Yes value is linked to its future free cash-clows. by definition: Value=sum(discounted future free cashflows)
Free cashflows are not the same thing as NPAT. If APT changed their accounting methods and reported a profit of $0.5b for last year, the value of the company wouldn't change. If they achieved an extra $0.5b of fcf the value definitely would change.
APT Price at posting:
$67.44 Sentiment: Buy Disclosure: Held
