Allergan (FRA:AG4) Cyclically Adjusted FCF per Share : €0.00 (As of Dec. 2014)

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What is Allergan Cyclically Adjusted FCF per Share?

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.

Allergan's adjusted free cash flow per share for the three months ended in Dec. 2014 was €1.672. 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 €0.00 for the trailing ten years ended in Dec. 2014.

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.

As of today (2024-06-22), Allergan's current stock price is €225.94. Allergan's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2014 was €0.00. Allergan's Cyclically Adjusted Price-to-FCF of today is .

Allergan Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Allergan'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.

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Allergan Cyclically Adjusted FCF per Share Chart

Allergan Annual Data

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Cyclically Adjusted FCF per Share

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Allergan Quarterly Data
	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14
Cyclically Adjusted FCF per Share	Get a 7-Day Free Trial															-	-	-	-	-

Competitive Comparison of Allergan's Cyclically Adjusted FCF per Share

For the Drug Manufacturers - Specialty & Generic subindustry, Allergan'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.

Allergan's Cyclically Adjusted Price-to-FCF Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Allergan's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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

Allergan Cyclically Adjusted FCF per Share Calculation

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, Allergan's adjusted Free Cash Flow per Share data for the three months ended in Dec. 2014 was:

Adj_FreeCashFlowPerShare	=	Free Cash Flow per Share	/	CPI of Dec. 2014 (Change)	*	Current CPI (Dec. 2014)
	=	1.672	/	99.0697	*	99.0697
	=	1.672

Current CPI (Dec. 2014) = 99.0697.

Allergan Quarterly Data

	Free Cash Flow per Share	CPI	Adj_FreeCashFlowPerShare
200503	0.218	81.555	0.265
200506	0.367	82.062	0.443
200509	0.223	83.876	0.263
200512	-0.109	83.032	-0.130
200603	0.249	84.298	0.293
200606	0.439	85.606	0.508
200609	0.414	85.606	0.479
200612	0.415	85.142	0.483
200703	0.181	86.640	0.207
200706	0.470	87.906	0.530
200709	0.486	87.964	0.547
200712	0.301	88.616	0.337
200803	0.009	90.090	0.010
200806	0.179	92.320	0.192
200809	0.370	92.307	0.397
200812	0.276	88.697	0.308
200903	0.242	89.744	0.267
200906	0.721	91.003	0.785
200909	0.706	91.120	0.768
200912	0.600	91.111	0.652
201003	0.379	91.821	0.409
201006	0.843	91.962	0.908
201009	0.674	92.162	0.725
201012	-1.020	92.474	-1.093
201103	0.270	94.283	0.284
201106	0.472	95.235	0.491
201109	0.678	95.727	0.702
201112	0.819	95.213	0.852
201203	0.450	96.783	0.461
201206	1.008	96.819	1.031
201209	1.059	97.633	1.075
201212	1.119	96.871	1.144
201303	0.248	98.209	0.250
201306	1.100	98.518	1.106
201309	1.346	98.790	1.350
201312	1.060	98.326	1.068
201403	0.290	99.695	0.288
201406	0.947	100.560	0.933
201409	1.304	100.428	1.286
201412	1.672	99.070	1.672

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Allergan (FRA:AG4) Cyclically Adjusted FCF per Share Explanation

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.

Be Aware

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.

Allergan Cyclically Adjusted FCF per Share Related Terms

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

Allergan (FRA:AG4) Business Description

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Allergan IncÂ incorporated in Delaware in 1977.Â It is a multi-specialty health care company. The Company is engaged in the developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products that enable people to live life to its full potential - to see more clearly, move more freely and express themselves more fully. It offers products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets in more than 100 countries around the world. It is also engaged in specialty pharmaceutical, biologic and medical device research and development. The Company's business segments are specialty pharmaceuticals and medical devices. The specialty pharmaceuticals segment produces pharmaceutical products, including: ophthalmic products for dry eye, glaucoma, inflammation, infection, allergy and retinal disease;Â BotoxÂ for certain therapeutic and aesthetic indications; skin care products for acne, psoriasis, eyelash growth and other prescription and over-the-counter skin care products; and urologics products. The medical devices segment produces medical devices, including: breast implants for augmentation, revision and reconstructive surgery and tissue expanders; and facial aesthetics products. The Company sells its products directly through itsÂ own sales subsidiaries in approximately 40 countries and, supplemented by independent distributors, in over 100 countries.Â Its products are sold to drug wholesalers, independent and chain drug stores, pharmacies, commercial optical chains, opticians, mass merchandisers, food stores, hospitals, group purchasing organizations, integrated direct hospital networks, ambulatory surgery centers, government purchasing agencies and medical practitioners. The Company also utilize distributors for its products in smaller international markets.Â The Company's competitors include Akorn, Inc., Alcon Laboratories, Inc./Novartis AG, Abbott Laboratories, Alimera Sciences, Inc., BauschÂ & Lomb, Inc., a division of Valeant, Genentech/Hoffmann La Roche AG, MerckÂ & Co., Pfizer Inc., Regeneron Pharmaceuticals, Inc. and Santen Seiyaku. Mentor and Sientra, Inc., or Sientra, a partner of Silimed, LifeCell Corporation, CR Bard Inc. The Company's operations are subject to federal, state, local and foreign environmental laws and regulations, including the U.S. Occupational Safety and Health Act, the U.S. Toxic Substances Control Act, the U.S. Resource Conservation and Recovery Act, Superfund Amendments and Reauthorization Act, Comprehensive Environmental Response, Compensation and Liability Act and other current and potential future federal, state or local regulations.

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