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Australia and New Zealand Banking Group Ltd  (OTCPK:ANZBY) Intrinsic Value: Projected FCF: $45.59 (As of Today)

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today, Australia and New Zealand Banking Group Ltd's projected FCF intrinsic value is $45.59. The stock price of Australia and New Zealand Banking Group Ltd is $23.93. Therefore, Australia and New Zealand Banking Group Ltd's Price to Intrinsic Value: Projected FCF Ratio of today is 0.5.

OTCPK:ANZBY' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0   Max: 5.79
Current: 0.52

0
5.79

During the past 13 years, the highest Price to Intrinsic Value: Projected FCF Ratio of Australia and New Zealand Banking Group Ltd was 5.79. The lowest was 0.00. And the median was 0.85.

OTCPK:ANZBY's Price-to-Intrinsic-Value-Projected-FCF is ranked lower than
99.99% of the 896 Companies
in the Global industry.

( Industry Median: 0.79 vs. OTCPK:ANZBY: 0.52 )

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

* Premium members only.

Australia and New Zealand Banking Group Ltd Annual Data

Sep07 Sep08 Sep09 Sep10 Sep11 Sep12 Sep13 Sep14 Sep15 Sep16
Intrinsic Value: Projected FCF Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.91 33.66 37.11 40.19 43.67

Australia and New Zealand Banking Group Ltd Semi-Annual Data

Sep07 Mar08 Sep08 Mar09 Sep09 Mar10 Sep10 Mar11 Sep11 Mar12 Sep12 Mar13 Sep13 Mar14 Sep14 Mar15 Sep15 Mar16 Sep16 Mar17
Intrinsic Value: Projected FCF 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 0.00 40.19 0.00 43.67 0.00

Competitive Comparison
* 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.


Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of total equity.

Value = ((Growth Multiple)*Free Cash Flow(6 year avg) + 0.8*Total Equity(most recent))/Shares Outstanding (Diluted Average)

In the case of negative total equity, the following formula is used (see the Total Equity section for the reason):

Value = ((Growth Multiple)*Free Cash Flow(6 year avg) + Total Equity(most recent)/0.8)/Shares Outstanding (Diluted Average)


Here Australia and New Zealand Banking Group Ltd's FCF(6 year avg) is calculate as

Australia and New Zealand Banking Group Ltd Annual Data

total_freecashflow

Add all the adjusted EPS together and divide 6 will get Australia and New Zealand Banking Group Ltd's FCF(6 year avg) = $.

Australia and New Zealand Banking Group Ltd's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value=(Growth Multiple*Free Cash Flow(6 year avg)+Total Equity(Sep16)*0.8)/Shares Outstanding (Diluted Average)
=(9.52035159596*11493.5761414+43901.2908125*0.8)/3015.848
=47.93

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

The growth multiple is capped between 8.35 and 17.74.

Total equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy medium after taking the above ideas into consideration. Learn more here.

Australia and New Zealand Banking Group Ltd's Price to Intrinsic Value: Projected FCF Ratio for today is calculated as

Price to Intrinsic Value: Projected FCF=Share Price/Intrinsic Value: Projected FCF
=23.93/47.9281179326
=0.50

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


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