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Frendy Energy SpAMIL:FRE -1.12%32 Cyclically Adjusted Price-to-FCF is 14.75 as of Sep. 17, 2026, which is 22% below its 10-year median of 19.00. GuruFocus rates MIL:FRE with a GF Score™ of 32/100 and a GF Value™ of €0.23 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 138 Utilities - Independent Power Producers companies, Frendy Energy SpA ranks worse than 52.17% on this metric.
The historical rank and industry rank for Frendy Energy SpA's Cyclically Adjusted Price-to-FCF or its related term are showing as below:
MIL:FRE'
s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 9.6 Med: 19 Max: 23
Current: 14.29
During the past 13 years, Frendy Energy SpA's highest Cyclically Adjusted Price-to-FCF was 23.00. The lowest was 9.60. And the median was 19.00.
MIL:FRE's Cyclically Adjusted Price-to-FCF is ranked worse than 52.17% of 138
companies
in the Utilities - Independent Power Producers industry
Industry Median: 13.745
vs MIL:FRE: 14.29
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.
Frendy Energy SpA's adjusted free cash flow per share data of for the fiscal year that ended in Dec25 was €0.012. 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 €0.01 for the trailing ten years ended in Dec25.
Shiller PE for Stocks: The True Measure of Stock Valuation
Frendy Energy SpA (MIL:FRE) 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.
Frendy Energy SpA Cyclically Adjusted Price-to-FCF Related Terms
Frendy Energy SpA Cyclically Adjusted Price-to-FCF Historical Data
* Premium members only.
The historical data trend for Frendy Energy 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.
Frendy Energy SpA Cyclically Adjusted Price-to-FCF Chart
Frendy Energy SpA Cyclically Adjusted Price-to-FCF Competitor Comparison
For the Utilities - Renewable subindustry, Frendy Energy 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.
Frendy Energy SpA Cyclically Adjusted Price-to-FCF vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Frendy Energy SpA's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where Frendy Energy SpA's Cyclically Adjusted Price-to-FCF falls into.
Frendy Energy 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.
Frendy Energy SpA's Cyclically Adjusted Price-to-FCF for today is calculated as
* 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.
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.
What does a Cyclically Adjusted Price-to-FCF of 14.75 mean?
Frendy Energy SpA (MIL:FRE) has a Cyclically Adjusted Price-to-FCF of 14.75 as of Sep. 17, 2026. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Frendy Energy SpA and its competitors. This is 22% below median its historical median of 19.00. Over the past decade, Frendy Energy SpA's Cyclically Adjusted Price-to-FCF has ranged from 9.60 to 23.00. According to the industry distribution chart, Frendy Energy SpA ranks #72 out of 138 companies in the Utilities - Independent Power Producers industry, placing it in the top 52.2%.
Is Frendy Energy SpA's Cyclically Adjusted Price-to-FCF too high?
Frendy Energy SpA's current Cyclically Adjusted Price-to-FCF of 14.75 is 22% below median its 10-year median of 19.00. Over the past 10 years, this metric has ranged from a low of 9.60 to a high of 23.00. The Utilities - Independent Power Producers industry median Cyclically Adjusted Price-to-FCF is 13.75. Frendy Energy SpA's value of 14.75 is 7.3% above this industry median. Based on the distribution chart, Frendy Energy SpA ranks #72 out of 138 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Frendy Energy SpA has a GF Score™ of 32/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Frendy Energy SpA's Cyclically Adjusted Price-to-FCF compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Frendy Energy SpA ranks #72 out of 138 companies for Cyclically Adjusted Price-to-FCF. This places Frendy Energy SpA in the lower half of its industry. The industry median Cyclically Adjusted Price-to-FCF is 13.75. Frendy Energy SpA's value of 14.75 is 7.3% above this benchmark. Historically, Frendy Energy SpA's own Cyclically Adjusted Price-to-FCF has ranged from 9.60 to 23.00 over the past decade. While the company's 10-year median is 19.00 vs. the industry median of 13.75, Frendy Energy SpA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Price-to-FCF for an Utilities - Independent Power Producers company?
The median Cyclically Adjusted Price-to-FCF among Utilities - Independent Power Producers companies is 13.75, based on 138 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted Price-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted Price-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Frendy Energy SpA's current Cyclically Adjusted Price-to-FCF of 14.75 is 7.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Price-to-FCF mean?
A high Cyclically Adjusted Price-to-FCF can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted Price-to-FCF Ratio is the ratio of share price to a company's inflation-adjusted FCF per share over a 10-year period. View historical data on Frendy Energy SpA and its competitors. For the Utilities - Independent Power Producers industry, the median Cyclically Adjusted Price-to-FCF is 13.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frendy Energy SpA's current Cyclically Adjusted Price-to-FCF is 14.75, which is 22% below median its own 10-year median of 19.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frendy Energy SpA stock overvalued right now?
Based on GuruFocus' analysis, Frendy Energy SpA (MIL:FRE) is currently considered Modestly Undervalued. The stock's GF Value™ is €0.23, compared to a current price of €0.18 — trading 23% below its estimated fair value. The current Cyclically Adjusted Price-to-FCF is 14.75, which is 22% below median its 10-year median of 19.00 and 7.3% above the Utilities - Independent Power Producers industry median of 13.75. Frendy Energy SpA's overall GF Score™ is 32/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Price-to-FCF calculated?
Cyclically Adjusted Price-to-FCF is calculated from a company's financial statements. For Frendy Energy SpA (MIL:FRE), the current Cyclically Adjusted Price-to-FCF is 14.75 as of Sep. 17, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Frendy Energy SpA (MIL:FRE) Overvalued in 2026?
Based on GuruFocus' analysis, Frendy Energy SpA stock appears to be undervalued.
The current stock price of €0.18 is trading 23% below its estimated GF Value™ of €0.23.
GuruFocus considers Frendy Energy SpA to be Modestly Undervalued.
Key valuation signals for MIL:FRE:
Cyclically Adjusted Price-to-FCF: 14.75 (22% below median its 10-year median of 19.00)
GF Value™: €0.23 vs. price of €0.18 (23% below fair value)
Industry Position: 7.3% above the Utilities - Independent Power Producers median (#72 of 138)
No single metric tells the full story. See the MIL:FRE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Frendy Energy SpA is an Italian company. It is engaged in building and operating mini hydropower plants towards the production and sale of electricity.
32GF Score
Get the complete analysis for MIL:FRE
Cyclically Adjusted Price-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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