NEE still negative cashflow
NEE Current 90 Target 64 -29%
Aug 15, 2022
1 minute read
Sales jumped 47%
Last 5 quarters growth & sales million dollars
5% 11% 15% -43% 47%
3,927 4,370 5,046 2,890 4,236
Costs up profit up
Last 5 quarters cost ratio & profit million dollars
-39% -37% -73% -16% -54%
72 304 953 -693 1,113
Cashflow less negative
Last 5 quarters operating & investment million dollars
2,203 2,741 1,317 1,962 2,831
-3,741 -3,684 -1,746 -4,693 -4,615
Net cash down
Last 5 quarters cash & liabilities million dollars
1,102 692 639 2,061 2,861
82,755 94,516 95,243 100,693 107,163
Capital worsened
Last 5 quarters cumulative capital , liabilities & equity
-29,541 -30,058 -31,410 -35,464 -39,105
0 -7,326 -2,116 -4,889 -4,476
0 2,260 764 835 835
Aug 15, 2022
1 minute read
- Last 12 months cash flow -3% of market cap
- Last 12 months Capital -5% of market cap
- Latest net cash -56% of market cap
Sales jumped 47%
Last 5 quarters growth & sales million dollars
5% 11% 15% -43% 47%
3,927 4,370 5,046 2,890 4,236
- Sales jumped 47% in the second quarter to 4,236 million dollars ; our forecasts v sales is + 7% now.
- This brings the average to 8% growth.
- We predict average growth of 3% in this next 12 months to bring sales to 4,752 million dollars in the second quarter 2023.
Costs up profit up
Last 5 quarters cost ratio & profit million dollars
-39% -37% -73% -16% -54%
72 304 953 -693 1,113
- The cash cost ratio went from -16% to -54% profit from -693 to 1,113 million dollars in the second quarter.
- The average cost ratio is at -45% now.
- We use the average -45% cost ratio to predict a 912 million dollars profit in the second quarter 2023.
Cashflow less negative
Last 5 quarters operating & investment million dollars
2,203 2,741 1,317 1,962 2,831
-3,741 -3,684 -1,746 -4,693 -4,615
- Free cashflow went less negative from -2,731 to -1,784 million dollars in the second quarter with -4,615 investment cashflow.
- Average quarterly Cashflow is at -1,472 million dollars now.
- We assume -3,685 million dollars investment cashflow which with higher sales gives -1,138 million dollars average Cashflow in the next 12 months.
Net cash down
Last 5 quarters cash & liabilities million dollars
1,102 692 639 2,061 2,861
82,755 94,516 95,243 100,693 107,163
- Cash increased 2,061 to 2,861 million dollars in the second quarter.
- Liabilities increased 100,693 to 107,163 million dollars so net cash was down -98,632 to -104,302 million dollars .
- With our forecast cashflow & a 0 million dollars equity payout 4,554 million dollars new liabilities net cash will be -108,856 million dollars in 12 months time.
Capital worsened
Last 5 quarters cumulative capital , liabilities & equity
-29,541 -30,058 -31,410 -35,464 -39,105
0 -7,326 -2,116 -4,889 -4,476
0 2,260 764 835 835
- NEE cumulative capital worsened -35,464 to -39,105 million dollars with -4,476 & + 835 million dollars from liabilities, equity in the second quarter & will be -43,659 million dollars in12 months time.
- At the current market value of 186,953 million dollars based on our forecasts it’s at 1.2 X assets with a 15 years payback & a 0% yield.
- Our operating cashflow forecast is 10,184 million dollars which means an 18 X valuation. A 13 X valuation gives a -29% lower target price 64 dolars.
