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Thermo Fisher Scientific (WBO:TMOF) Cyclically Adjusted FCF per Share : €12.48 (As of Mar. 2024)


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What is Thermo Fisher Scientific 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.

Thermo Fisher Scientific's adjusted free cash flow per share for the three months ended in Mar. 2024 was €2.166. 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 €12.48 for the trailing ten years ended in Mar. 2024.

During the past 12 months, Thermo Fisher Scientific's average Cyclically Adjusted FCF Growth Rate was 13.50% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 18.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 18.50% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 15.90% 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 Thermo Fisher Scientific was 55.80% per year. The lowest was -12.90% per year. And the median was 14.90% per year.

As of today (2024-05-15), Thermo Fisher Scientific's current stock price is €548.20. Thermo Fisher Scientific's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €12.48. Thermo Fisher Scientific's Cyclically Adjusted Price-to-FCF of today is 43.93.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Thermo Fisher Scientific was 69.70. The lowest was 29.05. And the median was 40.73.


Thermo Fisher Scientific Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Thermo Fisher Scientific'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.

Thermo Fisher Scientific Cyclically Adjusted FCF per Share Chart

Thermo Fisher Scientific Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.07 6.67 8.81 11.21 12.17

Thermo Fisher Scientific Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 10.95 11.26 12.16 12.17 12.48

Competitive Comparison of Thermo Fisher Scientific's Cyclically Adjusted FCF per Share

For the Diagnostics & Research subindustry, Thermo Fisher Scientific'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.


Thermo Fisher Scientific's Cyclically Adjusted Price-to-FCF Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Thermo Fisher Scientific's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Thermo Fisher Scientific 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, Thermo Fisher Scientific's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2024 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=2.166/129.4194*129.4194
=2.166

Current CPI (Mar. 2024) = 129.4194.

Thermo Fisher Scientific Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 1.485 100.560 1.911
201409 1.125 100.428 1.450
201412 1.600 99.070 2.090
201503 -0.040 99.621 -0.052
201506 1.486 100.684 1.910
201509 1.425 100.392 1.837
201512 2.788 99.792 3.616
201603 0.495 100.470 0.638
201606 1.792 101.688 2.281
201609 1.622 101.861 2.061
201612 2.569 101.863 3.264
201703 0.636 102.862 0.800
201706 1.723 103.349 2.158
201709 1.714 104.136 2.130
201712 3.453 104.011 4.297
201803 -0.080 105.290 -0.098
201806 2.659 106.317 3.237
201809 2.210 106.507 2.685
201812 3.284 105.998 4.010
201903 0.984 107.251 1.187
201906 2.359 108.070 2.825
201909 2.025 108.329 2.419
201912 3.627 108.420 4.329
202003 0.233 108.902 0.277
202006 3.608 108.767 4.293
202009 4.983 109.815 5.873
202012 5.672 109.897 6.680
202103 2.856 111.754 3.307
202106 3.536 114.631 3.992
202109 4.552 115.734 5.090
202112 3.625 117.630 3.988
202203 3.591 121.301 3.831
202206 2.454 125.017 2.540
202209 3.554 125.227 3.673
202212 7.073 125.222 7.310
202303 0.652 127.348 0.663
202306 2.988 128.729 3.004
202309 5.028 129.860 5.011
202312 7.842 129.419 7.842
202403 2.166 129.419 2.166

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


Thermo Fisher Scientific  (WBO:TMOF) 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.

Thermo Fisher Scientific's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=548.20/12.48
=43.93

* 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 Thermo Fisher Scientific was 69.70. The lowest was 29.05. And the median was 40.73.


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.


Thermo Fisher Scientific Cyclically Adjusted FCF per Share Related Terms

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


Thermo Fisher Scientific (WBO:TMOF) Business Description

Address
168 Third Avenue, Waltham, MA, USA, 02451
Thermo Fisher Scientific sells scientific instruments and laboratory equipment, diagnostics consumables, and life science reagents. The firm operates through four segments as of mid-2023 (revenue figures include some cross-segment revenue): analytical technologies (16% of sales); specialty diagnostic products (10%); life science solutions (24%); and lab products and services, which includes CRO services (54%).

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