Cash flow is a company’s operating inflow of cash minus its outflow of cash. It’s calculated by adding net income plus non-cash charges such as depreciation, depletion and amortization. Simply put, it’s earnings without taking into account non-cash charges such as depreciation, depletion and the write-off of intangible assets over time.
Cash flow is particularly useful in valuing companies in industries in which depreciation and depletion charges are based on the historical value of assets instead of current values-industries such as oil and gas and real estate. Note though, that as with any financial ratio or number, you have to look at it in context with many other factors. That’s not to say that there won’t be surprises that affect every company in a particular industry. But well-established stocks have the asset size and the financial clout-including solid balance sheets and strong cash flow-to weather market downturns or changing industry conditions.
In summary, cash flow is in many ways a better measure of a company’s performance than earnings. While reported earnings are subject to accounting interpretation and can be restated in later years, cash flow is a measure of the cash flowing into a company right now less cash outlays.
Investors should always seek out information about cash flow when analysing a stock-but you should also keep TSI Network’s three-part Successful Investor philosophy in mind:
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Higher shipping volumes helped this rail giant increase revenue 13% in the most recent quarter, with earnings rocketing up 32.9%.
The company remains on track to spend $1.6 billion on upgrades to tracks and locomotives in 2019 in response to new federal regulations.
The stock trades at… Read More
This oil and gas company continues to have drilling success at its Western Canadian project sites, but a cut to its exploration and development spending has now impacted its production.
That 7.6% decline in output lowered cash flow by 18.5% in the most-recent quarter. The company… Read More
A: Albemarle Corp., $64.53, symbol ALB on New York (Shares outstanding: 106.0 million; Market cap: $6.9 billion; www.albemarle.com), is a global specialty chemicals company with three main businesses: Lithium, Bromine Specialties, and Refining Catalysts. The end markets it serves include petroleum refining, consumer electronics, energy storage,… Read More
A: Bridgemarq Real Estate Services, $13.90, symbol BRE on Toronto (Shares outstanding: 9.5 million; Market cap: $132.5 million; www.bridgemarq.com), is a leading provider of services to residential real estate brokers. Its network is comprised of 19,046 real estate agents working with 337 broker-owners, who operate 671… Read More
ALIMENTATION COUCHE-TARD INC., $83.33, symbol ATD.B on Toronto, operates 12,661 convenience stores across North America and Europe.
The company continues to expand into the market for cannabis. Its latest move is an investment in Fire & Flower Holdings Corp. (symbol FAF on Toronto).
This includes an 8%… Read More
Sales of non-core assets plus future projects should let this company raise its dividend 8% to 10% annually through 2021.
Asset sales will help fund new pipeline projects as the company grapples with legal and environmental opposition to its proposed $8 billion U.S. Keystone XL pipeline.
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TC… Read More
A: Agnico Eagle Mines Ltd., $77.69, symbol AEM on Toronto (Shares outstanding: 234.5 million; Market cap: $18.7 billion; www.agnico-eagle.com), has eight mines in Canada (LaRonde, Meadowbank, Meliadine, Goldex and Malarctic), one in Finland (Kittila) and two in Mexico (Pinos Altos and La India).
In the three… Read More
Putting lower-risk blue chip stocks and the top ETFs that hold those stocks into your portfolio will let you tap into the best conservative investments for long-term gains
Conservative investing is an investment strategy that involves a focus on lower-risk, predictable and stable businesses. This strategy… Read More
The company now plans to buy back up to $213 million U.S. of its common shares in a move that rewards investors.
It also continues to expand its operations, with a recent shale oil and natural gas acquisition in the U.S. adding debt but providing a.. Read More
While one of these two oil and gas producers raised its output 25.6% in the recent quarter, the other saw production slip by 1%. Only one saw its cash flow jump 40.5%
Still, a renewed focus on core production areas in the U.S. let both reward… Read More
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Changes to this Policy
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