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Kao (FRA:KAO) Cyclically Adjusted FCF per Share : €1.59 (As of Mar. 2025)


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What is Kao 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.

Kao's adjusted free cash flow per share for the three months ended in Mar. 2025 was €-0.405. 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 €1.59 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Kao's average Cyclically Adjusted FCF Growth Rate was 7.50% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 4.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 3.20% 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 Kao was 4.00% per year. The lowest was 2.00% per year. And the median was 2.60% per year.

As of today (2025-05-22), Kao's current stock price is €38.23. Kao's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was €1.59. Kao's Cyclically Adjusted Price-to-FCF of today is 24.04.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Kao was 45.55. The lowest was 20.64. And the median was 31.90.


Kao Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Kao'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.

* Premium members only.

Kao Cyclically Adjusted FCF per Share Chart

Kao Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.73 1.79 1.61 1.51 1.54

Kao Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted FCF per Share 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 1.44 1.39 1.57 1.54 1.59

Competitive Comparison of Kao's Cyclically Adjusted FCF per Share

For the Household & Personal Products subindustry, Kao'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.


Kao's Cyclically Adjusted Price-to-FCF Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Kao's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


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Kao Cyclically Adjusted FCF per Share Calculation

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, Kao's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=-0.405/111.1000*111.1000
=-0.405

Current CPI (Mar. 2025) = 111.1000.

Kao Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 0.528 98.400 0.596
201509 0.531 98.500 0.599
201512 0.742 98.100 0.840
201603 -0.329 97.900 -0.373
201606 0.574 98.100 0.650
201609 0.429 98.000 0.486
201612 1.104 98.400 1.246
201703 -0.320 98.100 -0.362
201706 0.613 98.500 0.691
201709 0.390 98.800 0.439
201712 0.787 99.400 0.880
201803 -0.332 99.200 -0.372
201806 0.677 99.200 0.758
201809 0.483 99.900 0.537
201812 0.893 99.700 0.995
201903 -0.299 99.700 -0.333
201906 0.877 99.800 0.976
201909 1.089 100.100 1.209
201912 0.945 100.500 1.045
202003 -0.296 100.300 -0.328
202006 0.852 99.900 0.948
202009 0.808 99.900 0.899
202012 1.050 99.300 1.175
202103 -0.306 99.900 -0.340
202106 0.740 99.500 0.826
202109 0.654 100.100 0.726
202112 0.595 100.100 0.660
202203 -0.423 101.100 -0.465
202206 0.183 101.800 0.200
202209 0.420 103.100 0.453
202212 0.600 104.100 0.640
202303 -0.275 104.400 -0.293
202306 0.673 105.200 0.711
202309 0.554 106.200 0.580
202312 0.901 106.800 0.937
202403 -0.214 107.200 -0.222
202406 0.629 108.200 0.646
202409 0.681 108.900 0.695
202412 0.674 110.700 0.676
202503 -0.405 111.100 -0.405

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


Kao  (FRA:KAO) 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.

Kao's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=38.23/1.59
=24.04

* 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 Kao was 45.55. The lowest was 20.64. And the median was 31.90.


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.


Kao Cyclically Adjusted FCF per Share Related Terms

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


Kao Business Description

Traded in Other Exchanges
Address
14-10, Nihonbashi Kayabacho 1-chome, Chuo-ku, Tokyo, JPN, 103-8210
Kao is the largest household and personal care product manufacturer in Japan with a footprint across Asia, Europe, and the Americas. Japan remains its largest market, contributing about 50% of sales and operating profits with several leading brands including Attack and Biore. Initially a soap producer established in the 1890s, Kao has expanded into cosmetics, disposable hygiene products, and chemicals, in addition to its home care and toiletry products. Asia, the largest overseas market contributes around 15% of group sales. Kao has also acquired several Western skin and haircare brands including Jergens, John Frieda, Curel, Molton Brown, and the latest, Oribe.

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