Enterprise Value to FCFF (EV/FCFF)
Free Cash Flow to The Firm (FCFF)
Altria Group Inc., FCFF calculation
US$ in millions
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Altria Group Inc. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Altria Group Inc. FCFF decreased from 2018 to 2019 but then increased from 2019 to 2020 exceeding 2018 level. |
Interest Paid, Net of Tax
Altria Group Inc., interest paid, net of tax calculation
US$ in millions
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
2 2020 Calculation
Cash paid, interest, tax = Cash paid, interest × EITR
= 1,246 × 35.40% = 441
Enterprise Value to FCFF Ratio, Current
Altria Group Inc., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 116,627 |
| Free cash flow to the firm (FCFF) | 8,959 |
| Valuation Ratio | |
| EV/FCFF | 13.02 |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Coca-Cola Co. | 30.97 |
| Mondelēz International Inc. | 32.93 |
| PepsiCo Inc. | 37.72 |
| Philip Morris International Inc. | 18.83 |
| EV/FCFF, Sector | |
| Food, Beverage & Tobacco | 25.18 |
| EV/FCFF, Industry | |
| Consumer Staples | 27.41 |
Based on: 10-K (reporting date: 2020-12-31).
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
Altria Group Inc., historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 105,651 | 104,984 | 122,073 | 134,273 | 153,976 | |
| Free cash flow to the firm (FCFF)2 | 8,959 | 8,462 | 8,679 | 5,260 | 4,107 | |
| Valuation Ratio | ||||||
| EV/FCFF3 | 11.79 | 12.41 | 14.07 | 25.53 | 37.49 | |
| Benchmarks | ||||||
| EV/FCFF, Competitors4 | ||||||
| Coca-Cola Co. | 26.04 | 28.08 | 32.62 | 36.36 | 28.13 | |
| Mondelēz International Inc. | 28.50 | 29.63 | 26.47 | 42.31 | 38.75 | |
| PepsiCo Inc. | 30.09 | 35.73 | 24.55 | 22.21 | 20.92 | |
| Philip Morris International Inc. | 16.31 | 16.47 | 16.76 | 23.52 | 24.24 | |
| EV/FCFF, Sector | ||||||
| Food, Beverage & Tobacco | 21.25 | 23.13 | 21.52 | 27.66 | 27.34 | |
| EV/FCFF, Industry | ||||||
| Consumer Staples | 22.76 | 22.90 | 19.98 | 21.10 | 22.70 | |
Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).
3 2020 Calculation
EV/FCFF = EV ÷ FCFF
= 105,651 ÷ 8,959 = 11.79
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. | Altria Group Inc. EV/FCFF ratio decreased from 2018 to 2019 and from 2019 to 2020. |