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ERG SPA (MIL:ERG) Cyclically Adjusted Price-to-FCF : 9.69 (As of Jun. 10, 2024)


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What is ERG SPA Cyclically Adjusted Price-to-FCF?

As of today (2024-06-10), ERG SPA's current share price is €25.20. ERG SPA's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €2.60. ERG SPA's Cyclically Adjusted Price-to-FCF for today is 9.69.

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

MIL:ERG' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 8.87   Med: 15   Max: 19.67
Current: 9.68

During the past years, ERG SPA's highest Cyclically Adjusted Price-to-FCF was 19.67. The lowest was 8.87. And the median was 15.00.

MIL:ERG's Cyclically Adjusted Price-to-FCF is ranked better than
60.66% of 122 companies
in the Utilities - Independent Power Producers industry
Industry Median: 15.155 vs MIL:ERG: 9.68

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.

ERG SPA's adjusted free cash flow per share data for the three months ended in Mar. 2024 was €0.473. 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 €2.60 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


ERG SPA Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for ERG SPA'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.

ERG SPA Cyclically Adjusted Price-to-FCF Chart

ERG SPA 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 15.04 - - 13.10 11.18

ERG SPA 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 10.83 11.58 9.52 11.18 8.95

Competitive Comparison of ERG SPA's Cyclically Adjusted Price-to-FCF

For the Utilities - Renewable subindustry, ERG SPA'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.


ERG SPA's Cyclically Adjusted Price-to-FCF Distribution in the Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, ERG SPA's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



ERG SPA 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=25.20/2.6
=9.69

* 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.

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

For example, ERG SPA'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)
=0.473/120.2000*120.2000
=0.473

Current CPI (Mar. 2024) = 120.2000.

ERG SPA Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.364 100.093 0.437
201409 1.090 99.814 1.313
201412 -0.170 99.721 -0.205
201503 0.568 99.814 0.684
201506 -0.645 100.279 -0.773
201509 0.039 100.000 0.047
201512 0.517 99.814 0.623
201603 0.186 99.600 0.224
201606 0.275 99.900 0.331
201609 1.137 100.100 1.365
201612 0.614 100.300 0.736
201703 0.693 101.000 0.825
201706 0.384 101.100 0.457
201709 1.055 101.200 1.253
201712 0.018 101.200 0.021
201803 0.603 101.800 0.712
201806 -0.067 102.400 -0.079
201809 0.861 102.600 1.009
201812 -0.112 102.300 -0.132
201903 0.441 102.800 0.516
201906 0.047 103.100 0.055
201909 1.440 102.900 1.682
201912 0.608 102.800 0.711
202003 0.000 102.900 0.000
202006 0.000 102.900 0.000
202009 0.000 102.300 0.000
202012 0.000 102.600 0.000
202103 0.000 103.700 0.000
202106 0.000 104.200 0.000
202109 0.000 104.900 0.000
202112 0.000 106.600 0.000
202203 0.403 110.400 0.439
202206 2.047 112.500 2.187
202209 -0.040 114.200 -0.042
202212 1.108 119.000 1.119
202303 1.344 118.800 1.360
202306 0.860 119.700 0.864
202309 -0.080 120.300 -0.080
202312 2.676 119.700 2.687
202403 0.473 120.200 0.473

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.


ERG SPA  (MIL:ERG) 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.


ERG SPA Cyclically Adjusted Price-to-FCF Related Terms

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


ERG SPA (MIL:ERG) Business Description

Traded in Other Exchanges
Address
Via De Marini, 1, Torre WTC, Genoa, ITA, 16149
ERG SPA produces electricity from clean, renewable, and sustainable sources. The company produces wind power, and electricity as a hydroelectric operator to markets across Europe. Electricity is also generated from natural gas operations located in Italy. ERG's wind power production is handled by subsidiary ENG Renew that focuses on developing, building, and operating wind assets. Hydropower and natural gas operations are split off into ERG Power Generation. The company's hydro assets include plants, dams, reservoirs, and a pumping station. Natural gas production contributes the most revenue for ERG, and is churned out from a cogeneration plant that produces electricity and steam. Electricity from the plant is either fed into Italy's national grid or used to power other industrial plants.

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