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Calamos Asset Management (FRA:FND) Cyclically Adjusted Price-to-FCF : (As of May. 26, 2024)


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What is Calamos Asset Management Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


Calamos Asset Management Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Calamos Asset Management'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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Calamos Asset Management Cyclically Adjusted Price-to-FCF Chart

Calamos Asset Management Annual Data
Trend Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15
Cyclically Adjusted Price-to-FCF
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Calamos Asset Management Quarterly Data
Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16
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Competitive Comparison of Calamos Asset Management's Cyclically Adjusted Price-to-FCF

For the Asset Management subindustry, Calamos Asset Management'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.


Calamos Asset Management's Cyclically Adjusted Price-to-FCF Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Calamos Asset Management's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Calamos Asset Management 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.

Calamos Asset Management's Cyclically Adjusted FCF per Share for the quarter that ended in Sep. 2016 is calculated as:

For example, Calamos Asset Management's adjusted Free Cash Flow per Share data for the three months ended in Sep. 2016 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Sep. 2016 (Change)*Current CPI (Sep. 2016)
=0.754/101.8610*101.8610
=0.754

Current CPI (Sep. 2016) = 101.8610.

Calamos Asset Management Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
200612 0.508 85.142 0.608
200703 0.310 86.640 0.364
200706 0.452 87.906 0.524
200709 0.324 87.964 0.375
200712 0.456 88.616 0.524
200803 0.117 90.090 0.132
200806 0.365 92.320 0.403
200809 0.318 92.307 0.351
200812 0.027 88.697 0.031
200903 0.836 89.744 0.949
200906 1.330 91.003 1.489
200909 0.704 91.120 0.787
200912 2.036 91.111 2.276
201003 0.755 91.821 0.838
201006 1.665 91.962 1.844
201009 1.385 92.162 1.531
201012 1.667 92.474 1.836
201103 0.708 94.283 0.765
201106 1.561 95.235 1.670
201109 1.497 95.727 1.593
201112 1.589 95.213 1.700
201203 0.480 96.783 0.505
201206 1.568 96.819 1.650
201209 1.341 97.633 1.399
201212 1.395 96.871 1.467
201303 0.285 98.209 0.296
201306 1.058 98.518 1.094
201309 0.862 98.790 0.889
201312 1.523 98.326 1.578
201403 -0.046 99.695 -0.047
201406 1.069 100.560 1.083
201409 0.942 100.428 0.955
201412 1.366 99.070 1.404
201503 -0.888 99.621 -0.908
201506 0.993 100.684 1.005
201509 0.806 100.392 0.818
201512 0.992 99.792 1.013
201603 -0.738 100.470 -0.748
201606 0.686 101.688 0.687
201609 0.754 101.861 0.754

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.


Calamos Asset Management  (FRA:FND) 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.


Calamos Asset Management Cyclically Adjusted Price-to-FCF Related Terms

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Calamos Asset Management (FRA:FND) Business Description

Traded in Other Exchanges
N/A
Address
Calamos Asset Management Inc is a Delaware corporation, incorporated on July 23, 2004. It is an asset management firm that offers strategies to fulfill a range of asset allocation goals through a multi-team platform. The Company together with its subsidiaries provides investment advisory services to individuals and institutional investors through open-end funds, closed-end funds, separate accounts, offshore funds and partnerships. The company applies an investment philosophy and proprietary process centered on risk management across a range of investment strategies, including equity, balanced, convertible, high yield, alternative, fixed income and money market investments. The Company currently offers four types of investment products that fall into the categories of mutual funds and separate accounts. Funds include its open-end and closed-end funds as well as its Offshore Funds. The Company includes the Offshore Funds in open-end funds for reporting purposes. Separate accounts are individual portfolios of securities managed to meet clients specific needs and include institutional accounts and managed accounts. The Company competes in all aspects of its business with a large number of investment management firms, commercial banks, broker-dealers and insurance companies. In the United States and other countries in which it does business, it is subject to regulations and laws at both a federal and state level, including U.S. federal, state and local tax laws as well as similar foreign jurisdiction tax laws.