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BlackRock Capital Investment (FRA:8BK) Cyclically Adjusted FCF per Share : €1.00 (As of Dec. 2023)


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What is BlackRock Capital Investment 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.

BlackRock Capital Investment's adjusted free cash flow per share for the three months ended in Dec. 2023 was €-0.115. 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 €1.00 for the trailing ten years ended in Dec. 2023.

During the past 12 months, BlackRock Capital Investment's average Cyclically Adjusted FCF Growth Rate was 8.20% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 7.60% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 1.50% 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 BlackRock Capital Investment was 8.80% per year. The lowest was -7.70% per year. And the median was 2.30% per year.

As of today (2024-05-14), BlackRock Capital Investment's current stock price is €3.405. BlackRock Capital Investment's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 was €1.00. BlackRock Capital Investment's Cyclically Adjusted Price-to-FCF of today is 3.41.

During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of BlackRock Capital Investment was 30.04. The lowest was 2.80. And the median was 4.63.


BlackRock Capital Investment Cyclically Adjusted FCF per Share Historical Data

The historical data trend for BlackRock Capital Investment'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.

BlackRock Capital Investment Cyclically Adjusted FCF per Share Chart

BlackRock Capital Investment 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 0.67 0.66 0.93 0.90 1.00

BlackRock Capital Investment 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 0.90 0.80 0.74 0.96 1.00

Competitive Comparison of BlackRock Capital Investment's Cyclically Adjusted FCF per Share

For the Asset Management subindustry, BlackRock Capital Investment'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.


BlackRock Capital Investment's Cyclically Adjusted Price-to-FCF Distribution in the Asset Management Industry

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

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



BlackRock Capital Investment 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, BlackRock Capital Investment'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)
=-0.115/129.4194*129.4194
=-0.115

Current CPI (Dec. 2023) = 129.4194.

BlackRock Capital Investment Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201403 0.452 99.695 0.587
201406 1.688 100.560 2.172
201409 -0.476 100.428 -0.613
201412 -1.003 99.070 -1.310
201503 0.280 99.621 0.364
201506 2.031 100.684 2.611
201509 -1.048 100.392 -1.351
201512 0.407 99.792 0.528
201603 -0.657 100.470 -0.846
201606 1.324 101.688 1.685
201609 0.509 101.861 0.647
201612 0.031 101.863 0.039
201703 0.082 102.862 0.103
201706 0.632 103.349 0.791
201709 0.605 104.136 0.752
201712 0.899 104.011 1.119
201803 -1.021 105.290 -1.255
201806 0.928 106.317 1.130
201809 0.188 106.507 0.228
201812 0.810 105.998 0.989
201903 0.048 107.251 0.058
201906 -0.373 108.070 -0.447
201909 -0.308 108.329 -0.368
201912 -0.169 108.420 -0.202
202003 0.073 108.902 0.087
202006 -0.011 108.767 -0.013
202009 0.193 109.815 0.227
202012 1.334 109.897 1.571
202103 0.215 111.754 0.249
202106 -0.305 114.631 -0.344
202109 -0.038 115.734 -0.042
202112 0.133 117.630 0.146
202203 0.317 121.301 0.338
202206 -0.482 125.017 -0.499
202209 -0.098 125.227 -0.101
202212 -0.050 125.222 -0.052
202303 -0.092 127.348 -0.093
202306 -0.063 128.729 -0.063
202309 0.175 129.860 0.174
202312 -0.115 129.419 -0.115

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


BlackRock Capital Investment  (FRA:8BK) 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.

BlackRock Capital Investment's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=3.405/1
=3.41

* 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 BlackRock Capital Investment was 30.04. The lowest was 2.80. And the median was 4.63.


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.


BlackRock Capital Investment Cyclically Adjusted FCF per Share Related Terms

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


BlackRock Capital Investment (FRA:8BK) Business Description

Traded in Other Exchanges
Address
50 Hudson Yards, New York, NY, USA, 10001
BlackRock Capital Investment Corporation is a closed-end investment management enterprise based in the United States. It carries out its operations to generate both income and capital appreciation for its investors through its senior and junior secured, unsecured, and subordinated debt securities and loans and equity securities. BlackRock also follows a policy of investing primarily in middle-market companies with adequate annual revenue and positive cash flows. Its investment portfolio includes companies predominantly in the finance sector. Other sectors of investments comprise chemicals, healthcare, consumer goods, and retail.

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