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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2024-05-17), Great Ajax's Intrinsic Value: Projected FCF is $1.66. The stock price of Great Ajax is $3.70. Therefore, Great Ajax's Price-to-Intrinsic-Value-Projected-FCF of today is 2.2.
The historical rank and industry rank for Great Ajax's Intrinsic Value: Projected FCF or its related term are showing as below:
During the past 10 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Great Ajax was 2.29. The lowest was 0.60. And the median was 0.96.
The historical data trend for Great Ajax's Intrinsic Value: Projected 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.
Great Ajax Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Intrinsic Value: Projected FCF | Get a 7-Day Free Trial | - | 13.49 | 10.14 | 8.90 | 3.66 |
Great Ajax Quarterly Data | ||||||||||||||||||||
Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
Intrinsic Value: Projected FCF | Get a 7-Day Free Trial | 6.84 | 5.78 | 5.54 | 3.66 | 1.66 |
For the REIT - Mortgage subindustry, Great Ajax's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-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.
For the REITs industry and Real Estate sector, Great Ajax's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Great Ajax's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)
In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):
Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)
Add all the Free Cash Flow together and divide 6 will get Great Ajax's Free Cash Flow(6 year avg) = $-15.97.
Great Ajax's Intrinsic Value: Projected FCF for today is calculated as
Intrinsic Value: Projected FCF | = | (Growth Multiple | * | Free Cash Flow (6 year avg) | + | Total Stockholders Equity (Mar24) | * | 0.8) | / | Shares Outstanding (Diluted Average) |
= | (9.5203515959648 | * | -15.97008 | + | 254.297 | * | 0.8) | / | 30.893 | |
= | 1.66 |
* 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.
Great Ajax (NYSE:AJX) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Great Ajax's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF | = | Share Price | / | Intrinsic Value: Projected FCF |
= | 3.70 | / | 1.6637045086043 | |
= | 2.22 |
* 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.
Thank you for viewing the detailed overview of Great Ajax's Intrinsic Value: Projected FCF provided by GuruFocus.com. Please click on the following links to see related term pages.
Mary B Doyle | officer: Chief Financial Officer | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
Mary Haggerty | director | 13190 SW 68TH PARKWAY, SUITE 110, TIGARD OR 97223 |
Russell Schaub | director, officer: PRESIDENT | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
Lawrence Mendelsohn | director, officer: CHIEF EXECUTIVE OFFICER | |
Magnetar Financial Llc | 10 percent owner | 1603 ORRINGTON AVE., 13TH FLOOR, EVANSTON IL 60201 |
Magnetar Capital Partners Lp | 10 percent owner | 1603 ORRINGTON AVE., 13TH FLOOR, EVANSTON IL 60201 |
Supernova Management Llc | 10 percent owner | 1603 ORRINGTON AVENUE, 13TH FLOOR, EVANSTON IL 60201 |
Alec N Litowitz | 10 percent owner | C/O MAGNETAR FINANCIAL LLC, 1603 ORRINGTON AVENUE, 13TH FLOOR, EVANSTON IL 60201 |
Paul M Friedman | director | 11 DEERFIELD LANE, SCARSDALE NY 10583 |
Ogren John Kirk Jr | director | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
John C Condas | director | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
Handley Jonathan Bradford Jr | director | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
Daniel Jay Hoffman | director | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
Glenn J Ohl | officer: CHIEF FINANCIAL OFFICER | 9400 SW BEAVERTON-HILLSDALE HWY, SUITE 131, BEAVERTON OR 97005 |
Luxor Capital Group, Lp | 10 percent owner | 7 TIMES SQUARE, 43RD FLOOR, NEW YORK NY 10036 |
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