自由現金流

自由現金流來源於對現金流的計算和分析。自由現金流是指企業在支付經營費用和資本支出費用（如新建廠房或設備）後所剩的現金量。你可以把它看作是公司履行預期投資義務後的剩餘現金。但真正的含義要複雜得多。

對於投資者來說，他最終會關注每股收益或淨收益，但這樣的業績通常要到年底才能有正式的業績，囙此投資者會關注季度經營產生的自由現金流。即使是年終結算後的自由現金流，對公司的經營者和投資者都具有重要意義。這至少表明，該公司在未來一年的擴張能力有多强，抵禦風險的能力有多强。

自由現金流量計算

自由現金流=經營活動產生的淨現金流-資本支出

如果你觀察到一個季度比一個季度或自由現金流逐年成長，這就意味著公司的業務在成長，公司已經做了很多正確的事情。他們有效地增加了收入，管理了資產。他們减少了債務，並有效地降低了成本。

反之，如果自由現金流的數量逐漸减少，則意味著公司將被烏雲壓垮。也許未來的營業收入也會减少甚至更糟。該公司可能會舉債或减少派息。

然而，自由現金流很容易被操縱。因為自由現金流的計算在期末被削减到一個點，但實際操作是移動的。公司可以很容易地調整應收賬款和應付帳款。你得看看現金流量表和資產負債表。

然而，對於企業經營者本身來說，即使現金流量報告是靜態的時間報告，你仍然需要定期審查，以找出你實際擁有多少現金，你可以採取多少步驟，或者你應該踩刹車多少步。

學習自由現金流分析計算

自由現金流量計算是現金流量分析最重要的結果之一。簡單地說，自由現金流是一個公司在支付任何資本支出之後留下的現金，比如新的工廠或設備。有些人將自由現金流描述為公司在履行其所有的財務義務後留給投資者支付的錢，但比這更複雜。

自由現金流作為現金流分析的一部分在幾年前就變得重要了，當公司欺詐案開始出現時，比如安然醜聞。投資者開始尋找自由現金流的原因是因為操作不如每股收益或淨收益那麼容易。

計算與自由現金流量實例

自由現金流跟踪資金。這是你在年底或季底，支付你的帳單和支付任何新的資本支出后剩餘的現金。這是你留給投資者的東西。這裡是一個自由現金流的例子計算。這是一個非常簡單的計算和現金流分析的一部分。

自由現金流 = 經營淨現金流 - 資本支出

經營淨現金流量來源於現金流量表，資本支出來自資產負債表。

如果你看幾年公司的自由現金流數據呈現增長，這通常意味著公司的收入增長即將到來。若是公司有越來越多的自由現金流，表示公司正在做對一些事情。他們可能正在享受收入的增長。他們可以有效地管理他們的資產。

他們可能在償還債務。他們可能在降低成本。

如果自由現金流在一段時間段內下降，公司可能會出現烏雲。自由現金流下降的公司可以預期收益增長的下降和惡化。他們可能不得不承擔越來越多的債務，並可能經歷流動性下降。

請記住，自由現金流並不完全免於會計欺詐。它沒有一個監管標準，所以有兩種不同的作法可以計算，諸如應收賬款和應付帳款之類的項目可以在收到、製作和記錄付款時被操縱，以使自由現金流看起來比它大。

自由現金流實例

在現金流量表的例子中，讓我們以數據為基礎，計算假設公司的自由現金流量：

NT$1,500,000 淨現金流量

- NT$1,000,000 對設備和設備的投資

= NT$500,000 的正自由現金流

在這個例子中，有一個積極的自由現金流。他們需要非常仔細地分析他們的財務狀況，找到他們財務實力的位置，以及財務弱點的任何位置，這樣他們就可以繼續成為一個成功的公司。

作為一個小企業主，自由現金流量是一個統計資料，你應該定期計算。它會讓你知道你的公司在做什麼，並且在你所有的帳單付清後，你到底需要多少現金。它表明你是否可以繼續擴展你的公司或者你應該等待。

Learning Free Cash Flow Analysis and Calculation

Free cash flow calculation is one of the most important results of cash flow analysis. Simply put, free cash flow is the cash that a company leaves behind after paying any capital expenditure, such as new factories or equipment. Some people describe free cash flow as the money a company leaves to investors after fulfilling all its financial obligations, but it's more complicated than that.

Free cash flow became important as part of cash flow analysis several years ago, when corporate fraud cases began to emerge, such as the Enron scandal. Investors are looking for free cash flow because it is not as easy to operate as earnings per share or net income.

Calculating and Free Cash Flow Examples

Free cash flow tracks funds. This is the remaining cash after you pay your bills and any new capital expenditure at the end of the year or quarter. This is what you leave to investors. Here is an example of free cash flow calculation. This is part of a very simple calculation and cash flow analysis.

Free Cash Flow = Operating Net Cash Flow - Capital Expenditure

Net operating cash flow comes from cash flow statement and capital expenditure comes from balance sheet.

