Free Cash Flow to The Firm (FCFF)
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).
Item | Description | The company |
---|---|---|
FCFF | Free cash flow to the firm is the cash flow available to the ON Semiconductor Corp. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | ON Semiconductor Corp. FCFF increased from 2020 to 2021 and from 2021 to 2022. |
Interest Paid, Net of Tax
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).
2 2022 Calculation
Cash paid for interest expense, tax = Cash paid for interest expense × EITR
= 80,700 × 19.40% = 15,656
Enterprise Value to FCFF Ratio, Current
Selected Financial Data (US$ in thousands) | |
Enterprise value (EV) | 35,889,798) |
Free cash flow to the firm (FCFF) | 1,695,844) |
Valuation Ratio | |
EV/FCFF | 21.16 |
Benchmarks | |
EV/FCFF, Competitors1 | |
Advanced Micro Devices Inc. | 48.57 |
Analog Devices Inc. | 26.68 |
Applied Materials Inc. | 22.28 |
Broadcom Inc. | 16.74 |
First Solar Inc. | — |
Intel Corp. | — |
KLA Corp. | 18.79 |
Lam Research Corp. | 27.04 |
Micron Technology Inc. | 21.10 |
NVIDIA Corp. | 170.57 |
Qualcomm Inc. | 20.37 |
Texas Instruments Inc. | 27.60 |
EV/FCFF, Sector | |
Semiconductors & Semiconductor Equipment | 38.35 |
EV/FCFF, Industry | |
Information Technology | 28.35 |
Based on: 10-K (reporting date: 2022-12-31).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | ||||||
Enterprise value (EV)1 | 35,060,420) | 27,134,222) | 19,667,423) | 11,331,972) | 10,974,357) | |
Free cash flow to the firm (FCFF)2 | 1,695,844) | 1,366,294) | 595,389) | 241,736) | 866,720) | |
Valuation Ratio | ||||||
EV/FCFF3 | 20.67 | 19.86 | 33.03 | 46.88 | 12.66 | |
Benchmarks | ||||||
EV/FCFF, Competitors4 | ||||||
Advanced Micro Devices Inc. | 38.82 | 43.41 | 126.98 | 169.58 | — | |
Analog Devices Inc. | 23.12 | 39.16 | 27.12 | 21.68 | 16.04 | |
Applied Materials Inc. | 19.06 | 26.22 | 22.52 | 18.91 | 9.96 | |
Broadcom Inc. | 14.74 | 19.47 | 16.54 | 15.04 | 13.02 | |
First Solar Inc. | — | — | — | — | — | |
Intel Corp. | — | 16.94 | 11.08 | 17.39 | 15.50 | |
KLA Corp. | 19.05 | 26.29 | 18.70 | 20.92 | 14.15 | |
Lam Research Corp. | 24.03 | 24.02 | 25.91 | 9.83 | 10.36 | |
Micron Technology Inc. | 18.28 | 33.81 | 292.39 | 14.33 | 5.37 | |
NVIDIA Corp. | 78.07 | 69.47 | 41.65 | 27.92 | 47.71 | |
Qualcomm Inc. | 18.20 | 17.47 | 30.89 | 14.91 | 22.53 | |
Texas Instruments Inc. | 27.05 | 24.23 | 27.67 | 20.75 | 16.49 | |
EV/FCFF, Sector | ||||||
Semiconductors & Semiconductor Equipment | 35.05 | 26.37 | 22.31 | 18.50 | 15.89 | |
EV/FCFF, Industry | ||||||
Information Technology | 26.63 | 28.03 | 26.16 | 21.64 | 18.26 |
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).
3 2022 Calculation
EV/FCFF = EV ÷ FCFF
= 35,060,420 ÷ 1,695,844 = 20.67
4 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | ON Semiconductor Corp. EV/FCFF ratio decreased from 2020 to 2021 but then slightly increased from 2021 to 2022. |