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Flughafen Zuerich AG (XSWX:FHZN) Intrinsic Value: Projected FCF : CHF113.84 (As of Apr. 27, 2024)


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What is Flughafen Zuerich AG Intrinsic Value: Projected FCF?

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 (2024-04-27), Flughafen Zuerich AG's Intrinsic Value: Projected FCF is CHF113.84. The stock price of Flughafen Zuerich AG is CHF187.70. Therefore, Flughafen Zuerich AG's Price-to-Intrinsic-Value-Projected-FCF of today is 1.7.

The historical rank and industry rank for Flughafen Zuerich AG's Intrinsic Value: Projected FCF or its related term are showing as below:

XSWX:FHZN' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.09   Med: 1.36   Max: 1.7
Current: 1.65

During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Flughafen Zuerich AG was 1.70. The lowest was 1.09. And the median was 1.36.

XSWX:FHZN's Price-to-Projected-FCF is ranked worse than
73.96% of 699 companies
in the Transportation industry
Industry Median: 0.84 vs XSWX:FHZN: 1.65

Flughafen Zuerich AG Intrinsic Value: Projected FCF Historical Data

The historical data trend for Flughafen Zuerich AG's Intrinsic Value: Projected 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.

Flughafen Zuerich AG Intrinsic Value: Projected FCF Chart

Flughafen Zuerich AG Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Intrinsic Value: Projected FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 134.18 111.44 106.81 114.28 113.84

Flughafen Zuerich AG Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
Intrinsic Value: Projected 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 106.81 - 114.28 - 113.84

Competitive Comparison of Flughafen Zuerich AG's Intrinsic Value: Projected FCF

For the Airports & Air Services subindustry, Flughafen Zuerich AG's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-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.


Flughafen Zuerich AG's Price-to-Projected-FCF Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Flughafen Zuerich AG's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where Flughafen Zuerich AG's Price-to-Projected-FCF falls into.



Flughafen Zuerich AG Intrinsic Value: Projected FCF 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 Stockholders Equity.

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

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

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


Add all the Free Cash Flow together and divide 6 will get Flughafen Zuerich AG's Free Cash Flow(6 year avg) = CHF131.59.

Flughafen Zuerich AG's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF=(Growth Multiple*Free Cash Flow (6 year avg)+Total Stockholders Equity (Dec23)*0.8)/Shares Outstanding (Diluted Average)
=(9.5203515959648*131.59042857143+2803.5*0.8)/30.707
=113.84

* 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.


Flughafen Zuerich AG  (XSWX:FHZN) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders 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 median after taking the above ideas into consideration.

Flughafen Zuerich AG's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF=Share Price/Intrinsic Value: Projected FCF
=187.70/113.83681722942
=1.65

* 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.


Flughafen Zuerich AG Intrinsic Value: Projected FCF Related Terms

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Flughafen Zuerich AG (XSWX:FHZN) Business Description

Traded in Other Exchanges
Address
Zurich-Flughafen, Postfach, Zurich, CHE, CH-8058
Flughafen Zuerich AG owns and operates Zurich Airport, and offers services to international, domestic, and regional flights. Its services provided for passengers encompass activities related to the departure, arrival, and transfer areas at the airport. Revenue is split between aviation (majority of total revenue) and nonaviation services. Aviation services primarily derive from passenger and landing charges. Nonaviation services refer to retail and parking charges, sales from facility management, and other services provided at the airport. Passengers traveling within Europe cover approximately three fourths of total passengers, with many tourist cities being popular destinations.

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