Hi Vic, since Madamswer hasn't been posting for a little while I thought I would go through what I get.
All data is from the FY 2018 report.
It seems you are using FCF = OCF - NCFI (cash out flow for investing)
OCF of 139.7m
NCFI of 28.7m
FCF = 139.7 - 28.7 = 111m
market cap = 1886m
FCF yield = (111/1886)*100 = 5.9%
Normally the dividend is included in the FCF and not taken out, as that is cash the business is producing and can be paid out - i.e. free cashflow.
Anyway I have been a holder of TME for around 4 years now and each year that FCF has been growing, along with increased business invesment. The valuation still seems pretty attractive even after the little increase recently.
Hi Vic, since Madamswer hasn't been posting for a little while I...
Currently unlisted. Proposed listing date: 16 SEPTEMBER 2024 #