大多的投资者都有着成为“翘脚老板”的梦想 -- 原文是“armchair investor”,意思是指坐在扶手椅上悠闲投资的方式 – 所以,都希望能有一个快速、简单的公式来指导投资。自由现金流(Free Cash Flow)就是为了满足这一需求而诞生的,用于描述股东盈余的一种快捷方式。 虽然,有的时候自由现金流和股东盈余大体上是相...
原文是Joe Ponzio的文章《Owner Earnings vs. Free Cash Flow》,为了看起来方便将其翻译出来,分享出来供大家参考交流。 1 巴菲特语录 在1986年的信中,巴菲特提到了“股东盈余(Owner Earnings)”的概念,并对其进行了定义。巴菲特认为该数字对于股票投资者和企业整体并购者而言,都是对标的进行估值的一个重要依据。 下面...
cash flows. The factors used are: firm size, inventory level, capital intensity, degree of competition, and product type (durable- nondurable). The results confirm that these factors explain firms' cash flow properties better than earnings properties. Specifically, tests of the differences in the ...
作者: 前两天刚好发布了巴菲特1986年致股东信的译文,经过思考把“owner earnings”翻译为“股东利润”,比起以前的“股东盈余”显得更加直接、易懂,更贴近原意。 2016-12-15 15:22 原文是Joe Ponzio的文章《Owner Earnings vs. Free Cash Flow》,为了看起来方便将其翻译出来,分享出来供大家参考交流。 1 巴菲特语录...
When investments are excluded to get free cash flow, GroupSolver traded at -91.4x. At the end of 2023, the company had a net debt of USD -0.073 mil, or 0.229x of EBITDA and -22.2% of equity. The firm generated an average return on equity of -162% for its shareholders in the ...
(1998) model of the accrual process, this study investigates the role of accruals in predicting future cash flows. The model ... ME Barth,CKK Nelson - 《Accounting Review》 被引量: 1348发表: 2001年 THE INCREMENTAL INFORMATION CONTENT OF EARNINGS, FUNDS FLOW AND CASH FLOW: THE UK EVIDENCE ...
Themultiples approachuses the approximate sales revenues of a firm during the last year of a discounted cash flow model, then uses a multiple of that figure to arrive at the terminal value. For example, a firm with a projected $200 million in sales and a multiple of 3 would have a value...
The P/E ratio has several limitations. It doesn't account for future earnings growth, can be influenced by accounting practices, and may not be comparable across different industries. It also doesn't consider other financial aspects such as debt levels, cash flow, or the quality of earnings....
(Vsaleit), operating leverage ratio (Oplevit), foreign income (FIit), deferred tax expense (DTEit), unexpected earnings (Surpriseit), volatility of earnings (Earnvolit), volatility of stock returns (Retvolit), unexpected seasonal fluctuation of revenue (Seasonvolit), and cash flow volatility ...
Cashflow: The cashflow from operating activities in the quarter was Rmb-508mn (vs. Rmb2.17bn in the same period of last year and Rmb1.13bn in the previous quarter). 5) At-the-market (ATM) offering: As of Dec 9, 2022, Li Auto had sold 9.43mn American depositary shares (ADS) in ...