Free Cash Flow to The Firm (FCFF)
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
1, 2 See details »
Item | Description | The company |
---|---|---|
FCFF | Free cash flow to the firm is the cash flow available to the Becton, Dickinson & Co. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Becton, Dickinson & Co. FCFF increased from 2019 to 2020 and from 2020 to 2021. |
Interest Paid, Net of Tax
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
2 2021 Calculation
Interest paid, net of amounts capitalized, tax = Interest paid, net of amounts capitalized × EITR
= 474 × 6.70% = 32
3 2021 Calculation
Capitalized interest, tax = Capitalized interest × EITR
= 43 × 6.70% = 3
Enterprise Value to FCFF Ratio, Current
Selected Financial Data (US$ in millions) | |
Enterprise value (EV) | 89,222) |
Free cash flow to the firm (FCFF) | 3,898) |
Valuation Ratio | |
EV/FCFF | 22.89 |
Benchmarks | |
EV/FCFF, Competitors1 | |
Abbott Laboratories | 37.49 |
Cigna Group | 9.88 |
CVS Health Corp. | 10.01 |
Elevance Health Inc. | 10.90 |
Humana Inc. | 7.57 |
Intuitive Surgical Inc. | 254.78 |
Medtronic PLC | 21.59 |
UnitedHealth Group Inc. | 20.81 |
EV/FCFF, Sector | |
Health Care Equipment & Services | 20.32 |
EV/FCFF, Industry | |
Health Care | 18.27 |
Based on: 10-K (reporting date: 2021-09-30).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Sep 30, 2021 | Sep 30, 2020 | Sep 30, 2019 | Sep 30, 2018 | Sep 30, 2017 | Sep 30, 2016 | ||
---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in millions) | |||||||
Enterprise value (EV)1 | 84,640) | 80,969) | 89,200) | 85,173) | 55,792) | 45,755) | |
Free cash flow to the firm (FCFF)2 | 3,898) | 3,224) | 2,928) | 2,551) | 2,127) | 2,250) | |
Valuation Ratio | |||||||
EV/FCFF3 | 21.71 | 25.12 | 30.47 | 33.39 | 26.24 | 20.34 | |
Benchmarks | |||||||
EV/FCFF, Competitors4 | |||||||
Abbott Laboratories | 23.47 | 36.94 | 33.05 | — | — | — | |
Cigna Group | 14.17 | 9.16 | 10.24 | — | — | — | |
CVS Health Corp. | 10.30 | 9.42 | 12.30 | — | — | — | |
Elevance Health Inc. | 12.74 | 6.04 | 12.73 | — | — | — | |
Humana Inc. | 42.03 | 7.92 | 8.46 | — | — | — | |
Intuitive Surgical Inc. | 56.01 | 76.70 | 54.58 | — | — | — | |
Medtronic PLC | 33.84 | 21.43 | 22.07 | — | — | — | |
UnitedHealth Group Inc. | 22.21 | 15.82 | 17.51 | — | — | — | |
EV/FCFF, Sector | |||||||
Health Care Equipment & Services | 19.60 | 14.85 | 16.66 | — | — | — | |
EV/FCFF, Industry | |||||||
Health Care | 16.41 | 17.93 | 18.26 | — | — | — |
Based on: 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30).
3 2021 Calculation
EV/FCFF = EV ÷ FCFF
= 84,640 ÷ 3,898 = 21.71
4 Click competitor name to see calculations.
Valuation ratio | Description | The company |
---|---|---|
EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Becton, Dickinson & Co. EV/FCFF ratio decreased from 2019 to 2020 and from 2020 to 2021. |