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Just as your pulse is checked during a routine physical, free cash flow is used as an indicator of a company's health. It equals the cash brought in from operations minus the money needed to pay the bills. Think about leftover money in your checking account after you pay this month's bills.
Investors and analysts see this leftover money as a gauge of a company's ability to perform. It is available for transactions such as handing out dividends and working on new products.
Some argue free cash flow is wrongly overshadowed by the emphasis often placed on earnings. Earnings numbers can be manipulated and don't always tell the whole story -- and earnings don't mean much if there's nothing left over after a company pays its expenses. Even if you bring in a six-figure salary, but no money left after paying the bills, are you in great financial shape?
You don't have to be Einstein to figure out free cash flow. To calculate the number, subtract the company's expenditures and dividends from its operating cash flow.
If the free cash flow is written in red ink, it doesn't necessarily signal curtains. This is common for young companies looking to grow. It also could be a result of heavy investments, which in the long run could be worth a standing ovation.
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Friday, May 09, 2008
Chevron Contributes $2 Million to Myanmar Cyclone Relief
Comtex
SAN RAMON, Calif., May 09, 2008 (BUSINESS WIRE) ----Chevron Corporation (NSYE: CVX) today announced that it has contributed $2 million to provide assistance to those affected by the recent devastating cyclone in Myanmar. The International Federation of the Red Cross will receive a $1 million contribution. An additional $1 million will be allocated to four other organizations: the International Organization for Migration, Mercy Corps, Pact and Save the Children.
The contributions will aid disaster relief efforts for Cyclone Nargis that struck Myanmar May 2, 2008, and caused widespread destruction along the country's southern coast and southeast regions.
"We share the concerns of the global community for the welfare of those affected by this terrible tragedy," said Chevron Vice Chairman Peter Robertson. "We are pleased to partner with these aid agencies to provide immediate help to victims of the cyclone."
"Chevron's contribution represents our commitment to the people of Myanmar," said Jim Blackwell, president, Chevron Asia Pacific Exploration & Production. "This direct aid is intended to help relieve the suffering of those in the hardest hit areas."
Chevron Corporation is one of the world's leading integrated energy companies, with subsidiaries that conduct business across the globe. The company's success is driven by the ingenuity and commitment of approximately 59,000 employees who operate across the energy spectrum. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops and commercializes the energy resources of the future, including biofuels and other renewables. Chevron is based in San Ramon, Calif. More information about Chevron is available at www.chevron.com.
SOURCE: Chevron Corporation
Chevron Corporation Kurt Glaubitz, San Ramon, US, 925-842-2561
Copyright Business Wire 2008
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