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Banca Sistema SpA (STU:B2S) Cyclically Adjusted FCF per Share : €0.15 (As of Mar. 2025)


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What is Banca Sistema SpA 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.

Banca Sistema SpA's adjusted free cash flow per share for the three months ended in Mar. 2025 was €0.899. 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 €0.15 for the trailing ten years ended in Mar. 2025.

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), Banca Sistema SpA's current stock price is €1.646. Banca Sistema SpA's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was €0.15. Banca Sistema SpA's Cyclically Adjusted Price-to-FCF of today is 10.97.

During the past 11 years, the highest Cyclically Adjusted Price-to-FCF of Banca Sistema SpA was 36.88. The lowest was 9.16. And the median was 24.68.


Banca Sistema SpA Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Banca Sistema SpA'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.

Banca Sistema SpA Cyclically Adjusted FCF per Share Chart

Banca Sistema SpA 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 - - - - 0.05

Banca Sistema SpA 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 - - 0.06 0.05 0.15

Competitive Comparison of Banca Sistema SpA's Cyclically Adjusted FCF per Share

For the Banks - Regional subindustry, Banca Sistema SpA'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.


Banca Sistema SpA's Cyclically Adjusted Price-to-FCF Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Banca Sistema SpA's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


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Banca Sistema SpA 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, Banca Sistema SpA'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)
=0.899/122.5000*122.5000
=0.899

Current CPI (Mar. 2025) = 122.5000.

Banca Sistema SpA Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 -0.454 100.279 -0.555
201509 -0.001 100.000 -0.001
201512 0.002 99.814 0.002
201603 -0.001 99.600 -0.001
201606 0.022 99.900 0.027
201609 0.001 100.100 0.001
201612 -0.001 100.300 -0.001
201703 0.000 101.000 0.000
201706 0.081 101.100 0.098
201709 0.000 101.200 0.000
201712 0.000 101.200 0.000
201803 0.002 101.800 0.002
201806 0.101 102.400 0.121
201809 0.002 102.600 0.002
201812 -0.017 102.300 -0.020
201903 -0.022 102.800 -0.026
201906 0.077 103.100 0.091
201909 0.006 102.900 0.007
201912 0.021 102.800 0.025
202003 0.000 102.900 0.000
202006 0.001 102.900 0.001
202009 0.075 102.300 0.090
202012 0.091 102.600 0.109
202103 -0.066 103.700 -0.078
202106 -0.583 104.200 -0.685
202109 -0.128 104.900 -0.149
202112 1.814 106.600 2.085
202203 0.563 110.400 0.625
202206 -1.805 112.500 -1.965
202209 0.983 114.200 1.054
202212 -0.263 119.000 -0.271
202303 -0.917 118.800 -0.946
202306 1.536 119.700 1.572
202309 -0.203 120.300 -0.207
202312 1.191 119.700 1.219
202403 -0.054 120.200 -0.055
202406 0.287 120.700 0.291
202409 -1.915 121.200 -1.936
202412 -0.081 121.200 -0.082
202503 0.899 122.500 0.899

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


Banca Sistema SpA  (STU:B2S) 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.

Banca Sistema SpA's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=1.646/0.15
=10.97

* 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 11 years, the highest Cyclically Adjusted Price-to-FCF of Banca Sistema SpA was 36.88. The lowest was 9.16. And the median was 24.68.


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.


Banca Sistema SpA Cyclically Adjusted FCF per Share Related Terms

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


Banca Sistema SpA Business Description

Industry
Traded in Other Exchanges
Address
Largo Augusto 1/A, At the corner of Via Verziere 13, Milan, ITA, 20122
Banca Sistema SpA provides factoring and banking services. It is specialized in the acquisition, management, and financing of receivables. The firm's products and services comprise current accounts, time deposits, funding for SMEs, non-recourse factoring, credit management, and payment services. Segment reporting of the company includes the following divisions: Factoring Division includes the business related to the origination of trade and tax receivables with and without recourse and the management. CQ Division, which includes the business related to the purchase of salary- and pension-backed loans. Collateralized Lending Division includes the business related to collateral-backed loans. Corporate Division includes activities related to the management of the Group's financial resources.

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