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Enterprise Value to FCFF (EV/FCFF)
Difficulty: Intermediate
Free Cash Flow to The Firm (FCFF)
Bristol-Myers Squibb Co., FCFF calculation
USD $ in millions
Based on: 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13), 10-K (filing date: 2014-02-14).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Bristol-Myers Squibb Co.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Bristol-Myers Squibb Co.’s FCFF increased from 2015 to 2016 and from 2016 to 2017. |
Interest Paid, Net of Tax
Bristol-Myers Squibb Co., interest paid, net of tax calculation
USD $ in millions
Based on: 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13), 10-K (filing date: 2014-02-14).
2017 Calculations
2 Interest payments, tax = Interest payments × EITR
= × =
Enterprise Value to FCFF Ratio, Current
Bristol-Myers Squibb Co., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (USD $ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors | |
| Abbott Laboratories | |
| AbbVie Inc. | |
| Allergan PLC | |
| Amgen Inc. | |
| Biogen Inc. | |
| Celgene Corp. | |
| Eli Lilly & Co. | |
| Gilead Sciences Inc. | |
| Johnson & Johnson | |
| Merck & Co. Inc. | |
| Pfizer Inc. | |
| Regeneron Pharmaceuticals Inc. | |
| EV/FCFF, Sector | |
| Pharmaceuticals & Biotechnology | |
| EV/FCFF, Industry | |
| Health Care | |
Based on: 10-K (filing date: 2018-02-13).
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
Bristol-Myers Squibb Co., historical EV/FCFF calculation, comparison to benchmarks
Based on: 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-21), 10-K (filing date: 2016-02-12), 10-K (filing date: 2015-02-13), 10-K (filing date: 2014-02-14).
2017 Calculations
3 EV/FCFF = EV ÷ FCFF
= ÷ =
| Ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Bristol-Myers Squibb Co.’s EV/FCFF ratio declined from 2015 to 2016 and from 2016 to 2017. |