标题: Changes in Working Captial (FCF, WCInv) [打印本页] 作者: chunty 时间: 2011-7-11 19:30 标题: Changes in Working Captial (FCF, WCInv)
When I think about working capital, and in turn WCInv, the term used in the FCFF & FCFE formulas, I always think about the change in current assets and current liabilities. But it seems like the calculation of WCInv excludes changes in cash, and ST debt. Any other current assets/liabilities excluded from the WCInv calculation?作者: profil 时间: 2011-7-11 19:30
also remember you are valuing a company based on FCFE/FCFF. (for a potential takeover). any cash present on the company's books becomes yours already. only anything other than cash would be used for valuation.
