{"id":3304,"date":"2024-11-09T06:00:00","date_gmt":"2024-11-08T21:00:00","guid":{"rendered":"https:\/\/rad-st.jp\/?p=3304"},"modified":"2024-10-04T08:36:28","modified_gmt":"2024-10-03T23:36:28","slug":"%e3%83%95%e3%82%a1%e3%82%a4%e3%83%8a%e3%83%b3%e3%82%b9%e3%81%ae%e5%9f%ba%e6%9c%ac%e3%80%8cfcf%ef%bc%88%e3%83%95%e3%83%aa%e3%83%bc%e3%82%ad%e3%83%a3%e3%83%83%e3%82%b7%e3%83%a5%e3%83%95%e3%83%ad","status":"publish","type":"post","link":"https:\/\/rad-st.jp\/?p=3304","title":{"rendered":"\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u57fa\u672c\u300cFCF\uff08\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff09\u300d\u3068\u306f\uff1f\u6982\u8981\u30fb\u30dd\u30a4\u30f3\u30c8\u307e\u3068\u3081"},"content":{"rendered":"\n

**\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08FCF: Free Cash Flow\uff09**\u306f\u3001\u4f01\u696d\u304c\u5b9f\u969b\u306b\u624b\u5143\u306b\u6b8b\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u306e\u91d1\u984d\u3092\u793a\u3059\u8ca1\u52d9\u6307\u6a19\u3067\u3001\u4f01\u696d\u304c\u4e8b\u696d\u904b\u55b6\u3092\u7dad\u6301\u3057\u306a\u304c\u3089\u81ea\u7531\u306b\u4f7f\u3048\u308b\u8cc7\u91d1\u306e\u91cf\u3092\u8868\u3057\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u6295\u8cc7\u5bb6\u3084\u7d4c\u55b6\u8005\u304c\u4f01\u696d\u306e\u8ca1\u52d9\u72b6\u614b\u3092\u628a\u63e1\u3059\u308b\u305f\u3081\u306b\u975e\u5e38\u306b\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002<\/p>\n

\n

FCF\u306e\u5b9a\u7fa9\u3068\u8a08\u7b97\u65b9\u6cd5<\/strong><\/h3>\n

\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc = \u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc – \u8a2d\u5099\u6295\u8cc7\u984d<\/strong><\/p>\n

    \n
  1. \n

    \u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/strong>
    \u4f01\u696d\u304c\u672c\u696d\u306b\u3088\u3063\u3066\u5f97\u305f\u73fe\u91d1\u53ce\u5165\u304b\u3089\u3001\u904b\u8ee2\u8cc7\u672c\uff08\u58f2\u639b\u91d1\u3084\u5728\u5eab\u306a\u3069\u306e\u8cc7\u7523\u5909\u52d5\uff09\u306e\u5897\u6e1b\u3092\u53cd\u6620\u3057\u305f\u73fe\u91d1\u53ce\u652f\u3002<\/p>\n<\/li>\n

  2. \n

    \u8a2d\u5099\u6295\u8cc7\u984d<\/strong>
    \u4f01\u696d\u306e\u6210\u9577\u3084\u7dad\u6301\u306e\u305f\u3081\u306b\u884c\u3046\u8a2d\u5099\u6295\u8cc7\u306a\u3069\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30a2\u30a6\u30c8\u30d5\u30ed\u30fc\uff08\u73fe\u91d1\u306e\u652f\u51fa\uff09\u3002<\/p>\n<\/li>\n<\/ol>\n

    \n

    FCF\u306e\u7279\u5fb4\u3068\u30e1\u30ea\u30c3\u30c8<\/strong><\/h3>\n
      \n
    1. \n

      \u5b9f\u969b\u306e\u8cc7\u91d1\u72b6\u6cc1\u306e\u628a\u63e1<\/strong>
      FCF\u306f\u3001\u4f01\u696d\u304c\u6bce\u5e74\u3069\u308c\u3060\u3051\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u624b\u5143\u306b\u6b8b\u305b\u308b\u304b\u3092\u793a\u3057\u3001\u6295\u8cc7\u3084\u50b5\u52d9\u8fd4\u6e08\u3001\u914d\u5f53\u91d1\u306e\u652f\u6255\u3044\u306b\u4f7f\u3048\u308b\u8cc7\u91d1\u306e\u4f59\u88d5\u3092\u628a\u63e1\u3059\u308b\u305f\u3081\u306b\u6709\u52b9\u3067\u3059\u3002<\/p>\n<\/li>\n

