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BRF (BUE:BRFS) Cyclically Adjusted FCF per Share : ARS1,075.72 (As of Mar. 2024)


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What is BRF Cyclically Adjusted FCF per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and 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.

BRF's adjusted free cash flow per share for the three months ended in Mar. 2024 was ARS141.039. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is ARS1,075.72 for the trailing ten years ended in Mar. 2024.

During the past 12 months, BRF's average Cyclically Adjusted FCF Growth Rate was -12.30% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 3.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 22.70% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted FCF Growth Rate of BRF was 57.40% per year. The lowest was 3.00% per year. And the median was 21.65% per year.

As of today (2024-05-15), BRF's current stock price is ARS11735.50. BRF's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 was ARS1,075.72. BRF's Cyclically Adjusted Price-to-FCF of today is 10.91.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of BRF was 1304.35. The lowest was 3.07. And the median was 26.47.


BRF Cyclically Adjusted FCF per Share Historical Data

The historical data trend for BRF's Cyclically Adjusted FCF per Share 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.

BRF Cyclically Adjusted FCF per Share Chart

BRF Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 143.49 228.97 373.22 1,024.40

BRF Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted FCF per Share 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 487.34 619.61 886.66 1,024.40 1,075.72

Competitive Comparison of BRF's Cyclically Adjusted FCF per Share

For the Packaged Foods subindustry, BRF'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.


BRF's Cyclically Adjusted Price-to-FCF Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, BRF's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



BRF Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and 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.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

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. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

For example, BRF's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2024 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Mar. 2024 (Change)*Current CPI (Mar. 2024)
=141.039/156.2729*156.2729
=141.039

Current CPI (Mar. 2024) = 156.2729.

BRF Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 3.423 91.838 5.825
201409 1.876 92.602 3.166
201412 4.553 94.194 7.554
201503 3.698 97.799 5.909
201506 1.103 100.006 1.724
201509 3.112 101.392 4.796
201512 -0.907 104.247 -1.360
201603 -3.564 106.979 -5.206
201606 -3.035 108.851 -4.357
201609 2.451 109.986 3.482
201612 4.698 110.802 6.626
201703 -9.091 111.869 -12.699
201706 1.193 112.115 1.663
201709 -1.455 112.777 -2.016
201712 5.454 114.068 7.472
201803 -1.675 114.868 -2.279
201806 -1.546 117.038 -2.064
201809 -5.445 117.881 -7.218
201812 -2.263 118.340 -2.988
201903 -3.277 120.124 -4.263
201906 3.620 120.977 4.676
201909 20.305 121.292 26.161
201912 25.570 123.436 32.372
202003 36.684 124.092 46.197
202006 4.276 123.557 5.408
202009 32.928 125.095 41.135
202012 -19.543 129.012 -23.672
202103 27.429 131.660 32.557
202106 -34.262 133.871 -39.996
202109 20.818 137.913 23.589
202112 2.706 141.992 2.978
202203 -52.151 146.537 -55.616
202206 1.455 149.784 1.518
202209 13.231 147.800 13.990
202212 16.540 150.207 17.208
202303 -2.179 153.352 -2.220
202306 3.996 154.519 4.041
202309 16.747 155.464 16.834
202312 49.001 156.273 49.001
202403 141.039 156.273 141.039

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.


BRF  (BUE:BRFS) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

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.

BRF's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=11735.50/1075.72
=10.91

* 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.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of BRF was 1304.35. The lowest was 3.07. And the median was 26.47.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


BRF Cyclically Adjusted FCF per Share Related Terms

Thank you for viewing the detailed overview of BRF's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


BRF (BUE:BRFS) Business Description

Industry
Traded in Other Exchanges
Address
Avenida das Nacoes Unidas, 8501 – 1st Floor, Pinheiros, Sao Paulo, SP, BRA, 05425-070
BRF SA is an international producer of fresh and frozen protein foods. The firm's segments are In natura (poultry, pork, bovine, and other), Processed foods, and Other sales. The product portfolio includes marinated, frozen, whole and cut meat, specialty meats, portioned products, and frozen prepared entrees. The company also offers margarine, sweet specialties, sandwiches, mayonnaise, and animal feed. Its most well-known brands are Sadia, Chester, Perdix, Paty, Perdigao, and Qualy. Internationally, the portfolio's leading brand is Sadia, which is present in multiple categories in Middle Eastern countries. Geographically, sales are distributed evenly between Brazil and international markets.

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