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Allergan (FRA:AG4) Cyclically Adjusted Price-to-FCF : (As of Jun. 22, 2024)


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What is Allergan Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


Allergan Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Allergan'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.

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Allergan Cyclically Adjusted Price-to-FCF Chart

Allergan Annual Data
Trend Dec05 Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14
Cyclically Adjusted Price-to-FCF
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Allergan Quarterly Data
Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14
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Competitive Comparison of Allergan's Cyclically Adjusted Price-to-FCF

For the Drug Manufacturers - Specialty & Generic subindustry, Allergan'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.


Allergan's Cyclically Adjusted Price-to-FCF Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Allergan's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Allergan 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.

Allergan's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2014 is calculated as:

For example, Allergan's adjusted Free Cash Flow per Share data for the three months ended in Dec. 2014 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Dec. 2014 (Change)*Current CPI (Dec. 2014)
=1.672/99.0697*99.0697
=1.672

Current CPI (Dec. 2014) = 99.0697.

Allergan Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
200503 0.218 81.555 0.265
200506 0.367 82.062 0.443
200509 0.223 83.876 0.263
200512 -0.109 83.032 -0.130
200603 0.249 84.298 0.293
200606 0.439 85.606 0.508
200609 0.414 85.606 0.479
200612 0.415 85.142 0.483
200703 0.181 86.640 0.207
200706 0.470 87.906 0.530
200709 0.486 87.964 0.547
200712 0.301 88.616 0.337
200803 0.009 90.090 0.010
200806 0.179 92.320 0.192
200809 0.370 92.307 0.397
200812 0.276 88.697 0.308
200903 0.242 89.744 0.267
200906 0.721 91.003 0.785
200909 0.706 91.120 0.768
200912 0.600 91.111 0.652
201003 0.379 91.821 0.409
201006 0.843 91.962 0.908
201009 0.674 92.162 0.725
201012 -1.020 92.474 -1.093
201103 0.270 94.283 0.284
201106 0.472 95.235 0.491
201109 0.678 95.727 0.702
201112 0.819 95.213 0.852
201203 0.450 96.783 0.461
201206 1.008 96.819 1.031
201209 1.059 97.633 1.075
201212 1.119 96.871 1.144
201303 0.248 98.209 0.250
201306 1.100 98.518 1.106
201309 1.346 98.790 1.350
201312 1.060 98.326 1.068
201403 0.290 99.695 0.288
201406 0.947 100.560 0.933
201409 1.304 100.428 1.286
201412 1.672 99.070 1.672

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.


Allergan  (FRA:AG4) 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.


Allergan Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Allergan's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Allergan (FRA:AG4) Business Description

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Traded in Other Exchanges
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Website
Allergan Inc incorporated in Delaware in 1977. It is a multi-specialty health care company. The Company is engaged in the developing and commercializing pharmaceuticals, biologics, medical devices and over-the-counter products that enable people to live life to its full potential - to see more clearly, move more freely and express themselves more fully. It offers products for the ophthalmic, neurological, medical aesthetics, medical dermatology, breast aesthetics, urological and other specialty markets in more than 100 countries around the world. It is also engaged in specialty pharmaceutical, biologic and medical device research and development. The Company's business segments are specialty pharmaceuticals and medical devices. The specialty pharmaceuticals segment produces pharmaceutical products, including: ophthalmic products for dry eye, glaucoma, inflammation, infection, allergy and retinal disease; Botox for certain therapeutic and aesthetic indications; skin care products for acne, psoriasis, eyelash growth and other prescription and over-the-counter skin care products; and urologics products. The medical devices segment produces medical devices, including: breast implants for augmentation, revision and reconstructive surgery and tissue expanders; and facial aesthetics products. The Company sells its products directly through its own sales subsidiaries in approximately 40 countries and, supplemented by independent distributors, in over 100 countries. Its products are sold to drug wholesalers, independent and chain drug stores, pharmacies, commercial optical chains, opticians, mass merchandisers, food stores, hospitals, group purchasing organizations, integrated direct hospital networks, ambulatory surgery centers, government purchasing agencies and medical practitioners. The Company also utilize distributors for its products in smaller international markets. The Company's competitors include Akorn, Inc., Alcon Laboratories, Inc./Novartis AG, Abbott Laboratories, Alimera Sciences, Inc., Bausch & Lomb, Inc., a division of Valeant, Genentech/Hoffmann La Roche AG, Merck & Co., Pfizer Inc., Regeneron Pharmaceuticals, Inc. and Santen Seiyaku. Mentor and Sientra, Inc., or Sientra, a partner of Silimed, LifeCell Corporation, CR Bard Inc. The Company's operations are subject to federal, state, local and foreign environmental laws and regulations, including the U.S. Occupational Safety and Health Act, the U.S. Toxic Substances Control Act, the U.S. Resource Conservation and Recovery Act, Superfund Amendments and Reauthorization Act, Comprehensive Environmental Response, Compensation and Liability Act and other current and potential future federal, state or local regulations.

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