Goldman: Misleading Accounting Makes Free Cash Flow Yield IrrelevantRupert Hargreaves
The S&P 500 may look expensive on most traditional valuation metrics, however, according to Goldman Sachs due to a record low level of capital spending; the index appears attractive when valued on free cash flow yield.
Indeed, according to a recent research report from the investment bank, capital expenditure as a percentage of cash flow from operations ranks in just . . .
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