Owner FCFF TTM
Owners FCFF TTM
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Based on Bruce Greenwald's Growth Capital Expenditure, I arrive at the followings:
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Growth Cap Expenditure TTM
= Average 7 Years { (PPE + ROU + Depreciation of PPE + Depreciation of ROU) ÷ Revenue } × Revenue's Increment TTM
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or
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Growth Cap Expenditure TTM
= { ∑ 7Year (PPE + ROU + Depreciation of PPE + Depreciation of ROU) ÷ ∑ 7Year Revenue } ÷ 7 × Revenue's Increment TTM
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Maintenance Cap Expenditure TTM
= Investing Cash Flow Activity's Capital Expenditures in PPE & ROU - Growth Cap Expenditure TTM
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Owners FCFF TTM
= Warren Buffett's Owner’s Earnings TTM
= Net Cash Generated by Operating Activities TTM - Maintenance Cap Expenditure TTM
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CROIC TTM
= Owner FCFF TTM ÷ Invested Capital TTM
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Quality of Earnings TTM
= CROIC TTM ÷ ROIC TTM
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Owners FCFF includes shareholders + non-controlling interest parties.
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Other info:
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FCFF (is the usual FCF extracted from the financial cash flow statement) includes shareholders’ + non-controlling interest parties’ portions.
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Therefore FCFF (is the usual FCF extracted from the financial cash flow statement) should be adjusted accordingly if “non-controlling interest parties” is not zero.