GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Cohen & Co Inc (AMEX:COHN) » Definitions » Cyclically Adjusted FCF per Share

Cohen (COHN) Cyclically Adjusted FCF per Share : $-8.16 (As of Dec. 2023)


View and export this data going back to 2004. Start your Free Trial

What is Cohen 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.

Cohen's adjusted free cash flow per share for the three months ended in Dec. 2023 was $-2.336. 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 $-8.16 for the trailing ten years ended in Dec. 2023.

During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was -16.10% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was -17.70% 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 Cohen was -13.20% per year. The lowest was -29.40% per year. And the median was -16.10% per year.

As of today (2024-04-30), Cohen's current stock price is $6.60. Cohen's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 was $-8.16. Cohen's Cyclically Adjusted Price-to-FCF of today is .

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Cohen was 2092.00. The lowest was 0.13. And the median was 0.34.


Cohen Cyclically Adjusted FCF per Share Historical Data

The historical data trend for Cohen'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.

Cohen Cyclically Adjusted FCF per Share Chart

Cohen 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 -5.03 -5.22 -4.68 -7.30 -8.16

Cohen Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 -7.30 -7.57 -8.10 -8.13 -8.16

Competitive Comparison of Cohen's Cyclically Adjusted FCF per Share

For the Capital Markets subindustry, Cohen'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.


Cohen's Cyclically Adjusted Price-to-FCF Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Cohen's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Cohen 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, Cohen'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)
=-2.336/129.4194*129.4194
=-2.336

Current CPI (Dec. 2023) = 129.4194.

Cohen Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201403 0.715 99.695 0.928
201406 -0.139 100.560 -0.179
201409 -0.961 100.428 -1.238
201412 2.423 99.070 3.165
201503 -4.630 99.621 -6.015
201506 1.154 100.684 1.483
201509 -0.479 100.392 -0.618
201512 2.007 99.792 2.603
201603 -3.858 100.470 -4.970
201606 -0.772 101.688 -0.983
201609 0.244 101.861 0.310
201612 -0.483 101.863 -0.614
201703 -9.936 102.862 -12.501
201706 -0.702 103.349 -0.879
201709 0.841 104.136 1.045
201712 6.880 104.011 8.561
201803 2.707 105.290 3.327
201806 4.294 106.317 5.227
201809 -7.854 106.507 -9.544
201812 -4.135 105.998 -5.049
201903 -5.576 107.251 -6.729
201906 0.387 108.070 0.463
201909 -0.361 108.329 -0.431
201912 -3.703 108.420 -4.420
202003 16.343 108.902 19.422
202006 28.825 108.767 34.298
202009 -18.367 109.815 -21.646
202012 -55.750 109.897 -65.654
202103 -5.607 111.754 -6.493
202106 0.827 114.631 0.934
202109 4.891 115.734 5.469
202112 3.805 117.630 4.186
202203 10.073 121.301 10.747
202206 -1.632 125.017 -1.689
202209 -1.038 125.227 -1.073
202212 -19.472 125.222 -20.125
202303 -5.067 127.348 -5.149
202306 -5.316 128.729 -5.345
202309 -0.107 129.860 -0.107
202312 -2.336 129.419 -2.336

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


Cohen  (AMEX:COHN) 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.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Cohen was 2092.00. The lowest was 0.13. And the median was 0.34.


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.


Cohen Cyclically Adjusted FCF per Share Related Terms

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


Cohen (COHN) Business Description

Traded in Other Exchanges
N/A
Address
2929 Arch Street, Cira Centre, Suite 1703, Philadelphia, PA, USA, 19104-2870
Cohen & Co Inc is a United states company that delivers financial services in fixed income markets. It is focused on small-cap banking institutions and has grown to provide an expanding range of capital markets and asset management services. It has three business segments. The Capital Markets segment, which is the key revenue driver, consists of fixed income sales, trading, matched book repo financing, new issue placements in corporate and securitized products, and advisory services. The Asset Management segment manages assets within collateralized debt obligations, managed accounts, joint ventures, and investment funds. The Principal Investing segment is comprised of investments to earn return rather than to support trading, matched book repo, or other Capital Markets segment activities.
Executives
G Steven Dawson director CIRA CENTRE, 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104-2870
Douglas Listman officer: Chief Accounting Officer 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104-2870
Daniel G Cohen director, 10 percent owner, officer: Vice Chairman and CE Europe 712 FIFTH AVENUE, 8TH FLOOR, NEW YORK NY 10019
Lester Raymond Brafman officer: Chief Executive Officer C/O INSTITUTIONAL FINANCIAL MARKETS, INC, 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104
Pooler Joseph W. Jr. officer: EVP, CFO and Treasurer 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104-2870
Christopher Ricciardi director, other: Former10% Owner 51 SHELLBARK LANE, BRIARCLIFF MANOR NY 10510
Stephanie Ricciardi other: Former 10% Owner C/O MR. RICCIARDI COHEN & COMPANY INC., 135 EAST 57TH STREET, 21ST FLOOR, NEW YORK NY 10022
Neil S Subin director 2336 S.E. OCEAN BOULEVARD, #400, STUART FL 34996
Thomas Costello director CIRA CENTRE, 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104-2870
James Mcentee director CIRA CENTRE, 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104-2870
Diana Louise Liberto director C/O INSTITUTIONAL FINANCIAL MARKETS, INC, CIRA CENTER, 2929 ARCH STREET, 17TH FL., PHILADELPHIA PA 19103
Jack Dimaio director C/O DIMAIO AHMAD CAPITAL LLC, 245 PARK AVENUE, NEW YORK NY 10167
Mead Park Capital Partners Llc 10 percent owner 126 EAST 56TH STREET, NEW YORK NY 10022
Edward E Cohen 10 percent owner RESOURCE AMERICA INC, 1845 WALNUT ST, PHILADELPHIA PA 19103
Ebc 2013 Family Trust 10 percent owner 2929 ARCH STREET, 17TH FLOOR, PHILADELPHIA PA 19104