标题: Reading 43: Free Cash Flow Valuation-LOS e 习题精选 [打印本页]
作者: 土豆妮 时间: 2011-3-18 14:54 标题: [2011]Session 12-Reading 43: Free Cash Flow Valuation-LOS e 习题精选
Session 12: Equity Investments: Valuation Models
Reading 43: Free Cash Flow Valuation
LOS e: Discuss approaches for forecasting FCFF and FCFE.
A common approach to forecasting free cash flows is to:
|
A) |
calculate historical free cash flow and apply an expected growth rate. | |
|
B) |
project net income and expected capital expenditures. | |
|
C) |
project earnings before interest and taxes (EBIT) and expected capital expenditures. | |
Historical free cash flows are often used for forecasting.
[此贴子已经被作者于2011-3-21 11:25:46编辑过]
作者: 土豆妮 时间: 2011-3-18 14:55
In forecasting free cash flows it is common to assume that investment in working capital:
|
A) |
is greater than fixed capital investment during a growth phase. | |
|
B) |
will equal fixed capital investment. | |
|
C) |
will be financed using the target debt ratio. | |
It is usually assumed that the investment in working capital will be financed consistent with the target debt ratio.
作者: 土豆妮 时间: 2011-3-18 14:56
In forecasting free cash flows it is common to assume that:
|
A) |
the firm has no non-cash expenses. | |
|
B) |
the firm adheres to a target capital structure. | |
|
C) |
historical and future free cash flow will be the same. | |
A target debt ratio is usually assumed to remain constant. Historical cash flows are often projected forward with a growth rate.
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