The number the directors don't want you to find - MoneyWeek Investment Tutorials

[@MrArcelton]

I've seen enough of this guy's videos and those of others, to know that he is the one who stands tallest among the rest.

[@xicheung7867]

Discovered him over the weekend and I haven’t stopped binging 🙌 A* content

[@terrencesimmons4491]

9 years later and his videos are still making an impact

[@MiguelKouam]

Accounting is timeless

[@Caldeira198]

Now 12 years

[@spakuloid]

This is what KZbin is all about. Amazing information - great teacher. Well spoken and highly informative. Thank you.

[@jacobhernandez4347]

9 years ago wow . I love the fundamentals when analyzing companies the challenges and the abstract ideas . Thank you for all of your videos

[@chrisf1600]

"Directors hate this one number !" Thanks Tim, i've always wondered how to calculate FCF. You made it very clear and simple to understand.

[@stevekal5261]

I think every teacher should learn to structure explanation his way.. Greattttt

[@tommyharris5817]

There are no other tutorials as valuable as these for learning how to read company accounts and trying to calculate if it's a good or bad company.

[@theSilentPsycho]

I am grateful to have a teacher like him. Thanks to MoneyWeek and KZbin.

[@JohnDoe-iu5xi]

My God. Thank you for these videos. Valuation is so interesting. When you learn this material with no formal education from various sources there is no core "message". So you hear a lot of terms from different forums and you find it hard to attribute a meaning to ratios. "What is the WHOLE story these numbers are telling me?" I get what they represent but as a person outside the field I have no insight into why experienced players value these ratios. You give a great insight into WHY a ratio matters, and what it MEANS to people reading it off. Great teachings here.

[@NicosMind]

This presentation was excellent Tim. Thanks a lot :)

[@Seanis415]

So glad I found your videos. Very informative and helpful. Thank you.

[@mertyuceturk950]

Sir , I love your lessons...you are teaching the topics very well...these are the basics but i am also beginner on these subjects...I keep following you and putting likes...I wish the best for you...cheers man!

[@samuelspencer5047]

Thank you, I stumbled across this video by the function of KZbin algorithm and decided to view it, it is one of the best choices I've made today as it has introduced me to terms that are new to me (FCF & FCF yield), and ways to solidly the perception of whether a business is genuinely a good investment or not. You've got yourself a subscriber today.

[@malross8776]

Many thanks Tim. Great video! I have looked at a number of your videos now and each time I learn a little more. I have read books on the subject but few tell you what to actually look for AND what it tells you about the condition of the business. Malcolm

[@escofield]

We also use depreciation. I do on rental property.

[@eddieatum617]

You have always been a great teacher and very importantly here is, thank you for your time..

[@s3v0]

this man is very valuable! please teach me at my college I miss teachers like you

[@juliopadron5440]

This gentleman is so amazing! What an excellent teacher

[@anandtiwari2633]

Hats off to you, thanks for sharing your knowledge with masses!

[@ashishgarg5114]

Tim.. Best video seen explaining real stuff

[@nicknasad4802]

This is a great video on FCF and one of the few that covers FCF Yield. Glad I found it, but both of those terms are missing from the title or description which may make it harder for others to find...

[@shuyuye2505]

Great work. Clear and concise. Thank you

[@john-blair]

Thanks for video. So what would be a good FCF Yield such that it represents a bargain buy? You mention 5% is not great - what would be a good minimum?

[@alexalexandrakis8205]

Excellent video as all of your others. Well done and thank you.

[@Commando303X]

Another way to look at the end of the video: At 5.3% F.C.F.-yield, it would take ~18.87 years (i.e., 1 / 0.053) (ignoring inflation, dividends, and other factors) to earn back, as cash-returns, the amount of money you spent on the company.

[@Commando303X]

(Well, maybe not, as dividends would just be coming out of free cash flow. Please feel welcome to correct me. Thanks.)

