基于自由现金流的公司价值分析

通过比较中美两国在处理和计算自由现金流量方面的不同,提出了自由现金流量的计算方法,并论述了在我国会计准则下如何通过会计调整计算自由现金流量。结合公司的基本面,以财务报表的调整为基础,从基本的财务资料出发,在考虑企业经营环境和行业动态的影响下,通过对公司自由现金流量的分析和计算,提出了以自由现金流量为基础来评价公司价值的方法。

Corporation Value Based on Free Cash flow

The concept free cash flow has put forward and brought to bear in practice for decade, but it has not received enough attention from financial theory and practice finance. The paper gives on the main line of modem financial operating system on free cash flow, and makes the next step pick up the particular thought about financial management serving for the maximal corporation value. Basing on adjusting fmancial statement analysis and basic financial ratio, the author proposes the method the corporation value evaluation based on handhold computing Free Cash Flow.