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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.
Home / Markets / Industries / Finance
Wednesday, June 11, 2008
Accenture to Provide Application Outsourcing Services to ICAP
Comtex
NEW YORK, Jun 11, 2008 (BUSINESS WIRE) ----ICAP plc, the world's premier interdealer broker, has selected Accenture (NYSE: ACN) to develop and maintain its European Union credit-trading platform under a five-year application outsourcing agreement.
"This initiative is designed to increase the capabilities and cost-efficiencies of our credit-trading platform in order to continue to drive growth in an increasingly dynamic and evolving global marketplace," said James Dawson, business manager, credit products at ICAP.
Accenture will provide technology development and outsourcing services to ICAP through its Global Delivery Network, which includes more than 50 delivery centers across five continents.
"The leading capital markets firms today are focused on achieving the right balance of cost-reduction, long-term operational excellence and opportunistic expansion," said Lloyd Altman, a senior executive in Accenture's Capital Markets practice. "This strategic outsourcing agreement reflects ICAP's sharp global vision for growth and deep commitment to service excellence and shareholder value."
About Accenture
Accenture is a global management consulting, technology services and outsourcing company. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. With 178,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007. Its home page is www.accenture.com.
About ICAP
ICAP is the world's premier voice and electronic interdealer broker and the source of global market information and commentary for professionals in the international financial markets. The Group is active in the wholesale markets in interest rates, credit, commodities, foreign exchange and equity derivatives. ICAP has an average daily transaction volume in excess of $1.5 trillion, more than 60% of which is electronic. ICAP plc was added to the FTSE 100 Index on 30 June 2006. For more information go to www.icap.com.
SOURCE: Accenture
Accenture Sean Conway, +1-917-452-6444 sean.k.conway@accenture.com
Copyright Business Wire 2008 ********************************************************************** As of Saturday, 06-07-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated an UPTREND on 03-24-2008 for ACN @ $35.70. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
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