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Caterpillar Inc. (CAT)
Price to FCFE (P/FCFE)
Difficulty: Intermediate
Free Cash Flow to Equity (FCFE)
Caterpillar Inc., FCFE calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-17).
| Item | Description | The company |
|---|---|---|
| FCFE | Free cash flow to equity is the cash flow available to Caterpillar Inc.’s equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | Caterpillar Inc.’s FCFE declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level. |
Price to FCFE Ratio, Current
Caterpillar 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 millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Illinois Tool Works Inc. | |
| P/FCFE, Sector | |
| Industrial Engineering | |
| P/FCFE, Industry | |
| Industrials | |
Based on: 10-K (filing date: 2019-02-14).
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
Caterpillar Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| Free cash flow to equity (FCFE) (in millions)2 | |
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| FCFE per share3 | |
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| Share price1, 4 | |
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| P/FCFE5 | |
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| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Illinois Tool Works Inc. | |
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| P/FCFE, Sector | ||||||
| Industrial Engineering | |
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| P/FCFE, Industry | ||||||
| Industrials | |
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Based on: 10-K (filing date: 2019-02-14), 10-K (filing date: 2018-02-15), 10-K (filing date: 2017-02-15), 10-K (filing date: 2016-02-16), 10-K (filing date: 2015-02-17).
1 Data adjusted for splits and stock dividends.
3 2018 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Caterpillar Inc.’s Annual Report.
5 2018 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/FCFE | Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. | Caterpillar Inc.’s P/FCFE ratio increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |