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Strategies & Market Trends : Free Cash Flow as Value Criterion -- Ignore unavailable to you. Want to Upgrade?

To: jbe who wrote (119)	11/3/1997 8:12:00 PM
From: Andrew	Read Replies (3) \| Respond to of 253

Joan At $3.40 FCF per share, and with 1640 Million or so shares, you get total FCF of (whirring calculator noises) $5576 Million. That's pretty close to what you would get if you subtracted capital exp. from "Net cash provided by operating activities" in 1996 ($5719M). So that must be what they do. Therefore, your P/FCF would be about 78/3.4 = 22.9 So what's your opinion of that? By the way, comparing raw per share FCF numbers alone with those of other companies probably won't be much help because you have to consider how many shares there are out there. For example if Intel split it's shares tomorrow, you would be seeing only $1.7 per share. Therefore I wouldn't pay too much attention to those percentile numbers. Andrew