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Imax (STU:IMA) Cyclically Adjusted FCF per Share : €0.18 (As of Mar. 2024)


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What is Imax Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and 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.

Imax's adjusted free cash flow per share for the three months ended in Mar. 2024 was €-0.312. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is €0.18 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Imax's average Cyclically Adjusted FCF Growth Rate was -26.90% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 5.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was -4.10% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 24.20% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of Imax was 71.00% per year. The lowest was -20.60% per year. And the median was 7.85% per year.

As of today (2024-06-05), Imax's current stock price is €14.60. Imax's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €0.18. Imax's Cyclically Adjusted Price-to-FCF of today is 81.11.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Imax was 4322.00. The lowest was 30.27. And the median was 103.50.


Imax Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Imax's Cyclically Adjusted FCF per Share 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.

Imax Cyclically Adjusted FCF per Share Chart

Imax Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.27 0.15 0.25 0.18 0.20

Imax Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted FCF per Share 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 0.24 0.23 0.24 0.20 0.18

Competitive Comparison of Imax's Cyclically Adjusted FCF per Share

For the Entertainment subindustry, Imax'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.


Imax's Cyclically Adjusted Price-to-FCF Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Imax's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Imax Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and 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.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

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. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, Imax'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)
=-0.312/126.2576*126.2576
=-0.312

Current CPI (Mar. 2024) = 126.2576.

Imax Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.071 99.473 0.090
201409 0.250 99.394 0.318
201412 -0.026 98.367 -0.033
201503 -0.288 99.789 -0.364
201506 -0.112 100.500 -0.141
201509 0.126 100.421 0.158
201512 0.368 99.947 0.465
201603 -0.055 101.054 -0.069
201606 0.124 102.002 0.153
201609 0.021 101.765 0.026
201612 0.115 101.449 0.143
201703 -0.192 102.634 -0.236
201706 0.285 103.029 0.349
201709 0.004 103.345 0.005
201712 0.076 103.345 0.093
201803 0.044 105.004 0.053
201806 0.329 105.557 0.394
201809 0.095 105.636 0.114
201812 0.259 105.399 0.310
201903 -0.189 106.979 -0.223
201906 0.491 107.690 0.576
201909 0.115 107.611 0.135
201912 0.158 107.769 0.185
202003 0.049 107.927 0.057
202006 -0.451 108.401 -0.525
202009 -0.171 108.164 -0.200
202012 0.086 108.559 0.100
202103 -0.206 110.298 -0.236
202106 -0.125 111.720 -0.141
202109 -0.105 112.905 -0.117
202112 0.285 113.774 0.316
202203 -0.150 117.646 -0.161
202206 -0.147 120.806 -0.154
202209 -0.072 120.648 -0.075
202212 0.125 120.964 0.130
202303 0.288 122.702 0.296
202306 0.007 124.203 0.007
202309 0.314 125.230 0.317
202312 -0.170 125.072 -0.172
202403 -0.312 126.258 -0.312

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


Imax  (STU:IMA) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

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.

Imax's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=14.60/0.18
=81.11

* 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.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Imax was 4322.00. The lowest was 30.27. And the median was 103.50.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Imax Cyclically Adjusted FCF per Share Related Terms

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


Imax (STU:IMA) Business Description

Traded in Other Exchanges
Address
2525 Speakman Drive, Mississauga, ON, CAN, L5K 1B1
Imax is now primarily a technology hardware and brand-licensing company that does not operate the vast majority of Imax theaters. Instead, the firm generates revenue via selling and leasing the required proprietary equipment and via fees for digitally remastering standard films into the proprietary Imax format. The firm has expanded from 210 commercial theaters in 2008 to over 1,630 today and increased the annual number of Imax releases from 13 in 2007 to 68 in 2028. Roughly 70% of the firm's screens are in China (48%) and the U.S. (22%), but Imax has screens in 87 countries.

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