GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Aryzta AG (CHIX:ARYNz) » Definitions » Free Cash Flow

Aryzta AG (CHIX:ARYNZ) Free Cash Flow : CHF191 Mil (TTM As of Jun. 2024)


View and export this data going back to 2009. Start your Free Trial

What is Aryzta AG Free Cash Flow?

Aryzta AG's total free cash flow for the months ended in Jun. 2024 was CHF83 Mil. Its total free cash flow for the trailing twelve months (TTM) ended in Jun. 2024 was CHF191 Mil.

Aryzta AG's Free Cash Flow per Share for the months ended in Jun. 2024 was CHF0.08. Its free cash flow per share for the trailing twelve months (TTM) ended in Jun. 2024 was CHF0.19.

During the past 12 months, the average Free Cash Flow per Share Growth Rate of Aryzta AG was 7.90% per year. During the past 3 years, the average Free Cash Flow per Share Growth Rate was -8.60% 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 Free Cash Flow Growth Rate using Free Cash Flow per Share data.

During the past 13 years, Aryzta AG's highest 3-Year average Free Cash Flow per Share Growth Rate was 36.50% per year. The lowest was -68.50% per year. And the median was -8.35% per year.


Aryzta AG Free Cash Flow Historical Data

The historical data trend for Aryzta AG's Free Cash Flow 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.

Aryzta AG Free Cash Flow Chart

Aryzta AG Annual Data
Trend Jul13 Jul14 Jul15 Jul16 Jul17 Jul18 Jul19 Jul20 Jul21 Jul22
Free Cash Flow
Get a 7-Day Free Trial Premium Member Only Premium Member Only 73.40 118.29 -81.69 -4.01 109.25

Aryzta AG Semi-Annual Data
Jul14 Jan15 Jul15 Jan16 Jul16 Jan17 Jul17 Jan18 Jul18 Jan19 Jul19 Jan20 Jul20 Jan21 Jul21 Jan22 Jul22 Jan23 Jul23 Jun24
Free Cash Flow 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 8.63 101.06 75.88 108.17 83.13

Aryzta AG Free Cash Flow Calculation

Free Cash Flow is considered one of the most important parameters to measure a company's earnings power by value investors because it is not subject to estimates of Depreciation, Depletion and Amortization (DDA). However, when we look at the Free Cash Flow, we should look from a long term perspective, because any year's Free Cash Flow can be drastically affected by the spending on Property, Plant, & Equipment (PPE) of the business in that year. Over the long term, Free Cash Flow should give pretty good picture on the real earnings power of the company.

Aryzta AG's Free Cash Flow for the fiscal year that ended in Jul. 2022 is calculated as

Free Cash Flow (A: Jul. 2022 )=Cash Flow from Operations+Capital Expenditure
=197.474+-88.227
=109

Aryzta AG's Free Cash Flow for the quarter that ended in Jun. 2024 is calculated as

Free Cash Flow (Q: Jun. 2024 )=Cash Flow from Operations+Capital Expenditure
=123.15+-40.024
=83

Free Cash Flow for the trailing twelve months (TTM) ended in Jun. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was CHF191 Mil.

* 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.


Aryzta AG  (CHIX:ARYNz) Free Cash Flow Explanation

Free Cash Flow is very close to Warren Buffett's definition of Owner's Earnings, except that in Warren Buffett's Owner's Earnings, the spending for Property, Plant, and Equipment is only for maintenance (replacement), while in the Free Cash Flow calculation, the cost of new Property, Plant, and Equipment due to business expansion is also deducted. There, Free Cash Flow is more conservative than Owner's Earnings.

In Don Yacktman's calculation of forward rate of return, he uses Free Cash Flow for the calculation. Yacktman explained the forward rate of return concept in detail in his interview with GuruFocus. Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation.

This is what Yacktman said in his March 2012 interview - when the S&P 500 was at 1400:

If the business is stable, this calculation is fairly straightforward. For instance, on the S&P 500 we would normalize earnings. We would then calculate what percentage of those earnings are not reinvested in the underlying businesses and are therefore free. Historically, for the S&P 500, this has been just under 50% of earnings. Currently, we expect the S&P to earn about 70 on a normalized basis, a number which is far below reported earnings due to our adjusting for record high profit margins. $70 X ½ / 1400 gives you a normalized free cash flow yield of approximately 2.5%.

The historical real growth rate of the S&P 500 (companies) is about 1.5%. Assuming an inflation rate of 2.5%, the forward rate of return on an investment in the S&P 500 is about 6.5% today (2.5% free cash flow yield plus 1.5% real growth plus 2.5% inflation).

For the growth part of the Forward Rate of Return calculation, GuruFocus uses the 5-year average growth rate of EBITDA per share as the growth rate, and the growth rate is always capped at 20%. For the Free Cash Flow we use per share data averaged over seven years. The reason we use seven years is because research shows that seven years is the length of the typical business cycle.

Therefore, as of Jul22, Aryzta AG's Forward Rate of Return (Yacktman) % is

Forward Rate of Return (Yacktman) % (Jul22)=Normalized Free Cash Flow/Price+5-Year EBITDA Growth Rate
=2.07183333/0+-0.0531
=0 %

* 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.


Be Aware

Free Cash Flow within a report period can be affected by management's decisions of capital spending. Therefore, it is important to look at long term when it comes to Free Cash Flow.


Aryzta AG Free Cash Flow Related Terms

Thank you for viewing the detailed overview of Aryzta AG's Free Cash Flow provided by GuruFocus.com. Please click on the following links to see related term pages.


Aryzta AG Business Description

Traded in Other Exchanges
Address
Ifangstrasse 9, Schlieren, CHE, 8952
Aryzta AG is an international specialist food company. Geographically, it has a presence in Switzerland, Germany, France, and other countries. By product segment, bread rolls and artisan loaves is the substantial segment, followed by sweet baked & morning goods, and Savoury & Other. The Company has two operating and reporting segments, ARYZTA Europe and ARYZTA Rest of World, which comprise the continuing operations of the Group.

Aryzta AG Headlines

No Headlines