Operating Cash Flow
Operating Cash Flow (OCF) is the cash generated by a company's core business operations, before capital expenditures. It is the starting point for calculating free cash flow and serves as a measure of a company's ability to self-fund growth — a critical input for DCF stock valuation.
公式
示例
A company reports net income of $80M, adds back $20M in depreciation, and has a $5M increase in working capital. OCF = $80M + $20M − $5M = $95M. Subtracting $25M in capex gives free cash flow of $70M, which feeds into stock valuation.
为什么重要
OCF is harder to manipulate than net income and reveals whether reported earnings are backed by actual cash. In stock valuation, consistently strong OCF that converts to free cash flow signals business quality. A wide gap between net income and OCF is a red flag.
MiniValuator 如何使用 Operating Cash Flow
MiniValuator auto-fills operating cash flow from financial statements when you enter a ticker. It uses OCF minus capex to derive the FCF starting point for the DCF stock valuation model.
实战应用
相关术语
- Free Cash Flow (FCF) — Free Cash Flow (FCF) is the cash a company generates from its core business operations after funding...
- Discounted Cash Flow (DCF) — Discounted Cash Flow (DCF) is a fundamental stock valuation methodology that estimates the present v...
- Earnings Per Share (EPS) — Earnings Per Share (EPS) is a company's net income divided by its weighted average number of outstan...
- Intrinsic Value — Intrinsic value is the estimated true worth of an asset based on its fundamental economic characteri...
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