NO.PZ2018062002000155
问题如下：
Analysts use a variety of models to estimate the value of stocks. Free cash flow to equity is most likely to be used in which valuation model?
选项：
A.Asset-based models.
B.Market multiple models.
C.Present value models.
解释：
C is correct.
Under a present value models, a stock’s value can be estimated as the present value of cash available to shareholders after the firm meets its necessary capital expenditures and working capital expenses.
考点：FCFE Model
我们用自由现金流折现得到股票价值的模型就叫做现值模型present value model。
A说的是基于资产的模型（Asset based model），这个模型的估值原理是基于公司资产和负债的市场价值来推出权益的价值。
B说的是乘数法，不需要用到FCFE.
老师，present value model就是DCF models吗?
