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 Merck & Co. Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | Merck & Co. Inc. FCFE increased from 2021 to 2022 and from 2022 to 2023. |
Price to FCFE Ratio, Current
No. shares of common stock outstanding | 2,534,809,312 |
Selected Financial Data (US$) | |
Free cash flow to equity (FCFE) (in millions) | 13,327) |
FCFE per share | 5.26 |
Current share price (P) | 101.87 |
Valuation Ratio | |
P/FCFE | 19.38 |
Benchmarks | |
P/FCFE, Competitors1 | |
AbbVie Inc. | 19.82 |
Amgen Inc. | 5.16 |
Bristol-Myers Squibb Co. | 8.58 |
Danaher Corp. | 51.11 |
Eli Lilly & Co. | 81.05 |
Gilead Sciences Inc. | 15.64 |
Johnson & Johnson | 24.56 |
Moderna Inc. | — |
Pfizer Inc. | 3.86 |
Regeneron Pharmaceuticals Inc. | 23.50 |
Thermo Fisher Scientific Inc. | 30.98 |
P/FCFE, Sector | |
Pharmaceuticals, Biotechnology & Life Sciences | 17.55 |
P/FCFE, Industry | |
Health Care | 17.34 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
---|---|---|---|---|---|---|
No. shares of common stock outstanding1 | 2,532,643,872 | 2,538,592,467 | 2,527,733,606 | 2,530,315,668 | 2,536,268,760 | |
Selected Financial Data (US$) | ||||||
Free cash flow to equity (FCFE) (in millions)2 | 13,327) | 12,456) | 10,305) | 10,580) | 11,215) | |
FCFE per share3 | 5.26 | 4.91 | 4.08 | 4.18 | 4.42 | |
Share price1, 4 | 128.84 | 109.89 | 76.32 | 74.62 | 79.94 | |
Valuation Ratio | ||||||
P/FCFE5 | 24.48 | 22.40 | 18.72 | 17.85 | 18.08 | |
Benchmarks | ||||||
P/FCFE, Competitors6 | ||||||
AbbVie Inc. | 17.37 | 22.66 | 18.76 | 13.16 | 3.64 | |
Amgen Inc. | 4.71 | 8.32 | 13.52 | 11.06 | 33.32 | |
Bristol-Myers Squibb Co. | 7.52 | 22.85 | 16.17 | 7.80 | 5.80 | |
Danaher Corp. | 53.08 | 32.04 | 20.75 | 44.62 | 6.88 | |
Eli Lilly & Co. | 75.06 | 60.51 | 35.17 | 36.62 | 15.87 | |
Gilead Sciences Inc. | 12.81 | 15.22 | 12.70 | 5.98 | 15.91 | |
Johnson & Johnson | 24.31 | 16.73 | 23.28 | 15.60 | 23.06 | |
Moderna Inc. | — | 12.24 | 4.62 | 31.68 | — | |
Pfizer Inc. | 3.82 | 10.56 | 8.88 | — | 9.87 | |
Regeneron Pharmaceuticals Inc. | 26.52 | 19.29 | 10.35 | 13.30 | 21.00 | |
Thermo Fisher Scientific Inc. | 31.16 | 27.98 | 13.44 | 18.58 | 46.04 | |
P/FCFE, Sector | ||||||
Pharmaceuticals, Biotechnology & Life Sciences | 17.23 | 19.02 | 15.27 | 17.30 | 11.46 | |
P/FCFE, Industry | ||||||
Health Care | 16.99 | 18.08 | 16.76 | 17.08 | 13.39 |
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
= 13,327,000,000 ÷ 2,532,643,872 = 5.26
4 Closing price as at the filing date of Merck & Co. Inc. Annual Report.
5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 128.84 ÷ 5.26 = 24.48
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. | Merck & Co. Inc. P/FCFE ratio increased from 2021 to 2022 and from 2022 to 2023. |