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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.
Immersion's adjusted free cash flow per share for the three months ended in Jan. 2025 was $-1.399. 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 $0.04 for the trailing ten years ended in Jan. 2025.
During the past 12 months, Immersion's average Cyclically Adjusted FCF Growth Rate was -87.90% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 44.20% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 35.10% 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 Immersion was 71.00% per year. The lowest was -23.40% per year. And the median was 28.10% per year.
As of today (2025-05-12), Immersion's current stock price is $7.55. Immersion's Cyclically Adjusted FCF per Share for the quarter that ended in Jan. 2025 was $0.04. Immersion's Cyclically Adjusted Price-to-FCF of today is 188.75.
During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Immersion was 1573.00. The lowest was 16.26. And the median was 65.31.
The historical data trend for Immersion'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.
Immersion Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Cyclically Adjusted FCF per Share | Get a 7-Day Free Trial |
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0.09 | 0.11 | 0.18 | 0.35 | 0.33 |
Immersion Quarterly Data | ||||||||||||||||||||
Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | Jun24 | Oct24 | Jan25 | |
Cyclically Adjusted FCF per Share | Get a 7-Day Free Trial |
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0.33 | 0.36 | 0.13 | - | 0.04 |
For the Software - Application subindustry, Immersion'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.
For the Software industry and Technology sector, Immersion's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where Immersion's Cyclically Adjusted Price-to-FCF falls into.
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, Immersion's adjusted Free Cash Flow per Share data for the three months ended in Jan. 2025 was:
Adj_FreeCashFlowPerShare | = | Free Cash Flow per Share | / | CPI of Jan. 2025 (Change) | * | Current CPI (Jan. 2025) |
= | -1.399 | / | 134.0288 | * | 134.0288 | |
= | -1.399 |
Current CPI (Jan. 2025) = 134.0288.
Immersion Quarterly Data
Free Cash Flow per Share | CPI | Adj_FreeCashFlowPerShare | |
201503 | 0.745 | 99.621 | 1.002 |
201506 | -0.254 | 100.684 | -0.338 |
201509 | -0.187 | 100.392 | -0.250 |
201512 | -0.079 | 99.792 | -0.106 |
201603 | -0.208 | 100.470 | -0.277 |
201606 | -0.197 | 101.688 | -0.260 |
201609 | 1.330 | 101.861 | 1.750 |
201612 | -0.196 | 101.863 | -0.258 |
201703 | -0.496 | 102.862 | -0.646 |
201706 | -0.481 | 103.349 | -0.624 |
201709 | -0.471 | 104.136 | -0.606 |
201712 | -0.059 | 104.011 | -0.076 |
201803 | 2.820 | 105.290 | 3.590 |
201806 | -0.140 | 106.317 | -0.176 |
201809 | -0.210 | 106.507 | -0.264 |
201812 | -0.178 | 105.998 | -0.225 |
201903 | -0.244 | 107.251 | -0.305 |
201906 | -0.517 | 108.070 | -0.641 |
201909 | -0.219 | 108.329 | -0.271 |
201912 | -0.106 | 108.420 | -0.131 |
202003 | -0.043 | 108.902 | -0.053 |
202006 | -0.125 | 108.767 | -0.154 |
202009 | 0.065 | 109.815 | 0.079 |
202012 | 0.106 | 109.897 | 0.129 |
202103 | 0.149 | 111.754 | 0.179 |
202106 | 0.148 | 114.631 | 0.173 |
202109 | 0.051 | 115.734 | 0.059 |
202112 | 0.191 | 117.630 | 0.218 |
202203 | 0.322 | 121.301 | 0.356 |
202206 | 0.226 | 125.017 | 0.242 |
202209 | 0.404 | 125.227 | 0.432 |
202212 | 0.245 | 125.222 | 0.262 |
202303 | 0.106 | 127.348 | 0.112 |
202306 | 0.159 | 128.729 | 0.166 |
202309 | 0.123 | 129.860 | 0.127 |
202312 | 0.241 | 129.419 | 0.250 |
202403 | 0.952 | 131.776 | 0.968 |
202406 | -2.642 | 132.554 | -2.671 |
202410 | 0.000 | 133.182 | 0.000 |
202501 | -1.399 | 134.029 | -1.399 |
Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.
Immersion (NAS:IMMR) 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.
Immersion's Cyclically Adjusted Price-to-FCF of today is calculated as
Cyclically Adjusted Price-to-FCF | = | Share Price | / | Cyclically Adjusted FCF per Share |
= | 7.55 | / | 0.04 | |
= | 188.75 |
* 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 Immersion was 1573.00. The lowest was 16.26. And the median was 65.31.
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.
Thank you for viewing the detailed overview of Immersion's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.
Eric Singer | 10 percent owner | 323 SUNNY ISLES BLVD., SUITE 700, SUNNY ISLES BEACH FL 33160 |
William C Martin | officer: Chief Strategy Officer | C/O RAGING CAPITAL MANAGEMENT, LLC, TEN PRINCETON AVENUE, PO BOX 228, ROCKY HILL NJ 08553 |
Childress Frederick Wasch | director | 330 TOWNSEND STREET, SUITE 234, SAN FRANCISCO CA 94107 |
J Michael Dodson | officer: Chief Financial Officer | 1220 N. SIMON CIRCLE, ANAHEIM CA 92806 |
Elias Nader | director | 1778 MCCARTHY BLVD., C/O SIGMA DESIGNS, INC., MILPITAS CA 95035 |
Aaron Akerman | officer: Chief Financial Officer | C/O IMMERSION CORPORATION, 50 RIO ROBLES, SAN JOSE CA 95134 |
Emily Hoffman | director | 2999 N.E. 191ST STREET, SUITE 610, AVENTURA FL 33180 |
Francis Jose | officer: General Counsel | 385 RIVER OAKS PARKWAY, APT # 2106, SAN JOSE CA 95134 |
Sumit Agarwal | director | C/O IMMERSION CORPORATION, 50 RIO ROBLES, SAN JOSE CA 95134 |
Mary Dotz | director | 280 N BERNARDO AVENUE, MOUNTAIN VIEW CA 94043 |
Jared Smith | officer: Interim CEO/VP Worldwide Sales | C/O IMMERSION CORPORATION, 50 RIO ROBLES, SAN JOSE CA 95134 |
Viex Special Opportunities Fund Ii, Lp | 10 percent owner | C/O VIEX CAPITAL ADVISORS, LLC, 825 THIRD AVENUE, 33RD FLOOR, NEW YORK NY 10022 |
Michael Rudolf Okada | officer: General Counsel | C/O IMMERSION CORPORATION, 50 RIO ROBLES, SAN JOSE CA 95134 |
Viex Opportunities Fund, Lp Series One | 10 percent owner | C/O VIEX CAPITAL ADVISORS, LLC, 825 THIRD AVENUE, 33RD FLOOR, NEW YORK NY 10022 |
Sharon E Holt | director | C/O IMMERSION CORPORATION, 50 RIO ROBLES, SAN JOSE CA 95134 |
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