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AGF Management (TSX:AGF.B) Cyclically Adjusted Price-to-FCF : 9.84 (As of Apr. 28, 2024)


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What is AGF Management Cyclically Adjusted Price-to-FCF?

As of today (2024-04-28), AGF Management's current share price is C$8.07. AGF Management's Cyclically Adjusted FCF per Share for the quarter that ended in Feb. 2024 was C$0.82. AGF Management's Cyclically Adjusted Price-to-FCF for today is 9.84.

The historical rank and industry rank for AGF Management's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

TSX:AGF.B' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 3.04   Med: 9.56   Max: 62.85
Current: 9.87

During the past years, AGF Management's highest Cyclically Adjusted Price-to-FCF was 62.85. The lowest was 3.04. And the median was 9.56.

TSX:AGF.B's Cyclically Adjusted Price-to-FCF is ranked better than
68.64% of 507 companies
in the Asset Management industry
Industry Median: 20.19 vs TSX:AGF.B: 9.87

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.

AGF Management's adjusted free cash flow per share data for the three months ended in Feb. 2024 was C$-0.396. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is C$0.82 for the trailing ten years ended in Feb. 2024.

Shiller PE for Stocks: The True Measure of Stock Valuation


AGF Management Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for AGF Management'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.

AGF Management Cyclically Adjusted Price-to-FCF Chart

AGF Management Annual Data
Trend Nov14 Nov15 Nov16 Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 26.26 43.85 14.19 8.36 9.23

AGF Management Quarterly Data
May19 Aug19 Nov19 Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24
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 11.99 9.11 10.00 9.23 9.95

Competitive Comparison of AGF Management's Cyclically Adjusted Price-to-FCF

For the Asset Management subindustry, AGF Management'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.


AGF Management's Cyclically Adjusted Price-to-FCF Distribution in the Asset Management Industry

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

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



AGF Management 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.

AGF Management's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=8.07/0.82
=9.84

* 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.

AGF Management's Cyclically Adjusted FCF per Share for the quarter that ended in Feb. 2024 is calculated as:

For example, AGF Management's adjusted Free Cash Flow per Share data for the three months ended in Feb. 2024 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Feb. 2024 (Change)*Current CPI (Feb. 2024)
=-0.396/125.4675*125.4675
=-0.396

Current CPI (Feb. 2024) = 125.4675.

AGF Management Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201405 0.272 99.394 0.343
201408 0.316 99.315 0.399
201411 0.430 99.078 0.545
201502 -0.297 99.078 -0.376
201505 0.307 100.263 0.384
201508 0.302 100.579 0.377
201511 0.262 100.421 0.327
201602 -0.248 100.421 -0.310
201605 0.304 101.765 0.375
201608 0.218 101.686 0.269
201611 0.343 101.607 0.424
201702 -0.312 102.476 -0.382
201705 0.337 103.108 0.410
201708 0.321 103.108 0.391
201711 0.358 103.740 0.433
201802 -0.343 104.688 -0.411
201805 0.494 105.399 0.588
201808 0.237 106.031 0.280
201811 0.283 105.478 0.337
201902 -0.096 106.268 -0.113
201905 0.330 107.927 0.384
201908 0.266 108.085 0.309
201911 0.331 107.769 0.385
202002 -0.171 108.559 -0.198
202005 0.322 107.532 0.376
202008 0.294 108.243 0.341
202011 0.720 108.796 0.830
202102 -0.567 109.745 -0.648
202105 -0.625 111.404 -0.704
202108 0.756 112.668 0.842
202111 0.357 113.932 0.393
202202 -0.433 115.986 -0.468
202205 0.156 120.016 0.163
202208 0.538 120.569 0.560
202211 0.459 121.675 0.473
202302 -0.272 122.070 -0.280
202305 0.375 124.045 0.379
202308 0.607 125.389 0.607
202311 0.537 125.468 0.537
202402 -0.396 125.468 -0.396

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.


AGF Management  (TSX:AGF.B) 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.


AGF Management Cyclically Adjusted Price-to-FCF Related Terms

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AGF Management (TSX:AGF.B) Business Description

Traded in Other Exchanges
Address
81 Bay Street, Suite 3900, CIBC SQUARE, Tower One, Toronto, ON, CAN, M5J 0G1
AGF Management is a Canada-based asset manager with operations and investments in Canada, the United States, the United Kingdom, Ireland, and Asia. At the end of September, the firm had CAD 41.0 billion in total assets under management. Its funds are weighted more heavily toward equities, with close to three fourths of retail AUM being equity-related. That said, the company does use fundamental, quantitative, and alternative strategies to manage its investment funds. AGF Management has a more meaningful portion of its business tied to institutional clients than its peers, with one fourth of its total AUM derived from institutional and subadvised accounts. The company derives 17% of its managed assets from high-net-worth clients.

AGF Management (TSX:AGF.B) Headlines

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