VGI PCL (BKK:VGI-R) Cyclically Adjusted Price-to-FCF: 41.50 (As of Aug. 16, 2026) — 33% Below Median

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Director of Data and Quant Analytics at GuruFocus
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Founder & CEO of GuruFocus
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BKK:VGI-R VGI PCL BKK:VGI-R
62 GF Score
Price ฿0.83
GF Value ฿0.95
! 4 Warning Signs
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What is VGI PCL Cyclically Adjusted Price-to-FCF?

VGI PCL BKK:VGI-R 62 Cyclically Adjusted Price-to-FCF is 41.50 as of Aug. 16, 2026, which is 33% below its 10-year median of 62.20. GuruFocus rates BKK:VGI-R with a GF Score™ of 62/100 and a GF Value™ of ฿0.95. The stock has 4 warning signs investors should review. Among 225 Conglomerates companies, VGI PCL ranks worse than 82.67% on this metric.

As of today (2026-08-16), VGI PCL's current share price is ฿0.83. VGI PCL's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2026 was ฿0.02. VGI PCL's Cyclically Adjusted Price-to-FCF for today is 41.50.

The historical rank and industry rank for VGI PCL's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

BKK:VGI-R' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 32   Med: 62.2   Max: 115.33
Current: 49.31

During the past years, VGI PCL's highest Cyclically Adjusted Price-to-FCF was 115.33. The lowest was 32.00. And the median was 62.20.

BKK:VGI-R's Cyclically Adjusted Price-to-FCF is ranked worse than
82.67% of 225 companies
in the Conglomerates industry
Industry Median: 16.72 vs BKK:VGI-R: 49.31

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.

VGI PCL's adjusted free cash flow per share data for the three months ended in Mar. 2026 was ฿-0.010. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is ฿0.02 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


VGI PCL  (BKK:VGI-R) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


VGI PCL Cyclically Adjusted Price-to-FCF Related Terms


VGI PCL Cyclically Adjusted Price-to-FCF Historical Data

* Premium members only.

The historical data trend for VGI PCL's Cyclically Adjusted Price-to-FCF 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.

VGI PCL Cyclically Adjusted Price-to-FCF Chart

VGI PCL Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 71.52 58.11 40.88 94.42 46.33

VGI PCL Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted Price-to-FCF 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 94.42 79.53 0.00 47.81 46.33

BKK:VGI-R vs MMM, HON: Cyclically Adjusted Price-to-FCF Comparison

For the Conglomerates subindustry, VGI PCL'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.


VGI PCL Cyclically Adjusted Price-to-FCF vs Conglomerates Industry

For the Conglomerates industry and Industrials sector, VGI PCL's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


BKK:VGI-R
62GF Score
VGI PCL BKK:VGI-R
Cyclically Adjusted Price-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

VGI PCL Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

VGI PCL's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=0.83/0.02
=41.50

* 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.

VGI PCL's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, VGI PCL's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2026 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=-0.01/330.2130*330.2130
=-0.010

Current CPI (Mar. 2026) = 330.2130.

VGI PCL Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201606 0.020 241.018 0.027
201609 0.023 241.428 0.031
201612 0.017 241.432 0.023
201703 0.031 243.801 0.042
201706 0.003 244.955 0.004
201709 0.035 246.819 0.047
201712 0.026 246.524 0.035
201803 0.049 249.554 0.065
201806 0.040 251.989 0.052
201809 0.012 252.439 0.016
201812 0.034 251.233 0.045
201903 0.049 254.202 0.064
201906 -0.011 256.143 -0.014
201909 0.012 256.759 0.015
201912 0.024 256.974 0.031
202003 0.035 258.115 0.045
202006 0.006 257.797 0.008
202009 -0.017 260.280 -0.022
202012 -0.002 260.474 -0.003
202103 -0.014 264.877 -0.017
202106 0.014 271.696 0.017
202109 -0.052 274.310 -0.063
202112 -0.025 278.802 -0.030
202203 -0.005 287.504 -0.006
202206 0.002 296.311 0.002
202209 -0.029 296.808 -0.032
202212 -0.020 296.797 -0.022
202303 0.010 301.836 0.011
202306 -0.025 305.109 -0.027
202309 -0.069 307.789 -0.074
202312 -0.049 306.746 -0.053
202403 0.004 312.332 0.004
202406 -0.008 314.175 -0.008
202409 0.005 315.301 0.005
202412 -0.005 315.605 -0.005
202503 0.009 319.799 0.009
202506 -0.007 322.561 -0.007
202509 0.000 324.800 0.000
202512 -0.010 324.054 -0.010
202603 -0.010 330.213 -0.010

