The average growth of its free cash flow per share over the past 10 years was 11%.
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Next it looks at cash and wants cash flow per share to be higher than that of the average publicly-traded company.
Time Warner sells for 11 times estimated 2005 cash flow per share.
Most of these actions were necessitated by sudden and substantial declines in free cash flow resulting from recession-induced contractions in property cash flows and per-share cash flow dilution caused by the issuances of additional equity.
Nobody was really ever measuring it in terms of profits or on a cash-flow-per-share basis, or anything like that.
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Seagate expects these transactions and agreements to be meaningfully accretive to non-GAAP diluted earnings per share and cash flow within the first full year following the closing, and Seagate does not expect any material restructuring costs in connection with them.
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This combination is also financially compelling, and we expect it to deliver enhanced earnings per share and free cash flow generation, creating meaningful value for our shareholders.
Utilities hold at 14 times earnings, carrying 4 percent yields, but minimal incremental free cash flow to bump up dividends more than pennies per share.
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These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income tax expense, non-GAAP net income, non-GAAP net income, or earnings, per share, and free cash flow.
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Consider: Since March of 2001 Cytyc's free cash flow (operating cash flow less spending on property, plant and equipment) has increased from 26 cents per share to 83 cents per share.
Monthly dividends, which are funded from a strong cash flow, have been steady at about 10 cents per share and provide a whopping 15% yield.
Last year earnings per share rose 19%, while cash flow from operations declined 10%.
We believe it will grow to around 35 cents per share next year, just through internally generated cash flow.
Over the same time period its revenue per share increased at an annual rate of 5.2%, free cash flow at 19.3% and book value at 8.1%.
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