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Belle (PHS:BEL) Cyclically Adjusted FCF per Share : ₱0.34 (As of Mar. 2025)


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What is Belle 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.

Belle's adjusted free cash flow per share for the three months ended in Mar. 2025 was ₱0.102. 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 ₱0.34 for the trailing ten years ended in Mar. 2025.

During the past 12 months, Belle's average Cyclically Adjusted FCF Growth Rate was 9.70% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 22.60% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 14.90% 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 Belle was 23.60% per year. The lowest was 6.60% per year. And the median was 19.50% per year.

As of today (2025-06-26), Belle's current stock price is ₱1.57. Belle's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was ₱0.34. Belle's Cyclically Adjusted Price-to-FCF of today is 4.62.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Belle was 43.67. The lowest was 3.97. And the median was 7.14.


Belle Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Belle'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.

Belle Cyclically Adjusted FCF per Share Chart

Belle 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 0.17 0.19 0.23 0.29 0.35

Belle 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 0.31 0.32 0.33 0.35 0.34

Competitive Comparison of Belle's Cyclically Adjusted FCF per Share

For the Real Estate - Diversified subindustry, Belle'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.


Belle's Cyclically Adjusted Price-to-FCF Distribution in the Real Estate Industry

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

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


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Belle 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, Belle'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)
=0.102/134.9266*134.9266
=0.102

Current CPI (Mar. 2025) = 134.9266.

Belle Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 -0.122 100.684 -0.163
201509 -0.002 100.392 -0.003
201512 0.014 99.792 0.019
201603 -0.099 100.470 -0.133
201606 0.340 101.688 0.451
201609 0.022 101.861 0.029
201612 0.082 101.863 0.109
201703 0.076 102.862 0.100
201706 0.126 103.349 0.164
201709 0.117 104.136 0.152
201712 0.104 104.011 0.135
201803 0.090 105.290 0.115
201806 0.157 106.317 0.199
201809 0.150 106.507 0.190
201812 0.072 105.998 0.092
201903 0.125 107.251 0.157
201906 0.156 108.070 0.195
201909 0.122 108.329 0.152
201912 0.075 108.420 0.093
202003 0.072 108.902 0.089
202006 -0.017 108.767 -0.021
202009 -0.065 109.815 -0.080
202012 -0.038 109.897 -0.047
202103 -0.029 111.754 -0.035
202106 0.026 114.631 0.031
202109 0.078 115.734 0.091
202112 0.040 117.630 0.046
202203 0.014 121.301 0.016
202206 0.075 125.017 0.081
202209 0.084 125.227 0.091
202212 0.070 125.222 0.075
202303 0.070 127.348 0.074
202306 0.072 128.729 0.075
202309 0.133 129.860 0.138
202312 0.146 129.419 0.152
202403 0.101 131.776 0.103
202406 0.062 132.554 0.063
202409 0.110 133.029 0.112
202412 0.210 133.157 0.213
202503 0.102 134.927 0.102

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


Belle  (PHS:BEL) 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=1.57/0.34
=4.62

* 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 Belle was 43.67. The lowest was 3.97. And the median was 7.14.


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.


Belle Cyclically Adjusted FCF per Share Related Terms

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


Belle Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Belle Corp (PHS:BEL) » Definitions » Cyclically Adjusted FCF per Share
Traded in Other Exchanges
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Address
Palm Coast Avenue, 5th Floor, Tower A, Two E-com Center, Mall of Asia Complex, CBP-1A, Pasay, PHL, 1300
Belle Corporation is a high-end residential and leisure properties developer in the Philippines. The company's two operating segments are the real estate development and property management strategic unit, and the gaming and gaming-related activities business unit. Belle operates notable real estate assets such as City of Dreams Manila and the Tagaytay Highlands. In the gaming segment, its subsidiary generates revenue through activities such as leasing lottery and keno machines as well as operating casinos and resorts.

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