13-11-2014, 03:39 PM
(12-11-2014, 07:25 AM)greengiraffe Wrote: From my impression, the cash generated is not up to what was reported in terms of accounting earnings plus several significant one-offs.
Please correct me if I m not wrong.
Make no mistake - Super is no F&N and let alone trying to match up 10% of Nestle.
Vested
Odd Lots
GG
To contribute some number here for reference.
In the last 5 years, the indicator of cash earning return on equity (in %) are the following. The definition of cash earning return on equity is (OCF before WC change)/Equity
2013 : 23%
2012 : 24%
2011 : 20%
2010 : 19%
2009 : 17%
The cash return is significant.
(not vested)
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