Free Cash Flow or FCF is a commonly used term for any business. FCF is also an important factor for many of the stocks which compounded massively in the past. Free Cash Flow is very important for a business because it indicates several prospects for the company. So, let’s discuss what are FCF, how is related to earnings growth, with examples in this article as we move ahead.
What is Free Cash Flow?
- Free Cash Flows are operating cash flows of the company after adding back after-tax interest from which capital expenditures are subtracted.
- The value of the company is the net present value of all the future free cash flows that the company earns. A high quantum and growth of these free cash flows on a sustained basis makes the company a cash-generating machine that churns out cash every year. This is a very desirable quality in a company from the investor’s point of view.
What is Earnings Growth:
- Earnings growth is determined by the pricing power that the company commands. In addition, factors like operating efficiencies also help in increasing the earnings growth of the company.
- Over time, once a company manages to create a moat in a segment, the revenues and earnings might begin to stagnate. Companies need to understand when they can deploy their cash earned (pivot) from a business of its moat into other verticals to keep growing the top line and bottom.
Free Cash Flow and Earnings Growth:
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)
- From the above picture, the firm with high FCF and high Earnings growth is proven to be efficient compounders, while a firm with low FCF and Low Earnings growth is considered to be a laggard.
- A company which is having high FCF but low earnings growth falls under the category of declining stars means with low growth prospects. Companies that have low FCF and high earnings growth potential.
Example of Efficient Compounder: Asian Paints:
![](data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAA9AAAAIqCAMAAAD7DlIRAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAFHUExURQAAAEBAQEBAQGBgYE1NTUlJSWBgYFFRUVVVVVVVVVJSUlhYWFhYWFVVVVVVVVNTU1lZWVlZWVdXV1dXV1paWlVVVVVVVVhYWFdXV1VVVVZWVlhYWFlZWVlZWVZWVllZWVdXV1dXV1ZWVlZWVllZWVhYWFdXV1paWlhYWFhYWFhYWFhYWFhYWFlZWVlZWVlZWVhYWFhYWFlZWVhYWFpaWllZWVhYWFlZWVhYWAAAAFlZWVdXV1lZWVlZWVlZWVdXV1hYWFpaWllZWVhYWFhYWFlZWQAAAFpaWlhYWFhYWFhYWFlZWVhYWFlZWVlZWVhYWFlZWVlZWVlZWVhYWFlZWVlZWVhYWAAAAFpaWllZWVhYWFlZWVlZWVlZWQAAAFlZWVhYWFhYWFlZWVlZWVlZWVlZWVlZWVhYWAAAAFlZWVub1dnZ2e19MfZqa9IAAABodFJOUwAECAgKDhATFRgZHSAhJCgoKywvMDM2Nzg8PkBCRUdISUxNUFBUWFhdYGJoa21wc3R3eICAgYOEhoeHjI2PkJKUl5iZnZ6fn6Klpqerr7Kzt7i7v7/AxcfHzM3P0tff3+Hn5+7v9Pf5REujJAAAAAlwSFlzAAAXEQAAFxEByibzPwAATOlJREFUeF7t3f1/G/eV5XlS1ro7kZmHTqY3HHmVTNuJbWnaaTvaXa0jr9sjZ521W247pjR+kNYa0zGnJvP//7zfuucDoOoQEC7JIiWW7/uVWCgc8FSxgMsqgA/Y+b/+eyllJv6fHS6UUmagDfROKWUWaqBLmZEa6FJmpAa6lBmpgS5lRmqgS5mRGuhSZqQGupQZqYEuZUZqoEuZkRroUmakBrqUGamBLmVGaqBLmZEa6FJmpAa6lBmpgS5lRmqgS5mRGuhSZqQGupQZqYEuZUZqoEuZkRroUmakBrqUGZn5QN86uM2leXnt3YNPb3H5Yrx9+9dcmtzFfzIzdgkG+sXrP+JS86tfciHnoPuGS8+J67df5dIZvPBp13uJxY1+dP361ttkdd2HXHqKl66/wKW8DZ/M5qpJduHQ5IXP0iUY6Pe7bvn1+37X/YqLKc/dQH/bdS9y8fRe67qvb79zMPw6F0MRFvvq1U/burru8ZsxGGtucDI+0IvCL95ZjeI7bTm+4MaaV96JdIPjn0xvWXXciXfhuk0dmuQ+eV5cgoH+Zdd9y1frdvFrXUp67gb6uykePJ9239vj/zaP2ebtuOKFD1lsI93f9tgNTsoHelX4/fL49k1bere/8L2Shbhuk+OfTG9ZddyJd+G6TR3aWPjC27dPdkL4HLgEA90flt9cXjrZ2dE8T7m/6b7g0kJ7zL55XeKx+aPHXffN7esvXn/t6657Y80NTmzNQPeFb3zR5uS6rrreJkZfe38ZK2rn0q/FhTUDu3L8k2lWVcedeBeu2dSRjYUvdd2lewnmMgx0Oy4/Xlw42QH6+RvoSRx/Ptses6OH6sdtTzFGr37bP1z9Bie2ZqBV2E4FuFM+7L5tZ8qr185akngKf/yTabzqTNZsak4N9DlZHJjbHXLCL86zHOj2ONsy0INnKTi/ge7PWH/W//vCd907P+u6j+PKXmqg13wya6rO5PimJtVAnxOOzD/6fvEF9te3Dw4+fHNxJvfiGx8eHBy8u/h6/sbBr3d+9vFB++9ioF97//3Fw/tXt2+vHum3Pm139Bv3Dz59m7t5+KFttbfbxduvxeXe9bbWg3duN/2ax7f1TXrz/sHB+0TDhdduL1+TGtf3dTuvvn9w//aaU+LhTa/ffrftDjZiweZ19SRlYcNAr9l1thEv3vrw4ONbLzxloNuZdXz8a/0Llo+775f7d8NAb/1k1lSt3YXbN16Obap94KLQCn7db9tB27Y4iIzu0efYpRhoDtFt/2rfthPK3nfavbfa193AF/SD7sNf9ld9Gpf7gW5nb4sxOhg8StrC7Zf6J1btCZuqhh+6fFnpCz3YXmgbsdBvxvC2vkm/ZpPi9afRwvKUwetbHdvyjb8QM77pYiGeGi+M5/XFYwfoDQO9ZtfZRvysf3WqzVw7Xm4a6LZBcbfc758YvT3YrhYcH+jEJ3O8au0u3L7x8E09/oEqtILlth20hdEWPM8ux0C3