In valuation of firms, the DCF model has been the mainstream model and has been widely used in valuation. 在企業(yè)估價(jià)中，折現現金流量模型已成為估價(jià)中的主流模型得到廣泛的應用。
On this basis work, the paper analyses the process of adjusting net accounting profit to operating cash flow and suggests the adjusted FCF model computing from operating cash flow. 在此基礎上，結合將凈利潤調節為經(jīng)營(yíng)活動(dòng)的現金流量的過(guò)程，提出了以經(jīng)營(yíng)現金流量為計算出發(fā)點(diǎn)的修正自由現金流量模型，并給出計算實(shí)例。
