GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Douglas Emmett Inc (FRA:D8K) » Definitions » Cyclically Adjusted Price-to-FCF

Douglas Emmett (FRA:D8K) Cyclically Adjusted Price-to-FCF : 9.31 (As of Jun. 13, 2024)


View and export this data going back to 2006. Start your Free Trial

What is Douglas Emmett Cyclically Adjusted Price-to-FCF?

As of today (2024-06-13), Douglas Emmett's current share price is €12.10. Douglas Emmett's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was €1.30. Douglas Emmett's Cyclically Adjusted Price-to-FCF for today is 9.31.

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

FRA:D8K' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 7.59   Med: 26.16   Max: 34.08
Current: 9.02

During the past years, Douglas Emmett's highest Cyclically Adjusted Price-to-FCF was 34.08. The lowest was 7.59. And the median was 26.16.

FRA:D8K's Cyclically Adjusted Price-to-FCF is ranked better than
64.01% of 389 companies
in the REITs industry
Industry Median: 11.27 vs FRA:D8K: 9.02

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.

Douglas Emmett's adjusted free cash flow per share data for the three months ended in Mar. 2024 was €0.447. 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 €1.30 for the trailing ten years ended in Mar. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


Douglas Emmett Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Douglas Emmett'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.

* Premium members only.

Douglas Emmett Cyclically Adjusted Price-to-FCF Chart

Douglas Emmett Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 33.01 23.63 26.38 11.29 10.26

Douglas Emmett Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 8.64 8.78 8.97 10.26 9.63

Competitive Comparison of Douglas Emmett's Cyclically Adjusted Price-to-FCF

For the REIT - Office subindustry, Douglas Emmett'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.


Douglas Emmett's Cyclically Adjusted Price-to-FCF Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Douglas Emmett's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Douglas Emmett 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.

Douglas Emmett's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=12.10/1.3
=9.31

* 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.

Douglas Emmett's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Douglas Emmett'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)
=0.447/131.7762*131.7762
=0.447

Current CPI (Mar. 2024) = 131.7762.

Douglas Emmett Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.153 100.560 0.200
201409 0.236 100.428 0.310
201412 0.162 99.070 0.215
201503 0.319 99.621 0.422
201506 0.266 100.684 0.348
201509 0.317 100.392 0.416
201512 0.254 99.792 0.335
201603 0.432 100.470 0.567
201606 0.307 101.688 0.398
201609 0.370 101.861 0.479
201612 0.188 101.863 0.243
201703 0.440 102.862 0.564
201706 0.292 103.349 0.372
201709 0.319 104.136 0.404
201712 0.224 104.011 0.284
201803 0.389 105.290 0.487
201806 0.176 106.317 0.218
201809 0.258 106.507 0.319
201812 0.093 105.998 0.116
201903 0.356 107.251 0.437
201906 0.233 108.070 0.284
201909 0.374 108.329 0.455
201912 0.233 108.420 0.283
202003 0.491 108.902 0.594
202006 0.070 108.767 0.085
202009 0.234 109.815 0.281
202012 -0.162 109.897 -0.194
202103 0.218 111.754 0.257
202106 0.078 114.631 0.090
202109 0.200 115.734 0.228
202112 0.254 117.630 0.285
202203 0.466 121.301 0.506
202206 0.263 125.017 0.277
202209 0.404 125.227 0.425
202212 0.265 125.222 0.279
202303 0.497 127.348 0.514
202306 0.148 128.729 0.152
202309 0.166 129.860 0.168
202312 0.254 129.419 0.259
202403 0.447 131.776 0.447

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.


Douglas Emmett  (FRA:D8K) 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.


Douglas Emmett Cyclically Adjusted Price-to-FCF Related Terms

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


Douglas Emmett (FRA:D8K) Business Description

Industry
Traded in Other Exchanges
Address
1299 Ocean Avenue, Suite 1000, Santa Monica, CA, USA, 90401
Douglas Emmett Inc is a real estate investment trust that acquires, develops, and manages office and multifamily properties in Los Angeles, California and Honolulu, Hawaii in the U.S. The company focuses on owning assets in communities with large supply constraints, such as the affluent neighborhoods of Los Angeles. The vast majority of Douglas Emmett's real estate portfolio is comprised of office buildings in Los Angeles. Most of these assets are located in the areas of Sherman Oaks, Woodland Hills, and Beverly Hills in terms of total square feet. Douglas Emmett derives nearly all of its income in the form of rental revenue from tenants. The vast majority of this also comes from its Los Angeles office buildings. The company's major tenants are legal, financial, and entertainment firms.

Douglas Emmett (FRA:D8K) Headlines

No Headlines