TAILIEUCHUNG - Lecture Equity asset valuation - Chapter 4: Free cash flow valuation

In chapter 3, we used dividends as the measure of shareholder cash flow in stock valuation. In chapter 4, we will utilize free cash flow. Whereas dividends are the cash flow actually paid to shareholders, free cash flow (FCF) is the cash flow available to shareholders. | Free Cash Flow Valuation Presenter Venue Date 1 In Chapter 3, we used dividends as the measure of shareholder cash flow in stock valuation. In Chapter 4, we will utilize free cash flow. Whereas dividends are the cash flow actually paid to shareholders, free cash flow (FCF) is the cash flow available to shareholders. Unlike dividends, data on free cash flows are not readily available. Stock analysts must interpret financial statements to determine free cash flows. Although free cash flow analysis can prove quite challenging, many analysts consider free cash flow models more relevant than dividend discount models. In this chapter, we begin by examining two definitions of free cash flow. We then discuss the determination of free cash flows so that they can be used in valuation models. We will use models similar to dividend discount models (DDMs) such as the stable-growth model, two-stage model, and three-stage model. DISCLAIMER: This presentation is NOT a substitute for the CFA Program

• Ngân hàng - Tín dụng
• Equity asset valuation
• Lecture Equity asset valuation
• Equity valuation
• Free cash flow valuation
• Cash flow available
• Financial statement
• Equity valuation applications
• Equity caluation process
• Intrinsic value
• Residual income valuation
• Valuing common equity
• Residual income
• Valuation indicators
• Valuation ratios internationally
• Momentum indicators
• Private company valuation
• Income approach
• Private valuation approaches
• Discounted dividend valuation
• Present value models
• Gordon growth model
• Return concepts
• Quity risk premium
• Capital asset pricing model
• International financial statement
• International financial statement analysis
• Financial statement analysis
• Financial reporting
• Financial reporting mechanics
• Financial analysis techniques
• Financial reporting quality
• Financial decisions
• Supplementary information
• Income statements
• Balance sheets
• Cash flow statements
• Inventory valuation methods
• Long lived assets
• Noncurrent liabilities
• Credit quality
• Income taxes
• Postemployment benefit plans
• Intercorporate investments
• Multinational operations
• Evaluating quality
• Lecture Financial statement analysis
• Business analysis
• Financial statement analysis techniques
• Efficient market
• Cash flow analysis
• Statement of cash flows
• Accrual accounting
• Prospective analysis
• Projected income statement
• Projected balance sheet
• Accounting information
• Analysis environment
• Analyzing financing activities
• Debt financing
• Interpret leases
• Companies’ financing sources
• Analyzing liabilities
• Postretirement benefits