Anadarko Petroleum Corp., FCFE calculation

US$ in millions

12 months ended:	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
Net income (loss) attributable to common stockholders	(3,071)	(6,692)	(1,750)	801)	2,391)
Net (income) loss attributable to noncontrolling interests	263)	(120)	187)	140)	54)
Net noncash charges	5,716)	10,370)	5,540)	6,084)	6,741)
Changes in assets and liabilities	92)	(5,435)	4,489)	1,863)	(847)
Net cash provided by (used in) operating activities	3,000)	(1,877)	8,466)	8,888)	8,339)
Additions to properties and equipment	(3,505)	(6,067)	(9,508)	(7,721)	(7,242)
Borrowings, net of issuance costs	6,042)	4,632)	2,879)	958)	1,042)
Repayments of debt	(6,832)	(4,033)	(1,425)	(710)	(3,044)
Increase (decrease) in outstanding checks	(103)	(23)	62)	(13)	(69)
Free cash flow to equity (FCFE)	(1,398)	(7,368)	474)	1,402)	(974)

Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

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Item	Description	The company
FCFE	Free cash flow to equity is the cash flow available to Anadarko Petroleum Corp. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made.	Anadarko Petroleum Corp. FCFE decreased from 2014 to 2015 but then increased from 2015 to 2016 not reaching 2014 level.

Anadarko Petroleum Corp., current P/FCFE calculation, comparison to benchmarks

No. shares of common stock outstanding	547,157,557
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)	(1,398)
FCFE per share	-2.56
Current share price (P)	49.37
Valuation Ratio
P/FCFE	—
Benchmarks
P/FCFE, Competitors¹
Chevron Corp.	18.44
ConocoPhillips	11.73
Exxon Mobil Corp.	15.92
Marathon Petroleum Corp.	4.03
Occidental Petroleum Corp.	8.00
Valero Energy Corp.	5.55

Based on: 10-K (reporting date: 2016-12-31).

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.

Anadarko Petroleum Corp., historical P/FCFE calculation, comparison to benchmarks

	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012
No. shares of common stock outstanding¹	558,979,551	508,438,647	506,650,285	503,767,298	500,565,966
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)²	(1,398)	(7,368)	474)	1,402)	(974)
FCFE per share³	-2.50	-14.49	0.94	2.78	-1.95
Share price^1, 4	66.77	40.50	85.45	84.16	84.13
Valuation Ratio
P/FCFE⁵	—	—	91.34	30.24	—
Benchmarks
P/FCFE, Competitors⁶
Chevron Corp.	—	—	—	—	—
ConocoPhillips	—	—	—	—	—
Exxon Mobil Corp.	—	—	—	—	—
Marathon Petroleum Corp.	—	—	—	—	—
Occidental Petroleum Corp.	—	—	—	—	—
Valero Energy Corp.	—	—	—	—	—

Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31).

¹ Data adjusted for splits and stock dividends.

² See details »

³ 2016 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= -1,398,000,000 ÷ 558,979,551 = -2.50

⁴ Closing price as at the filing date of Anadarko Petroleum Corp. Annual Report.

⁵ 2016 Calculation
P/FCFE = Share price ÷ FCFE per share
= 66.77 ÷ -2.50 = —

⁶ Click competitor name to see calculations.

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Anadarko Petroleum Corp. (NYSE:APC)

Price to FCFE (P/FCFE)

Free Cash Flow to Equity (FCFE)

Price to FCFE Ratio, Current

Price to FCFE Ratio, Historical