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TDF (Templeton Dragon Fund) Free Cash Flow : $0.00 Mil (TTM As of Jun. 2024)


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What is Templeton Dragon Fund Free Cash Flow?

Templeton Dragon Fund's total free cash flow for the months ended in Jun. 2024 was $0.00 Mil. Its total free cash flow for the trailing twelve months (TTM) ended in Jun. 2024 was $0.00 Mil.

Templeton Dragon Fund's Free Cash Flow per Share for the months ended in Jun. 2024 was $0.00. Its free cash flow per share for the trailing twelve months (TTM) ended in Jun. 2024 was $0.00.

Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Free Cash Flow Growth Rate using Free Cash Flow per Share data.


Templeton Dragon Fund Free Cash Flow Historical Data

The historical data trend for Templeton Dragon Fund's Free Cash Flow can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Templeton Dragon Fund Free Cash Flow Chart

Templeton Dragon Fund Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Free Cash Flow
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Templeton Dragon Fund Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
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Templeton Dragon Fund Free Cash Flow Calculation

Free Cash Flow is considered one of the most important parameters to measure a company's earnings power by value investors because it is not subject to estimates of Depreciation, Depletion and Amortization (DDA). However, when we look at the Free Cash Flow, we should look from a long term perspective, because any year's Free Cash Flow can be drastically affected by the spending on Property, Plant, & Equipment (PPE) of the business in that year. Over the long term, Free Cash Flow should give pretty good picture on the real earnings power of the company.

Templeton Dragon Fund's Free Cash Flow for the fiscal year that ended in Dec. 2023 is calculated as

Free Cash Flow (A: Dec. 2023 )=Cash Flow from Operations+Capital Expenditure
=0+0
=0.00

Templeton Dragon Fund's Free Cash Flow for the quarter that ended in Jun. 2024 is calculated as

Free Cash Flow (Q: Jun. 2024 )=Cash Flow from Operations+Capital Expenditure
=0+0
=0.00

Free Cash Flow for the trailing twelve months (TTM) ended in Jun. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was $0.00 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Templeton Dragon Fund  (NYSE:TDF) Free Cash Flow Explanation

Free Cash Flow is very close to Warren Buffett's definition of Owner's Earnings, except that in Warren Buffett's Owner's Earnings, the spending for Property, Plant, and Equipment is only for maintenance (replacement), while in the Free Cash Flow calculation, the cost of new Property, Plant, and Equipment due to business expansion is also deducted. There, Free Cash Flow is more conservative than Owner's Earnings.

In Don Yacktman's calculation of forward rate of return, he uses Free Cash Flow for the calculation. Yacktman explained the forward rate of return concept in detail in his interview with GuruFocus. Yacktman defines forward rate of return as the normalized free cash flow yield plus real growth plus inflation.

This is what Yacktman said in his March 2012 interview - when the S&P 500 was at 1400:

If the business is stable, this calculation is fairly straightforward. For instance, on the S&P 500 we would normalize earnings. We would then calculate what percentage of those earnings are not reinvested in the underlying businesses and are therefore free. Historically, for the S&P 500, this has been just under 50% of earnings. Currently, we expect the S&P to earn about 70 on a normalized basis, a number which is far below reported earnings due to our adjusting for record high profit margins. $70 X ½ / 1400 gives you a normalized free cash flow yield of approximately 2.5%.

The historical real growth rate of the S&P 500 (companies) is about 1.5%. Assuming an inflation rate of 2.5%, the forward rate of return on an investment in the S&P 500 is about 6.5% today (2.5% free cash flow yield plus 1.5% real growth plus 2.5% inflation).

For the growth part of the Forward Rate of Return calculation, GuruFocus uses the 5-year average growth rate of EBITDA per share as the growth rate, and the growth rate is always capped at 20%. For the Free Cash Flow we use per share data averaged over seven years. The reason we use seven years is because research shows that seven years is the length of the typical business cycle.

Therefore, as of Dec23, Templeton Dragon Fund's Forward Rate of Return (Yacktman) % is

Forward Rate of Return (Yacktman) % (Dec23)=Normalized Free Cash Flow/Price+5-Year EBITDA Growth Rate
=0/8.17+0
=0.00 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Be Aware

Free Cash Flow within a report period can be affected by management's decisions of capital spending. Therefore, it is important to look at long term when it comes to Free Cash Flow.


Templeton Dragon Fund Free Cash Flow Related Terms

Thank you for viewing the detailed overview of Templeton Dragon Fund's Free Cash Flow provided by GuruFocus.com. Please click on the following links to see related term pages.


Templeton Dragon Fund Business Description

Traded in Other Exchanges
N/A
Address
300 S.E. 2nd Street, Fort Lauderdale, FL, USA, 33301-1923
Templeton Dragon Fund Inc is a closed-end management investment company. The fund seeks long-term capital appreciation by investing majority of its total assets in equity securities of China companies. It invests in various sectors such as gas & consumable fuels, auto components, banks, beverages, communications equipment, healthcare equipment & supplies, restaurants & leisure, household durables, and many others.
Executives
Christine M. Debevec officer: VP & Assistant Secretary ONE FRANKLIN PARKWAY, SAN MATEO CA 94403
George P. Hoyt officer: VP & Secretary C/O FRANKLIN TEMPLETON, 100 FIRST STAMFORD PLACE, STAMFORD CT 06902
Ted P Becker officer: Chief Compliance Officer 399 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10022
Oliveira Marc De officer: VP & Assistant Secretary C/O LEGG MASON & CO. LLC, ONE FIRST STAMFORD PLACE, STAMFORD CT 06902
Alexander Kymn officer: VP & Assistant Secretary WELLS FARGO BANK, 45 FREMONT STREET, 26TH FLOOR, SAN FRANCISCO CA 94105
Tara E. Gormel officer: VP & Assistant Secretary ONE FRANKLIN PARKWAY, SAN MATEO CA 94403
Harris Goldblat officer: VP & Assistant Secretary ONE FRANKLIN PARKWAY, SAN MATEO CA 94403
Terrence J. Checki director HESS CORPORATION, 1185 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Christopher Kings officer: CFO, CAO and Treasurer ONE FRANKLIN PARKWAY, SAN MATEO CA 94403
Ryan Wheeler officer: Interim CFO, CAO and Treasurer 300 S.E. 2ND STREET, FORT LAUDERDALE FL 33301
Susan Kerr officer: VP - AML Compliance 280 PARK AVENUE, NEW YORK NY 10017
City Of London Investment Group Plc 10 percent owner 77 GRACECHURCH STREET, LONDON X0 EC3V0AS
Manraj S Sekhon officer: President and CEO - IM 7 TEMASEK BOULEVARD, #38-03 SUNTEC TOWER ONE, SINGAPORE U0 038987
Bates Ann Torre director 300 CONTINENTAL DRIVE, NEWARK DE 19713
Matthew T. Hinkle officer: CEO - Finance & Admin 3344 QUALITY DRIVE, RANCHO CORDOVA CA 95670-7313

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