Q/TBzgscoF943HXvv/HqO20Xx/i0R++7b756+9vFUemg+/Tb7puDb+7H5f6+ao9GXnj50eg87qC73255+52v20THd8MGH9qv5fH7t99t2Xcxcu+32X31+jvfd9/qeDJcjW3Sj77tvn3j+vV3v3vfF9igNfUH3cE33fcfvtMGyJ7n2U1fPWgPum/bEWY4LON5bbtr8FmG9QN9fNfZRrzUPqOv3/n4+679u2mgD7qu/wza+VM7P21nqf3jP6wb6Mwnc6xq/S7cuvELvqnHP3Ax0KOCN/pt+6ZtWzsYjLfgeXY5Bro/RP/yTY4E7f6Jf1/6Vnfcp/o63h4Fi/ul6+5zgOK+aveMHjGtQ8fQ0N/yw/6W7RDez+XwQ9tVH8eldl7QT0d7eMWQtLPBxdF8tRrbpDd4BL3Yr3S0sNigY/XLbXmxXYiupWM3XfO0czyvbRv9W7/jGyys23WjjWir7L95FD/8sWGgf9amvf/3lp6ftl0dX6CadQOd+WSOVa3fhVs3fsE39fgHbiho28Zz6PEWPM8uyUC3Y86H32h+2/0QwxfTOXyQtsdPPFTa3fFFXIjLcV+1R4jumS9G56LtljyY2vO1/rGz+tC2lsWX+fa4amdgry5+0OG7Tl+lB6vxTWqPoNXTuNHCYoOO1a+2pa1o9A3Y4zddP9Bft2NJ02/c8LwX4xu4wa4bbURbt76/0E/0eJ2LKflZO9bGge4LbWbbA4vT0jUDnfpkjlWt3YVLmzZ+6dimYvWBy4EeF6wGerwFz7NLMtD9IZovm8tDZD/ly1eYmrbT+Qr+/fKlTO6rF3lgtnto+Hg+6L7lUvvYvnz1oe1L8qK7fTVoD4M2JHp0fqNnzcPV+Ca1ZR4IzWhhsUHH6lfb0p4Ax6Fr4fhN1w/0QtvK9uxg+JWuN76BW+268Ua0Rzbb/sKagf7w9u3bn37PiXF7WhPT157ULEZ2zUCnPpljVWt34dKmjV/yTV1YfeBioK1gNdDjLXieXZaBbpPCvdsmSz+ucL3t5dVX4peuLx4/wzt8cflj/cho+9jhT46ubnldD7TVFe3UcDGubdVtNe2xHUPSnslrpYPV+Ca1Z1zd/cWKRguLjzpWP6izh93xm64faA7A/SOxfcjmI/TosR7W7TptxOAcaM1Ay/f6tsFiOloHpzLrBjr7yYyr1u5CbN74Jd9UOf6BxwpWAz3egufZZRno/jsOemLUDj8rcbz90dt6KfbYHbu6/Gs9er7gDBKrW7aB7u+61RXtK8DiHKt9vW4n1O1k8aB/OLRHgb7jMljNsU263u7/7vEbeviMFvioY/WDOns4Hr/p+hkYHJOXzzBWxjdY2rjrtBHtE9NorR3o/ivE+4tvOH2z2Op2EOYJ/JqBTn0yx6vW7cKtG7/km7rpA48VrAZ6vAXPs0sz0MtHR7vwRRxqmvv9l/tf9z853BbanWR37ODyt/3pVDuXGz3QV7c8NtDt68fizmtnm/1Rra33m3fffayHYTNYzbFN2nmxfw21+0JbPFzgo47Xr+rs4Xj8plsHun35evoNFjbvOm3EYCTXDPSwsO3AFc5cBx+9kPlk1lWt2YVbN37JP/dNH3isYDDQ43v0OXb5BrqdtY326i+/776JZ7DtfrM7dnC5fdT15S0WVrdsJ9T9SerqisGxqX0ZaMeJl77r+nu0HYE5xAxW45sU3miPl+WLc8sFPupY/aDOHo7Hb7p1oNvtUt+Hfsqu00a8uzx93jbQo5MUXlFYM9CZT2ZdVeO7cOvGL9mmbvzAYwXDgW5G9+jz6vINdDufHD002xNY3enH79jB5fbw+XDnsf0ewOqWlKyuaM8eFw+l9ry4nWS/2z7217dvv7F4CjhcjW+SvLB6Nrla4KOO1Q/q7OF4/KZbB/oFezm3sQe1PGXXaSPaDRZPxp8+0C98132tVxGuX2+JbrpmoBOfzNqqnu3CrRu/NN7UzR94rKBtm075MbpHn1OXb6DbGVn/dHjp/uJp2fE7dnj5i+67X65eYpV2//B4XX7banHzdtbKqXVbQZ99yovbS4PV+CahHfb1dLvHAh91rH5QZw/H4zfdOtD9yr5dztJL/dcgu4E8ZddpI9q6+azbFDxtoNsKlz9D9cL3/DTemoFOfDJrq8J4F27d+CX73Dd+4LGCH622VtiC59nlG+idr/mxrqZ/RLQztJjK698du2OHl9tRtE0tp8toA62PbQ/XePF38KFtLRr29oH9tLb1f/xGf9SIK5vhamyTXtWDsLW2DRotLD/K6wd19nA8ftPtA90/V+WnUF+8/X0/H36D8JRdx0a0k8yoaUfWpw50GxLuneZjHvZrBjrxyaypWrsLt2/8gn3uGz/weMH3i+fw4y14nl3CgW4H2u6d6z/62fW3H3dtsZ26Pf7Zzq/e6V/psDt2ePnFPh9/vW1pc/DGq/2ztjiVGnxo+2Lcvfva9dfaeuNnM19qp7HytV5tH67GNumbb9+5/sIv39Q3v0cLy4/y+kGdD/SxmyYGOn4E++uPb9++3z7t/uG7dqCfsuvYiDbI371z/df3u+++fdpAt507eDKzOK6vG+itn8y6qrW7cPvGL9jnvvEDjxd80d+tb7QviOMteJ5dwoHeeaN9aZX4+tm+pMfldkfZHTu63L7Y+/lSS9/QB393fEiXa/kinja/8HH33cHBweP+mjhxH97WNqk9DsJ3/faMFlYfZfWDOh/oYzdNDPTyt0W67vt4Grh2oJ+y6xYb8Y5u8fhnB08b6Ha4XZ4mt131rX5mc91Ab/1k1lWt34XbNx7+uW/6wOMF/ZefuDzegufZpRnoWwcHy/PlF985aHf0d/dv6Zo328Hzi3defPFAf5jq3cHPTgwut6Pod6vnY6G/B3/V7t6v39eDa/ShOy+9f9C+In+qv8nVHp3fx0H8xVf52eXRbceb9OLt/gHwhX4Lb7Qw+Khx/SD49GD0SkxjN22fqL3ktfPqwQGfwtJr77QP+v7gbT0E19ygt3HXLTfijY+/7b5798Wddw4Gc9aMCt/k4/H2wUG/r4Z32cqWT2Zd1YZduH3j5djnvuED1xT8up3EfdO+fo+34Hl2aQb6zH41/rHP3upL8lY/W71u3E7Qhw+5Up4jP5yBbieAftJ5goFup2eL77e0IjvSl/K8+MEM9IuLX5YbOMFAtxN2/drfzvXRqzalPFd+MAP9pv2QQO8EA73TnnZ9827/OzuX4ZWR8oP1gxnoNpDHXhU6yUC/2CZZ9NPapTyPfjAD/fZt/UDD0Bu3/dXip3np7dsffnz7tRrn8hz7wQx0KT8ENdClzEgNdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTNSA13KjNRAlzIjNdClzEgNdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTMy2UDfXL778rXPuq578PNjl8cLsi0vpZzEVAO9d7gY6P3D7uhh1x39o10eL8i2vJRyIlMN9N2jf9FAX3nSvb6zs3u3++rq6PJ4QbblpZSTmWig97v77X/9pZvLuf7d6PJ4QbblpZSTmWagrzz5699roHc/YR7vdn8YXh4F8e/4tuvyUsoJTTPQN9swaqCvPOE5cDvgDi+Pgvh3fNt1eSnlhCYZ6L3D9rx3MdB//fu4br/76u8Gl68OA54kj65ak5dSTmiKgd79pD+4aqD3Dldz+Q+Dy1eHAQM7umpN7v5WSllgKswUA70fz3proEu5QEyFmWCgOVk+dsrdnkOvLo+C+Hd823V5KeWEJhjo/e7oYXPYdQ//0p4Kr17bqhfFSrlgkwz00ldX69tWpTxDEww0OFW+q3/igDu8PF6QbXkp5WQmH+i9Q36Csy0NL48Xrnx+1I7Hm/NSymlMPtDtOXD8jkW8xDW8PFpo09ufWG/MSymnMf1A79z4sk3mB/rW0/DycEFH6M15KeU0phvoUsozVwNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTNSA13KjNRAlzIjNdClzEgNdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTMyyUD/+M6XXff493H5yhO9iYb+XP61z9rFBz+PZLwg2/JSyklMMdB7/dtatf/Hn/FtA92/09XDGMz9w/