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Investment Strategies / Mechanical Investing
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Author: lizgdal   😊 😞
Number: of 3320 
Subject: Re: GTR1 Help
Date: 12/04/2024 8:38 PM
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No. of Recommendations: 3
Bottom line is avoid [fcfps12m.s]. Instead use [fcfps12mq1d.s] or [fcfpsy1.s]. Details:

FCF is adjusted both by the company and the data vendor. FCF per share:

Ticker  Barchart   M*   SIPnew  SIPold  period
BAX 2.04 2.04 0.89 0.89 Y2023
MMM 9.14 9.15 3.17 3.17 Y2023
AMZN 1.12 0.73 0.49 0.72 Q202406


I do not know how [fcfps12m.s] is calculated and so would avoid using it. For example, both BAX and MMM have fiscal year ending December 31st, and latest reported quarter ending September 30, 2024. [fcfps12mq1d.s] is the sum of quarters 1 through 4 as expected. Somehow, [fcfps12m.s] is more negative than any combination of quarters.

Ticker  fcfps12mq1d.s  fcfpsy1.s  fcfps12m.s  fcfpsq1.s  fcfpsq2.s  fcfpsq3.s  fcfpsq4.s  fcfpsq5.s  fcfpsq6.s  fcfpsq7.s  fcfpsq8.s  perendy1.s  perendq1.s  diff
BAX 1.04 0.89 -0.38 0.41 0.08 0.33 0.22 -0.03 0.00 -0.14 0.63 25889 26077 188
MMM 2.80 3.17 -3.06 1.22 0.55 -0.05 1.08 0.43 -0.18 -0.46 1.05 25889 26077 188


============
For 2024Q3, SIP reports for MMM:
Cash from Operations: $(1.8) B
Cap Ex: 0.246 B
FCFPS: $1.22
FCF: 0.55 B shares * 1.22 = $0.67 B

SIP is reporting the adjusted FCF, discounting some of the adjustment.

3M Reports Third-Quarter Results
Adjusted free cash flow of $1.5 billion.
Cash from operations of $(1.8) billion, driven by $3.6 billion net after tax payments for costs of significant litigation, primarily Public Water Systems and Combat Arms Earplugs.
https://investors.3m.com/financials/quarterly-earn...

========= Some FCF numbers ========

Y1 BAX:
Barchart: $1.034 B
M*: $1.03 B
0.506 B shares

Y1 MMM:
Barchart: $5.065 B
M*: $5.07 B
0.5539 B shares

FCF for Amazon in the quarter ending June 30, 2024:
Barchart: $11.725 B
M*: $7.66 B
10.477 B shares

New SIP data and AMZN
"To see what might have changed with the new data source, I looked at what SIP reports as AMZN financial statements for the quarter ending June 30, 2024. FCF might be the most significant change."
field: 20240927 data, 20241001 data
Free Cash Flow per Share: 0.72, 0.49
https://www.shrewdm.com/MB?pid=379012025&wholeThre...
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