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H&R Real Estate Investment Trust (TSX:HR.UN) Cyclically Adjusted Price-to-FCF : 5.75 (As of May. 24, 2024)


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What is H&R Real Estate Investment Trust Cyclically Adjusted Price-to-FCF?

As of today (2024-05-24), H&R Real Estate Investment Trust's current share price is C$9.32. H&R Real Estate Investment Trust's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was C$1.62. H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF for today is 5.75.

The historical rank and industry rank for H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

TSX:HR.UN' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 3.41   Med: 7.16   Max: 107.41
Current: 5.77

During the past years, H&R Real Estate Investment Trust's highest Cyclically Adjusted Price-to-FCF was 107.41. The lowest was 3.41. And the median was 7.16.

TSX:HR.UN's Cyclically Adjusted Price-to-FCF is ranked better than
79.07% of 387 companies
in the REITs industry
Industry Median: 11.46 vs TSX:HR.UN: 5.77

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.

H&R Real Estate Investment Trust's adjusted free cash flow per share data for the three months ended in Mar. 2024 was C$0.266. 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 C$1.62 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


H&R Real Estate Investment Trust Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for H&R Real Estate Investment Trust'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.

H&R Real Estate Investment Trust Cyclically Adjusted Price-to-FCF Chart

H&R Real Estate Investment Trust 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 9.27 5.15 6.42 6.68 5.94

H&R Real Estate Investment Trust 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 7.15 5.72 5.29 5.94 5.70

Competitive Comparison of H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF

For the REIT - Diversified subindustry, H&R Real Estate Investment Trust'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.


H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF Distribution in the REITs Industry

For the REITs industry and Real Estate sector, H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF falls into.



H&R Real Estate Investment Trust 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.

H&R Real Estate Investment Trust's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=9.32/1.62
=5.75

* 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.

H&R Real Estate Investment Trust's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, H&R Real Estate Investment Trust'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)
=0.266/126.2576*126.2576
=0.266

Current CPI (Mar. 2024) = 126.2576.

H&R Real Estate Investment Trust Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.584 99.473 0.741
201409 0.726 99.394 0.922
201412 0.684 98.367 0.878
201503 0.632 99.789 0.800
201506 0.592 100.500 0.744
201509 0.627 100.421 0.788
201512 -0.305 99.947 -0.385
201603 0.290 101.054 0.362
201606 0.220 102.002 0.272
201609 0.492 101.765 0.610
201612 0.279 101.449 0.347
201703 0.375 102.634 0.461
201706 0.433 103.029 0.531
201709 0.283 103.345 0.346
201712 0.390 103.345 0.476
201803 0.303 105.004 0.364
201806 0.293 105.557 0.350
201809 0.468 105.636 0.559
201812 0.346 105.399 0.414
201903 0.256 106.979 0.302
201906 0.360 107.690 0.422
201909 0.320 107.611 0.375
201912 0.300 107.769 0.351
202003 0.182 107.927 0.213
202006 0.351 108.401 0.409
202009 0.413 108.164 0.482
202012 0.358 108.559 0.416
202103 0.296 110.298 0.339
202106 0.270 111.720 0.305
202109 0.499 112.905 0.558
202112 0.343 113.774 0.381
202203 0.131 117.646 0.141
202206 0.179 120.806 0.187
202209 0.278 120.648 0.291
202212 0.222 120.964 0.232
202303 0.104 122.702 0.107
202306 0.331 124.203 0.336
202309 0.366 125.230 0.369
202312 0.161 125.072 0.163
202403 0.266 126.258 0.266

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.


H&R Real Estate Investment Trust  (TSX:HR.UN) 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.


H&R Real Estate Investment Trust Cyclically Adjusted Price-to-FCF Related Terms

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H&R Real Estate Investment Trust (TSX:HR.UN) Business Description

Traded in Other Exchanges
Address
3625 Dufferin Street, Suite 500, Toronto, ON, CAN, M3K 1N4
H&R Real Estate Investment Trust is a real estate investment trust principally involved in the ownership of properties in Canada and the U.S. The REIT has four reportable operating segments- Residential, Industrial, Office and Retail, in two geographical locations -Canada and the United States. The operating segments derive their revenue from rental income from leases. The majority of this income is generated by its Canadian properties. In terms of property type, H&R's Office contribute to its total revenue.

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