Mapletree Industrial Trust (FRA:M2L) Cyclically Adjusted FCF per Share : €0.11 (As of Mar. 2024)

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What is Mapletree Industrial Trust 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.

Mapletree Industrial Trust's adjusted free cash flow per share for the three months ended in Mar. 2024 was €0.039. 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 €0.11 for the trailing ten years ended in Mar. 2024.

During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 7.20% 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 Mapletree Industrial Trust was 7.20% per year. The lowest was 7.20% per year. And the median was 7.20% per year.

As of today (2024-06-20), Mapletree Industrial Trust's current stock price is €1.44. Mapletree Industrial Trust's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €0.11. Mapletree Industrial Trust's Cyclically Adjusted Price-to-FCF of today is 13.09.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Mapletree Industrial Trust was 23.85. The lowest was 13.03. And the median was 17.10.

Mapletree Industrial Trust Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Mapletree Industrial Trust'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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Mapletree Industrial Trust Cyclically Adjusted FCF per Share Chart

Mapletree Industrial Trust Annual Data

Trend

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Cyclically Adjusted FCF per Share

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0.10

0.08

0.10

0.11

Mapletree Industrial 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 FCF per Share	Get a 7-Day Free Trial															0.11	0.11	0.11	0.11	0.11

Competitive Comparison of Mapletree Industrial Trust's Cyclically Adjusted FCF per Share

For the REIT - Industrial subindustry, Mapletree Industrial 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.

Mapletree Industrial Trust's Cyclically Adjusted Price-to-FCF Distribution in the REITs Industry

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

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

Mapletree Industrial Trust 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, Mapletree Industrial 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)
	=	0.039	/	131.7762	*	131.7762
	=	0.039

Current CPI (Mar. 2024) = 131.7762.

Mapletree Industrial Trust Quarterly Data

	Free Cash Flow per Share	CPI	Adj_FreeCashFlowPerShare
201406	0.020	100.560	0.026
201409	0.018	100.428	0.024
201412	0.017	99.070	0.023
201503	0.020	99.621	0.026
201506	0.020	100.684	0.026
201509	0.020	100.392	0.026
201512	0.020	99.792	0.026
201603	0.021	100.470	0.028
201606	0.021	101.688	0.027
201609	0.021	101.861	0.027
201612	0.023	101.863	0.030
201703	0.020	102.862	0.026
201706	0.019	103.349	0.024
201709	0.021	104.136	0.027
201712	0.026	104.011	0.033
201803	0.018	105.290	0.023
201806	0.018	106.317	0.022
201809	0.022	106.507	0.027
201812	0.022	105.998	0.027
201903	0.021	107.251	0.026
201906	0.020	108.070	0.024
201909	0.024	108.329	0.029
201912	0.022	108.420	0.027
202003	0.023	108.902	0.028
202006	0.012	108.767	0.015
202009	0.025	109.815	0.030
202012	0.028	109.897	0.034
202103	0.003	111.754	0.004
202106	0.010	114.631	0.011
202109	0.048	115.734	0.055
202112	0.031	117.630	0.035
202203	0.033	121.301	0.036
202206	0.022	125.017	0.023
202209	0.034	125.227	0.036
202212	0.026	125.222	0.027
202303	0.034	127.348	0.035
202306	0.023	128.729	0.024
202309	0.019	129.860	0.019
202312	0.025	129.419	0.025
202403	0.039	131.776	0.039

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

Mapletree Industrial Trust (FRA:M2L) 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.

Mapletree Industrial Trust's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF	=	Share Price	/	Cyclically Adjusted FCF per Share
	=	1.44	/	0.11
	=	13.09

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Mapletree Industrial Trust was 23.85. The lowest was 13.03. And the median was 17.10.

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.

Mapletree Industrial Trust Cyclically Adjusted FCF per Share Related Terms

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

Mapletree Industrial Trust (FRA:M2L) Business Description

Industry

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MAPIF:USA ME8U:Singapore

Address

10 Pasir Panjang Road, No. 13-01, Mapletree Business City, Singapore, SGP, 117438

Website

https://www.mapletreeindustrialtrust.com

Mapletree Industrial Trust is a real estate investment trust focusing on industrial properties and data centers. Its property portfolio consists of 85 properties in Singapore and 56 properties in North America (including 13 data centers held through a joint venture with its sponsor, Mapletree Investments Private Limited). Types of property owned includes data centers, high-tech buildings, business parks and general industrial. The trust is externally managed by Mapletree Industrial Trust Management Limited, a subsidiary of its sponsor, which owns around 31% stake in the trust.

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