hT2xru0YJsy0spJzLFQO8/+kX7702N4pUnq3eDbcOtN8PorxotyLa8lHIyUwy0tIHs/3b+cKB5I0klowXZlpdSTma6gebtIwcDXe8+WcoFm/II7afcyzeS7A++owXZlpdSTmiygV68bWQbzHv37v22H+orT3jjuf32vHi0EBe25qWUE5pkoHf/eO9Phx1vQ8e3rdrS3uFgRkcLcWFrXko5oUkGuv++Vdc9eiUWdts47t44bMfrqQf6b6WUBabCTDLQvR/f6YavZu13f/37wVl0/xx5sCDbcscnUko594HuX81iJHv9a1zbXvTalpdSTmjCgd47ZCR7/XzWt61Kcf9jLcKzm3Cg+7NsLrKweuG7TfpoQbblpcwOE2wIz26Kgb7zwUvtv9eexETeeat/Sevlw/44u3fIT3P2wWjhyudH7Xi8OS9lpphgQ3h2Uwz03a476n8541F/gG4Ljx92XXe/n+ubfdJx5B4utOntT6w35qXMFBNsCM9uioHefbn/vcfHcWje2b31ZVt4oG9h7dxoC0f6BvVoQUfozXkpM8UEG8Kzm2KgSylZTLAhPLsa6FIuEhNsCM+uBrqUi8QEG8Kzq4Eu5SIxwYbw7GqgS7lITLAhPLsa6FIuEhNsCM+uBrqUi8QEG8Kzq4Eu5SIxwYbw7GqgS7lITLAhPLsa6FIuEhNsCM+uBrqUi8QEG8Kzq4Eu5SIxwYbw7GqgS7lITLAhPLsa6FIuEhNsCM+uBrqUi8QEG8Kzq4Eu5SIxwYbw7GqgS7lITLAhPLsa6FIuEhNsIvqfa0WUVgNdykVigk1ETLCJKK0GupSLxASbiJhgE1FaDXQpF4kJNhExwSaitBroUi4SE2wiYoJNRGmTDPSP73zZdY9/z9K1/o/6Pvj5scvjBdmWlzIzTLCJiAk2EaVNMdB7h13X/6F9veXF/mH8vfx4Q5vh5fGCbMtLmRsm2ETEBJuI0qYY6P1Hv2j/valRvPKEd7T56uro8nhBtuWlzA4TbCJigk1EaVMMtLSB7N8Mg3eDjaXh5fGCbMtLmR0m2ETEBJuI0qYbaL0f7PBdYbe9Xey2vJT5YYJNREywiShtyiN0f8q9fDfYdsAdXh4F8e/4tuvyUuaHCTYRMcEmorTJBro9+e0H8coT3j1yv/vq7waXrw4DniSPrlqTlzI/TLCJiAk2EaVNMtC7f7z3p8Mu3jdy73A1l/8wuHx1GDCwo6vW5KXMDxNsImKCTURpkwx0/32rrnvUv4XseQ7030q59JhgExETbCJag6kwkwx078d3uv7VrMGZc3sOvbo8CuLf8W3X5Y5PpJRLjAk2ETHBJqI1mAoz2UD3r2a1kawXxUp5GibYRMQEm4jSJhzovcM2kvVtq1Kehgk2ETHBJqK0CQd6vz9Ct3mMA2wccIeXxwuyLS9ldphgExETbCJKm2Kg73zwUvvvtScxkXuH/ARnWxheHi9c+fyoHY8356XMFBNsImKCTURpUwz03a476n8541G8qnWzX+riaD26PFpo09ufWG/MS5kpJthExASbiNKmGOjdl/vfe3z8Ft9tuvFlm8z4pvT48nBBR+jNeSkzxQSbiJhgE1HaFANdSsligk1ETLCJKK0GupSLxASbiJhgE1FaDXQpF4kJNhExwSaitBroUi4SE2wiYoJNRGk10KVcJCbYRMQEm4jSaqBLuUhMsImICTYRpdVAl3KRmGATERNsIkqrgS7lIjHBJiIm2ESUVgNdykVigk1ETLCJKK0GupSLxASbiJhgE1FafqB3+9/A2Nl97+Gf670tSjktJthExASbiNLSA737Sf9bE1eedF29t0WZLebLEE6CShMRE2wiSksP9JUn/a813uy++sXr9QuOZa6YL0M4CSpNREywiSjtZAO9+0n8KYL6DccyU8yXIZwElSYiJthElHaygdYf8KuBLnPFfBllDJhRlkeliYhGE1FaeqB37h698lO979Td+sPZZaaYL6OMATPK8qg0EdFoIkrLD/Re/8e3+wP03mE9hy4zxXwZZQyYUZZHpYmIRhNRWn6gd66997D/oyS7n+hPDZUyP8yXUcaAGWV5VJqIaDQRpZ1goEuZPebLKGPAjLI8Kk1ENJqI0k400Ls/qSfPZdaYL6OMATPK8qg0EdFoIko7wUBf+1x/kvPmX+qUu8wU82WUMWBGWR6VJiIaTURp+YHeO+yOYqD3DuutLcpMMV9GGQNmlOVRaSKi0USUlh/ou93r+g707if+basf3/qy6x7/Pi7HD4cufz70Wv8Hfh/ww9+jBdmWl3KhmC+jjAEzyvKoNBHRaCJKSw90/GCJfqTEf7CkP3b3f2g/vpvVBvphLwZzv08Wwz1akG15KReL+TLKGDCjLI9KExGNJqK0KQZ6/9Ev2n9vdvFTJ1eerI7fbbj17jb9VaMF2ZaXcsGYL6OMATPK8qg0EdFoIko7xUDr966OaQPZP7ceDjTvDNuSNuqjBdmWl3LBmC+jjAEzyvKoNBHRaCJKSw/0zt12LhwDveEd2Xc/8YGut5Mtlw3zZZQxYEZZHpUmIhpNRGn5gd47PHrrv/z1F//0nk6tjzk+0Mt3hu0PvqMF2ZaXctGYL6OMATPK8qg0EdFoIkrLD3T/opWsP4LG+73HlN67d++3/VBfecK5+X57XjxaiAtb81IuGvNllDFgRlkelSYiGk1EaScY6J3dW589fPjwrfhTRMfxxs7tOXD44Gob8cGMjhbiwtbc/a2Uc8Z8GWUMmFGWR6WJiEYT0RpMhTnJQD/V/uKNnXfbOO7eOGzjXQNdLhvmyyhjwIyyPCpNRDSaiNZgKkx+oPVHAjfZOxw/s+7ne3AW3T9HHizItryUi8Z8GWUMmFGWR6WJiEYTUVp6oDd8swptnsfPrPvXuLa96LUtL+WiMV9GGQNmlOVRaSKi0USUlh7o4feXj2lPnO2Vsn4+69tW5bJhvowyBswoy6PSRESjiSgtPdDxfegNjs9znHKvXifrP3S0INvyUi4Y82WUMWBGWR6VJiIaTURp+YG+8vnR61w07eD6ARd3du70f9Vk5+U4BW8n4vppzn5URwutrB2PN+elPBPMl1HGgBlleVSaiGg0EaWlB3r3f/9T1z2O37t4aL8QfXMRPIgDbVvouu5+P9ct6X/fQs++hws8596Yl/JMMF9GGQNmlOVRaSKi0USUlh7oxfeXezZzbRKlP1ne7X+VsnvwiqIbbeHoA558DxZ0hN6cl/JMMF9GGQNmlOVRaSKi0USUlh7onR//ZOmp38Aq5fJivowyBswoy6PSRESjiSgtP9ClzB/zZZQxYEZZHpUmIhpNRGk10KWsMF9GGQNmlOVRaSKi0USUdpKBfvnz/oly/Y2gMl/Ml1HGgBlleVSaiGg0EaWdYKDv9OPcqx/8KHPFfBllDJhRlkeliYhGE1FafqD3u6P+F61+fMt+aruU+WC+jDIGzCjLo9JERKOJKC090MsfzazfnijzxXwZZQyYUZZHpYmIRhNRWnqgVz/L/fRf0yjlEmO+jDIGzCjLo9JERKOJKK0GupQV5ssoY8CMsjwqTUQ0mojS0gO9GuPlby6XMjfMl1HGgBlleVSaiGg0EaWlB3pn+WuN9QvLZbaYL6OMATPK8qg0EdFoIkrLD/TeYffglZ/85OXPNvzVz1IuP+bLKGPAjLI8Kk1ENJqI0vIDve2vfpZy+TFfRhkDZpTlUWkiotFElHaCgd7ZvfXwy6OHf66fFCuzxXwZZQyYUZZHpYmIRhNR2kkGupS5Y76MMgbMKMuj0kREo4koLT/QT/+rn6XMAfNllDFgRlkelSYiGk1EaemBru8+lx8A5ssoY8CMsjwqTUQ0mojS0gP91L/6Wco8MF9GGQNmlOVRaSKi0USUlh7op/3Vz1KeOR7+hjCN+TLKqDTK8qg0EdFoIkrLD/Tmv/pZyrPHw98QpjFfRhmVRlkelSYiGk1EaemBfspf/Szl2ePhbwjTmC+jjEqjLI9KExGNJqK09EA/5a9+lvLs8fA3hGnMl1FGpVGWR6WJiEYTUVp6oJ/2Vz9/3P/p3se/Z+naZ23m+UNFw8vjBdmWl5LEw98QpjFfRhmVRlkelSYiGk1EafmB3mzvsDt6eNjxOxv7/ZL+Rvfo8nhBtuWlZPHwN4RpzJdRRqVRlkeliYhGE1FacqB3/7g4/u7c+lc/4d