Price to FCFE (P/FCFE)
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Bed Bath & Beyond Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Free Cash Flow to Equity (FCFE)
Bed Bath & Beyond Inc., FCFE calculation
US$ in thousands
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
- Net Cash Provided by Operating Activities
- The net cash generated from operating activities shows a generally declining trend over the six-year period. Starting at 1,041,788 thousand USD in 2017, the figure decreased to 859,689 thousand USD in 2018, followed by a slight recovery to 918,278 thousand USD in 2019. Subsequently, there was a significant decline to 590,941 thousand USD in 2020, which continued sharply downward to 268,108 thousand USD in 2021, and finally reached a low of 17,854 thousand USD in 2022. This trend indicates a deteriorating ability to generate cash from core business operations over time.
- Free Cash Flow to Equity (FCFE)
- The free cash flow to equity experienced a parallel decline in the same period. Initially, it was positive at 668,214 thousand USD in 2017, then reduced markedly to 483,896 thousand USD in 2018. There was a slight increase to 588,688 thousand USD in 2019, but from 2020 onward, the values turned negative. In 2020, FCFE dropped sharply to 313,540 thousand USD, and then moved into negative territory with -136,396 thousand USD in 2021 and further declined to -348,724 thousand USD in 2022. This suggests increasing cash outflows to equity holders, reflecting potential financial stress or higher investment needs not supported by operating cash flow.
- Overall Analysis
- Both operating cash flow and free cash flow to equity reveal a weakening financial position over the reviewed years. The declining operating cash flow indicates reduced operational efficiency or business scale contraction. The shift to negative FCFE from 2021 signals that the company may be relying on external financing or depleting reserves to sustain equity returns. This trend points to potential challenges in liquidity and cash management that may warrant closer attention from management and stakeholders.
Price to FCFE Ratio, Current
Bed Bath & Beyond Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Amazon.com Inc. | |
| Home Depot Inc. | |
| Lowe’s Cos. Inc. | |
| TJX Cos. Inc. | |
| P/FCFE, Sector | |
| Consumer Discretionary Distribution & Retail | |
| P/FCFE, Industry | |
| Consumer Discretionary | |
Based on: 10-K (reporting date: 2022-02-26).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Bed Bath & Beyond Inc., historical P/FCFE calculation, comparison to benchmarks
| Feb 26, 2022 | Feb 27, 2021 | Feb 29, 2020 | Mar 2, 2019 | Mar 3, 2018 | Feb 25, 2017 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in thousands)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Amazon.com Inc. | |||||||
| Home Depot Inc. | |||||||
| Lowe’s Cos. Inc. | |||||||
| TJX Cos. Inc. | |||||||
| P/FCFE, Sector | |||||||
| Consumer Discretionary Distribution & Retail | |||||||
| P/FCFE, Industry | |||||||
| Consumer Discretionary | |||||||
Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).
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 Bed Bath & Beyond Inc. Annual Report.
5 2022 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price
- The share price demonstrated a downward trend from US$39.36 in February 2017 to a low of US$6.59 in February 2020, suggesting a significant decline in market valuation over this period. Following this low, there was a partial recovery to US$26.42 in February 2021, before decreasing again to US$16.34 in February 2022, indicating continued volatility and uncertainty in market perception.
- Free Cash Flow to Equity (FCFE) per Share
- FCFE per share declined from US$4.6 in February 2017 to US$2.48 in February 2020, reflecting reduced cash generation available to equity holders. Notably, the FCFE turned negative in the last two years reported, at -US$1.25 in February 2021 and further worsening to -US$4.37 in February 2022, signaling deteriorating financial health and cash flow challenges.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio decreased consistently from 8.55 in 2017 to 2.66 in 2020, which might imply either a falling share price relative to FCFE or improving valuation multiples. However, data for the years 2021 and 2022 is missing, likely due to negative FCFE values during these years, which makes the ratio inapplicable or not meaningful.