If you look at the growth of free cash flow data over the years, it usually means that the company's revenue growth is imminent. If the company has more and more free cash flow, it means that the company is doing something right. They may be enjoying income growth. They can manage their assets effectively.

They may be paying their debts. They may be cutting costs.

If free cash flow falls over a period of time, the company may experience dark clouds. Companies with declining free cash flows can expect declines and deterioration in earnings growth. They may have to shoulder more and more debt and may experience a decline in liquidity.

Keep in mind that free cash flow is not entirely free from accounting fraud. It does not have a regulatory standard, so there are two different ways to calculate. Items such as accounts receivable and accounts payable can be manipulated when payments are received, produced and recorded to make free cash flow look larger than it.

Examples of Free Cash Flow

In the example of cash flow statement, let's calculate the free cash flow of a hypothetical company on the basis of data.

NT $1,500,000 net cash flow

- NT $1,000,000 investment in equipment and equipment

NT $500,000 positive free cash flow

In this case, there is a positive free cash flow. They need to analyze their financial situation very carefully, find their position in financial strength, and any position in financial weakness, so that they can continue to be a successful company.

As a small business owner, free cash flow is a statistic that you should calculate regularly. It will let you know what your company is doing and how much cash you need after all your bills are paid. It shows whether you can continue to expand your company or whether you should wait.

認識自由現金的意義

自由現金流（Free Cash Flow）是從現金流計算分析后得到的。自由現金流是企業支付營運費用與資本性支出費用（例如新廠房或設備）后，所剩下的現金量。你可以看成是公司在達成投資這所期待的義務后，所剩餘的現金。但是，真正的意義要複雜多了。

對於投資者來說，他最終會關切到每股盈餘（Earnings Per Share）或靜收入（Net Income），但是這樣的結果通常要到年終結賬后，才會有正式的結果，於是，投資人就會關切每季營運產生的自由現金流量。即使是年底結算后的自由現金流量，對於公司經營者和投資者，都有重要意義。這至少說明了公司在來年具有多大的力量可以進行擴張經營，以及具有抵抗風險的能力。

自由現金流的計算

自由現金流 = 營運產生的靜現金 – 資本性支出

Free Cash Flow = Net Cash Flow From Operations - Capital Expenditures

如果你觀察Quarter over Quarter 或是 Year over Year的Free Cash Flow是逐漸成長的，代表這家公司的營運是成長的，這個公司做了許多正確的事。 他們有效增加收入了，對於資產做了有效的管理。他們降低了債務，他們有效降低了成本。

相反的，如果自由現金流的數字是逐漸降低，則代表公司將烏雲罩頂，可能未來的營運收入也將跟著降低或是更糟。這家公司可能將要提高債務或是減少股利發放。

不過，要小心所謂的自由現金流的數字，很容易被操弄。因為自由現金流的計算是切一個期末時間點，但是實際的經營是流動的。公司很容易將應收賬款（Account Receivable）和應付賬款（Account Payable）做調整。你必須在看現金流報告（Cash Flow Statement）的時候，同時仔細看損益表（Balance Sheet Statement）.

然而，對於企業經營者自己來說，儘管現金流報告是靜態時點的報告，你還是要定期的檢討，了解你實際有多少現金，究竟你可以往前走多少步，或是應該踩剎車了。

Understanding the Significance of Free Cash

Free Cash Flow is derived from the calculation and analysis of cash flow. Free cash flow is the amount of cash left after an enterprise pays operating expenses and capital expenditure expenses (such as new plant or equipment). You can think of it as the company's remaining cash after fulfilling the expected obligation to invest. But the real meaning is much more complicated.

For investors, he will eventually be concerned about Earnings Per Share or Net Income, but such results usually do not have a formal result until the end of the year, so investors will be concerned about the free cash flow generated by quarterly operations. Even the free cash flow after the end-of-year settlement is of great significance to the company's operators and investors. This at least demonstrates how strong the company can expand in the coming year and how resilient it is to risk.

Calculation of Free Cash Flow

Free Cash Flow = Net Cash Flow From Operations - Capital Expenditures

If you observe that Quarter over Quarter or Free Cash Flow of Year over Year is growing, it represents that the company's operations are growing, and the company has done a lot of the right things. They have effectively increased their income and managed their assets. They have reduced their debt, and they have effectively reduced their costs.

Conversely, if the number of free cash flows is gradually decreasing, it will mean that the company will be overwhelmed by dark clouds. Perhaps future operating income will also be reduced or worse. The company may be about to raise debt or reduce dividend payments.

However, be careful with the so-called free cash flow figures, which can easily be manipulated. Because the calculation of free cash flow is cut to a point at the end of the period, but the actual operation is mobile. Companies can easily adjust accounts receivable and payable. You have to look at the Cash Flow Statement and the Balance Sheet Statement.

However, for business operators themselves, even though cash flow reports are static time reports, you still need to review regularly to find out how much cash you actually have, how many steps you can take, or how many steps you should step on the brakes.