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Ferrari NV (LTS:0RDT) Cyclically Adjusted FCF per Share : €3.55 (As of Mar. 2025)


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What is Ferrari NV 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.

Ferrari NV's adjusted free cash flow per share for the three months ended in Mar. 2025 was €3.483. 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 €3.55 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Ferrari NV's average Cyclically Adjusted FCF Growth Rate was 26.00% 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.

As of today (2025-05-23), Ferrari NV's current stock price is €436.30. Ferrari NV's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was €3.55. Ferrari NV's Cyclically Adjusted Price-to-FCF of today is 122.90.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Ferrari NV was 160.29. The lowest was 104.58. And the median was 136.05.


Ferrari NV Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Ferrari NV'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.

Ferrari NV Cyclically Adjusted FCF per Share Chart

Ferrari NV 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 - - - 2.67 3.14

Ferrari NV 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 2.81 2.79 3.03 3.14 3.55

Competitive Comparison of Ferrari NV's Cyclically Adjusted FCF per Share

For the Auto Manufacturers subindustry, Ferrari NV'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.


Ferrari NV's Cyclically Adjusted Price-to-FCF Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, Ferrari NV's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


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Ferrari NV 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, Ferrari NV'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)
=3.483/122.5000*122.5000
=3.483

Current CPI (Mar. 2025) = 122.5000.

Ferrari NV Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 1.477 100.279 1.804
201509 0.184 100.000 0.225
201512 0.214 99.814 0.263
201603 0.235 99.600 0.289
201606 0.594 99.900 0.728
201609 0.926 100.100 1.133
201612 1.755 100.300 2.143
201703 0.360 101.000 0.437
201706 0.268 101.100 0.325
201709 0.731 101.200 0.885
201712 0.071 101.200 0.086
201803 0.468 101.800 0.563
201806 0.229 102.400 0.274
201809 0.441 102.600 0.527
201812 0.423 102.300 0.507
201903 1.323 102.800 1.577
201906 0.603 103.100 0.716
201909 0.711 102.900 0.846
201912 0.562 102.800 0.670
202003 0.480 102.900 0.571
202006 -1.077 102.900 -1.282
202009 0.393 102.300 0.471
202012 0.901 102.600 1.076
202103 0.668 103.700 0.789
202106 0.445 104.200 0.523
202109 1.166 104.900 1.362
202112 0.676 106.600 0.777
202203 1.535 110.400 1.703
202206 -0.057 112.500 -0.062
202209 1.121 114.200 1.202
202212 0.668 119.000 0.688
202303 1.338 118.800 1.380
202306 0.528 119.700 0.540
202309 1.634 120.300 1.664
202312 1.171 119.700 1.198
202403 1.718 120.200 1.751
202406 0.263 120.700 0.267
202409 2.013 121.200 2.035
202412 1.215 121.200 1.228
202503 3.483 122.500 3.483

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


Ferrari NV  (LTS:0RDT) 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=436.30/3.55
=122.90

* 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 Ferrari NV was 160.29. The lowest was 104.58. And the median was 136.05.


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.


Ferrari NV Cyclically Adjusted FCF per Share Related Terms

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


Ferrari NV Business Description

Industry
Address
Via Abetone Inferiore n. 4, Maranello, ITA, I-41053
Ferrari designs, engineers, and manufactures some of the world's most expensive luxury cars. With supply carefully controlled to be below demand and a brand steeped in decades of motor racing history, a Ferrari is viewed as a status symbol. In 2024, the company sold 13,752 vehicles at an average price over EUR 480,000 with more than 70% of its vehicles being sold to existing Ferrari clients. Eighty-six percent of revenue is generated from the sale of cars and spare parts and 10% from sponsorship, commercial, and brand activities including racing and lifestyle activities. In 2024, the Europe, Middle East, and Africa region accounted for 47% of revenue, the Americas was 33%, mainland China, Hong Kong, and Taiwan was 8%, and the rest of Asia was 12%.

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