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

What does a Cyclically Adjusted Price-to-FCF of 41.50 mean?
VGI PCL (BKK:VGI-R) has a Cyclically Adjusted Price-to-FCF of 41.50 as of Aug. 16, 2026. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on VGI PCL and its competitors. This is 33% below median its historical median of 62.20. Over the past decade, VGI PCL's Cyclically Adjusted Price-to-FCF has ranged from 32.00 to 115.33. According to the industry distribution chart, VGI PCL ranks #186 out of 225 companies in the Conglomerates industry, placing it in the top 82.7%.
Is VGI PCL's Cyclically Adjusted Price-to-FCF too high?
VGI PCL's current Cyclically Adjusted Price-to-FCF of 41.50 is 33% below median its 10-year median of 62.20. Over the past 10 years, this metric has ranged from a low of 32.00 to a high of 115.33. The Conglomerates industry median Cyclically Adjusted Price-to-FCF is 16.72. VGI PCL's value of 41.50 is 148.2% above this industry median. Based on the distribution chart, VGI PCL ranks #186 out of 225 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, VGI PCL has a GF Score™ of 62/100, reflecting its overall financial health beyond just this single metric.
How does VGI PCL's Cyclically Adjusted Price-to-FCF compare to MMM and HON?
According to the Conglomerates industry distribution chart, VGI PCL ranks #186 out of 225 companies for Cyclically Adjusted Price-to-FCF. This places VGI PCL in the lower half of its industry. The industry median Cyclically Adjusted Price-to-FCF is 16.72. VGI PCL's value of 41.50 is 148.2% above this benchmark. Historically, VGI PCL's own Cyclically Adjusted Price-to-FCF has ranged from 32.00 to 115.33 over the past decade. While the company's 10-year median is 62.20 vs. the industry median of 16.72, VGI PCL has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Price-to-FCF for a Conglomerates company?
The median Cyclically Adjusted Price-to-FCF among Conglomerates companies is 16.72, based on 225 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted Price-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted Price-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. VGI PCL's current Cyclically Adjusted Price-to-FCF of 41.50 is 148.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Price-to-FCF mean?
A high Cyclically Adjusted Price-to-FCF can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on VGI PCL and its competitors. For the Conglomerates industry, the median Cyclically Adjusted Price-to-FCF is 16.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. VGI PCL's current Cyclically Adjusted Price-to-FCF is 41.50, which is 33% below median its own 10-year median of 62.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is VGI PCL stock overvalued right now?
VGI PCL (BKK:VGI-R) has a current Cyclically Adjusted Price-to-FCF of 41.50. The stock's GF Value™ is ฿0.95, compared to a current price of ฿0.83 — trading 12.6% below its estimated fair value. The current Cyclically Adjusted Price-to-FCF is 41.50, which is 33% below median its 10-year median of 62.20 and 148.2% above the Conglomerates industry median of 16.72. VGI PCL's overall GF Score™ is 62/100 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 Price-to-FCF calculated?
Cyclically Adjusted Price-to-FCF is calculated from a company's financial statements. For VGI PCL (BKK:VGI-R), the current Cyclically Adjusted Price-to-FCF is 41.50 as of Aug. 16, 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 VGI PCL (BKK:VGI-R) Overvalued in 2026?

Based on GuruFocus' analysis, VGI PCL stock appears to be undervalued. The current stock price of ฿0.83 is trading 12.6% below its estimated GF Value™ of ฿0.95.

Key valuation signals for BKK:VGI-R:

  • Cyclically Adjusted Price-to-FCF: 41.50 (33% below median its 10-year median of 62.20)
  • GF Value™: ฿0.95 vs. price of ฿0.83 (12.6% below fair value)
  • GF Score™: 62/100 with 4 warning signs
  • Industry Position: 148.2% above the Conglomerates median (#186 of 225)

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


VGI PCL Business Description

Other Exchanges VGI:Thailand
Address Phahonyothin Road, 1000/9, BTS Visionary Park - South Tower, 27th Floor, Chomphon Sub-district, Chatuchak District, Bangkok, THA, 10900
VGI PCL is principally engaged in the arrangement and provision of advertising services in BTS stations, inside BTS trains, on BTS train bodies, in office buildings, and other spaces and the rental at BTS stations.is organised into business units based on the services it provides, and there are four reportable segments as follows: the Transit segment, the Digital service segment, the Distribution segment, and the Other segment. The majority of the revenue is derived from the Transit segment, which provision of advertising services in BTS stations, inside BTS trains, on BTS train bodies, on BTS Column and the rental of retail space at BTS stations. Geographically, the company operates in Thailand.
62GF Score

Get the complete analysis for BKK:VGI-R

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

฿0.83
Price
฿0.95
GF Value