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FirstrandNAM:FST -0.17%81 Cyclically Adjusted Price-to-FCF is 36.55 as of Aug. 15, 2026, which is 1% above its 10-year median of 36.36. GuruFocus rates NAM:FST with a GF Score™ of 81/100 and a GF Value™ of R84.15 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 877 Banks companies, Firstrand ranks worse than 94.64% on this metric.
The historical rank and industry rank for Firstrand's Cyclically Adjusted Price-to-FCF or its related term are showing as below:
NAM:FST'
s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 20.77 Med: 36.36 Max: 161.85
Current: 37.26
During the past 13 years, Firstrand's highest Cyclically Adjusted Price-to-FCF was 161.85. The lowest was 20.77. And the median was 36.36.
NAM:FST's Cyclically Adjusted Price-to-FCF is ranked worse than 94.64% of 877
companies
in the Banks industry
Industry Median: 10.21
vs NAM:FST: 37.26
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.
Firstrand's adjusted free cash flow per share data of for the fiscal year that ended in Jun25 was R0.089. 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 R2.71 for the trailing ten years ended in Jun25.
Shiller PE for Stocks: The True Measure of Stock Valuation
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.
Firstrand Cyclically Adjusted Price-to-FCF Related Terms
Firstrand Cyclically Adjusted Price-to-FCF Historical Data
* Premium members only.
The historical data trend for Firstrand'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.
NAM:FST vs JPM, BAC, WFC: Cyclically Adjusted Price-to-FCF Comparison
For the Banks - Diversified subindustry, Firstrand'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.
Firstrand Cyclically Adjusted Price-to-FCF vs Banks Industry
For the Banks industry and Financial Services sector, Firstrand's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where Firstrand's Cyclically Adjusted Price-to-FCF falls into.
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.
Firstrand'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 36.55 mean?
Firstrand (NAM:FST) has a Cyclically Adjusted Price-to-FCF of 36.55 as of Aug. 15, 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 Firstrand and its competitors. This is near median its historical median of 36.36. Over the past decade, Firstrand's Cyclically Adjusted Price-to-FCF has ranged from 20.77 to 161.85. According to the industry distribution chart, Firstrand ranks #830 out of 877 companies in the Banks industry, placing it in the top 94.6%.
Is Firstrand's Cyclically Adjusted Price-to-FCF too high?
Firstrand's current Cyclically Adjusted Price-to-FCF of 36.55 is near median its 10-year median of 36.36. Over the past 10 years, this metric has ranged from a low of 20.77 to a high of 161.85. The Banks industry median Cyclically Adjusted Price-to-FCF is 10.21. Firstrand's value of 36.55 is 258% above this industry median. Based on the distribution chart, Firstrand ranks #830 out of 877 companies in the Banks industry, which is in the bottom quartile relative to peers. Overall, Firstrand has a GF Score™ of 81/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Firstrand's Cyclically Adjusted Price-to-FCF compare to JPM and BAC?
According to the Banks industry distribution chart, Firstrand ranks #830 out of 877 companies for Cyclically Adjusted Price-to-FCF. This places Firstrand in the lower half of its industry. The industry median Cyclically Adjusted Price-to-FCF is 10.21. Firstrand's value of 36.55 is 258% above this benchmark. Historically, Firstrand's own Cyclically Adjusted Price-to-FCF has ranged from 20.77 to 161.85 over the past decade. While the company's 10-year median is 36.36 vs. the industry median of 10.21, Firstrand 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 a Banks company?
The median Cyclically Adjusted Price-to-FCF among Banks companies is 10.21, based on 877 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. Firstrand's current Cyclically Adjusted Price-to-FCF of 36.55 is 258% 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 Firstrand and its competitors. For the Banks industry, the median Cyclically Adjusted Price-to-FCF is 10.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Firstrand's current Cyclically Adjusted Price-to-FCF is 36.55, which is near median its own 10-year median of 36.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Firstrand stock overvalued right now?
Based on GuruFocus' analysis, Firstrand (NAM:FST) is currently considered Modestly Overvalued. The stock's GF Value™ is R84.15, compared to a current price of R99.04 — trading 17.7% above its estimated fair value. The current Cyclically Adjusted Price-to-FCF is 36.55, which is near median its 10-year median of 36.36 and 258% above the Banks industry median of 10.21. Firstrand's overall GF Score™ is 81/100 with 4 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 Firstrand (NAM:FST), the current Cyclically Adjusted Price-to-FCF is 36.55 as of Aug. 15, 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 Firstrand (NAM:FST) Overvalued in 2026?
Based on GuruFocus' analysis, Firstrand stock appears to be overvalued.
The current stock price of R99.04 is trading 17.7% above its estimated GF Value™ of R84.15.
GuruFocus considers Firstrand to be Modestly Overvalued.
Key valuation signals for NAM:FST:
Cyclically Adjusted Price-to-FCF: 36.55 (near median its 10-year median of 36.36)
GF Value™: R84.15 vs. price of R99.04 (17.7% above fair value)
Industry Position: 258% above the Banks median (#830 of 877)
No single metric tells the full story. See the NAM:FST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Firstrand Ltd wholly owns FirstRand Bank, a full-service bank providing a comprehensive range of retail, commercial, corporate and investment banking services in South Africa and offers niche products. The bank has three divisions, which are separately branded: First National Bank (FNB), WesBank and Rand Merchant Bank (RMB). The firm's reportable segment includes Retail and commercial segment, Corporate and institutional segment, Centre (including group treasury), Firstrand Bank Normalised, and Normalised adjustments.
81GF Score
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