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Strategies & Market Trends : Value Investing

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To: ParPlusAccrued who wrote (46368)	1/30/2012 1:14:55 PM
From: Paul Senior	Read Replies (1) of 79054

I'm never quite comfortable with metrics that use FCF. And here's an example of it. You have a positive "13% - 14% FCF yield", and positive "FCF margins" whereas the sites I am using show a negative FCF number (which I assume would make yield and margins negative). I don't know whether it's definitional differences (Yahoo says "levered" free cash flow is negative) or what, but the dichotomy -- an apparent plus FCF metric vs. a negative FCF number that I see -- confuses me. No matter though. It's only important that you know how your calculations stand in context as to what a value bogey is for you. . If you say it's a value or value possibility or takeover possibility, it very well could be. I don't see PMC as a value for me at current price, so I'll pass.

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