The starting point for any Discounted Free Cash Flow (DCF) valuation the understanding of what ‘free cash flow’ is, how to calculate it and how to forecast it. This is part one of three parts plus a theory video with Keith McLachlan. Part 2 (forecasting free cash flow) is here. Part 3 (practical) is here. ...

Discounted cash flow. Now that we understand what free cash flow is (find the part one video here), we can begin to look at the complexities in forecasting it with Keith McLachlan. These forecasts of free cash flow then become the basis of our DCF Model which will be part three which you'll find here. ...