这里的net capital expenditure怎么算的

问题如下：

Based on Exhibits 5–7, in comparison to Company X, Company Y has a higher:

选项：

debt/capital ratio.

debt/EBITDA ratio.

free cash flow after dividends/debt ratio.

解释：

C is correct.

Company Y has a higher ratio of free cash flow after dividends to debt than Company X, not lower, as shown in the following table. Free cash flow after dividends as a % of debt = FCF after dividends/Debt

考点：4C分析

解析：由下表可得，Y公司有更高的free cash flow after dividends/debt ratio，故C选项正确。