Free Cash Flow to Equity (FCFE)
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Item | Description | The company |
---|---|---|
FCFE | Free cash flow to equity is the cash flow available to Coca-Cola Co. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | Coca-Cola Co. FCFE decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Price to FCFE Ratio, Current
No. shares of common stock outstanding | 4,309,868,150 |
Selected Financial Data (US$) | |
Free cash flow to equity (FCFE) (in millions) | 11,678) |
FCFE per share | 2.71 |
Current share price (P) | 69.57 |
Valuation Ratio | |
P/FCFE | 25.68 |
Benchmarks | |
P/FCFE, Competitors1 | |
Altria Group Inc. | 9.98 |
PepsiCo Inc. | 18.60 |
Philip Morris International Inc. | 16.12 |
P/FCFE, Sector | |
Food, Beverage & Tobacco | 18.16 |
P/FCFE, Industry | |
Consumer Staples | 27.05 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 4,312,456,168 | 4,326,691,783 | 4,335,473,308 | 4,309,311,676 | 4,290,276,067 | |
Selected Financial Data (US$) | ||||||
Free cash flow to equity (FCFE) (in millions)2 | 11,678) | 8,651) | 11,594) | 6,994) | 7,554) | |
FCFE per share3 | 2.71 | 2.00 | 2.67 | 1.62 | 1.76 | |
Share price1, 4 | 60.70 | 59.80 | 62.28 | 50.17 | 58.65 | |
Valuation Ratio | ||||||
P/FCFE5 | 22.42 | 29.91 | 23.29 | 30.91 | 33.31 | |
Benchmarks | ||||||
P/FCFE, Competitors6 | ||||||
Altria Group Inc. | 8.46 | 11.96 | 13.06 | 8.86 | 7.97 | |
PepsiCo Inc. | 17.88 | 47.17 | 77.00 | 10.51 | 38.90 | |
Philip Morris International Inc. | 11.93 | 6.64 | 20.46 | 15.06 | 15.65 | |
P/FCFE, Sector | ||||||
Food, Beverage & Tobacco | 15.72 | 16.58 | 25.49 | 14.44 | 21.35 | |
P/FCFE, Industry | ||||||
Consumer Staples | 21.03 | 25.51 | 24.12 | 16.28 | 18.19 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 Data adjusted for splits and stock dividends.
3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 11,678,000,000 ÷ 4,312,456,168 = 2.71
4 Closing price as at the filing date of Coca-Cola Co. Annual Report.
5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 60.70 ÷ 2.71 = 22.42
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. | Coca-Cola Co. P/FCFE ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |