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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.
HealthStream's adjusted free cash flow per share for the three months ended in Mar. 2024 was $0.433. 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 $0.90 for the trailing ten years ended in Mar. 2024.
During the past 12 months, HealthStream's average Cyclically Adjusted FCF Growth Rate was 2.30% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 8.30% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 6.60% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 10.20% 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 HealthStream was 149.30% per year. The lowest was 5.80% per year. And the median was 12.60% per year.
As of today (2024-05-15), HealthStream's current stock price is $27.26. HealthStream's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was $0.90. HealthStream's Cyclically Adjusted Price-to-FCF of today is 30.29.
During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of HealthStream was 136.19. The lowest was 23.28. And the median was 41.58.
The historical data trend for HealthStream'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.
HealthStream 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 | 0.88 | 0.85 | 0.87 | 0.89 | 0.90 |
For the Health Information Services subindustry, HealthStream'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.
For the Healthcare Providers & Services industry and Healthcare sector, HealthStream's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where HealthStream's Cyclically Adjusted Price-to-FCF falls into.
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, HealthStream'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) |
= | 0.433 | / | 129.4194 | * | 129.4194 | |
= | 0.433 |
Current CPI (Mar. 2024) = 129.4194.
HealthStream Quarterly Data
Free Cash Flow per Share | CPI | Adj_FreeCashFlowPerShare | |
201406 | 0.370 | 100.560 | 0.476 |
201409 | 0.165 | 100.428 | 0.213 |
201412 | 0.087 | 99.070 | 0.114 |
201503 | 0.166 | 99.621 | 0.216 |
201506 | 0.231 | 100.684 | 0.297 |
201509 | 0.083 | 100.392 | 0.107 |
201512 | 0.168 | 99.792 | 0.218 |
201603 | 0.032 | 100.470 | 0.041 |
201606 | -0.258 | 101.688 | -0.328 |
201609 | 0.352 | 101.861 | 0.447 |
201612 | 0.199 | 101.863 | 0.253 |
201703 | 0.410 | 102.862 | 0.516 |
201706 | 0.038 | 103.349 | 0.048 |
201709 | 0.278 | 104.136 | 0.345 |
201712 | 0.256 | 104.011 | 0.319 |
201803 | 0.129 | 105.290 | 0.159 |
201806 | 0.083 | 106.317 | 0.101 |
201809 | 0.296 | 106.507 | 0.360 |
201812 | 0.258 | 105.998 | 0.315 |
201903 | -0.006 | 107.251 | -0.007 |
201906 | 0.272 | 108.070 | 0.326 |
201909 | 0.348 | 108.329 | 0.416 |
201912 | 0.284 | 108.420 | 0.339 |
202003 | 0.032 | 108.902 | 0.038 |
202006 | 0.113 | 108.767 | 0.134 |
202009 | 0.375 | 109.815 | 0.442 |
202012 | 0.013 | 109.897 | 0.015 |
202103 | 0.377 | 111.754 | 0.437 |
202106 | -0.008 | 114.631 | -0.009 |
202109 | 0.177 | 115.734 | 0.198 |
202112 | -0.007 | 117.630 | -0.008 |
202203 | 0.443 | 121.301 | 0.473 |
202206 | 0.042 | 125.017 | 0.043 |
202209 | 0.298 | 125.227 | 0.308 |
202212 | 0.064 | 125.222 | 0.066 |
202303 | 0.395 | 127.348 | 0.401 |
202306 | -0.042 | 128.729 | -0.042 |
202309 | 0.584 | 129.860 | 0.582 |
202312 | 0.237 | 129.419 | 0.237 |
202403 | 0.433 | 129.419 | 0.433 |
Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.
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.
HealthStream's Cyclically Adjusted Price-to-FCF of today is calculated as
Cyclically Adjusted Price-to-FCF | = | Share Price | / | Cyclically Adjusted FCF per Share |
= | 27.26 | / | 0.9 | |
= | 30.29 |
* 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 HealthStream was 136.19. The lowest was 23.28. And the median was 41.58.
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.
Thank you for viewing the detailed overview of HealthStream's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.
Amir Alex Jahangir | director | 500 11TH AVENUE NORTH, SUITE 1000, NASHVILLE TN 37203 |
J Edward Pearson | officer: Senior Vice President | |
Tate Deborah Taylor | director | 209 10TH AVENUE SOUTH, SUITE 450, NASHVILLE TN 37203 |
Jeffrey L Mclaren | director | 209 10TH AVE SOUTH STE 450, NASHVILLE TN 37203 |
Michael Scott Mcquigg | officer: Senior VP, hStream Solutions | 209 10TH AVENUE SOUTH, SUITE 450, NASHVILLE TN 37203 |
Terry Allison Rappuhn | director | P O BOX 58062, NASHVILLE TN 37205 |
Frank Gordon | director | 3102 WEST END AVE., SUITE 650, NASHVILLE TN 37203 |
Frist Robert A Jr | 10 percent owner, officer: CEO | 211 CRAIGHEAD AVE, NASHVILLE TN 37205 |
Scott Fenstermacher | officer: Senior Vice President | 500 11TH AVENUE NORTH, SUITE 1000, NASHVILLE TN 37203 |
Linda Rebrovick | director | 511 UNION STREET, SUITE 1900, NASHVILLE TN 37219 |
C Martin Harris | director | |
Scott Alexander Roberts | officer: Interim CFO | 209 10TH AVENUE SOUTH, SUITE 450, NASHVILLE TN 37203 |
Trisha L Coady | officer: SVP & GM, Clinical Solutions | 209 10TH AVENUE SOUTH, SUITE 450, NASHVILLE TN 37203 |
Hayden Gerard M Jr | director | C/O PRIVATE BUSINESS INC, P O BOX 1603, BRENTWOOD TN 37024 |
Michael Sousa | officer: Senior Vice President | 209 10TH AVENUE SOUTH, SUITE 450, NASHVILLE TN 37203 |
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