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Equinor ASA (HAM:DNQ) Cyclically Adjusted FCF per Share : €2.30 (As of Sep. 2024)


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What is Equinor ASA 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.

Equinor ASA's adjusted free cash flow per share for the three months ended in Sep. 2024 was €1.289. 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 €2.30 for the trailing ten years ended in Sep. 2024.

During the past 12 months, Equinor ASA's average Cyclically Adjusted FCF Growth Rate was 18.90% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 71.90% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 55.30% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 17.10% 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 Equinor ASA was 71.90% per year. The lowest was -36.60% per year. And the median was -2.70% per year.

As of today (2024-10-31), Equinor ASA's current stock price is €22.785. Equinor ASA's Cyclically Adjusted FCF per Share for the quarter that ended in Sep. 2024 was €2.30. Equinor ASA's Cyclically Adjusted Price-to-FCF of today is 9.91.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Equinor ASA was 224.62. The lowest was 9.72. And the median was 32.01.


Equinor ASA Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Equinor ASA'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.

Equinor ASA Cyclically Adjusted FCF per Share Chart

Equinor ASA Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.42 0.44 0.96 1.68 2.12

Equinor ASA Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
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 2.06 2.12 2.19 2.24 2.30

Competitive Comparison of Equinor ASA's Cyclically Adjusted FCF per Share

For the Oil & Gas Integrated subindustry, Equinor ASA'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.


Equinor ASA's Cyclically Adjusted Price-to-FCF Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Equinor ASA's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Equinor ASA 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, Equinor ASA's adjusted Free Cash Flow per Share data for the three months ended in Sep. 2024 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Sep. 2024 (Change)*Current CPI (Sep. 2024)
=1.289/133.7000*133.7000
=1.289

Current CPI (Sep. 2024) = 133.7000.

Equinor ASA Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201412 -0.199 98.600 -0.270
201503 -0.065 99.200 -0.088
201506 -0.511 100.100 -0.683
201509 0.323 100.600 0.429
201512 -0.288 100.900 -0.382
201603 -0.174 102.500 -0.227
201606 -0.490 103.800 -0.631
201609 0.279 104.200 0.358
201612 -0.583 104.400 -0.747
201703 0.196 105.000 0.250
201706 0.469 105.800 0.593
201709 0.174 105.900 0.220
201712 0.431 106.100 0.543
201803 1.112 107.300 1.386
201806 0.059 108.500 0.073
201809 0.603 109.500 0.736
201812 0.319 109.800 0.388
201903 0.822 110.400 0.995
201906 -0.046 110.600 -0.056
201909 0.420 111.100 0.505
201912 -0.251 111.300 -0.302
202003 0.736 111.200 0.885
202006 -0.414 112.100 -0.494
202009 0.237 112.900 0.281
202012 -0.041 112.900 -0.049
202103 0.989 114.600 1.154
202106 1.248 115.300 1.447
202109 1.599 117.500 1.819
202112 1.614 118.900 1.815
202203 3.690 119.800 4.118
202206 2.014 122.600 2.196
202209 1.448 125.600 1.541
202212 0.568 125.900 0.603
202303 3.833 127.600 4.016
202306 -0.298 130.400 -0.306
202309 0.813 129.800 0.837
202312 -0.091 131.900 -0.092
202403 2.045 132.600 2.062
202406 -0.436 133.800 -0.436
202409 1.289 133.700 1.289

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


Equinor ASA  (HAM:DNQ) 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=22.785/2.3
=9.91

* 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 Equinor ASA was 224.62. The lowest was 9.72. And the median was 32.01.


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.


Equinor ASA Cyclically Adjusted FCF per Share Related Terms

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


Equinor ASA Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Equinor ASA (HAM:DNQ) » Definitions » Cyclically Adjusted FCF per Share
Address
Forusbeen 50, Stavanger, NOR, N-4035
Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2023 (53% liquids) and ended 2023 with 5.2 billion barrels of proven reserves (49% liquids). Operations also include offshore wind, solar, oil refineries and natural gas processing, marketing, and trading.

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