The last metric, known by some as free cash flow, is calculated by subtracting dividends and capital expenditures from operating cash flow.

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Growth of free cash flow (cash flow from operations minus capital expenditures) is slowing and actually fell 29% in the last quarter compared with a year earlier.

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We define free cash flow as net cash provided by operating activities less capital expenditures.

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At less than 5% of operating cash flow in 2009, its capital expenditures are miniscule.

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Greenberger's calculation of free cash flow is the cash remaining when all expenses--excluding capital expenditures--have been accounted for.

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In fact, Chief Financial Officer Russell Ball indicated that with planned dividend payouts, debt payments, operating expenses, capital expenditures and lower cash flow from Batu Hijau operations in Indonesia, the company will spend more than it earns through 2013, but then this is expected to reverse.

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Capital expenditures could snap back considering corporate cash flow is very positive.

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You get that number by taking the "cash flow from operations" reported on the "consolidated statement of cash flows, " then subtracting capital expenditures.

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He scours Asia for enterprises that sell into large and expanding markets and have high or rapidly rising returns on equity, strong free cash flow (meaning net income plus depreciation minus capital expenditures, adjusted for working capital) and a focused long-term strategy.

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