GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Tobacco Products » Philip Morris International Inc (STU:4I1) » Definitions » Cyclically Adjusted Price-to-FCF

Philip Morris International (STU:4I1) Cyclically Adjusted Price-to-FCF : 15.51 (As of May. 19, 2024)


View and export this data going back to 2008. Start your Free Trial

What is Philip Morris International Cyclically Adjusted Price-to-FCF?

As of today (2024-05-19), Philip Morris International's current share price is €91.84. Philip Morris International's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €5.92. Philip Morris International's Cyclically Adjusted Price-to-FCF for today is 15.51.

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

STU:4I1' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 11.38   Med: 16.48   Max: 26.6
Current: 15.75

During the past years, Philip Morris International's highest Cyclically Adjusted Price-to-FCF was 26.60. The lowest was 11.38. And the median was 16.48.

STU:4I1's Cyclically Adjusted Price-to-FCF is ranked worse than
75% of 24 companies
in the Tobacco Products industry
Industry Median: 10.41 vs STU:4I1: 15.75

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.

Philip Morris International's adjusted free cash flow per share data for the three months ended in Mar. 2024 was €-0.104. 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 €5.92 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Philip Morris International Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Philip Morris International'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.

Philip Morris International Cyclically Adjusted Price-to-FCF Chart

Philip Morris International 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 15.86 15.15 16.08 16.11 14.99

Philip Morris International 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 15.63 15.60 14.78 14.99 14.45

Competitive Comparison of Philip Morris International's Cyclically Adjusted Price-to-FCF

For the Tobacco subindustry, Philip Morris International'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.


Philip Morris International's Cyclically Adjusted Price-to-FCF Distribution in the Tobacco Products Industry

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

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



Philip Morris International 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.

Philip Morris International's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=91.84/5.92
=15.51

* 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.

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

For example, Philip Morris International'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)
=-0.104/131.7762*131.7762
=-0.104

Current CPI (Mar. 2024) = 131.7762.

Philip Morris International Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 1.149 100.560 1.506
201409 1.328 100.428 1.743
201412 0.526 99.070 0.700
201503 -0.345 99.621 -0.456
201506 1.993 100.684 2.608
201509 1.421 100.392 1.865
201512 0.917 99.792 1.211
201603 0.137 100.470 0.180
201606 1.217 101.688 1.577
201609 1.630 101.861 2.109
201612 1.046 101.863 1.353
201703 0.332 102.862 0.425
201706 1.695 103.349 2.161
201709 0.802 104.136 1.015
201712 1.288 104.011 1.632
201803 0.530 105.290 0.663
201806 1.973 106.317 2.445
201809 0.747 106.507 0.924
201812 1.180 105.998 1.467
201903 0.522 107.251 0.641
201906 1.856 108.070 2.263
201909 1.102 108.329 1.341
201912 1.832 108.420 2.227
202003 0.547 108.902 0.662
202006 1.017 108.767 1.232
202009 1.887 109.815 2.264
202012 1.591 109.897 1.908
202103 0.138 111.754 0.163
202106 1.863 114.631 2.142
202109 2.026 115.734 2.307
202112 2.126 117.630 2.382
202203 0.520 121.301 0.565
202206 1.996 125.017 2.104
202209 1.833 125.227 1.929
202212 1.670 125.222 1.757
202303 -0.742 127.348 -0.768
202306 1.832 128.729 1.875
202309 1.835 129.860 1.862
202312 1.766 129.419 1.798
202403 -0.104 131.776 -0.104

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.


Philip Morris International  (STU:4I1) 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.


Philip Morris International Cyclically Adjusted Price-to-FCF Related Terms

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


Philip Morris International (STU:4I1) Business Description

Address
677 Washington Boulevard, Suite 1100, Stamford, Connecticut, New York, NY, USA, 06901
Philip Morris International is an international tobacco company with a product portfolio primarily consisting of cigarettes and reduced-risk products, including heat-not-burn, vapor and oral nicotine products, which are sold in markets outside the United States. The company diversified away from cigarettes with the 2022 acquisition of Swedish Match, a leading manufacturer of traditional oral tobacco products and nicotine pouches, primarily in the U.S. and Scandinavia. It diversified away from nicotine products with the acquisition of Vectura, a provider of innovative inhaled drug delivery solutions, in 2021.

Philip Morris International (STU:4I1) Headlines

No Headlines