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Metro (TSX:MRU) Cyclically Adjusted Price-to-FCF : 25.92 (As of May. 17, 2024)


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What is Metro Cyclically Adjusted Price-to-FCF?

As of today (2024-05-17), Metro's current share price is C$74.40. Metro's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was C$2.87. Metro's Cyclically Adjusted Price-to-FCF for today is 25.92.

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

TSX:MRU' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 24.11   Med: 33.12   Max: 45.56
Current: 25.61

During the past years, Metro's highest Cyclically Adjusted Price-to-FCF was 45.56. The lowest was 24.11. And the median was 33.12.

TSX:MRU's Cyclically Adjusted Price-to-FCF is ranked worse than
76% of 125 companies
in the Retail - Defensive industry
Industry Median: 15.5 vs TSX:MRU: 25.61

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.

Metro's adjusted free cash flow per share data for the three months ended in Mar. 2024 was C$1.541. 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 C$2.87 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Metro Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Metro'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.

Metro Cyclically Adjusted Price-to-FCF Chart

Metro Annual Data
Trend Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 40.97 37.96 30.67 29.02 26.08

Metro 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 29.58 28.07 26.08 24.97 25.32

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

For the Grocery Stores subindustry, Metro'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.


Metro's Cyclically Adjusted Price-to-FCF Distribution in the Retail - Defensive Industry

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

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



Metro 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=74.40/2.87
=25.92

* 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.

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

For example, Metro'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)
=1.541/126.2576*126.2576
=1.541

Current CPI (Mar. 2024) = 126.2576.

Metro Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.498 99.473 0.632
201409 0.239 99.394 0.304
201412 -0.086 98.367 -0.110
201503 0.708 99.789 0.896
201506 0.515 100.500 0.647
201509 0.539 100.421 0.678
201512 -0.291 99.947 -0.368
201603 0.869 101.054 1.086
201606 0.551 102.002 0.682
201609 0.524 101.765 0.650
201612 -0.120 101.449 -0.149
201703 0.549 102.634 0.675
201706 0.532 103.029 0.652
201709 0.467 103.345 0.571
201712 -0.054 103.345 -0.066
201803 0.541 105.004 0.651
201806 0.803 105.557 0.960
201809 0.494 105.636 0.590
201812 -0.916 105.399 -1.097
201903 0.830 106.979 0.980
201906 1.126 107.690 1.320
201909 0.330 107.611 0.387
201912 0.011 107.769 0.013
202003 1.459 107.927 1.707
202006 1.494 108.401 1.740
202009 0.844 108.164 0.985
202012 0.572 108.559 0.665
202103 1.198 110.298 1.371
202106 1.397 111.720 1.579
202109 0.818 112.905 0.915
202112 0.146 113.774 0.162
202203 0.996 117.646 1.069
202206 1.137 120.806 1.188
202209 1.218 120.648 1.275
202212 0.342 120.964 0.357
202303 1.112 122.702 1.144
202306 1.640 124.203 1.667
202309 0.696 125.230 0.702
202312 0.240 125.072 0.242
202403 1.541 126.258 1.541

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.


Metro  (TSX:MRU) 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.


Metro Cyclically Adjusted Price-to-FCF Related Terms

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


Metro (TSX:MRU) Business Description

Industry
Traded in Other Exchanges
Address
11011 Maurice-Duplessis, Finances, Montreal, Montreal, QC, CAN, H1C 1V6
Metro is the third-largest grocery retailer in Canada (behind Loblaw and Sobeys) and also owns the top pharmacy chain in Quebec, Jean Coutu, following the 2018 acquisition. Its grocery banners include supermarket chain Metro, discounters Super C and Food Basics, and ethnic food grocer Adonis, while its pharmacies primarily operate under the Jean Coutu and Brunet trademarks. Metro operates both as a food retailer and a franchisor, licensing its trademarks and supplying merchandise to registered pharmacists. The firm also acts as a wholesaler and distributor to serve smaller, neighborhood grocery stores. Unlike peers Loblaw and Sobeys that operate chain stores across Canada, Metro's operations are concentrated in the provinces of Quebec and Ontario, with no presence in western Canada.
Executives
Carmine Fortino Senior Officer

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