* 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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John Hancock Preferredome Fund III Cyclically Adjusted Price-to-FCF Chart
Competitive Comparison of John Hancock Preferredome Fund III's Cyclically Adjusted Price-to-FCF
For the Asset Management subindustry, John Hancock Preferredome Fund III'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.
John Hancock Preferredome Fund III's Cyclically Adjusted Price-to-FCF Distribution in the Asset Management Industry
For the Asset Management industry and Financial Services sector, John Hancock Preferredome Fund III's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where John Hancock Preferredome Fund III's Cyclically Adjusted Price-to-FCF falls into.
John Hancock Preferredome Fund III 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.
John Hancock Preferredome Fund III does not have a history long enough to calculate Cyclically Adjusted FCF per Share. Therefore GuruFocus does not calculate Cyclically Adjusted Price-to-FCF for this company.
John Hancock Preferredome Fund III (NYSE:HPS) 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.
John Hancock Preferredome Fund III Cyclically Adjusted Price-to-FCF Related Terms
Thank you for viewing the detailed overview of John Hancock Preferredome Fund III's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.
John Hancock Preferredome Fund III (John Hancock Preferredome Fund III) Business Description
John Hancock Preferred Income Fund III is a closed-end, diversified management investment company. Its investment objective is to provide a high level of current income consistent with preservation of capital. The fund's secondary investment objective is to provide growth of capital to the extent consistent with its primary investment objective. It seeks to achieve the objectives by investing a majority of its assets in preferred stocks and other preferred securities, including convertible preferred securities. The portfolio composition of the company consists of the U.S. preferred securities, foreign preferred securities, common stocks, corporate bonds, and the short-term investments.
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