首页 | 学习中心 | 注册 登录
返回列表 发帖
therecruit

Rank: 2

UID
223353 
帖子
253 
主题
33 
注册时间
2011-7-11 
最后登录
2016-4-15 
1# 跳转到 » 倒序看帖
打印
tT
发表于 2011-7-13 14:13 | 只看该作者
I thought I understood why you add net borrowing back when calculating FCFE (because its cash available to equity)

So, why is it not added in when you calculate FCFF? I mean, it is a cash flow available to the firm right?

I already memorized the formulas months ago but this question just occurred to me.
收藏 分享

wizofoz

Rank: 2

UID
223399 
帖子
290 
主题
8 
注册时间
2011-7-11 
最后登录
2014-8-6 
2#
发表于 2011-7-13 14:13 | 只看该作者
The way I remember it is that you don't get to add cash when you sell/issue new equity under FCFE (or FCFF). It is cash that available but you are not allowed to.

For FCFF, we include bond holders so we cannot count funds related to them, in this case issuing new debt.

I cannot think of a logical reason its not included other than you would have to add equity issuance also then.

TOP

ap0258

Rank: 2

UID
223445 
帖子
322 
主题
15 
注册时间
2011-7-11 
最后登录
2014-8-7 
3#
发表于 2011-7-13 14:13 | 只看该作者
FCFF is close to CFO, and a debt issuance is would fall under CFF - cash flow from financing.

Those scientists better check their hypotenuses, dude!

TOP

flyinggirl

Rank: 2

UID
217800 
帖子
261 
主题
109 
注册时间
2011-5-24 
最后登录
2012-9-12 
4#
发表于 2011-7-13 14:14 | 只看该作者
good question

TOP

返回列表