Mit dieser Frage hat sich der Motley FOOL 'mal beschäftigt, und dass dabei Silver WHEATON mit feisten 43,3% wirklich gut abschneiden musste, verwundert uns nicht:
July 21, 2011 Is Silver Wheaton a Cash King? By Jim ROYAL:
"As an investor, it pays to follow the cash. If you figure out how a company moves its money, you might eventually find some of that cash flowing into your pockets.
In this series, we'll highlight four big dogs in an industry, and compare their "cash king margins" over time, trying to determine which has the greatest likelihood of putting cash back in your pocket. After all, a company can pay dividends and buy back stock only after it's actually received cash -- not just when it books those accounting figments known as "profits."
Looking at a company's cash flow statement can help you determine whether its free cash flow actually backs up its reported profit. Companies that can create 10% or more free cash flow from their revenue can be powerful compounding machines for your portfolio.
To find the cash king margin, divide the free cash flow from the cash flow statement by sales: Cash king margin = Free cash flow / sales
Let's take McDonald's as an example. Over the last four quarters, the restaurateur generated $6.5 billion in operating cash flow. It invested about $2.2 billion in property, plant, and equipment. To calculate free cash flow, subtract McDonald's investment ($2.2 billion) from its operating cash flow ($6.5 billion). That leaves us with $4.3 billion in free cash flow, which the company can save for future expenditures or distribute to shareholders.
Taking McDonald's sales of $24.6 billion over the same period, we can figure that the company has a cash king margin of about 17% -- a nice high number. In other words, for every dollar of sales, McDonald's produces $0.17 in free cash"...
SOURCE / LINK / QUELLE dieses Ausschnitts: http://www.fool.com/investing/general/2011/07/21/...-a-cash-king.aspx ----------- Gold kauft den Wagen; Silber füttert die Pferde & füllt Dir den Tank... |