Charter Communications Inc. (CHTR)

Price to FCFE (P/FCFE)

Difficulty: Intermediate

Charter Communications Inc., FCFE calculation

USD $ in millions

	12 months ended	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
	Net income (loss) attributable to Charter shareholders
	Net income attributable to noncontrolling interests
	Net noncash charges
	Changes in operating assets and liabilities, net of effects from acquisitions and dispositions
	Net cash flows from operating activities
	Purchases of property, plant and equipment
	Borrowings of long-term debt
	Repayments of long-term debt
	Payments for debt issuance costs
	Free cash flow to equity (FCFE)

Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Charter Communications Inc.'s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Charter Communications Inc.'s FCFE declined from 2015 to 2016 but then increased from 2016 to 2017 not reaching 2015 level.

Charter Communications Inc., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding
Selected Financial Data (USD $)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors
Comcast Corp.
Twenty-First Century Fox Inc.
Walt Disney Co.
P/FCFE, Sector
Media
P/FCFE, Industry
Consumer Services

If company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.

Otherwise, if company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Charter Communications Inc., historical P/FCFE calculation, comparison to benchmarks

		Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
	No. shares of common stock outstanding¹
	Selected Financial Data (USD $)
	Free cash flow to equity (FCFE) (in millions)²
	FCFE per share⁴
	Share price^1, 3
	Ratio
	P/FCFE⁵
	Benchmarks
	P/FCFE, Competitors
	Comcast Corp.
	Twenty-First Century Fox Inc.
	Walt Disney Co.
	P/FCFE, Sector
	Media
	P/FCFE, Industry
	Consumer Services

¹ Data adjusted for splits and stock dividends.

³ Close price on the filing date of Charter Communications Inc.'s Annual Report.

2017 Calculations

⁴ FCFE per share = FCFE ÷ No. shares of common stock outstanding
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⁵ P/FCFE = Share price ÷ FCFE per share
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Ratio	Description	The company
P/FCFE	Price to free cash flow to equity is cash valuation indicator of stockholders' equity.	Charter Communications Inc.'s P/FCFE ratio increased from 2015 to 2016 but then slightly declined from 2016 to 2017 not reaching 2015 level.

	Charter Communications Inc.	Other companies (not purchased previously)
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality

	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality