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InfuSystems Holdings's total free cash flow for the months ended in Dec. 2023 was $2.7 Mil. Its total free cash flow for the trailing twelve months (TTM) ended in Dec. 2023 was $0.1 Mil.
InfuSystems Holdings's Free Cash Flow per Share for the months ended in Dec. 2023 was $0.12. Its free cash flow per share for the trailing twelve months (TTM) ended in Dec. 2023 was $-0.01.
During the past 12 months, the average Free Cash Flow per Share Growth Rate of InfuSystems Holdings was -95.60% per year. During the past 3 years, the average Free Cash Flow per Share Growth Rate was -68.20% 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 Free Cash Flow Growth Rate using Free Cash Flow per Share data.
During the past 13 years, InfuSystems Holdings's highest 3-Year average Free Cash Flow per Share Growth Rate was 26.60% per year. The lowest was -120.50% per year. And the median was -29.75% per year.
The historical data trend for InfuSystems Holdings's Free Cash Flow 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.
InfuSystems Holdings Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Free Cash Flow | Get a 7-Day Free Trial | -8.72 | 3.37 | 1.66 | 2.44 | 0.11 |
InfuSystems Holdings Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Free Cash Flow | Get a 7-Day Free Trial | 0.51 | -4.44 | -0.75 | 2.63 | 2.66 |
Free Cash Flow is considered one of the most important parameters to measure a company's earnings power by value investors because it is not subject to estimates of Depreciation, Depletion and Amortization (DDA). However, when we look at the Free Cash Flow, we should look from a long term perspective, because any year's Free Cash Flow can be drastically affected by the spending on Property, Plant, & Equipment (PPE) of the business in that year. Over the long term, Free Cash Flow should give pretty good picture on the real earnings power of the company.
InfuSystems Holdings's Free Cash Flow for the fiscal year that ended in Dec. 2023 is calculated as
Free Cash Flow (A: Dec. 2023 ) | = | Cash Flow from Operations | + | Capital Expenditure |
= | 11.223 | + | -11.117 | |
= | 0.1 |
InfuSystems Holdings's Free Cash Flow for the quarter that ended in Dec. 2023 is calculated as
Free Cash Flow (Q: Dec. 2023 ) | = | Cash Flow from Operations | + | Capital Expenditure |
= | 4.658 | + | -1.998 | |
= | 2.7 |
Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $0.1 Mil.
* 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.
InfuSystems Holdings (AMEX:INFU) Free Cash Flow Explanation
Free Cash Flow is very close to Warren Buffett's definition of Owner's Earnings, except that in Warren Buffett's Owner's Earnings, the spending for Property, Plant, and Equipment is only for maintenance (replacement), while in the Free Cash Flow calculation, the cost of new Property, Plant, and Equipment due to business expansion is also deducted. There, Free Cash Flow is more conservative than Owner's Earnings.
In Don Yacktman's calculation of forward rate of return, he uses Free Cash Flow for the calculation. Yacktman explained the forward rate of return concept in detail in his interview with GuruFocus. Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation.
This is what Yacktman said in his March 2012 interview - when the S&P 500 was at 1400:
If the business is stable, this calculation is fairly straightforward. For instance, on the S&P 500 we would normalize earnings. We would then calculate what percentage of those earnings are not reinvested in the underlying businesses and are therefore free. Historically, for the S&P 500, this has been just under 50% of earnings. Currently, we expect the S&P to earn about 70 on a normalized basis, a number which is far below reported earnings due to our adjusting for record high profit margins. $70 X ½ / 1400 gives you a normalized free cash flow yield of approximately 2.5%.
The historical real growth rate of the S&P 500 (companies) is about 1.5%. Assuming an inflation rate of 2.5%, the forward rate of return on an investment in the S&P 500 is about 6.5% today (2.5% free cash flow yield plus 1.5% real growth plus 2.5% inflation).
For the growth part of the Forward Rate of Return calculation, GuruFocus uses the 5-year average growth rate of EBITDA per share as the growth rate, and the growth rate is always capped at 20%. For the Free Cash Flow we use per share data averaged over seven years. The reason we use seven years is because research shows that seven years is the length of the typical business cycle.
Therefore, as of Dec23, InfuSystems Holdings's Forward Rate of Return (Yacktman) % is
Forward Rate of Return (Yacktman) % (Dec23) | = | Normalized Free Cash Flow | / | Price | + | 5-Year EBITDA Growth Rate |
= | -0.02438095 | / | 10.54 | + | 0.1915 | |
= | 18.92 % |
* 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.
Be Aware
Free Cash Flow within a report period can be affected by management's decisions of capital spending. Therefore, it is important to look at long term when it comes to Free Cash Flow.
Thank you for viewing the detailed overview of InfuSystems Holdings's Free Cash Flow provided by GuruFocus.com. Please click on the following links to see related term pages.
Jerod Funke | officer: EVP-Chief HR Officer | 3851 WEST HAMLIN RD, ROCHESTER HILLS MI 48309 |
R. Rimmy Malhotra | director | C/O COMMAND CENTER, INC., 3609 S WADSWORTH BLVD., SUITE 250, LAKEWOOD CO 80235 |
Gregg Owen Lehman | director | 309 HADDON COURT, FRANKLIN X1 37067 |
Richard Dilorio | officer: Executive Vice President | 31700 RESEARCH PARK DRIVE, MADISON HEIGHTS MI 48071 |
Barry G Steele | officer: Executive VP and CFO | 500 TOWN CENTER DR., SUITE 200, DEARBORN MI 48126 |
Carrie Lachance | officer: Executive VP and COO | 31700 RESEARCH PARK DRIVE, MADISON HEIGHTS MI 48071 |
Christopher R. Sansone | director | C/O SANSONE ADVISORS, LLC, 151 BODMAN PLACE, SUITE 100, RED BANK NJ 07701 |
Addam Chupa | officer: Executive VP and CIO | 3851 WEST HAMLIN ROAD, ROCHESTER HILLS MI 48309 |
Kevin Whitman | officer: VP and Corporate Controller | 31700 RESEARCH PARK DRIVE, MADISON HEIGHTS MI 48071 |
Thomas Mark Ruiz | officer: VP of Sales and Marketing | 31700 RESEARCH PARK DRIVE, MADISON HEIGHTS MI 48071 |
Boyd Ralph F Jr | director | |
Paul Andrew Gendron | director | 740 BANDIT TRAIL, KELLER TX 76248 |
Jeannine Sheehan | officer: Chief Administrative Officer | 31700 RESEARCH PARK DRIVE, MADISON HEIGHTS MI 48071 |
Blueline Capital Partners Ii, L.p. | director | 3480 BUSKIRK AVENUE, SUITE 214, PLEASANT HILL CA 94523 |
Meridian Tsv Ii, Lp | 10 percent owner | 405 WEED STREET, NEW CANAAN CT 06840 |
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