5/9Iv235v6pY12aq53tPnq6ujyeEG25aWk8fA3hGnMl1FGpVGWR6WJiEYTUVpuoFd/f6g/Hq+fuDaQenebOFC3pd+NLo8XZFteShoPf0OYxnwZZVQaZXlUmohoNBGl5Qb65vA3rEYLK23o2/XDd4UdXh4F8e/4tuvyMh88OA3hJKg0hGnMl1FGpVGWR6WJiEYTUVpqoMc/9rnhZ8baRLZJXL4bbDvgDi+Pgvh3fNt1eZkPHpyGcBJUGsI05ssoo9Ioy6PSRESjiSgtNdDjEd7wU917h/1ELv8+0X731d8NLl8dBpSNrlqTl/ngwWkIJ0GlIUxjvowyKo2yPCpNRDSaiNKmG+jFuzyv5vIfBpevDgPKRletyd3fyqXFg9MQToJKQ5jGfBllVBpleVSaiGg0Ea3BVJjUQO9+wulwWH/Kvb944+fVXNZAlwUenIZwElQawjTmyyij0ijLo9JERKOJaA2mwqQGevy8Vodis8f7aQzOnNtz6NXlURD/jm+7Li/zwYPTEE6CSkOYxnwZZVQaZXlUmohoNBGl5Qb6ypNu8ZeHdu+s+9GPNs96bbpeFCvr8OA0hJOg0hCmMV9GGZVGWR6VJiIaTURpuYHuB7Z7/K+//c0f+5/OPP5tpTbwXDn87tO2b0tty8tF4aFjCCdBpSGcBJWGMI35MsqoNMryqDQR0WgiSksO9M61eCvZ3ppfolzNcz+PcYCNA+7w8nhBtuXlgvDQMYSToNIQToJKQ5jGfBllVBpleVSaiGg0EaVlB7qN9L989vDhw399hcWBdnD9gItxLNdPcLbxHF4eL1z5/Kgdjzfn5ULx0DGEk6DSEE6CSkOYxnwZZVQaZXlUmohoNBGl5Qd6s5uLX5R+0B9b21L/OxbxEtfw8mihTW9/TN+YlwvFQ8cQToJKQzgJKg1hGvNllFFplOVRaSKi0USUNtFAi06Wb3zZLn2gbz0NLw8XdITenJcLxUPHEE6CSkM4CSoNYRrzZZRRaZTlUWkiotFElDbFQJfLjoeOIZwElYZwElQawjTmyyij0ijLo9JERKOJKK0GutRArzBfRhmVRlkelSYiGk1EaTXQpQZ6hfkyyqg0yvKoNBHRaCJKq4EuNdArzJdRRqVRlkeliYhGE1FaDXSpgV5hvowyKo2yPCpNRDSaiNJqoEsN9ArzZZRRaZTlUWkiotFElHaigf7Jb+R/Y7nMBA8dQzgJKg3hJKg0hGnMl1FGpVGWR6WJiEYTUdoJBnr57eb62Y+54aFjCCdBpSGcBJWGMI35MsqoNMryqDQR0WgiSssPdP+DXA/uhf+7fvhjXnjoGMJJUGkIJ0GlIUxjvowyKo2yPCpNRDSaiNLSA737Sf+j1mWWeOgYwklQaQgnQaUhTGO+jDIqjbI8Kk1ENJqI0tIDXW8n+8xwxxrCSVBpCCdBpSGcBJWGMI35MsqoNMryqDQR0WgiSjvBEboG+hnhjjWEk6DSEE6CSkM4CSoNYRrzZZRRaZTlUWkiotFElJYe6PYcWn+AoFw07lhDOAkqDeEkqDSEk6DSEKYxX0YZlUZZHpUmIhpNRGn5gR7/pcBycbhjDeEkqDSEk6DSEE6CSkOYxnwZZVQaZXlUmohoNBGlpQc63h86fuu53h/6gnHHGsJJUGkIJ0GlIZwElYYwjfkyyqg0yvKoNBHRaCJKSw/0lXp/6GeFO9YQToJKQzgJKg3hJKg0hGnMl1FGpVGWR6WJiEYTUVp6oJ/2/tDlXHHHGsJJUGkIJ0GlIZwElYYwjfkyyqg0yvKoNBHRaCJKyw90eVa4Yw3hJKg0hJOg0hBOgkpDmMZ8GWVUGmV5VJqIaDQRpdVAP/+4Yw3hJKg0hJOg0hBOgkpDmMZ8GWVUGmV5VJqIaDQRpdVAP/+4Yw3hJKg0hJOg0hBOgkpDmMZ8GWVUGmV5VJqIaDQRpaUGun/fqiv/xkvcTb3KfaG4Yw3hJKg0hJOg0hBOgkpDmMZ8GWVUGmV5VJqIaDQRpeUH+umvct9YvNfc4nb6pvW1/p02HvAuOqMF2ZaXhjvWEE6CSkM4CSoN4SSoNIRpzJdRRqVRlkeliYhGE1FaaqB3/+Mv2n94ibs59ir37nvLKW8DHUfxGMz9w/hT2xru0YJsy0uPO9YQToJKQzgJKg3hJKg0hGnMl1FGpVGWR6WJiEYTUVpqoLfZO+z+bXWEXv3MdxtuvRlGf9VoQbblJXDHGsJJUGkIJ0GlIZwElYYwjfkyyqg0yvKoNBHRaCJKm2Kgdz85en35brDDgeaNJNuo/s4WZFteAnesIZwElYZwElQawklQaQjTmC+jjEqjLI9KExGNJqK0SY7Qv7na5vD4QG97d8lteRHuWEM4CSoN4SSoNISToNIQpjFfRhmVRlkelSYiGk1EaZMMdLNuoJdvJNkffEcLsi0vwh1rCCdBpSGcBJWGcBJUGsI05ssoo9Ioy6PSRESjiSjtHAb66N69e7/th3p53X57XjxaiAtb8yLcsYZwElQawklQaQgnQaUhTGO+jDIqjbI8Kk1ENJqI0s5hoLvwwdWdvcULZf2Mjhbiwta8CHesIZwElYZwElQawklQaQjTmC+jjEqjLI9KExGNJqK0yQd6Z7eN4+6Nw3biPPVA/+0HijvWEE6CSkM4CSoN4SSoNIRpzJdRRqVRlkeliYhGE9EaTIXJD/RufPd5972Hf173ox+rgRb9LMpyRvvnyIMF2ZY7PpEfHO5YQzgJKg3hJKg0hJOg0hCmMV9GGZVGWR6VJiIaTURrMBUmPdC7n/QDFyfU6370wwe6f41r24te2/Ii3LGGcBJUGsJJUGkIJ0GlIUxjvowyKo2yPCpNRDSaiNLSA33lST9nN7uvfvH6uolbN9D1batpcMcawklQaQgnQaUhnASVhjCN+TLKqDTK8qg0EdFoIko72UDr74rdHc9u8IHuT7nbbMbo6+A7WpBteQncsYZwElQawklQaQgnQaUhTGO+jDIqjbI8Kk1ENJqI0k420Hp++9SBvvNW/5LWy4f9cXbvkJ/m7D9qtHDl86N2PN6clwHuWEM4CSoN4SSoNISToNIQpjFfRhmVRlkelSYiGk1EaemB3rl79MpP9WOZd/1l6DsPH37ZdY8fPowDbbvQnmjf72/Tv31OW9CsDxfa9PYn1hvzMsAdawgnQaUhnASVhnASVBrCNObLKKPSKMuj0kREo4koLT/QbQbbmMYFO4a2p79o4757q8129+AVRTfawtEHzP9gQUfozfklwm43hGncr0YZlUbZNKg0hJOg0hBOgkpDmMaON8qoNMryqDQR0WgiSssP9M619x72p9O7nzyqY+gAu90QpnG/GmVUGmXToNIQToJKQzgJKg1hGjveKKPSKMuj0kREo4ko7QQDXdZitxvCNO5Xo4xKo2waVBrCSVBpCCdBpSFMY8cbZVQaZXlUmohoNBGl1UCfFbvdEKZxvxplVBpl06DSEE6CSkM4CSoNYRo73iij0ijLo9JERKOJKO00A/3T/+OyPc89T+x2Q5jG/WqUUWmUTYNKQzgJKg3hJKg0hGnseKOMSqMsj0oTEY0morTsQL987158P2pn99ZhvRA9xG43hGncr0YZlUbZNKg0hJOg0hBOgkpDmMaON8qoNMryqDQR0WgiSssNtF7HPvrHnWvv9Rcu3SvR54ndbgjTuF+NMiqNsmlQaQgnQaUhnASVhjCNHW+UUWmU5VFpIqLRRJSWG+ibXffRvc+7r24cdt2jV2qch9jthjCN+9Uoo9IomwaVhnASVBrCSVBpCNPY8UYZlUZZHpUmIhpNRGmpgebnrO+2g/PaX7X6QWO3G8I07lejjEqjbBpUGsJJUGkIJ0GlIUxjxxtlVBpleVSaiGg0EaWlBpo/K8SPd5URdrshTON+NcqoNMqmQaUhnASVhnASVBrCNHa8UUalUZZHpYmIRhNR2kkGevgHPcsCu90QpnG/GmVUGmXToNIQToJKQzgJKg1hGjveKKPSKMuj0kREo4korQb6rNjthjCN+9Uoo9IomwaVhnASVBrCSVBpCNPY8UYZlUZZHpUmIhpNRGnZgf7FT37yk5/qn0v1/tDsFEM4CSoNYRr3q1FGpVE2DSoN4SSoNISToNIQprHjjTIqjbI8Kk1ENJqI0pID3X+zauUSfR+anWIIJ0GlIUzjfjXKqDTKpkGlIZwElYZwElQawjR2vFFGpVGWR6WJiEYTUVpqoFe/TiU10ANUGsI07lejjEqjbBpUGsJJUGkIJ0GlIUxjxxtlVBpleVSaiGg0EaWlBvoSY6cYwklQaQjTuF+NMiqNsmlQaQgnQaUhnASVhjCNHW+UUWmU5VFpIqLRRJRWA31WVBrCNO5Xo4xKo2waVBrCSVBpCNPYLUYZlUZZHpVGGZVGWR6VJiIaTURpNdBnRaUhTON+NcqoNMqmQaUhnASVhjCN3WKUUWmU5VFplFFplOVRaSKi0USUVgN9VlQawjTuV6OMSqNsGlQawklQaQjT2C1GGZVGWR6VRhmVRlkelSYiGk1EaTXQZ0WlIUzjfjXKqDTKpkGlIZwElYYwjd1ilFFplOVRaZRRaZTlUWkiotFElFYDfVZUGsI07lejjEqjbBpUGsJJUGkI09gtRhmVRlkelUYZlUZZHpUmIhpNRGk10GdFpSFM4341yqg0yqZBpSGcBJWGMI3dYpRRaZTlUWmUUWmU5VFpIqLRRJRWA31WVBrCNO5Xo4xKo2waVBrCSVBpCNPYLUYZlUZZHpVGGZVGWR6VJiIaTURpUw30jcWbR+7sXPus67oH+jXL4eXxgmzLz4ydYggnQaUhTON+NcqoNMqmQaUhnASVhjCN3WKUUWmU5VFplFFplOVRaSKi0USUNs1A7763+vGx/cP4e/nxhjbDy+MF2ZbnsE+MMnaKUTYNKg1hGhttlFFplE2DSkM4CSoNYRq7xSij0ijLo9Ioo9Ioy6PSRESjiShtkoHeO+z+bXGEvvKEd7T56uro8nhBtuVJ7BOjjJ1ilE2DSkOYxkYbZVQaZdOg0hBOgkpDmMZuMcqoNMryqDTKqDTK8qg0EdFoIkqbYqB3Pzl6ffneVrwbbBvP340ujxdkW57EPjHK2ClG2TSoNIRpbLRRRqVRNg0qDeEkqDSEaewWo4xKoyyPSqOMSqMsj0oTEY0morRJjtC/6Q/GGujhu8IOL4+C+Hd823V5FvvEKGOnGGXToNIQprHRRhmVRtk0qDSEk6DSEKaxW4wyKo2yPCqNMiqNsjwqTUQ0mojSJhnoZjHQy3eDbQfc4eVREP+Ob7suz2KfGGXsFKNsGlQawjQ22iij0iibBpWGcBJUGsI0dotRRqVRlkelUUalUZZHpYmIRhNR2vQDzan3fvfV3w0uXx0GPEkeXbUmz2KfGGXsFKNsGlQawjQ22iij0iibBpWGcBJUGsI0dotRRqVRlkelUUalUZZHpYmIRhNR2tQDvbd4cazN5T8MLl8dBgzs6Ko1eRb7xChjpxhl06DSEKax0UYZlUZZHpVGGZVG2TSoNIRpbLRRRqVRlkelUUalUZZHpYmIRhNR2mUa6L9twD4xytgpRtk0qDSEaWy0UUalUZZHpVFGpVE2DSoNYRobbZRRaZTlUWmUUWmU5VFpIqLRRLQGU2GmHujBmXN7Dr26PAri3/Ft1+WOT+QY9olRxk4xyqZBpSFMY6ONMiqNsjwqjTIqjbJpUGkI09hoo4xKoyyPSqOMSqMsj0oTEY0mojWYCjP9QNeLYj3CNDbaKKPSKMuj0iij0iibBpWGMI2NNsqoNMryqDTKqDTK8qg0EdFoIkqbeqDr21ZCmMZGG2VUGmV5VBplVBpl06DSEKax0UYZlUZZHpVGGZVGWR6VJiIaTURpUw90m8c4wMYBd3h5vCDb8iT2iVHGTjHKpkGlIUxjo40yKo2yPCqNMiqNsmlQaQjT2GijjEqjLI9Ko4xKoyyPShMRjSaitMkHeu+Qn+Bs4zm8PF648vlROx5vzk+EfWKUsVOMsmlQaQjT2GijjEqjLI9Ko4xKo2waVBrCNDbaKKPSKMuj0iij0ijLo9JERKOJKG2Sgb7z8OGXXff44cP+2Hqzi9+xiPkeXh4ttOntT6w35ifCPjHK2ClG2TSoNIRpbLRRRqVRlkelUUalUTYNKg1hGhttlFFplOVRaZRRaZTlUWkiotFElDbFQLenv4hnwTfacB/xFtLDy8MFHaE35yfCPjHK2ClG2TSoNIRpbLRRRqVRlkelUUalUTYNKg1hGhttlFFplOVRaZRRaZTlUWkiotFElDbJEfoZY58YZewUo2waVBrCNDbaKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0iij0ijLo9JERKOJKK0G+qyoNIRpbLRRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpYmIRhNRWg30WVFpCNPYaKOMSqMsj0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0qjjEqjLI9KExGNJqK0GuizotIQprHRRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpUmIhpNRGk10GdFpSFMY6ONMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqjTIqjbI8Kk1ENJqI0mqgz4pKQ5jGRhtlVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUmohoNBGl1UCfFZWGMI2NNsqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0EdFoIkqrgT4rKg1hGhttlFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWkiotFElFYDfVZUGsI0Ntooo9Ioy6PSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0kREo4korQY6g0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0oTEY0morQa6AwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqTUQ0mojSaqAzqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDQR0WgiSquBzqDSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSRESjiSitBjqDSqOMSqMsj0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0qjjEqjLI9Ko4xKoyyPShMRjSaitBroDCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCpNRDSaiNJqoDOoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNBHRaCJKq4HOoNIoo9Ioy6PSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0iij0ijLo9JERKOJKK0GOoNKo4xKoyyPSqOMSqMsj0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0qjjEqjLI9KExGNJqK0GugMKo0yKo2yPCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqjTIqjbI8Kk1ENJqI0mqgM6g0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0EdFoIkqrgc6g0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0kREo4korQY6g0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0qjjEqjLI9Ko4xKoyyPSqOMSqMsj0oTEY0morTJB/rKE/1FX97/4tpn7fKDnx+7jNFVa/IU9olRxk4xyvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNBHRaCJKO4+BftjTYO4fxh/Pj+keXsboqjV5DvvEKGOnGGV5VBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VJqIaDQRpZ3DQA/e3rlNt97epl03vIzRVWvyJPaJUcZOMcryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDQR0WgiSjvfgeatYdus/m50GaOr1uRJ7BOjjJ1ilOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaSKi0USUdq4DPXyL2Ev9drJUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUmohoNBGlnetAL98ath19h5fj33E8XjgZ9olRxk4xyvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNBHRaCJKO4eBPrp3795vY6iX7zG73331d4PLTPwwvjpaiAtp7BOjjJ1ilOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaSKi0USUdg4D3YX+XST3DldD+g+DywzsML46WogLaewTo4ydYpTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWkiotFElDb5QO/stnHcvXHYnzhPPNB/24B9YpSxU4yyPCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCpNRDSaiNZgKsz0Ay37/Ru3D06j23Po1eX4d3TK3T+HPpY7PpFj2CdGGTvFKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0kREo4loDabCnNdAx2tcwxe61rzoNbpqTZ7FPjHK2ClGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VJiIaTURp5zrQ9W2rNCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqjTIqjbI8Kk1ENJqI0s5roOOUuw1nHG1juoeXMbpqTZ7EPjHK2ClGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VJiIaTURpkw/0nbf6l7RePozj7N4hP87ZZnV4eefK50fteDy6arRwIuwTo4ydYpTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWkiotFElDb5QN/tuscPu667Hy9V3+ziFy7i9a7h5Ta9/cAPrxovnAT7xChjpxhleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVSaiGg0EaVNPtC7t75s4/zgFRZvtKWj/nvS48s6Qo/j8cIJsE+MMnaKUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpYmIRhNR2uQD/QywT4wydopRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkeliYhGE1FaDXQGlUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelSYiGk1EaTXQGVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVSaiGg0EaXVQGdQaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaSKi0USUVgOdQaVRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6WJiEYTUVoNdAaVRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VJiIaTURpNdAZVBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VJqIaDQRpdVAZ1BplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFpIqLRRJRWA51BpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpYmIRhNRWg10BpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpUmIhpNRGk10BlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUmohoNBGl1UBnUGmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWkiotFElFYDnUGlUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkeliYhGE1FaDXQGlUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelSYiGk1EaTXQGVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVSaiGg0EaXVQGdQaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaSKi0USUVgOdQaVRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6WJiEYTUVoNdAaVRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VJiIaTURpNdAZVBplVBpleVQaZVQaZXlUGmVUGmV5VBplVBpleVQaZVQaZXlUGmVUGmV5VJqIaDQRpdVAZ1BplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFpIqLRRJRWA51BpVFGpVGWR6VRRqVRlkelUUalUZZHpVFGpVGWR6VRRqVRlkelUUalUZZHpYmIRhNRWg10BpVGGZVGWR6VRhmVRlkelUYZlUZZHpVGGZVGWR6VRhmVRlkelUYZlUZZHpUmIhpNRGkXOdDXPuv/wO/PWQqjq9bkKewTo4ydYpTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWkiotFElHaBA71/GH9If/hON6Or1uQ57BOjjJ1ilOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaZRRaZTlUWmUUWmU5VFplFFplOVRaSKi0USUdnEDfeUJb3Wzevvn0VVr8iT2iVHGTjHK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0EdFoIkq7uIHmbWLb3OpdJpvRVWvyJPaJUcZOMcryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDQR0WgiSruwga63k30qKo0yKo2yPCqNMiqNsjwqjTIqjbI8Ko0yKo2yPCqNMiqNsjwqTUQ0mojSLmygl28Tu3pD99FVa/Is9olRxk4xyvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNMqoNMryqDTKqDTK8qg0yqg0yvKoNBHRaCJKu8CB5m0l95dPkkdXrcmz2CdGGTvFKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0iij0ijLo9Ioo9Ioy6PSKKPSKMuj0kREo4ko7cIGeu/w2MCOrlqTu7+VUhaYClMDXcqlxFSYCxvowSn16jn04Ko1eSnlhC5woM/tRbFSCi5soM/x21alFFzYQLdBjSPv8kjcjK5ak5dSTubiBnrvkB/t7Of2yudH7Xg8umq0UEo5jYsb6PbkOH75Il77atPbn1gPrxovlFJO4QIHeufGl21kP4jvSekIPbrKFkopJ3eRA11KOWc10KXMSA10KTNSA13KjNRAlzIjNdClzEgNdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTNSA13KjMxjoHc/6eR3y78ZurxwY/EHv3s3u1P+haPMGq480U1O90fRkp/DtfcOu+7xWyydRGIFy5t0p/pLjblP4eV4G/BXtHBCuTWc5S9lbFzDj2+11se/11WnfSvzXm4Nozv9BGYz0I8f9v7T3qHGafEmlrvvDf+o0V4bBvbhCWXW0K6Jm5zujs59Dje67tG9e4cnfbegXmYFd+IGDx+eeqC3fwp3uu6je5+3h3MsnVByDUcf3Tvc+H4NT7dpDe2hc/Rw8fA59VuZ91JrGN3pJzGXgV7uW/7I4E3dn20n/dvgC93do3859UBvX8OVJ6d7DEnqc9g/5YOol91JzSn/9GpmDXuHf+2/3t041aM1tYb9qG5jc6o/B71pDfuPfhGX+9FrA3jKtzLvZdaw5j5Jmt1A66seX7fb9a8v35Kjv6vvn/Z9OTJrmGygN66hPUr7q04nswIszwVPJrMGqm2FWYk1LPaR5vrENq1B2kL7MrH8HAZJXmYNwz12MrMbaH3VW7xB1m+utj202C/9pQkGeuMaJhvojWvYO9W5NnI7qXfKR2pqDdwBy7cyO5nEGhZnF2c/yxivIcRxf/ll9XTvCZFYw5r7JGt+A91/1RseyVb75Wa7coqB3rSG6QZ60xr2T/UIQm4n9UaPsBPI7aT+dPWUs5BZw2KQh9EJPG0NUfqH5RpOeSKTWEMY3ydZ8xvo/rEyfEQu90sc3qYY6E1raHf0vXv3fnvKoc6s4Wb3f/avhJ7uFdzUTuqdchSSa9g/7P78Hz7pTvcidGINi60/5WfxtDVoAAefyijLSqwhjO6TtLkMtF44/Eu/B9ou+XJwXy72i/bj6Qd6+xrawSec9rG6fQ13W/uDe3/qTvlA2r6CcMpnn9k1XPu8fRanPNPI7aTYO9dOO9Cb19B3t4dP4p2PnyaxhjC6T9JmM9BhcY8Od/Riv+h09QwDvXUNO7vtut0bh6dbRWYNd7t/76883XPc1KfQa0cNLp1Qbifd6dpj+PRf9bauYe+wa2dKbRWnHeiNa+BL3dkHetsawug+SZvLQA/OYvp7dHBXsl/4Z5JT7vVrWDj7y6vN+jUsRu1UT96yn0I7aAxudxKZNbSHc5vll0/5beLU53DtvTYuj1//L8Mw7WlrYGm5otM9mBJrCMP7JG+OAz1+fZP9st8d9ec5h1338C+n+rK6dQ0L4zAts4YJB3rzp7A66Tup3KcQ7ad8If0Ed8P4pmlPWUObttj9yyvP/qLYhjUE+3ySfkADvXS686Sta1gYh2mZNSweQec50Kf9nlWTWMPyysmHYbGGhVN+i2/zGtqO0bS1kwztodM9N0msIdjnk/SDGWhMc8r91EfSJKfc69dA9fIRdSLJT4EfvTqNxBqWV577QJ/ylYCNaxhM2/IsY3jTtMwaevb5JNVA52TWcOetfhLa08NpH0nNYg1tku9f3dn951N9ycjtpNN9sZDEGvQZtOe553fKfe2l9p/dO6f8urRpDW3DP9ClODM+w1uZZ9bQW90nJzHzgb7z8GH/GywPHy6umHygB2u42//bTunjEXtiqc+hf+LQ/1bApMMw2kmnPL8ImTW0YTj66N5n3fjBm5VZw83uqL/86LS/C7V+DTejvXnQrjjTW5mn1jC6T05i3gPdvuhhMQFTD/RwDbv9D32c9hcDk59D/3t7R38+5a9zJVbQFk51fhFSa/jxnTPspcwarn0Wv2B6yucNm9bQxk3iirP9gub2NYzv9JOYx0CXUkINdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTNSA13KjNRAlzIjNdClzEgNdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10WWv5h/BP9xfxyzNSA13WWrxl3RneGac8AzXQZT3eF+IM74xTnoEa6LKeDtF1gL5kaqDLBnGI1nua9+/X0en9OnZv9e9L8Xp/ce/w/u578U4SkT843XvPlEnVQJcN+kP0brx13f5h99G9z2N09w67R/07U/Xvl7N3+O+fdI/bDdqVH9377L/xli7lWaqBLpvc7f4QB+grT/7aH3xv9Jf34z3g9I52/fvOxRDfrdPy50YNdNmkHaK/7Ef1pt6/bvAma3qHtTbQGuS7y6A8azXQZaO7XTyDvts9uNfjG1mNZnvvkBfAb3ZHp3zLzTK1GuiykQ7Bq7c2jYHe/ac/MtvLgd59r2Wv13e3ngc10GUjnVnrhTH0s7uY7eVA7+z89LOue3TqN4ov06mBLhutGei7Xf+qmJ1y9659Uj8i+jyogS4baaCHP83NC2NrBtqWyjNSA102YqDbU+n4QZJr/3lxtL45OuW+8u/9rV6vI/TzoAa6bMRAt/ntHt+792X/kne7+FG7NBroNuWP+LmT8qzVQJeNFgMdr3l1D9/qx/dGm+ZHr8R3npcn2bt3Dhc/GVqesRroUmakBrqUGamBLmVGaqBLmZEa6FJmpAa6lBmpgS5lRmqgS5mRGuhSZqQGupQZqYEuZUZqoEuZkRroUmakBrqUGamBLmVGaqBLmZEa6FJmpAa6lBmpgS5lRmqgS5mRGuhSZqQGupQZqYEuZUZqoEuZkRroUmakBrqUGamBLmVGaqBLmZEa6FJmpAa6lBmpgS5lRmqgS5mRGuhSZqQGupQZqYEuZUZqoEuZkRroUmakBrqUGamBLmVGaqBLmZEa6FJmpAa6lBmpgS5lRmqgS5mRGugZ2jv86ioX13h6Wi63GuhnaveTTn7HFSm7t77susdvbRzLNSM7WNF5DjSrefAKy21l3f3+3+X6m7/+fUTlPNRAP1Ptcf74Ye8/cUVGG5L2UV33aNNgrB/oxYrOeaDbatrQfsAVNxfze6etu/8y1P75Sw30+amBvij/Y4Qrdz85+kcuprV5/qBN5O4/d3/gGrd2oJcrmmig/+cQ1y1Wc2NxynHlyV//39XZx5UnJ/9sy8nUQF8UJhlceYqBbgfBOInd2dl/Xf8e88wHeucu27jf3W//i4tNDfT5q4G+KEwyuHI0Z/d33+ti8dpn7aT1zz/X9aOFZu9wOBW7t/rzb0123PJBu2Ub2f+lXX/0+7g6rBnoa+8tPnS/i2v2DuPsWDddlm3CKAvXLVdzU41tsH83mOIa6PNXA31RmGRw5WjO/r09Ae3PT/cPu4/ufa7ZHi/0FrMS2un3o3tt9PqT73b5o3uf/bd2w73DR+0j2riuzsmPD3Qr7h62/7fjZzsx7id5X2uJuV6VbcIoC9f5QEfx3eVm1ECfvxroi8IkgytHc8bUtinoD4w3YiZGC2E1H83+oz7djxee2tFQV0ZVO/LeGLyefGygrzyJnpcP20e1s/j+Q+/qK0CcI6/KNmGUheuWq2Ejo4rjf1MDff5qoC8KkwyuXLz4/Jc4JmqGbmoYNBujBV3SNUMalLvLaeGsfDDE4xX1A3aTp7ZxLI2F3U8+e9InMcursk0YZeE6Vrn7z3xtiqrVGNdAn78a6IvCJIMr25yFOMnlQHa3e3CvF1M5WuitG+jF7B/x7d9F1eAw6ytqy8o4wW5X7R3+4W67rPPvVdkmjLJwXV8b37Y6inJO5ZfnFDXQ568G+qIwyeDKwUF0MYWL0WtT8Y/jhdCuGQ307j/9kXHffa/d6vW+Y+1Aj1e0XI6hi6WbR/94s33A3mF/6F6VbcIoC9exvUe8hsdZwPKcuwb6/NVAXxQmGVy5fqCXYzhekMV3hEI/dzFC0fLTz/TTJice6DZ6f9hph+d+mDnJX5ZtwigL1w1XExv/qD+7+NPiq1EN9Pmrgb4oTDK48hQDrVfAcLfrXxVbtVyLb1KnBppM36va7+5feXK/TdxXV1fPnlW2CaMsXDdcTV+trzaNemqgz18N9EVhksGVawZ6caIqo4Vw5cniqr23+HBvSQz08kCvFbTj9P962I7Md4/+Y7wwJstNWodRFq4bD/Ry2xdfg2qgz18N9EVhksGV6wa6HdjiB0Wu/WdfkP1OP/p56/A+x9mb/TntlX/vm17vhygz0BTf4NW2u92f+gv73Udxxj0o24RRFq4bDfTq7KJ9DYpLNdDnrwb6ojDJ4Mp1A93ms3t8796XeilptCDtqo5fzmgXP2ohr5894idQMgMdLf0PlugZc/sq0R9F25jH7QZlmzDKwnXD1bSu5XMDTgdqoM9fDfRFYZLBlWsHOl6P6h7y65GjBeGHNvurbrRpfvRKPO/dvdOujdeXUwO983JfvPjhTk7k2yArXJVtwigL140GevBsgXPuGujzVwNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTNSA13KjNRAlzIjNdClzEgNdCkzUgNdyozUQJcyIzXQpcxIDXQpM1IDXcqM1ECXMiM10KXMSA10KTNSA13KjNRAlzIjNdClzEgNdCkzUgNdyozUQJcyIzHQpZS52PmvXCilXHb//f/7/wFbOd9pxzrO5wAAAABJRU5ErkJggg==)
