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JD.com (HKSE:09618) Cyclically Adjusted Price-to-FCF : 19.28 (As of Sep. 20, 2024)


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What is JD.com Cyclically Adjusted Price-to-FCF?

As of today (2024-09-20), JD.com's current share price is HK$112.60. JD.com's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2024 was HK$5.84. JD.com's Cyclically Adjusted Price-to-FCF for today is 19.28.

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

HKSE:09618' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 17.23   Med: 35.93   Max: 91.6
Current: 19.73

During the past years, JD.com's highest Cyclically Adjusted Price-to-FCF was 91.60. The lowest was 17.23. And the median was 35.93.

HKSE:09618's Cyclically Adjusted Price-to-FCF is ranked worse than
64.88% of 430 companies
in the Retail - Cyclical industry
Industry Median: 12.43 vs HKSE:09618: 19.73

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.

JD.com's adjusted free cash flow per share data for the three months ended in Jun. 2024 was HK$17.706. 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 HK$5.84 for the trailing ten years ended in Jun. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


JD.com Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for JD.com'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.

JD.com Cyclically Adjusted Price-to-FCF Chart

JD.com 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 - - - 69.04 25.54

JD.com Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 35.88 27.95 25.54 27.35 17.74

Competitive Comparison of JD.com's Cyclically Adjusted Price-to-FCF

For the Internet Retail subindustry, JD.com'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.


JD.com's Cyclically Adjusted Price-to-FCF Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, JD.com's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



JD.com 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.

JD.com's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=112.60/5.84
=19.28

* 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.

JD.com's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2024 is calculated as:

For example, JD.com's adjusted Free Cash Flow per Share data for the three months ended in Jun. 2024 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Jun. 2024 (Change)*Current CPI (Jun. 2024)
=17.706/114.7809*114.7809
=17.706

Current CPI (Jun. 2024) = 114.7809.

JD.com Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201409 0.130 98.900 0.151
201412 -0.803 99.000 -0.931
201503 0.264 99.900 0.303
201506 0.095 99.500 0.110
201509 -0.610 100.500 -0.697
201512 -0.475 100.600 -0.542
201603 0.420 102.200 0.472
201606 0.245 101.400 0.277
201609 1.143 102.400 1.281
201612 -0.950 102.600 -1.063
201703 0.743 103.200 0.826
201706 3.491 103.100 3.887
201709 -1.392 104.100 -1.535
201712 0.242 104.500 0.266
201803 -1.592 105.300 -1.735
201806 2.469 104.900 2.702
201809 -1.240 106.600 -1.335
201812 0.352 106.500 0.379
201903 0.466 107.700 0.497
201906 3.580 107.700 3.815
201909 0.112 109.800 0.117
201912 -2.452 111.200 -2.531
202003 -0.655 112.300 -0.669
202006 4.274 110.400 4.444
202009 1.837 111.700 1.888
202012 -0.160 111.500 -0.165
202103 -4.078 112.662 -4.155
202106 9.934 111.769 10.202
202109 2.829 112.215 2.894
202112 -1.071 113.108 -1.087
202203 -2.795 114.335 -2.806
202206 10.411 114.558 10.431
202209 1.352 115.339 1.345
202212 3.485 115.116 3.475
202303 -9.770 115.116 -9.742
202306 16.068 114.558 16.099
202309 3.388 115.339 3.372
202312 3.942 114.781 3.942
202403 -5.087 115.227 -5.067
202406 17.706 114.781 17.706

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.


JD.com  (HKSE:09618) 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.


JD.com Cyclically Adjusted Price-to-FCF Related Terms

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


JD.com Business Description

Address
No. 18 Kechuang 11 Street, 20th Floor, Building A, Yizhuang Economic and Technological Development Zo, Daxing District, Beijing, CHN, 101111
JD.com is a leading e-commerce platform with its 2022 China GMV being similar to Pinduoduo (GMV not reported), on our estimate, but still lower than Alibaba. it offers a wide selection of authentic products with speedy and reliable delivery. The company has built its own nationwide fulfilment infrastructure and last-mile delivery network, staffed by its own employees, which supports both its online direct sales, its online marketplace and omnichannel businesses.
Executives
Brown Brothers Harriman & Co. 2502 Approved lending agent

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