    2. \n

      \u7d4c\u55b6\u5224\u65ad\u306e\u6307\u6a19<\/strong>
      \u6295\u8cc7\u5bb6\u3084\u7d4c\u55b6\u8005\u306f\u3001\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u30d7\u30e9\u30b9\u3067\u3042\u308c\u3070\u4f01\u696d\u304c\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u308b\u3068\u5224\u65ad\u3067\u304d\u307e\u3059\u3002\u9006\u306b\u30de\u30a4\u30ca\u30b9\u3067\u3042\u308c\u3070\u3001\u4e8b\u696d\u904b\u55b6\u3084\u6295\u8cc7\u306b\u591a\u304f\u306e\u8cc7\u91d1\u304c\u5fc5\u8981\u3067\u3001\u73fe\u91d1\u304c\u4e0d\u8db3\u3057\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n

    3. \n

      \u5c06\u6765\u306e\u6210\u9577\u3068\u30ea\u30b9\u30af\u8a55\u4fa1<\/strong>
      FCF\u3092\u901a\u3058\u3066\u3001\u4f01\u696d\u304c\u5c06\u6765\u7684\u306b\u3069\u308c\u3060\u3051\u6210\u9577\u306e\u4f59\u5730\u304c\u3042\u308b\u306e\u304b\u3001\u3042\u308b\u3044\u306f\u50b5\u52d9\u3092\u8fd4\u6e08\u3067\u304d\u308b\u304b\u306e\u8a55\u4fa1\u306b\u4f7f\u308f\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ol>\n

      \n

      FCF\u3068\u4ed6\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u6307\u6a19\u306e\u9055\u3044<\/strong><\/h3>\n
        \n
      • \n

        \u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08CFO\uff09<\/strong>
        \u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u3001\u4e8b\u696d\u6d3b\u52d5\u306b\u3088\u308b\u73fe\u91d1\u53ce\u652f\u3092\u8868\u3057\u307e\u3059\u304c\u3001\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u3053\u308c\u306b\u8a2d\u5099\u6295\u8cc7\u306a\u3069\u306e\u8cc7\u672c\u652f\u51fa\u3092\u5f15\u3044\u305f\u3082\u306e\u3067\u3059\u3002\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u7d14\u7c8b\u306a\u55b6\u696d\u6d3b\u52d5\u306e\u6210\u679c\u3092\u793a\u3057\u307e\u3059\u304c\u3001FCF\u306f\u6210\u9577\u306b\u4f34\u3046\u6295\u8cc7\u3082\u542b\u3081\u305f\u5b9f\u969b\u306e\u8cc7\u91d1\u4f59\u5270\u3092\u53cd\u6620\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

      • \n

        EBITDA<\/strong>
        EBITDA\u306f\u5229\u76ca\u3092\u30d9\u30fc\u30b9\u306b\u3057\u305f\u6307\u6a19\u3067\u3001\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u30ad\u30e3\u30c3\u30b7\u30e5\u306e\u6d41\u308c\u306b\u7126\u70b9\u3092\u5f53\u3066\u305f\u6307\u6a19\u3067\u3059\u3002EBITDA\u306f\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3092\u8a55\u4fa1\u3059\u308b\u969b\u306b\u4f7f\u308f\u308c\u308b\u306e\u306b\u5bfe\u3057\u3066\u3001FCF\u306f\u305d\u306e\u53ce\u76ca\u529b\u304c\u3069\u308c\u3060\u3051\u306e\u73fe\u91d1\u3092\u751f\u307f\u51fa\u3059\u304b\u306b\u7740\u76ee\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n

        \u00a0<\/p>\n

        \u00a0<\/p>\n

        \n

        FCF\u304c\u4f7f\u308f\u308c\u308b\u5834\u9762<\/strong><\/h3>\n
          \n
        1. \n

