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Microsoft Excel LibreOffice Calc


Enterprise Value to FCFF (EV/FCFF)

Difficulty: Intermediate


Free Cash Flow to The Firm (FCFF)

3M Co., FCFF calculation

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Net income attributable to 3M hidden hidden hidden hidden hidden
Net income attributable to noncontrolling interest hidden hidden hidden hidden hidden
Net noncash charges hidden hidden hidden hidden hidden
Changes in assets and liabilities hidden hidden hidden hidden hidden
Net cash provided by operating activities hidden hidden hidden hidden hidden
Cash interest payments, net of tax1 hidden hidden hidden hidden hidden
Capitalized interest, net of tax2 hidden hidden hidden hidden hidden
Purchases of property, plant and equipment (PP&E) hidden hidden hidden hidden hidden
Free cash flow to the firm (FCFF) hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-13).

Item Description The company
FCFF Free cash flow to the firm is the cash flow available to the 3M Co.'s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. 3M Co.'s FCFF increased from 2015 to 2016 but then declined significantly from 2016 to 2017.

Interest Paid, Net of Tax

3M Co., interest paid, net of tax calculation

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Effective Income Tax Rate (EITR)
EITR1 hidden hidden hidden hidden hidden
Interest Paid, Net of Tax
Cash interest payments, before tax hidden hidden hidden hidden hidden
Less: Cash interest payments, tax2 hidden hidden hidden hidden hidden
Cash interest payments, net of tax hidden hidden hidden hidden hidden
Interest Costs Capitalized, Net of Tax
Capitalized interest, before tax hidden hidden hidden hidden hidden
Less: Capitalized interest, tax3 hidden hidden hidden hidden hidden
Capitalized interest, net of tax hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-13).

2017 Calculations

2 Cash interest payments, tax = Cash interest payments × EITR
= hidden × hidden = hidden

3 Capitalized interest, tax = Capitalized interest × EITR
= hidden × hidden = hidden


Enterprise Value to FCFF Ratio, Current

3M Co., current EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Selected Financial Data (USD $ in millions)
Enterprise value (EV) hidden
Free cash flow to the firm (FCFF) hidden
Ratio
EV/FCFF hidden
Benchmarks
EV/FCFF, Competitors
Danaher Corp. hidden
General Electric Co. hidden
Honeywell International Inc. hidden
EV/FCFF, Sector
General Industrials hidden
EV/FCFF, Industry
Industrials hidden

Based on: 10-K (filing date: 2018-02-08).

If company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.

Otherwise, if company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.


Enterprise Value to FCFF Ratio, Historical

3M Co., historical EV/FCFF calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Selected Financial Data (USD $ in millions)
Enterprise value (EV)1 hidden hidden hidden hidden hidden
Free cash flow to the firm (FCFF)2 hidden hidden hidden hidden hidden
Ratio
EV/FCFF3 hidden hidden hidden hidden hidden
Benchmarks
EV/FCFF, Competitors
Danaher Corp. hidden hidden hidden hidden hidden
General Electric Co. hidden hidden hidden hidden hidden
Honeywell International Inc. hidden hidden hidden hidden hidden
EV/FCFF, Sector
General Industrials hidden hidden hidden hidden hidden
EV/FCFF, Industry
Industrials hidden hidden hidden hidden hidden

Based on: 10-K (filing date: 2018-02-08), 10-K (filing date: 2017-02-09), 10-K (filing date: 2016-02-11), 10-K (filing date: 2015-02-12), 10-K (filing date: 2014-02-13).

2017 Calculations

3 EV/FCFF = EV ÷ FCFF
= hidden ÷ hidden = hidden

Ratio Description The company
EV/FCFF Enterprise value to free cash flow to the firm is whole company valuation indicator. 3M Co.'s EV/FCFF ratio increased from 2015 to 2016 and from 2016 to 2017.