- From the above graph, it is apparent that the company has grown its free cash flows and profits efficiently.
- Low free cash flows do not necessarily mean that the company is weak.
- During certain years of the company when the company is trying to expand, high capital expenditures will affect free cash flows but this generally results in high free cash flows once the Capex cycle is over.
- Between FY17 to FY19, the free cash flows seem to stagnate since the company was doing Capex for further expansion and the result of which is seen in FY20 and FY21.
- What worked for Asian Paints?
- Asian Paints has made good capital allocation decisions in terms of expanding to new geographies, setting up new plants at strategic points in time, and constantly making technological improvements.
- Asian Paints is always known for innovation in their product. They have managed to ward off competition by being ahead of their peers in a competitive market.
- They have managed to maintain good business relationships which have enabled them to achieve excellent supply chain management, have an excellent dealer and distributor relationships, and created brand loyalty with the customers.
Example of Declining Stars: Bajaj Auto:
![](data:image/png;base64,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)
- As is apparent from the graph, the free cash flow and profit numbers have hardly seen a growth. The company can generate good amounts of free cash flows every year but the re-investment of those cash flows is not translating into increased profits.
- One major reason for this in the case of Bajaj Auto has been the slowdown in the automobile sector which started around 3-4 years ago when sales across the industry started stagnating. To add to it, Covid did not make the matter easier. However, in the last few years, the company has fallen back in terms of innovations and capturing incremental market share compared to its peers. It also was not an early adopter of EVs (Electric Vehicles) which is a clear theme in the auto industry going forward.
- The result of not being able to achieve growth has also been reflected in the share price of the company which has given a mere 10% CAGR returns in the last 10 years.
Example of Emerging Compounders: Dixon Technologies:
![](data:image/png;base64,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)
- Dixon Technologies has an impressive rate of growth in profits. However, going by the free cash flows, the numbers are not very impressive. This is because, in recent years, the company has concentrated on trying to ramp up its capacity.
- Dixon is into contract manufacturing of electronic products and this has seen immense growth in recent years.
- Taking stock of expected demand and market penetration they could do in the future, the company did a lot of Capex and expects the revenues and profits to grow further.
Example of Laggards: Apollo Tyres:
![](data:image/png;base64,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)
- Apollo Tyres is seeing a consistent decline in its profits for several years now. To add to it, Capex does not seem to help in increasing the revenues and profits yet.
- Apollo Tyres has been operating at a high capacity utilization for several years and was due for a Capex cycle. However, the macroeconomic factors in the automobile industry have not been favorable for the company. This, coupled with dominant peers emerging has left very little pricing power with the company.
- In absence of pricing power, it is difficult to achieve growth in profits.
What Should Investors Do?
Free Cash Flow (FCF) is an important financial parameter to look at in the company while investing along with earnings growth available in the sector as well as for the company. For better compounding, an investor should look for companies with high FCF and high earnings growth
Disclaimer: The information here is provided for reference purposes only and should not be misconstrued as investment advice. Under no circumstances does this information represent are commendation to buy or sell stocks or MF.
Originally Published On:https://blog.investyadnya.in/what-is-free-cash-flow-and-why-it-is-important-for-business/