LEDS (SemiLEDs) Cyclically Adjusted Price-to-FCF: (As of Aug. 29, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

LEDS SemiLEDs Corp LEDS
51 GF Score
Price $2.00
GF Value $3.95
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is SemiLEDs Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


SemiLEDs  (NAS:LEDS) 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.


SemiLEDs Cyclically Adjusted Price-to-FCF Related Terms


SemiLEDs Cyclically Adjusted Price-to-FCF Historical Data

* Premium members only.

The historical data trend for SemiLEDs'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.

SemiLEDs Cyclically Adjusted Price-to-FCF Chart

SemiLEDs Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Cyclically Adjusted Price-to-FCF
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SemiLEDs Quarterly Data
Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24 Feb25 May25 Aug25 Nov25 Feb26 May26
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 0.00 0.00 0.00 0.00 0.00

LEDS vs PRKR, PRSO, MOBX: Cyclically Adjusted Price-to-FCF Comparison

For the Semiconductors subindustry, SemiLEDs'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.


SemiLEDs Cyclically Adjusted Price-to-FCF vs Semiconductors Industry

For the Semiconductors industry and Technology sector, SemiLEDs's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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


LEDS
51GF Score
SemiLEDs Corp LEDS
Cyclically Adjusted Price-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SemiLEDs 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.

SemiLEDs's Cyclically Adjusted FCF per Share for the quarter that ended in May. 2026 is calculated as:

For example, SemiLEDs's adjusted Free Cash Flow per Share data for the three months ended in May. 2026 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of May. 2026 (Change)*Current CPI (May. 2026)
=0.255/335.1230*335.1230
=0.255

Current CPI (May. 2026) = 335.1230.

SemiLEDs Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201608 -0.231 240.849 -0.321
201611 -0.338 241.353 -0.469
201702 -0.189 243.603 -0.260
201705 -0.260 244.733 -0.356
201708 0.139 245.519 0.190
201711 -0.043 246.669 -0.058
201802 0.052 248.991 0.070
201805 -0.156 251.588 -0.208
201808 -0.280 252.146 -0.372
201811 -0.363 252.038 -0.483
201902 -0.210 252.776 -0.278
201905 -0.252 256.092 -0.330
201908 -0.202 256.558 -0.264
201911 -0.106 257.208 -0.138
202002 0.005 258.678 0.006
202005 -0.178 256.394 -0.233
202008 -0.062 259.918 -0.080
202011 0.010 260.229 0.013
202102 -0.192 263.014 -0.245
202105 -0.053 269.195 -0.066
202108 -0.199 273.567 -0.244
202111 -0.143 277.948 -0.172
202202 -0.100 283.716 -0.118
202205 -0.190 292.296 -0.218
202208 0.031 296.171 0.035
202211 0.069 297.711 0.078
202302 -0.105 300.840 -0.117
202305 -0.142 304.127 -0.156
202308 -0.069 307.026 -0.075
202311 -0.029 307.051 -0.032
202402 -0.127 310.326 -0.137
202405 0.014 314.069 0.015
202408 0.021 314.796 0.022
202411 -0.039 315.493 -0.041
202502 0.176 319.082 0.185
202505 0.053 321.465 0.055
202508 0.030 323.976 0.031
202511 0.040 324.122 0.041
202602 0.144 326.785 0.148
202605 0.255 335.123 0.255

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.

Is SemiLEDs (LEDS) Overvalued in 2026?

Based on GuruFocus' analysis, SemiLEDs stock appears to be undervalued. The current stock price of $2.00 is trading 49.4% below its estimated GF Value™ of $3.95. GuruFocus considers SemiLEDs to be Possible Value Trap.

Key valuation signals for LEDS:

  • Cyclically Adjusted Price-to-FCF:
  • GF Value™: $3.95 vs. price of $2.00 (49.4% below fair value)
  • GF Score™: 51/100 with 5 warning signs

No single metric tells the full story. See the LEDS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SemiLEDs Business Description

Other Exchanges 6LD1:Germany
Address No.11 Ke Jung Road, 3rd Floor, Chu-Nan Site. Chu-Nan 350, Hsinchu Science Park, Miao-Li County, Miao-Li, TWN, 350
SemiLEDs Corp develops, manufactures, and sells light-emitting diode chips and LED components. The company's products include LED Chips, LED Components, and Lighting Products. Its products are used for general lighting applications, including street lights and commercial, industrial, system, and residential lighting; specialty industrial applications, such as ultraviolet, or Ultraviolet, curing of polymers, LED light therapy in medical/cosmetic applications, counterfeit detection, LED lighting for horticulture applications, architectural lighting and entertainment lighting. Substantial revenue is generated from the sale of LED components products. Geographically, it derives a majority of its revenue from Japan.
51GF Score

Get the complete analysis for LEDS

Cyclically Adjusted Price-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$2.00
Price
$3.95
GF Value