What is Free Cash Flow (FCF)?

Free cash flow is operating cash flow minus capital expenditures - cash available for debt, dividends, or growth.

Why does Free Cash Flow (FCF) matter?

Investors love FCF because it's hard to fake and funds real returns.

Don't report “Free Cash Flow (FCF)” with shifting definitions - trends will lie.

Free is minus capital expenditures - cash available for debt, , or growth.

Change the lens

Like I'm 5™ is your default. Curious how an investor or beginner would put this?

Try “Like I'm 5™” for a picture-book version - not the grown-up wording above.

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