Sentences with phrase «operating free cash»

However, a cash bid is always hard to beat (especially if the bidder has the fire - power, and the desire, to raise it), and CQB shareholders may soon realise even a $ 13.00 cash bid could be far superior to a ChiquitaFyffes share price that could trade anywhere... As for Fyffes shareholders, at this point referencing a stand - alone intrinsic value might be a good idea again: Adjusted EBITA's notched a little higher to 3.8 %, but again operating free cash flow (Op FCF) has only averaged about 55 % of adjusted EBITA in the past few years.

Considering the history of success, and the current backlog / pipeline, it might seem unfair to handicap my valuation because of this cash shortfall — but let's be conservative here: The current operating free cash flow margin is 3.4 %, so let's average the two & utilize a 5.2 % adjusted margin (or 85 M).

[Plus we should think about net interest — currently at 10 % of total operating margin, but more than double that percentage in relation to operating free cash flow.

So I prefer to use Operating Free Cash Flow (Op FCF, i.e. cash generated from operations, less net PPE & development / intangible asset expenditure) as a more reliable proxy for underlying operating profit.

I struggled to define Operating Free Cash Flow, and in the end I've included Cash from Operations, Exceptional Items, Discontinued Activities Cashflow & Capex, Associate Dividends, PPE (Capex), Investment Property and Intangibles.

So, we have an average Operating Free Cash Flow Margin of 4.3 %, or a current GBP 34.75 mio based on GBP 804.2 mio of Revenues.

But on average over the last 3 years, UDG's operating free cash flow is barely over 60 % of adjusted operating profit (which management obviously prefers to highlight).

However, operating margins which previously averaged almost 23 % (prior to 2015) have taken a big hit since, though now appear stable around 14 % — consistent cash flow shortfalls (due to increasing receivables & more decentralised inventory, neither of which appears alarming) would suggest we focus on the last twelve months (LTM) operating free cash flow (Op FCF, i.e. operating cash flow, less capex) margin of 8.7 % instead.

The company's adjusted operating free cash flow (Op FCF, after adding back aircraft operating lease costs of EUR 45.2 million) margin remains pretty stable at 8.1 % — which deserves a 0.75 P / S multiple.

To arrive at operating free cash flow (Op FCF, a cash proxy for operating profit), we deduct PP&E & development expenditure.

Plus the company's high interest bill adds additional stress — net interest (inc. hybrid coupons) now stands at a whopping 37 % of operating free cash flow.

Plus I'm frustrated to see much of the company's operating cash generation being absorbed by working capital — LTM operating free cash flow margin's a mere 0.2 %, although the 2012 - 13 average of 1.6 % is probably more representative.

However, operating free cash flow's averaged 134 % of operating profit over the same period — add financial income, and average adjusted operating free cash flow was 28.0 %.

That looks pretty rich when its operating free cash flow margin's averaged just 6.8 % in the past two years, while free cash flow was negligible.

Again, I'll focus on operating free cash flow — cash generated from operations, less capex / intangibles — rather than EBITDA or operating profit.

the cost of the Saga acquisition, the company: i) has a rather stunning 3 year average adjusted operating free cash flow margin of 50.3 %, and ii) trades at just 7.1 times its 3 year average free cash flow.

We also continue to see a large disconnect between adjusted operating profit (at 15.5 %) & operating free cash flow (at 9.0 %).

Fortunately, operating free cash flow margin's now reached 9.0 %.

Let's add them back to calculate adjusted (i.e. normal) net operating cash flow (Op CF), and deduct net PPE to arrive at operating free cash flow (Op FCF).

And just in case you think I'm simply cherry - picking numbers out of thin air here, it's important to note the company actually generated operating free cash flow (i.e. operating cash flow, less net capex) of EUR 42 million in the past two years — that's an average 8.0 % Op FCF margin!

Finally, cash - flow looks reasonable, with operating free cash - flow (after interest, taxes & net intangibles / PPE) basically flat in 2011 & H1 2012.

Operating free cash flow can support the current 4.5 M interest paid bill fairly comfortably, so we'll only adjust for 18.5 M of cash on hand & 17.0 M received since (final settlement of the Pride of Bilbao outstanding receivable).

Let's look to operating margins instead: Since the company enjoys generous operating cash flows & limited net capex, we'll focus on FY - 2013 operating free cash flow of EUR 35 million.

Unfortunately, we still see negative operating free cash flow as the company continues to invest heavily in its platform (though it should turn positive on a FY basis)...

Since KWG ticked the box fr me, the only sentence tht remained was: «Finally, cash - flow looks reasonable, with operating free cash - flow (after interest, taxes & net intangibles / PPE) basically flat in 2011 & H1 2012 ′.

