Price to FCFE (P/FCFE)
Paying user area
Try for free
Axon Enterprise Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Axon Enterprise Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Free Cash Flow to Equity (FCFE)
Axon Enterprise Inc., FCFE calculation
US$ in thousands
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Net cash provided by operating activities
- The net cash provided by operating activities exhibited an overall increasing trend over the five-year period. It started at $63,875 thousand in 2018, with a slight increase to $65,673 thousand in 2019. There was a significant decline in 2020, dropping to $38,481 thousand, which could indicate operational challenges or external factors impacting cash flow. However, the cash flow sharply rebounded in the subsequent years, reaching $124,494 thousand in 2021 and further surging to $235,361 thousand in 2022, marking the highest recorded amount across the period.
- Free cash flow to equity (FCFE)
- The FCFE demonstrated more variability compared to operating cash flow. Starting at $52,178 thousand in 2018, it slightly decreased to $49,330 thousand in 2019. In 2020, FCFE experienced a notable negative value of -$34,294 thousand, indicating a net outflow to equity holders in that year, potentially due to higher investments or financing adjustments. The following years showed recovery with a positive FCFE of $74,259 thousand in 2021 and a substantial increase to $658,314 thousand in 2022. This dramatic rise in 2022 suggests a significant improvement in the company's ability to generate cash available for equity shareholders, possibly due to strengthened operations or reduced capital expenditures.
- Overall insight
- The data reveals that after a period of stress in 2020, both operating cash flow and FCFE demonstrated strong recovery and growth. The considerable increase in 2022 in both metrics underscores improved operational efficiency and financial strength. The negative FCFE in 2020 highlights the challenges faced that year, but the subsequent years' recovery indicates effective management response and enhanced cash generation capacity.
Price to FCFE Ratio, Current
Axon Enterprise Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Boeing Co. | |
| Caterpillar Inc. | |
| Eaton Corp. plc | |
| GE Aerospace | |
| Honeywell International Inc. | |
| Lockheed Martin Corp. | |
| RTX Corp. | |
| P/FCFE, Sector | |
| Capital Goods | |
| P/FCFE, Industry | |
| Industrials | |
Based on: 10-K (reporting date: 2022-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Axon Enterprise Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in thousands)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Boeing Co. | ||||||
| Caterpillar Inc. | ||||||
| Eaton Corp. plc | ||||||
| GE Aerospace | ||||||
| Honeywell International Inc. | ||||||
| Lockheed Martin Corp. | ||||||
| RTX Corp. | ||||||
| P/FCFE, Sector | ||||||
| Capital Goods | ||||||
| P/FCFE, Industry | ||||||
| Industrials | ||||||
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
1 Data adjusted for splits and stock dividends.
3 2022 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Axon Enterprise Inc. Annual Report.
5 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
The data reveals several notable trends in the financial metrics analyzed over the five-year period ending December 31, 2022. The share price exhibited significant growth overall, increasing from $55.49 in 2018 to $200.31 in 2022, despite a dip observed in 2021.
The Free Cash Flow to Equity (FCFE) per share showed variability with an initial slight decline from $0.89 in 2018 to $0.83 in 2019, followed by a negative value of -$0.54 in 2020, indicating a cash outflow to equity holders during that year. This was succeeded by a recovery to $1.05 in 2021 and a substantial increase to $9.04 in 2022, suggesting improved cash generation capacity in the most recent period.
The Price to FCFE (P/FCFE) ratio displayed corresponding fluctuations. Starting at 62.56 in 2018, it rose sharply to 93.37 in 2019, was not reported in 2020 (likely due to the negative FCFE), then escalated further to 128.13 in 2021, before markedly declining to 22.17 in 2022. This lower ratio in the final year suggests a more attractive valuation relative to FCFE per share due to the significant increase in FCFE.
- Share Price Trend
- Strong upward trajectory overall, with a peak in 2022 at $200.31, despite a decrease in 2021 compared to 2020.
- FCFE per Share Trend
- Fluctuating trend with a negative value in 2020, indicating cash flow challenges, followed by recovery and substantial growth by 2022.
- P/FCFE Ratio Trend
- High valuation ratios through 2018-2021 with a missing data point in 2020 due to negative FCFE, then a sharp decline in 2022 reflecting improved cash flow performance and valuation.
- Insights
- The sharp increase in FCFE per share in 2022, alongside the decreased P/FCFE ratio, implies enhanced operational efficiency or capital distribution, possibly making the company's shares more attractive from a cash flow perspective. The volatility observed in FCFE and P/FCFE ratios highlights variability in cash flow generation over this period.