问题如下：
Jacques is conducting an analysis of TMT, a publicly traded European petrochemical engineering company. Jacques intends to use a price-to-cash flow multiple in valuing the shares and the cash flow measure in the multiple would account for both working capital and non-cash revenues, and also be after interest expense and thus not be mismatched with share price. Therefore, the most appropriate cash flow measure for TMT is?
选项：
A.EBITDA.
B.earnings plus non-cash charges.
C.FCFE.
解释：
C is correct.
考点：Computing FCFE From Different Accounting Items.
解析：C是正确的。股东自由现金流(FCFE)是指扣除所有运营费用、利息和债务支付以及营运和固定资本投资后股东可自由支配的现金流。根据Jacque对现金流要求，FCFE满足这一要求。
不是说要考虑working capital么，FCFE已经减掉了working capital，不是很理解
