960s by redeveloping its unused industrial assets, many located in city-center and waterfront locations. The Harbour City site was previously wharfs, and the Times Square site was a tram depot in the 1970s. Wheelock holds a 45% stake in WREIC.

Wharf Real Estate Investment Co (HKSE:01997) Headlines

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