Price to FCFE (P/FCFE)
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Take-Two Interactive Software Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Free Cash Flow to Equity (FCFE)
Take-Two Interactive Software Inc., FCFE calculation
US$ in thousands
Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).
- Operating Activities Cash Flow
- There is a clear downward trend in the net cash provided by operating activities over the observed periods. Starting from a high of 685,678 thousand US dollars in the year ending March 31, 2020, the cash flow increased significantly to 912,318 thousand US dollars by March 31, 2021. However, this was followed by a sharp decline to 257,984 thousand US dollars in March 31, 2022, and an even steeper drop to 1,100 thousand US dollars by the end of March 31, 2023. The trend continues negatively with cash flows moving to negative figures of -16,100 thousand US dollars and -45,200 thousand US dollars for the years ending March 31, 2024, and March 31, 2025, respectively.
- Free Cash Flow to Equity (FCFE)
- The FCFE shows a more volatile yet overall fluctuating pattern. After a strong position at 632,294 thousand US dollars in March 31, 2020, it rose substantially to 843,395 thousand US dollars in March 31, 2021. This was followed by a sharp decrease to 86,958 thousand US dollars by March 31, 2022. Interestingly, the FCFE surged again to 1,656,600 thousand US dollars in March 31, 2023, marking the highest value observed in the data sets. Subsequently, FCFE experienced a steep decline into a negative territory of -158,800 thousand US dollars in March 31, 2024, before rebounding to a positive figure of 370,600 thousand US dollars in March 31, 2025.
- Overall Analysis
- The operating cash flows exhibit a sustained deterioration over the period, culminating in negative cash flows in the later years. Contrarily, free cash flow to equity, despite its volatility, demonstrates periods of recovery following declines, including a notable peak in 2023. The divergence between operating cash flows and FCFE in some years, particularly 2023 and onwards, suggests that changes in financing activities or capital expenditures may have significantly influenced equity cash flows. The negative operating cash flows paired with fluctuating FCFE levels might indicate operational challenges or shifts in working capital management combined with strategic financial decisions impacting equity holders.
Price to FCFE Ratio, Current
Take-Two Interactive Software Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in thousands) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Alphabet Inc. | |
| Comcast Corp. | |
| Meta Platforms Inc. | |
| Netflix Inc. | |
| Walt Disney Co. | |
| P/FCFE, Sector | |
| Media & Entertainment | |
| P/FCFE, Industry | |
| Communication Services | |
Based on: 10-K (reporting date: 2025-03-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Take-Two Interactive Software Inc., historical P/FCFE calculation, comparison to benchmarks
| Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 | Mar 31, 2022 | Mar 31, 2021 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||
| Selected Financial Data (US$) | |||||||
| Free cash flow to equity (FCFE) (in thousands)2 | |||||||
| FCFE per share3 | |||||||
| Share price1, 4 | |||||||
| Valuation Ratio | |||||||
| P/FCFE5 | |||||||
| Benchmarks | |||||||
| P/FCFE, Competitors6 | |||||||
| Alphabet Inc. | |||||||
| Comcast Corp. | |||||||
| Meta Platforms Inc. | |||||||
| Netflix Inc. | |||||||
| Walt Disney Co. | |||||||
| P/FCFE, Sector | |||||||
| Media & Entertainment | |||||||
| P/FCFE, Industry | |||||||
| Communication Services | |||||||
Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).
1 Data adjusted for splits and stock dividends.
3 2025 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Take-Two Interactive Software Inc. Annual Report.
5 2025 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price Trend
- The share price of the company exhibited notable fluctuations over the analyzed periods. Starting at $140.51 on March 31, 2020, the price increased significantly to $179.35 by March 31, 2021. This was followed by a decline to $123.08 in March 2022. After this drop, the price gradually climbed again to $138.98 in March 2023 and further to $150.61 by March 2024. The most substantial surge occurred in the final period ending March 31, 2025, reaching $237.50, the highest observed value.
- FCFE per Share Analysis
- The Free Cash Flow to Equity (FCFE) per share demonstrated considerable volatility and did not follow a steady upward or downward trend. Initial growth is noted from $5.55 in 2020 to $7.29 in 2021, indicating improving cash flow generation. However, a sharp decline occurred in the following year, dropping to $0.75 in 2022. This was reversed dramatically in 2023 with a peak of $9.78, the highest FCFE per share across the periods. Subsequently, the metric turned negative at -$0.93 in 2024, signaling potential cash flow challenges, before recovering somewhat to $2.09 in 2025.
- P/FCFE Ratio Dynamics
- The Price to FCFE ratio reflects stock price relative to cash flow and experienced extreme variability. Initially stable around 25.32 in 2020 and 24.59 in 2021, the ratio escalated sharply to 163.92 in 2022, likely driven by a steep drop in FCFE per share combined with a falling share price. In 2023, the ratio dropped significantly to 14.21, indicating more favorable valuation relative to cash flow. There is a missing value for 2024, limiting analysis for that year. By 2025, the ratio rose again to 113.7, corresponding with a share price surge despite relatively low FCFE per share, suggesting increased market valuation or lower cash flow generation in that period.
- Overall Insights
- The company’s stock price and FCFE per share display considerable fluctuations, with no clear linear trend. The sharp swings in P/FCFE ratios reflect variable market valuation sentiments combined with irregular cash flow performance. The negative FCFE in 2024 is a notable anomaly, indicating potential operational or investment challenges affecting free cash flow. Despite volatility, the substantial increase in share price in 2025 points to strong market optimism or other value drivers not captured by FCFE alone.