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invest:finance:fcff [2019/08/24 22:10] zhwiki |
invest:finance:fcff [2019/08/24 22:26] zhwiki [FCFF举例] |
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The calculation for FCFF can take several forms, and it's important to understand each version. The most common equation is shown as: | The calculation for FCFF can take several forms, and it's important to understand each version. The most common equation is shown as: | ||
- | $$ \text{FCFF}=\text{NI}+\text{NC}+(I\times(1−\text{TR}))−\text{LI}−\text{IWC} $$ | + | $$ \text{FCFF}=\text{NI}+\text{NC}+(\text{I} \times(1−\text{TR}))−\text{LI}−\text{IWC} $$ |
其中: | 其中: | ||
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- | If we look at Exxon's statement of cash flows, we see that the company had $8.519 billion in operating cash flow (below, in blue). The company also invested in a new plant and equipment, purchasing $3.349 billion in assets (in red). The purchase is a CAPEX cash outlay. During the same period, Exxon paid $300 million in interest subject to a 30% tax rate. | + | If we look at Exxon's statement of cash flows, we see that the company had \$8.519 billion in operating cash flow (below, in blue). The company also invested in a new plant and equipment, purchasing \$3.349 billion in assets (in red). The purchase is a CAPEX cash outlay. During the same period, Exxon paid \$300 million in interest subject to a 30% tax rate. |
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