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Azimut Holding SPA (MIL:AZM) Cyclically Adjusted Price-to-FCF : 9.89 (As of May. 21, 2024)


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What is Azimut Holding SPA Cyclically Adjusted Price-to-FCF?

As of today (2024-05-21), Azimut Holding SPA's current share price is €25.21. Azimut Holding SPA's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 was €2.55. Azimut Holding SPA's Cyclically Adjusted Price-to-FCF for today is 9.89.

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

MIL:AZM' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 6.08   Med: 10.12   Max: 16.32
Current: 10.31

During the past years, Azimut Holding SPA's highest Cyclically Adjusted Price-to-FCF was 16.32. The lowest was 6.08. And the median was 10.12.

MIL:AZM's Cyclically Adjusted Price-to-FCF is ranked better than
67.26% of 504 companies
in the Asset Management industry
Industry Median: 20.675 vs MIL:AZM: 10.31

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.

Azimut Holding SPA's adjusted free cash flow per share data for the three months ended in Dec. 2023 was €0.503. 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 €2.55 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


Azimut Holding SPA Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Azimut Holding SPA'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.

Azimut Holding SPA Cyclically Adjusted Price-to-FCF Chart

Azimut Holding SPA 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 12.16 10.12 10.20 8.51 9.26

Azimut Holding SPA 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 7.86 7.48 7.56 9.26 -

Competitive Comparison of Azimut Holding SPA's Cyclically Adjusted Price-to-FCF

For the Asset Management subindustry, Azimut Holding SPA'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.


Azimut Holding SPA's Cyclically Adjusted Price-to-FCF Distribution in the Asset Management Industry

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

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



Azimut Holding SPA 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.

Azimut Holding SPA's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=25.21/2.55
=9.89

* 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.

Azimut Holding SPA's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, Azimut Holding SPA's adjusted Free Cash Flow per Share data for the three months ended in Dec. 2023 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=0.503/119.7000*119.7000
=0.503

Current CPI (Dec. 2023) = 119.7000.

Azimut Holding SPA Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201403 0.291 99.907 0.349
201406 0.281 100.093 0.336
201409 0.243 99.814 0.291
201412 -0.093 99.721 -0.112
201503 1.010 99.814 1.211
201506 0.478 100.279 0.571
201509 0.154 100.000 0.184
201512 -0.086 99.814 -0.103
201603 1.166 99.600 1.401
201606 -1.255 99.900 -1.504
201609 0.590 100.100 0.706
201612 0.664 100.300 0.792
201703 2.984 101.000 3.536
201706 -1.403 101.100 -1.661
201709 0.399 101.200 0.472
201712 0.431 101.200 0.510
201803 -0.065 101.800 -0.076
201806 -0.535 102.400 -0.625
201809 0.232 102.600 0.271
201812 0.101 102.300 0.118
201903 2.155 102.800 2.509
201906 0.463 103.100 0.538
201909 0.263 102.900 0.306
201912 3.455 102.800 4.023
202003 0.611 102.900 0.711
202006 -0.032 102.900 -0.037
202009 0.336 102.300 0.393
202012 0.916 102.600 1.069
202103 1.217 103.700 1.405
202106 1.406 104.200 1.615
202109 1.533 104.900 1.749
202112 2.126 106.600 2.387
202203 -1.493 110.400 -1.619
202206 0.029 112.500 0.031
202209 0.693 114.200 0.726
202212 -0.328 119.000 -0.330
202303 0.819 118.800 0.825
202306 1.113 119.700 1.113
202309 0.953 120.300 0.948
202312 0.503 119.700 0.503

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.


Azimut Holding SPA  (MIL:AZM) 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.


Azimut Holding SPA Cyclically Adjusted Price-to-FCF Related Terms

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


Azimut Holding SPA (MIL:AZM) Business Description

Traded in Other Exchanges
Address
Via Cusani 4, Milan, ITA, 20121
Azimut Holding SPA is a large independent asset management firm operating primarily in Italy but with an increasingly global presence. In Italy, its capital management division sells and manages Italian mutual funds, Italian hedge funds, and is active in the discretionary management of individual investment portfolios. Its international business operations involve the sale, management, and distribution of financial and insurance products. Its portfolio solutions encompass a broad array of strategies that cut across various traditional and alternative asset classes. A majority of its revenue is derived from recurring fees from assets under management.

Azimut Holding SPA (MIL:AZM) Headlines

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