          \u4f01\u696d\u306e\u8ca1\u52d9\u5065\u5168\u6027\u3092\u8a55\u4fa1<\/strong>
          FCF\u304c\u30d7\u30e9\u30b9\u3067\u3042\u308c\u3070\u3001\u4f01\u696d\u306f\u5341\u5206\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u751f\u307f\u51fa\u3057\u3066\u304a\u308a\u3001\u914d\u5f53\u306e\u652f\u6255\u3044\u3084\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u306a\u3069\u306b\u554f\u984c\u304c\u306a\u3044\u3068\u5224\u65ad\u3067\u304d\u307e\u3059\u3002\u30de\u30a4\u30ca\u30b9\u306e\u5834\u5408\u3001\u73fe\u91d1\u4e0d\u8db3\u306e\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308b\u305f\u3081\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<\/li>\n

        2. \n

          \u6295\u8cc7\u5224\u65ad\u306b\u304a\u3051\u308b\u91cd\u8981\u6307\u6a19<\/strong>
          FCF\u306f\u3001\u4f01\u696d\u304c\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u751f\u307f\u51fa\u3057\u7d9a\u3051\u308b\u80fd\u529b\u3092\u793a\u3059\u305f\u3081\u3001\u6295\u8cc7\u5bb6\u304c\u4f01\u696d\u306e\u6210\u9577\u4f59\u5730\u3084\u30ea\u30bf\u30fc\u30f3\u3092\u5224\u65ad\u3059\u308b\u4e0a\u3067\u91cd\u8981\u306a\u6307\u6a19\u3068\u306a\u308a\u307e\u3059\u3002\u4f01\u696d\u306e\u4fa1\u5024\u8a55\u4fa1\u3084M&A\u306e\u969b\u306b\u3082\u6d3b\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ol>\n

          \n

          \u307e\u3068\u3081<\/strong><\/h3>\n

          \u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u3001\u4f01\u696d\u306e\u7d4c\u55b6\u6d3b\u52d5\u306b\u304a\u3051\u308b\u73fe\u91d1\u53ce\u652f\u3092\u6b63\u78ba\u306b\u53cd\u6620\u3057\u3001\u5c06\u6765\u306e\u6210\u9577\u3084\u8ca1\u52d9\u5065\u5168\u6027\u3092\u8a55\u4fa1\u3059\u308b\u4e0a\u3067\u91cd\u8981\u3067\u3059\u3002FCF\u304c\u5b89\u5b9a\u3057\u3066\u30d7\u30e9\u30b9\u3067\u3042\u308b\u4f01\u696d\u306f\u3001\u6295\u8cc7\u5bb6\u3084\u91d1\u878d\u6a5f\u95a2\u306b\u3068\u3063\u3066\u9b45\u529b\u7684\u3067\u3042\u308a\u3001\u8cc7\u91d1\u7e70\u308a\u306e\u5b89\u5b9a\u6027\u3082\u9ad8\u3044\u3068\u8a00\u3048\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

          **\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08FCF: Free Cash Flow\uff09**\u306f\u3001\u4f01\u696d\u304c\u5b9f\u969b\u306b\u624b\u5143\u306b\u6b8b\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u306e\u91d1\u984d\u3092\u793a\u3059\u8ca1\u52d9\u6307\u6a19\u3067\u3001\u4f01\u696d\u304c\u4e8b\u696d\u904b\u55b6\u3092\u7dad\u6301\u3057\u306a\u304c\u3089\u81ea\u7531\u306b\u4f7f\u3048\u308b\u8cc7\u91d1\u306e\u91cf\u3092\u8868\u3057\u307e\u3059\u3002\u3053\u308c\u306f\u3001 … <\/p>\n","protected":false},"author":1,"featured_media":3081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1292,1274,14,1364],"tags":[1856,1471,1682,1855,511,949,1632,548,1365,303],"_links":{"self":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3304"}],"collection":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3304"}],"version-history":[{"count":1,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3304\/revisions"}],"predecessor-version":[{"id":3305,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3304\/revisions\/3305"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/media\/3081"}],"wp:attachment":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}