Earnings and Cash Flows: A Primer on Free Cash Flow
Musings on Markets
OCTOBER 25, 2022
Thus, we start with operating income or earnings before interest and taxes (EBIT) replacing net income. (I As a cash flow advocate, it pains me to say this, but if your game is pricing stocks, I see little benefit from replacing traditional multiples (like PE and EV to EBITDA) with free cash flow scaled pricing measures.
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