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PSP Swiss Property AG (XSWX:PSPN) Cyclically Adjusted FCF per Share : CHF2.60 (As of Mar. 2025)


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What is PSP Swiss Property AG 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.

PSP Swiss Property AG's adjusted free cash flow per share for the three months ended in Mar. 2025 was CHF0.502. 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 CHF2.60 for the trailing ten years ended in Mar. 2025.

During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 5.90% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 7.30% 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 PSP Swiss Property AG was 10.10% per year. The lowest was 5.90% per year. And the median was 7.80% per year.

As of today (2025-05-30), PSP Swiss Property AG's current stock price is CHF144.70. PSP Swiss Property AG's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was CHF2.60. PSP Swiss Property AG's Cyclically Adjusted Price-to-FCF of today is 55.65.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of PSP Swiss Property AG was 81.32. The lowest was 37.52. And the median was 54.62.


PSP Swiss Property AG Cyclically Adjusted FCF per Share Historical Data

The historical data trend for PSP Swiss Property AG'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.

PSP Swiss Property AG Cyclically Adjusted FCF per Share Chart

PSP Swiss Property AG 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 2.02 2.19 2.52 2.58 2.60

PSP Swiss Property AG 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 2.60 2.56 2.54 2.60 2.60

Competitive Comparison of PSP Swiss Property AG's Cyclically Adjusted FCF per Share

For the Real Estate Services subindustry, PSP Swiss Property AG'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.


PSP Swiss Property AG's Cyclically Adjusted Price-to-FCF Distribution in the Real Estate Industry

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

* The bar in red indicates where PSP Swiss Property AG's Cyclically Adjusted Price-to-FCF falls into.


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PSP Swiss Property AG 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, PSP Swiss Property AG'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)
=0.502/107.7224*107.7224
=0.502

Current CPI (Mar. 2025) = 107.7224.

PSP Swiss Property AG Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 0.355 100.464 0.381
201509 0.670 99.785 0.723
201512 0.339 99.386 0.367
201603 0.324 99.475 0.351
201606 0.600 100.088 0.646
201609 0.760 99.604 0.822
201612 0.420 99.380 0.455
201703 -0.134 100.040 -0.144
201706 0.440 100.285 0.473
201709 1.241 100.254 1.333
201712 0.333 100.213 0.358
201803 0.062 100.836 0.066
201806 0.548 101.435 0.582
201809 1.138 101.246 1.211
201812 0.474 100.906 0.506
201903 0.171 101.571 0.181
201906 0.599 102.044 0.632
201909 0.863 101.396 0.917
201912 1.137 101.063 1.212
202003 -0.673 101.048 -0.717
202006 0.278 100.743 0.297
202009 1.033 100.585 1.106
202012 1.020 100.241 1.096
202103 0.856 100.800 0.915
202106 0.682 101.352 0.725
202109 0.784 101.533 0.832
202112 0.716 101.776 0.758
202203 1.786 103.205 1.864
202206 0.696 104.783 0.716
202209 0.670 104.835 0.688
202212 0.477 104.666 0.491
202303 0.184 106.245 0.187
202306 0.956 106.576 0.966
202309 1.026 106.570 1.037
202312 0.806 106.461 0.816
202403 0.814 107.355 0.817
202406 0.694 107.991 0.692
202409 0.410 107.468 0.411
202412 0.729 107.128 0.733
202503 0.502 107.722 0.502

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


PSP Swiss Property AG  (XSWX:PSPN) 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.

PSP Swiss Property AG's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=144.70/2.60
=55.65

* 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 PSP Swiss Property AG was 81.32. The lowest was 37.52. And the median was 54.62.


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.


PSP Swiss Property AG Cyclically Adjusted FCF per Share Related Terms

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


PSP Swiss Property AG Business Description

Industry
Traded in Other Exchanges
Address
Kolinplatz 2, Zug, CHE, CH-6300
PSP Swiss Property AG is a general real estate company, with all its properties active in Switzerland. The company's operating segments are Real estate investments, Property management, and Holding. A majority of its revenue is generated from the Real estate investments segment, which comprises all properties of the Group, such as investment properties, investment properties for sale, own-used properties, development properties, as well as development projects for sale. Income in this segment is generated by the properties mainly in the form of rental income and net changes in fair value. The Property management segment includes all services and activities concerning the management of the company's real estate portfolio, and the Holding segment includes the traditional corporate functions.

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