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Gold Reserve (TSXV:GRZ) Cyclically Adjusted Price-to-FCF : (As of Jun. 11, 2024)


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What is Gold Reserve Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


Gold Reserve Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Gold Reserve'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.

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Gold Reserve Cyclically Adjusted Price-to-FCF Chart

Gold Reserve Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
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Gold Reserve Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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Competitive Comparison of Gold Reserve's Cyclically Adjusted Price-to-FCF

For the Gold subindustry, Gold Reserve'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.


Gold Reserve's Cyclically Adjusted Price-to-FCF Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Gold Reserve's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Gold Reserve 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.

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

For example, Gold Reserve'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)
=-0.031/131.7762*131.7762
=-0.031

Current CPI (Mar. 2024) = 131.7762.

Gold Reserve Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 -0.038 100.560 -0.050
201409 -0.026 100.428 -0.034
201412 -0.022 99.070 -0.029
201503 -0.026 99.621 -0.034
201506 -0.024 100.684 -0.031
201509 -0.026 100.392 -0.034
201512 -0.080 99.792 -0.106
201603 -0.049 100.470 -0.064
201606 -0.035 101.688 -0.045
201609 -0.041 101.861 -0.053
201612 -0.051 101.863 -0.066
201703 -0.031 102.862 -0.040
201706 -0.020 103.349 -0.026
201709 -0.471 104.136 -0.596
201712 -0.087 104.011 -0.110
201803 -0.066 105.290 -0.083
201806 -0.202 106.317 -0.250
201809 -0.069 106.507 -0.085
201812 -0.523 105.998 -0.650
201903 -0.016 107.251 -0.020
201906 -0.040 108.070 -0.049
201909 -0.040 108.329 -0.049
201912 -0.041 108.420 -0.050
202003 0.027 108.902 0.033
202006 -0.040 108.767 -0.048
202009 -0.026 109.815 -0.031
202012 -0.020 109.897 -0.024
202103 -0.019 111.754 -0.022
202106 -0.034 114.631 -0.039
202109 -0.021 115.734 -0.024
202112 -0.035 117.630 -0.039
202203 -0.014 121.301 -0.015
202206 -0.026 125.017 -0.027
202209 -0.015 125.227 -0.016
202212 -0.029 125.222 -0.031
202303 -0.025 127.348 -0.026
202306 -0.029 128.729 -0.030
202309 -0.016 129.860 -0.016
202312 -0.030 129.419 -0.031
202403 -0.031 131.776 -0.031

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.


Gold Reserve  (TSXV:GRZ) 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.


Gold Reserve Cyclically Adjusted Price-to-FCF Related Terms

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Gold Reserve (TSXV:GRZ) Business Description

Traded in Other Exchanges
Address
999 West Riverside Avenue, Suite 401, Spokane, WA, USA, 99201
Gold Reserve Inc, along with its subsidiaries, is engaged in the business of acquiring, exploring, and developing mining projects. Its primary business activities have been the collection of the remaining amounts owed to the company by Venezuela and, the advancement of the Siembra Minera Project. . Siembra Minera project was granted certain gold, copper, silver, and other strategic mineral rights.
Executives
Llc Camac Partners 10% Security Holder

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