贝恩财务分析-cashflow.pptx

贝恩财务分析。1、The importance of cash flow；2、Types of cash flow；3、Applications；4、Cash flow steps；5、Exercise；6、Key takeaways。Cash flow is the measure of a company’s strategic value. The market value of a company is equal to the present value of its expected future cash flows Various stakeholders demand cash investors demand CASH returns suppliers and employees require CASH compensation debtholders demand CASH payments Accounting methods can be used to “manage” earnings; CASH is harder to manipulate.Operating cash flow measures the ability of a business’s recurring operations to generate cash.Operating cash flow excludes all cash flows related to a firm’s capital structure cash generation ability is independent of how a firm is financed It excludes one-time events these are not related to a firm’s recurring operations Operating cash flow is used to measure the strategic value of a business for company valuations, operating and investing cash flows are used, not financing cash flow Bain is usually more interested in operating and investing* cash flow than in financing cash flow.本课件是针对全行业所编写的，旨在为全行业提供关于财务方向更为专业的指导和建议。