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PG&E (NYSE:PCG) Cyclically Adjusted FCF per Share

: $-4.01 (As of Dec. 2023)
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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.

PG&E's adjusted free cash flow per share for the three months ended in Dec. 2023 was $-0.999. 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 $-4.01 for the trailing ten years ended in Dec. 2023.

During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was -8.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was -17.50% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was -17.00% 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 PG&E was 24.00% per year. The lowest was -184.40% per year. And the median was -17.20% per year.

As of today (2024-02-24), PG&E's current stock price is $17.03. PG&E's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 was $-4.01. PG&E's Cyclically Adjusted Price-to-FCF of today is .


PG&E Cyclically Adjusted FCF per Share Historical Data

The historical data trend for PG&E'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.

PG&E Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted FCF per Share
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.06 -3.18 -3.58 -4.16 -4.01

PG&E 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 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 Premium Member Only Premium Member Only Premium Member Only -4.16 -4.17 -4.07 -4.14 -4.01

Competitive Comparison

For the Utilities - Regulated Electric subindustry, PG&E'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.


PG&E Cyclically Adjusted Price-to-FCF Distribution

For the Utilities - Regulated industry and Utilities sector, PG&E's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



PG&E 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, PG&E'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)
=-0.999/129.4194*129.4194
=-0.999

Current CPI (Dec. 2023) = 129.4194.

PG&E Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201403 -0.926 99.695 -1.202
201406 -1.309 100.560 -1.685
201409 0.914 100.428 1.178
201412 -1.126 99.070 -1.471
201503 -0.231 99.621 -0.300
201506 -0.911 100.684 -1.171
201509 -0.346 100.392 -0.446
201512 -1.357 99.792 -1.760
201603 -0.285 100.470 -0.367
201606 -1.396 101.688 -1.777
201609 -0.018 101.861 -0.023
201612 -0.901 101.863 -1.145
201703 0.701 102.862 0.882
201706 -0.148 103.349 -0.185
201709 1.002 104.136 1.245
201712 -0.899 104.011 -1.119
201803 0.081 105.290 0.100
201806 -0.360 106.317 -0.438
201809 -0.410 106.507 -0.498
201812 -2.796 105.998 -3.414
201903 1.935 107.251 2.335
201906 -1.272 108.070 -1.523
201909 -0.892 108.329 -1.066
201912 -2.610 108.420 -3.116
202003 -0.056 108.902 -0.067
202006 -0.136 108.767 -0.162
202009 -11.489 109.815 -13.540
202012 -1.029 109.897 -1.212
202103 -0.272 111.754 -0.315
202106 -0.843 114.631 -0.952
202109 -0.516 115.734 -0.577
202112 -1.014 117.630 -1.116
202203 -0.304 121.301 -0.324
202206 -1.051 125.017 -1.088
202209 -0.844 125.227 -0.872
202212 -0.546 125.222 -0.564
202303 -0.517 127.348 -0.525
202306 -0.522 128.729 -0.525
202309 -0.286 129.860 -0.285
202312 -0.999 129.419 -0.999

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


PG&E  (NYSE:PCG) 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.


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.


PG&E Cyclically Adjusted FCF per Share Related Terms

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


PG&E (NYSE:PCG) Business Description

Industry
Address
300 Lakeside Drive, Oakland, CA, USA, 94612
PG&E is a holding company whose main subsidiary is Pacific Gas and Electric, a regulated utility operating in Central and Northern California that serves 5.3 million electricity customers and 4.6 million gas customers in 47 of the state's 58 counties. PG&E operated under bankruptcy court supervision between January 2019 and June 2020. In 2004, PG&E sold its unregulated assets as part of an earlier postbankruptcy reorganization.
Executives
Cheryl F. Campbell director C/O 77 BEALE ST., P.O. BOX 770000, SAN FRANCISCO CA 94177
Carolyn Jeanne Burke officer: EVP Finance C/O EXCELERATE ENERGY, INC., 2445 TECHNOLOGY FOREST BLVD., LEVEL 6, THE WOODLANDS TX 77381
Patricia K Poppe director, officer: Chief Executive Officer 77 BEALE STREET, POB 770000, SAN FRANCISCO CA 94177
Edward G Cannizzaro director 5130 HACIENDA DRIVE, DUBLIN CA 94568
Stephanie N Williams officer: VP and Controller 77 BEALE STREET, PO BOX 77000, SAN FRANCISCO CA 94177
Pg&e Fire Victim Trust 10 percent owner TWO EMBARCADERO CENTER, SUITE 1500, SAN FRANCISCO CA 94111
William Lloyd Smith director 46429 LANDING PARKWAY, FREMONT CA 94538
Marlene Santos other: EVP, CCO at PG&E Company 77 BEALE STREET, P.O. BOX 770000, SAN FRANCISCO CA 94117
Carlos M Hernandez director
Adam L Wright other: EVP, Ops & COO at PG&E Company 77 BEALE STREET, P.O. BOX 770000, SAN FRANCISCO CA 94177
Julius Cox officer: EVP/Ppl, Shrd Svcs & Spply Chn 77 BEALE STREET, POB 770000, SAN FRANCISCO CA 94177
Sumeet Singh officer: EVP/CRO & Chf Safety Ofc 77 BEALE STREET, PO BOX 770000, SAN FRANCISCO CA 94177
Ajay Waghray officer: SVP & Chf Information Ofc C/O ASSURANT, INC., 28 LIBERTY STREET, 41 FL., NEW YORK NY 1
Carla J Peterman officer: EVP/Corp. Affairs & CSO 77 BEALE STREET, P.O. BOX 77000, SAN FRANCISCO CA 94177
Christopher A Foster officer: EVP & Chief Financial Officer 77 BEALE ST., P.O. BOX 770000, SAN FRANCISCO CA 94177