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Prologis (Prologis) Cyclically Adjusted Price-to-FCF : (As of Apr. 27, 2024)


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What is Prologis Cyclically Adjusted Price-to-FCF?

Shiller PE for Stocks: The True Measure of Stock Valuation


Prologis Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Prologis's Cyclically Adjusted Price-to-FCF 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.

Prologis Cyclically Adjusted Price-to-FCF Chart

Prologis Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 48.15 45.87 60.79 33.63 33.97

Prologis Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Cyclically Adjusted Price-to-FCF 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 35.70 33.64 29.09 33.97 -

Competitive Comparison of Prologis's Cyclically Adjusted Price-to-FCF

For the REIT - Industrial subindustry, Prologis'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.


Prologis's Cyclically Adjusted Price-to-FCF Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Prologis's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

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



Prologis Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Prologis's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2024 is calculated as:

For example, Prologis'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)
=1.106/129.4194*129.4194
=1.106

Current CPI (Mar. 2024) = 129.4194.

Prologis Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201406 0.429 100.560 0.552
201409 0.226 100.428 0.291
201412 0.805 99.070 1.052
201503 0.132 99.621 0.171
201506 0.490 100.684 0.630
201509 0.706 100.392 0.910
201512 0.604 99.792 0.783
201603 0.503 100.470 0.648
201606 0.606 101.688 0.771
201609 0.598 101.861 0.760
201612 0.698 101.863 0.887
201703 0.641 102.862 0.806
201706 0.711 103.349 0.890
201709 1.110 104.136 1.380
201712 0.590 104.011 0.734
201803 0.630 105.290 0.774
201806 0.765 106.317 0.931
201809 0.838 106.507 1.018
201812 0.808 105.998 0.987
201903 0.756 107.251 0.912
201906 0.776 108.070 0.929
201909 0.983 108.329 1.174
201912 0.941 108.420 1.123
202003 0.938 108.902 1.115
202006 0.883 108.767 1.051
202009 1.279 109.815 1.507
202012 0.789 109.897 0.929
202103 1.068 111.754 1.237
202106 0.849 114.631 0.959
202109 1.064 115.734 1.190
202112 0.936 117.630 1.030
202203 1.099 121.301 1.173
202206 1.049 125.017 1.086
202209 1.570 125.227 1.623
202212 1.347 125.222 1.392
202303 1.171 127.348 1.190
202306 1.277 128.729 1.284
202309 2.069 129.860 2.062
202312 1.128 129.419 1.128
202403 1.106 129.419 1.106

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


Prologis  (NYSE:PLD) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Prologis Cyclically Adjusted Price-to-FCF Related Terms

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


Prologis (Prologis) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Prologis Inc (NYSE:PLD) » Definitions » Cyclically Adjusted Price-to-FCF
Address
Pier 1, Bay 1, San Francisco, CA, USA, 94111
Prologis was formed by the June 2011 merger of AMB Property and Prologis Trust. The company develops, acquires, and operates around 1.2 billion square feet of high-quality industrial and logistics facilities across the globe. The company also has a strategic capital business segment that has around $60 billion of third-party AUM. The company is organized into four global divisions (Americas, Europe, Asia, and other Americas) and operates as a real estate investment trust.
Executives
James B. Connor director 600 E 96TH ST, #100, INDIANAPOLIS IN 46240
George L Fotiades director 281 SUMMIT AVENUE, SUMMIT NJ 07901
Daniel Letter officer: President PIER 1, BAY 1, SAN FRANCISCO CA 94111
David P Oconnor director C/O HIGH RISE, 325 NORTH AVENUE E, WESTFIELD NJ 07090
Avid Modjtabai director 420 MONTGOMERY STREET, 12TH FLOOR, SAN FRANCISCO CA 94104
Lyons Irving F Iii director C/O ESSEX PROPERTY TRUST, INC., 925 E. MEADOW DRIVE, PALO ALTO CA 94303
Timothy D Arndt officer: Chief Financial Officer PIER 1, BAY 1, SAN FRANCISCO CA 94111
William D Zollars director 10777 BARKLEY, PO BOX 7563, OVERLAND PARK KS 66207-0563
Hamid R Moghadam director, officer: Chairman & CEO PIER 1, BAY 1, SAN FRANCISCO CA 94111
Lydia H Kennard director 155 N LAKE AVE, PASADENA CA 91101
Jeffrey L Skelton director
Eugene F Reilly officer: Executive Vice President C/O AMB PROPERTY CORP, PIER I BAY 1, SAN FRANCISCO CA 94111
Thomas S Olinger officer: Chief Financial Officer C/O AMB PROPERTY CORPORATION, PIER 1, BAY 1, SAN FRANCISCO CA 94111
Philip L Hawkins director C/O CORPORATE OFFICE PROPERTIES TRUST, 6711 COLUMBIA GATEWAY DRIVE, #300, COLUMBIA MD 21046
Edward S Nekritz officer: Chief Legal Off./Gen. Counsel KATE MEADE, 14100 E 35TH PL, AURORA CO 80011

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