Stock Analysis on Net
Stock Analysis on Net

Allergan PLC (NYSE:AGN)

This company has been moved to the archive! The financial data has not been updated since May 7, 2020.

Price to FCFE (P/FCFE)

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Free Cash Flow to Equity (FCFE)

Allergan PLC, FCFE calculation

US$ in thousands

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12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net income (loss) attributable to shareholders (5,271,000) (5,096,400) (4,125,500) 14,973,400 3,915,200
Income attributable to noncontrolling interest 5,900 10,200 6,600 6,100 4,200
Net noncash charges 10,400,900 12,018,400 9,058,400 (12,827,700) 1,882,800
Changes in assets and liabilities, net of effects of acquisitions 2,102,900 (1,292,100) 933,900 (726,500) (1,272,200)
Net cash provided by operating activities 7,238,700 5,640,100 5,873,400 1,425,300 4,530,000
Additions to property, plant and equipment (375,200) (253,500) (349,900) (331,400) (454,900)
Additions to product rights and other intangibles (58,300) — (614,300) (2,000) (154,700)
Proceeds from sales of property, plant and equipment 23,700 30,400 7,100 33,300 140,100
Proceeds from borrowings of long-term indebtedness, including credit facility 11,900 2,657,000 3,550,000 1,050,000 30,137,700
Payments on debt, including capital lease obligations and credit facility (1,044,900) (8,804,500) (6,413,600) (10,848,700) (5,134,200)
Debt issuance and other financing costs — (10,400) (20,600) — (310,800)
Free cash flow to equity (FCFE) 5,795,900 (740,900) 2,032,100 (8,673,500) 28,753,200

Based on: 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), 10-K (reporting date: 2015-12-31).

Item Description The company
FCFE Free cash flow to equity is the cash flow available to Allergan PLC equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Allergan PLC FCFE decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.

Price to FCFE Ratio, Current

Allergan PLC, current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding 329,805,791
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands) 5,795,900
FCFE per share 17.57
Current share price (P) 192.99
Valuation Ratio
P/FCFE 10.98
Benchmarks
P/FCFE, Competitors1
AbbVie Inc. 16.58
Amgen Inc. 4.68
Bristol-Myers Squibb Co. 8.96
Danaher Corp. 48.20
Eli Lilly & Co. 75.75
Gilead Sciences Inc. 15.45
Johnson & Johnson 23.76
Merck & Co. Inc. 18.50
Moderna Inc. —
Pfizer Inc. 3.47
Regeneron Pharmaceuticals Inc. 21.08
Thermo Fisher Scientific Inc. 28.60
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 17.46
P/FCFE, Industry
Health Care 20.06

Based on: 10-K (reporting date: 2019-12-31).

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

Allergan PLC, historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
No. shares of common stock outstanding1 329,002,015 332,614,474 330,320,420 335,224,713 394,687,384
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in thousands)2 5,795,900 (740,900) 2,032,100 (8,673,500) 28,753,200
FCFE per share3 17.62 -2.23 6.15 -25.87 72.85
Share price1, 4 198.00 139.07 164.04 245.37 298.07
Valuation Ratio
P/FCFE5 11.24 — 26.66 — 4.09
Benchmarks
P/FCFE, Competitors6
AbbVie Inc. 3.64 — — — —
Amgen Inc. 33.32 — — — —
Bristol-Myers Squibb Co. 5.80 — — — —
Danaher Corp. 6.88 — — — —
Eli Lilly & Co. 15.87 — — — —
Gilead Sciences Inc. 15.91 — — — —
Johnson & Johnson 23.06 — — — —
Merck & Co. Inc. 18.08 — — — —
Moderna Inc. — — — — —
Pfizer Inc. 9.87 — — — —
Regeneron Pharmaceuticals Inc. 21.00 — — — —
Thermo Fisher Scientific Inc. 46.04 — — — —
P/FCFE, Sector
Pharmaceuticals, Biotechnology & Life Sciences 11.46 — — — —
P/FCFE, Industry
Health Care 13.39 — — — —

Based on: 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), 10-K (reporting date: 2015-12-31).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2019 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 5,795,900,000 ÷ 329,002,015 = 17.62

4 Closing price as at the filing date of Allergan PLC Annual Report.

5 2019 Calculation
P/FCFE = Share price ÷ FCFE per share
= 198.00 ÷ 17.62 = 11.24

6 Click competitor name to see calculations.