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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.
Raymond James Financial's adjusted free cash flow per share for the three months ended in Dec. 2023 was $2.306. 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 $5.06 for the trailing ten years ended in Dec. 2023.
During the past 12 months, Raymond James Financial's average Cyclically Adjusted FCF Growth Rate was -1.40% per year. During the past 3 years, the average Cyclically Adjusted FCF Growth Rate was 6.00% per year. During the past 5 years, the average Cyclically Adjusted FCF Growth Rate was 36.80% per year. During the past 10 years, the average Cyclically Adjusted FCF Growth Rate was 18.00% 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 Raymond James Financial was 73.80% per year. The lowest was -34.30% per year. And the median was 6.00% per year.
As of today (2024-04-27), Raymond James Financial's current stock price is $121.86. Raymond James Financial's Cyclically Adjusted FCF per Share for the quarter that ended in Dec. 2023 was $5.06. Raymond James Financial's Cyclically Adjusted Price-to-FCF of today is 24.08.
During the past 13 years, the highest Cyclically Adjusted Price-to-FCF of Raymond James Financial was 53.29. The lowest was 10.09. And the median was 22.15.
The historical data trend for Raymond James Financial'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.
Raymond James Financial 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 | 4.97 | 4.78 | 4.85 | 5.06 | - |
For the Capital Markets subindustry, Raymond James Financial'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.
For the Capital Markets industry and Financial Services sector, Raymond James Financial's Cyclically Adjusted Price-to-FCF distribution charts can be found below:
* The bar in red indicates where Raymond James Financial's Cyclically Adjusted Price-to-FCF falls into.
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, Raymond James Financial'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) |
= | 2.306 | / | 129.4194 | * | 129.4194 | |
= | 2.306 |
Current CPI (Dec. 2023) = 129.4194.
Raymond James Financial Quarterly Data
Free Cash Flow per Share | CPI | Adj_FreeCashFlowPerShare | |
201403 | 0.455 | 99.695 | 0.591 |
201406 | 1.412 | 100.560 | 1.817 |
201409 | 0.188 | 100.428 | 0.242 |
201412 | 1.040 | 99.070 | 1.359 |
201503 | 0.568 | 99.621 | 0.738 |
201506 | 0.283 | 100.684 | 0.364 |
201509 | 1.877 | 100.392 | 2.420 |
201512 | 0.983 | 99.792 | 1.275 |
201603 | -1.533 | 100.470 | -1.975 |
201606 | -0.052 | 101.688 | -0.066 |
201609 | -2.626 | 101.861 | -3.336 |
201612 | 3.336 | 101.863 | 4.238 |
201703 | 0.832 | 102.862 | 1.047 |
201706 | 1.193 | 103.349 | 1.494 |
201709 | -6.743 | 104.136 | -8.380 |
201712 | 1.735 | 104.011 | 2.159 |
201803 | 0.671 | 105.290 | 0.825 |
201806 | -1.821 | 106.317 | -2.217 |
201809 | 2.787 | 106.507 | 3.387 |
201812 | 0.896 | 105.998 | 1.094 |
201903 | -1.098 | 107.251 | -1.325 |
201906 | -0.761 | 108.070 | -0.911 |
201909 | 3.023 | 108.329 | 3.612 |
201912 | 2.403 | 108.420 | 2.868 |
202003 | 11.160 | 108.902 | 13.263 |
202006 | -1.502 | 108.767 | -1.787 |
202009 | 6.657 | 109.815 | 7.845 |
202012 | 9.046 | 109.897 | 10.653 |
202103 | -5.770 | 111.754 | -6.682 |
202106 | 6.481 | 114.631 | 7.317 |
202109 | 21.344 | 115.734 | 23.868 |
202112 | -10.857 | 117.630 | -11.945 |
202203 | 5.136 | 121.301 | 5.480 |
202206 | 26.490 | 125.017 | 27.423 |
202209 | -20.485 | 125.227 | -21.171 |
202212 | -14.351 | 125.222 | -14.832 |
202303 | -3.038 | 127.348 | -3.087 |
202306 | -1.122 | 128.729 | -1.128 |
202309 | 1.793 | 129.860 | 1.787 |
202312 | 2.306 | 129.419 | 2.306 |
Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.
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.
Raymond James Financial's Cyclically Adjusted Price-to-FCF of today is calculated as
Cyclically Adjusted Price-to-FCF | = | Share Price | / | Cyclically Adjusted FCF per Share |
= | 121.86 | / | 5.06 | |
= | 24.08 |
* 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 Raymond James Financial was 53.29. The lowest was 10.09. And the median was 22.15.
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.
Thank you for viewing the detailed overview of Raymond James Financial's Cyclically Adjusted FCF per Share provided by GuruFocus.com. Please click on the following links to see related term pages.
Steven M Raney | officer: President & CEO RJBank | 880 CARILLON PARKWAY, ST. PETERSBURG FL 33716 |
Paul C Reilly | director | 880 CARILLON PARKWAY, ST. PETERSBURG FL 33716 |
Jeffrey A Dowdle | officer: President, AMS - RJA | 880 CARILLON PARKWAY, ST. PETERSBURG FL 33716 |
Horace Carter | officer: President, Fixed Income | 1100 RIDGEWAY LOOP ROAD, MEMPHIS TN 38120 |
Art A Garcia | director | 11690 N.W. 105TH STREET, MIAMI FL 33178 |
Raymond W Mcdaniel | director | 7 WORLD TRADE CENTER, 250 GREENWICH STREET, NEW YORK NY 10007 |
Jodi Perry | officer: President, ICD for RJFS | 880 CARILLON PARKWAY, SAINT PETERSBURG FL 33716 |
George Catanese | officer: Executive Vice President | 880 CARILLON PARKWAY, ST. PETERSBURG X1 33716 |
Thomas A James | director, 10 percent owner, officer: Chairman/CEO | 880 CARILLON PARKWAY, ST. PETERSBURG FL 33772 |
James E Bunn | officer: Co-Pres-GlobEq&Inv Banking-RJA | 880 CARILLON PARKWAY, SAINT PETERSBURG FL 33716 |
Christopher S Aisenbrey | officer: Chief Human Resources Officer | 880 CARILLON PARKWAY, SAINT PETERSBURG FL 33716 |
Bella Loykhter Allaire | officer: Executive Vice President-RJA | 880 CARILLON PARKWAY, ST. PETERSBURG FL 33716 |
Coulter James Robert Edward | officer: Director & CEO, RJ Ltd. | 40 KING STREET W, SUITE 5400, TORONTO A6 M5H 3Y2 |
Jonathan N Santelli | officer: EVP, Gen Counsel, Secy | 880 CARILLON PARKWAY, SAINT PETERSBURG FL 33716 |
Scott A Curtis | officer: President - RJFS | 880 CARILLON PARKWAY, ST PETERSBURG FL 33716 |
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