[@sharathreddy8160]

Brilliant video! Love the explanations.

[@sergiomarques8590]

Excellent explanations. Very clear!

[@AmatriceBand]

this one is super important in checking companies

[@emmanuelkyeremeh4307]

wow! you know the stuff. well organized

[@ahmedtawfiq3625]

Thats a great content 🙌🏼🙌🏼👏🏼👏🏼👌🏼👌🏼

[@kenp3L]

It's better to have cash than an equal amount of receivables, but still, receivables are assets. It depends upon the quality of the debtor. A debtor can be dodgy or he can be honest and financially healthy. Still, it is legitimate to consider accounts receivable as assets under accrual-based accounting.

[@vin.handle]

Outstanding! As a mutual fund value investor I am investing in firms that have a relatively low Price/Book Value per share ratio. I assume that these same firms would also have a relatively low Price/Free Cash Flow per share ratio. This would make me feel good about value investing.

[@purple6932]

Lovely explanation with the random humour..."cleaning toilets during recession" lol ;)

[@Commando303X]

This is a terrific video, as are most of Tim Bennett's on finance (though, his Moneyweek segments I find to be markedly superior to his more recent, on Killik and Co.). This said, Bennett's comment on "amortization"'s being the American version of Britain's "depreciation" confused me for a long while after I watched this film initially: Both concepts of depreciation and of amortization are present in U.S. nomenclature - the former refers to tangible assets, whilst the latter to intangible.

[@ayush-jq4uf]

Best video. Thanks Sir.

[@Bortham7]

Thank you for the knowledge shared. I never thought of this

[@benhallo1553]

Absolutely brilliant. Especially the free cash flow as a tool to asses the safety of a dividend payment. I think with cyclical stocks like oil this would be great. I’m going to use this to do a worst case scenario test and see how comfortably shell can pay the dividend.

[@stijndescamps419]

I am struggling somewhat to exactly determine the FCF. I am looking at the 2020 Euronav financial report and it shows 3 main categories: net cash flow from operating, financial and investment activities. Adding these up gives a negative figure of approx 147M€ (and reported total profit of approx 470M for the year). But the (147M€) figure also includes 352 M€ of paid dividends... should I take this out in order to determine FCF? And if yes, probably there are other things also to take out? sorry for the newbie question....

[@bob6168able]

Excellent, Thank you

[@MrPvd1]

Great explanation of FCF. Thank you Tim.

[@reiol2675]

Sir. Pls give a sample with a set financial statement like P/L, BS, Cash Flow, The change of Capital/RE, a note of FS, a number of outstanding shares with numbers. So we can understand what are you talking about.

[@optionsupdate]

Mr Bennett can you point us in the direction of some sites that do calculate FCF for UK companies,

[@andrecamacho7660]

i like a lot your videos..and your way to explain things ... ... damn.. but that screaky marker on the white board...

[@corp9655]

Would fcf per share number 80% of eps be the actual so is fcf per share actual vs. EPS?

[@kevinfernando697]

"And I'll add a zed for good measure" hahaha

[@Anonymous-lw3nb]

Fcf yeild is a grt concept but the problem is now a day's most of the IT companies acquiring technology through M&A without disturbing their fcf yeild and report high fcf

[@yawzerdoink-a-sore-as]

Fuzzy math with creative accounting

[@Commando303X]

What about levered, versus unlevered, free cash flow?

[@mikemike9604]

bro, at <a href="#" class="seekto" data-time="1042">17:22</a> doesnt it make more sense to be FCF/(dividends x shares) ?

[@dilonsmith5143]

Right that calculation makes no sense

[@muntaserali7978]

Excellent video. I wish he taught me in school.

[@denniswong7520]

I love your presentation and British ascents ：)

[@truckerfromreno]

accent.

[@PrasenjitSarkarSingapore]

Very well explained.

[@robertocfaguiar]

Can you give an idea of what is a reasonable gap, 20, 30,40%.