Underlying operating free cash flow is increasingly a metric which I am trying to incorporate into my own analysis.

Greencore reported an operating margin of 6.4 % (which tells you a lot about the reality of their business anyway), but operating free cash flow (Op FCF) margin came in at just 3.8 % (mostly due to GBP 20 million of exceptional cash expenses).

Picard)... however, operating free cash flow (operating cash flow, less capex & intangibles) margin of 8.1 % still falls well short.

Noting the never - ending exceptional expenses, plus continued shortfalls in operating free cash flow, a 0.875 Price / Sales multiple remains perfectly adequate.

The new CEO & board delivered a remarkable 28 % jump in revenue & a near - EUR 4 million turn - around in operating free cash flow (Op FCF).

Looking back, we enjoy the benefit of hindsight... but let's not under - estimate the existential threat to the company at the time: Operating free cash flow was minimal, there was little opportunity to realise assets (except at fire - sale prices) in 2009 - 11, almost EUR 400 million of net losses, investment write - downs & goodwill impairments were recorded in the five years ending in 2012 (which actually understates a near - 85 % collapse in net equity), as the banks kept shrinking their committed facilities & imposing harsher terms (and seriously considering pulling the plug).

This confirms operating free cash flow continues to fall well short (of operating profit) at 23 M.

to TAM's operating free cash flow here, as taxes & interest income / expense are fairly negligible):

Judging by management's enthusiasm, I expect the US to be a bottomless pit of investment for years to come — so operating free cash flow (of GBP 9.8 M) is unlikely to improve.

That actually translated into $ 4 m of positive operating free cash flow (exc.

Fortunately, this kind of stagnation often benefits the cash flow statement — something we can reasonably expect again in 2014 — for 2013, this resulted in a 5.6 % operating free cash flow (Op FCF) margin.

More troubling is the lack of operating free cash flow (cash generated from operations, less PPE & intangibles).

However, we're still seeing a huge disconnect between EBITDA & operating free cash flow margins (Op FCF: Operating cash flow, less net PPE / intangible expenditure).

Not surprisingly, I've used the same valuation approach as with CPL (CPL: ID) and CRH (CRH: ID), but with one interesting twist: Operating Free Cash Flow (FCF) leads and lags operating profitability in a bust and boom, respectively.

Operating free cash flow reached a record $ 143.2 million for the 12 months ended June 30, 2014.

«We will continue to invest our operating free cash flow to generate long - term sustainable profit growth,» the company said in its release.

Not exact matches

• free cash flow: net cash flow from operating and investing activities excluding the impact of portfolio management.

We refer to the net amount of cash generated from operating activities and investing activities (excluding changes in restricted cash and acquisitions) from continuing operations as «free cash flow».

We calculate free cash flow as the sum of net cash provided by operating activities and net cash provided by the sale of revenue earning equipment and operating property and equipment, collections on direct finance leases and other cash inflows from investing activities, less purchases of property and revenue earning equipment.

Free Cash Flow - Net cash provided by operating activities less cash purchases of property and equipment, including proceeds related to beneficial interests in securitization transactions and less cash payments for debt prepayment of debt extinguishment coCash Flow - Net cash provided by operating activities less cash purchases of property and equipment, including proceeds related to beneficial interests in securitization transactions and less cash payments for debt prepayment of debt extinguishment cocash provided by operating activities less cash purchases of property and equipment, including proceeds related to beneficial interests in securitization transactions and less cash payments for debt prepayment of debt extinguishment cocash purchases of property and equipment, including proceeds related to beneficial interests in securitization transactions and less cash payments for debt prepayment of debt extinguishment cocash payments for debt prepayment of debt extinguishment costs.

Organic Net Revenue, Adjusted Operating Income (and Adjusted Operating Income margin), Adjusted EPS, Adjusted Gross Profit (and Adjusted Gross Profit margin), Free Cash Flow and presentation of amounts in constant currency are non-GAAP financial measures.

At the meeting in late 2016, executives said Quidsi would also generate significant free cash flow in 2017, which is notable because Amazon CEO Jeff Bezos has long said that he cares more about free cash flow than he does profit margins or profitability metrics such as operating income and net income.

Free cash flow represents operating cash flows less net purchases of property and equipment and patent and licensing rights.

These non-GAAP measures include non-GAAP gross margin, non-GAAP operating income, non-GAAP non-operating income, net, non-GAAP net income, non-GAAP diluted (loss) earnings per share and free cash flow.

Cree considers free cash flow to be an operating performance and a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business after the purchases of property and equipment, a portion of which can then be used to, among other things, invest in Cree's business, make strategic acquisitions, strengthen the balance sheet and repurchase stock.