问题如下:
Matt is forecasting FCFE for three companies by using the following equation: FCFE = NI – (1 – DR)(FCInv – Dep + WCInv). The relevant information of three companies is given in the following table. Which company is most likely inappropriate in using the equation?
选项:
A.Company B
B.Company C
C.Company A
解释:
A is correct.
考点:Special Issues: NCC Adjustments
解析:题干中给出的计算FCFE的公式中只考虑了折旧这一项NCC,但是B公司相比其他两家公司有大量的除折旧外的NCC,所以B公司是最不适合用这个公式来计算FCFE的。
想问一下,公司A的FCFE计算出来等于多少?我算的是FC=2400, WC=-285. NB=-475,这样算下来,FCFE就是负数了。。