[@coolkidbmx6851]

This guy here is a true G!

[@coolkidcrypto386]

Hard G

[@sandeepladdha19]

How much shd be FCF yield ?

[@cybrainx72]

why consider Interest Payable in Cash flow, should n't it be Interest Paid ?

[@AnionsCations]

Excellent video. Thank you

[@Commando303X]

How does free-cash-flow differ from the "Cash-and-Cash-Equivalents" figure on a company's financial statements?

[@matthewryan4844]

free cash flow is measuring the change from one statement to the next in the cash available for any purpose, cash and cash equivalents is on the balance sheet and is the total cash (or other equally liquid form) at the balance sheet date.

[@TXLionHeart]

ROPI (Residual OPerating Income) is a much better metric of performance than FCF...

[@klevdavful]

awe hell ! this guy is legit! you don't want to miss this guy he letting you know what the real deal is before you get yourself hyped up and invested into some stock to your research don't go in half cocked!

[@BadriNathJK]

Fcf yield is nice metric

[@ledererova]

Great presentation. Makes me actually fully understand the topic. I just wonder when Tim said that 5% of free cash flow yield is solid but doesnt scream a bargain. How much % would be a bargain? On a funny note his accent reminds me of Jimmy Carr.

[@scottlouis6116]

in this market, everything is expensive. i would say 5% + is good

[@djstr0b3]

Seriously sir, you are awesome!

[@pamkay9240]

Thanks

[@bangladesh6027]

Brilliant video

[@CmonBros]

Good Sir.. sir how to find hidden assets? Where can I find it?

[@jordan9318]

love the videos...... but please use a different pen. that squeek makes me cringe

[@dominickoh5790]

Hi! If EPS is 25 cents while free cash flow per share is 49 cents, what does it mean? Cause the earnings can't possibly be hyper efficient?

[@samuelspencer5047]

What do you mean by hyper efficient?

[@Irzani938]

might be wrong calculation for FCF or that company really undervalued?

[@williampratt5853]

This is FCF to equity. FCF is net of financing.

[@Nick-dq8gx]

great video

[@victoriakoenigbrok3163]

This guy is good!!

[@bob6168able]

What if the fcf is negative. !

[@pnorfy61]

Good job. thanks

[@vsIMF]

The way you write 'N' makes it look like a 'W'

[@MrEaglenator]

Nowhere I can find that exact formula, and it's quite confusing because in every of them, the result is different. :c I'll use Tim's formula, because it is the one that makes more sense.

[@namski2410]

Gold......this video

[@onehiccup]

Was tescos money mismanagement obvious?

[@chessdad182]

Cool stuff

[@christopherellis2663]

Which is why I prefer to buy EFTs

[@lksjfadlk]

"Directors hate him."

[@sadikmeah4057]

Reminds me of what ENRON did

[@gunnarjensen5910]

My FCF ratio feels a bit inadequate. Shauld I call Jim Carrey or Mike Tyson ?

[@willemverstraete1]

Gunnar Jense

[@dragonchr15]

Not an easy number to calculate....especially of you want to see 3-5 years.....

[@edger75]

Thanks but little too fast for a Dutch man...🤯

[@raviaulakh3082]

Only 2 of my liked videos. 2024🎉

[@CaravaggioRoma]

Too many concepts -complex concepts - in one video only. By the way, what is "p" in the price? pence?

[@leozanna2861]

Lorenzo Marchetti Secondo me è facile da comprendere (ovviamente, devi aver visto video che spiegano le basi prima).

[@Tyson007ian]

it means it's 3,195 cents (p means cents)

[@krishant]

♥️👍🏻

[@Tuxster3]

Actually, Americans do not refer to depreciation as amortization. Depreciation refers to TANGIBLES. While, amortization refers to INTANGIBLES. You're welcome!

[@zoltanpolgar1762]

Thanks Christian Bale

[@AlroyMartins]

Brilliant information. Thank you.