CALBEE (TSE:2229) Cyclically Adjusted FCF per Share: 円82.05 (As of Jun. 2026)

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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2229 CALBEE Inc TSE:2229
89 GF Score
Price 円3,059.00
GF Value 円3,297.43
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is CALBEE Cyclically Adjusted FCF per Share?

CALBEE TSE:2229 +1.90% 89 Cyclically Adjusted FCF per Share is 円82.05 as of Jun. 2026. GuruFocus rates TSE:2229 with a GF Score™ of 89/100 and a GF Value™ of 円3,297.43 (Fairly Valued). The stock has 4 warning signs investors should review.

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.

CALBEE's adjusted free cash flow per share for the three months ended in Jun. 2026 was 円13.001. 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 円82.05 for the trailing ten years ended in Jun. 2026.

During the past 12 months, CALBEE's average Cyclically Adjusted FCF Growth Rate was 4.50% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was -1.80% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was -4.40% 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 CALBEE was -1.80% per year. The lowest was -9.00% per year. And the median was -8.60% per year.

As of today (2026-09-09), CALBEE's current stock price is 円3059.00. CALBEE's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2026 was 円82.05. CALBEE's Cyclically Adjusted Price-to-FCF of today is 37.28.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of CALBEE was 53.13. The lowest was 23.75. And the median was 35.02.


CALBEE  (TSE:2229) 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.

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

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=3059.00/82.05
=37.28

* 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 CALBEE was 53.13. The lowest was 23.75. And the median was 35.02.


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.


CALBEE Cyclically Adjusted FCF per Share Related Terms


CALBEE Cyclically Adjusted FCF per Share Historical Data

* Premium members only.

The historical data trend for CALBEE'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.

CALBEE Cyclically Adjusted FCF per Share Chart

CALBEE Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 97.68 86.96 69.40 73.68 82.32

CALBEE Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 78.52 78.75 70.43 82.32 82.05

TSE:2229 vs KHC, GIS: Cyclically Adjusted FCF per Share Comparison

For the Packaged Foods subindustry, CALBEE'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.


CALBEE Cyclically Adjusted Price-to-FCF vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, CALBEE's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


TSE:2229
89GF Score
CALBEE Inc TSE:2229
Cyclically Adjusted FCF per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CALBEE 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, CALBEE's adjusted Free Cash Flow per Share data for the three months ended in Jun. 2026 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=13.001/113.6000*113.6000
=13.001

Current CPI (Jun. 2026) = 113.6000.

CALBEE Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201609 18.143 98.000 21.031
201612 -97.562 98.400 -112.633
201703 181.232 98.100 209.867
201706 -14.550 98.500 -16.781
201709 -73.149 98.800 -84.107
201712 -34.264 99.400 -39.159
201803 109.808 99.200 125.748
201806 17.066 99.200 19.543
201809 27.725 99.900 31.527
201812 -18.503 99.700 -21.083
201903 105.942 99.700 120.712
201906 24.226 99.800 27.576
201909 132.998 100.100 150.935
201912 -102.772 100.500 -116.168
202003 180.782 100.300 204.754
202006 30.185 99.900 34.324
202009 43.052 99.900 48.956
202012 -113.305 99.300 -129.622
202103 183.065 99.900 208.170
202106 8.987 99.500 10.261
202109 34.693 100.100 39.372
202112 -154.314 100.100 -175.126
202203 180.638 101.100 202.972
202206 15.745 101.800 17.570
202209 10.726 103.100 11.818
202212 -176.405 104.100 -192.503
202303 93.877 104.400 102.150
202306 11.078 105.200 11.963
202309 -44.339 106.200 -47.429
202312 -143.931 106.800 -153.095
202403 122.463 107.200 129.774
202406 -27.814 108.200 -29.202
202409 60.081 108.900 62.674
202412 -197.963 110.700 -203.149
202503 242.431 111.100 247.886
202506 2.073 111.700 2.108
202509 10.580 112.000 10.731
202512 -182.359 113.000 -183.327
202603 256.458 112.700 258.506
202606 13.001 113.600 13.001

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

What does a Cyclically Adjusted FCF per Share of 円82.05 mean?
CALBEE (TSE:2229) has a Cyclically Adjusted FCF per Share of 円82.05 as of Jun. 2026. Cyclically Adjusted FCF per Share represents the company's inflation-adjusted FCF per share over a 10-year period. View historical data on CALBEE and its competitors.
Is CALBEE's Cyclically Adjusted FCF per Share too high?
CALBEE's current Cyclically Adjusted FCF per Share is 円82.05. Overall, CALBEE has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CALBEE's Cyclically Adjusted FCF per Share compare to KHC and GIS?
CALBEE's Cyclically Adjusted FCF per Share of 円82.05 can be compared against companies in the Consumer Packaged Goods industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted FCF per Share for a Consumer Packaged Goods company?
A good Cyclically Adjusted FCF per Share depends on the Consumer Packaged Goods industry context. However, Cyclically Adjusted FCF per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted FCF per Share mean?
A high Cyclically Adjusted FCF per Share can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted FCF per Share represents the company's inflation-adjusted FCF per share over a 10-year period. View historical data on CALBEE and its competitors. CALBEE's current Cyclically Adjusted FCF per Share is 円82.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CALBEE stock overvalued right now?
Based on GuruFocus' analysis, CALBEE (TSE:2229) is currently considered Fairly Valued. The stock's GF Value™ is 円3,297.43, compared to a current price of 円3,059.00 — trading 7.2% below its estimated fair value. The current Cyclically Adjusted FCF per Share is 円82.05. CALBEE's overall GF Score™ is 89/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted FCF per Share calculated?
Cyclically Adjusted FCF per Share is calculated from a company's financial statements. For CALBEE (TSE:2229), the current Cyclically Adjusted FCF per Share is 円82.05 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is CALBEE (TSE:2229) Overvalued in 2026?

Based on GuruFocus' analysis, CALBEE stock appears to be undervalued. The current stock price of 円3,059.00 is trading 7.2% below its estimated GF Value™ of 円3,297.43. GuruFocus considers CALBEE to be Fairly Valued.

Key valuation signals for TSE:2229:

  • Cyclically Adjusted FCF per Share: 円82.05
  • GF Value™: 円3,297.43 vs. price of 円3,059.00 (7.2% below fair value)
  • GF Score™: 89/100 with 4 warning signs

No single metric tells the full story. See the TSE:2229 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CALBEE Business Description

Other Exchanges CLBEY:USA9CB:Germany
Address 1-8-3 Marunouchi, 22nd Floor, Marunouchi Trust Tower Main Building, Chiyoda-ku, Tokyo, JPN, 100-0005
Calbee Inc is engaged in the manufacture and sale of food products. The company operates a single reportable segment, the food manufacturing and sales business, which includes the production and distribution of snacks, cereals, and other related food items. It conducts business activities in Japan and overseas.
89GF Score

Get the complete analysis for TSE:2229

Cyclically Adjusted FCF per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円3,059.00
Price
円3,297.43
GF Value