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National Refinery (KAR:NRL) Cyclically Adjusted Price-to-FCF : (As of Jul. 01, 2025)


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What is National Refinery Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


National Refinery Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for National Refinery'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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National Refinery Cyclically Adjusted Price-to-FCF Chart

National Refinery Annual Data
Trend Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24
Cyclically Adjusted Price-to-FCF
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National Refinery Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
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Competitive Comparison of National Refinery's Cyclically Adjusted Price-to-FCF

For the Oil & Gas Refining & Marketing subindustry, National Refinery'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.


National Refinery's Cyclically Adjusted Price-to-FCF Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, National Refinery's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


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National Refinery 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.

National Refinery's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, National Refinery's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=-39.661/134.9266*134.9266
=-39.661

Current CPI (Mar. 2025) = 134.9266.

National Refinery Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 4.203 100.684 5.632
201509 -0.250 100.392 -0.336
201512 -6.542 99.792 -8.845
201603 59.644 100.470 80.099
201606 -126.978 101.688 -168.483
201609 -32.771 101.861 -43.409
201612 4.516 101.863 5.982
201703 -87.969 102.862 -115.391
201706 7.505 103.349 9.798
201709 58.877 104.136 76.286
201712 -16.797 104.011 -21.790
201803 -54.313 105.290 -69.601
201806 -3.647 106.317 -4.628
201809 -25.392 106.507 -32.168
201812 -145.878 105.998 -185.691
201903 36.328 107.251 45.702
201906 -145.136 108.070 -181.205
201909 91.538 108.329 114.013
201912 -8.719 108.420 -10.851
202003 -38.681 108.902 -47.925
202006 52.969 108.767 65.708
202009 -74.383 109.815 -91.392
202012 12.335 109.897 15.144
202103 42.271 111.754 51.036
202106 -20.099 114.631 -23.657
202109 -138.821 115.734 -161.842
202112 -40.663 117.630 -46.642
202203 -15.578 121.301 -17.328
202206 223.385 125.017 241.092
202209 -311.170 125.227 -335.273
202212 226.443 125.222 243.993
202303 -260.518 127.348 -276.022
202306 121.375 128.729 127.219
202309 88.163 129.860 91.603
202312 -126.610 129.419 -131.998
202403 -10.653 131.776 -10.908
202406 -144.083 132.554 -146.662
202409 94.418 133.029 95.765
202412 -135.832 133.157 -137.637
202503 -39.661 134.927 -39.661

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.


National Refinery  (KAR:NRL) 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.


National Refinery Cyclically Adjusted Price-to-FCF Related Terms

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National Refinery Business Description

Industry
Traded in Other Exchanges
N/A
Address
7-B, Korangi Industrial Area, P.O. Box 8228, Karachi, PAK, 74900
National Refinery Ltd is a Pakistan-based company engaged in manufacturing and supplying fuel products, lubes, BTX, asphalts and specialty products for domestic consumption and export. It is also involved in the crude oil refining business. The company operates through two segments namely Fuel and Lube. The Fuel segment, which is the key revenue driver, is engaged in the production of high-speed diesel, naphtha, motor gasoline, liquefied petroleum gas, jet fuels, and furnace oil. The Lube segment produces multiple grades of lube base oils, bitumen, waxes and rubber process oil and some quantities of other fuel products. It derives maximum revenue from Fuel Segment.

National Refinery Headlines

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