Financial Management: Theory and PracticeDryden Press, 1999 - Business & Economics To accomplish your course goals, use this study guide to enhance your understanding of the text content and to be better prepared for quizzes and tests. This convenient manual helps you assimilate and master the information encountered in the text through the use of practice exercises and applications, comprehensive review tools, and additional helpful resources. |
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Page 45
... free to use cash flows however it chooses . Therefore , we now define another term , free cash flow , which is the cash flow actually available for distribution to investors after the company has made all the investments in fixed assets ...
... free to use cash flows however it chooses . Therefore , we now define another term , free cash flow , which is the cash flow actually available for distribution to investors after the company has made all the investments in fixed assets ...
Page 46
... operating capital as follows : Gross investment = Net investment + Depreciation = $ 345 + $ 100 = $ 445 million . MicroDrive's free cash flow in 1998 was FCF = Operating cash flow - Gross investment in operating capital = $ 270.3 $ 445 ...
... operating capital as follows : Gross investment = Net investment + Depreciation = $ 345 + $ 100 = $ 445 million . MicroDrive's free cash flow in 1998 was FCF = Operating cash flow - Gross investment in operating capital = $ 270.3 $ 445 ...
Page 345
... Free Cash Flow ( Millions of Dollars ) ACTUAL 1998 PROJECTED 1999 2000 2001 2002 Calculation of Free Cash Flow 1. Required net operating working capital $ 212.00 ... cash flow means the company will have to VALUING THE ENTIRE CORPORATION 345.
... Free Cash Flow ( Millions of Dollars ) ACTUAL 1998 PROJECTED 1999 2000 2001 2002 Calculation of Free Cash Flow 1. Required net operating working capital $ 212.00 ... cash flow means the company will have to VALUING THE ENTIRE CORPORATION 345.
Contents
INTRODUCTION TO FINANCIAL MANAGEMENT | 1 |
AN OVERVIEW OF FINANCIAL MANAGEMENT | 3 |
FINANCIAL STATEMENTS CASH FLOW AND TAXES | 31 |
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Common terms and phrases
12 percent after-tax analysis annual annuity assume average balance sheet bank beta beta coefficient bonds capital budgeting capital gains capital structure CAPM Chapter coefficient common equity common stock company's corporate cost of capital cost of equity coupon decision depreciation discussed dividend policy dollar EBIT effect Equation estimate example expected rate expected return financial calculator Financial Management firm firm's fixed assets flotation costs forecast free cash flow funds future growth rate higher income increase inflation interest rates inventory investment investors issue lease leverage loan long-term market risk market value maturity MicroDrive MicroDrive's million NOPAT Note operating option payments payout portfolio preferred stock present value problem profit rate of return required rate retained earnings risk premium risk-free rate risky securities SELF-TEST QUESTIONS sell share shareholders short-term stock price stockholders tax rate WACC yield yield to maturity zero