Serbest Nakit Ak\u0131\u015f\u0131 (Free Cash Flow, FCF), bir \u015firketin operasyonlar\u0131ndan sermaye harcamalar\u0131n\u0131 \u00e7\u0131kard\u0131ktan sonra \u00fcretti\u011fi nakdi temsil eder; finansal sa\u011fl\u0131\u011f\u0131n ve hissedar de\u011fer yarat\u0131m\u0131n\u0131n kilit g\u00f6stergesidir.<\/p>\n
FCF’nin yayg\u0131n hesaplama yollar\u0131: FCF = \u0130\u015fletme Nakit Ak\u0131\u015f\u0131 – Sermaye Harcamalar\u0131. Veya: FCF = Net Gelir + Amortisman ve \u0130tfa Paylar\u0131 – \u0130\u015fletme Sermayesi De\u011fi\u015fimleri – CAPEX. \u015eirkete Serbest Nakit Ak\u0131\u015f\u0131 (FCFF) bor\u00e7 servisinden \u00f6nceki tutar, \u00d6z Sermayeye Serbest Nakit Ak\u0131\u015f\u0131 (FCFE) bor\u00e7 servisinden sonraki tutar. Her ikisi farkl\u0131 de\u011ferleme ama\u00e7lar\u0131yla kullan\u0131l\u0131r.<\/p>\n
FCF, kar yerine nakit hareketini \u00f6l\u00e7er. Bu \u00f6nemlidir \u00e7\u00fcnk\u00fc: amortisman ger\u00e7ek nakit \u00e7\u0131k\u0131\u015f\u0131 de\u011fildir, sat\u0131\u015flar her zaman nakit alacaklar\u0131na d\u00f6n\u00fc\u015fmez, sermaye harcamalar\u0131 k\u00e2r-zarara yay\u0131l\u0131r ama nakit an\u0131nda \u00e7\u0131kar. Pek \u00e7ok \u015firket karl\u0131 g\u00f6r\u00fcn\u00fcr ama negatif FCF \u00fcretir ve sermaye kayna\u011f\u0131na ba\u011f\u0131ml\u0131d\u0131r; tersine, baz\u0131 \u015firketler hesap kurallar\u0131 nedeniyle d\u00fc\u015f\u00fck k\u00e2r ama g\u00fc\u00e7l\u00fc FCF \u00fcretebilir.<\/p>\n
Sa\u011flam FCF \u00fcretimi \u015fu olanaklar\u0131 sa\u011flar: temett\u00fc \u00f6demeleri, hisse geri al\u0131mlar\u0131, bor\u00e7 \u00f6deme, sat\u0131n almalar ve yeniden yat\u0131r\u0131m. Yat\u0131r\u0131mc\u0131lar tipik olarak g\u00fc\u00e7l\u00fc FCF \u00fcreticileri (Microsoft, Apple, Google) i\u00e7in premium \u00f6der. Startup’lar tipik olarak b\u00fcy\u00fcme a\u015famas\u0131nda negatif FCF \u00fcretir; ancak yat\u0131r\u0131mc\u0131 oda\u011f\u0131 son y\u0131llarda ‘verimli b\u00fcy\u00fcme’ ve gelecekteki FCF g\u00fcc\u00fcne kaym\u0131\u015ft\u0131r.<\/p>\n","protected":false},"excerpt":{"rendered":"
TLDR: Serbest Nakit Ak\u0131\u015f\u0131 (Free Cash Flow, FCF), bir \u015firketin operasyonlar\u0131ndan sermaye harcamalar\u0131n\u0131 \u00e7\u0131kard\u0131ktan sonra \u00fcretti\u011fi nakdi temsil eder; finansal sa\u011fl\u0131\u011f\u0131n ve hissedar de\u011fer yarat\u0131m\u0131n\u0131n kilit g\u00f6stergesidir. FCF Hesaplama FCF’nin yayg\u0131n hesaplama yollar\u0131: FCF = \u0130\u015fletme Nakit Ak\u0131\u015f\u0131 – Sermaye Harcamalar\u0131. Veya: FCF = Net Gelir + Amortisman ve \u0130tfa Paylar\u0131 – \u0130\u015fletme Sermayesi De\u011fi\u015fimleri […]<\/p>\n","protected":false},"author":4,"featured_media":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","format":"standard","meta":{"footnotes":""},"categories":[],"class_list":["post-8060","term","type-term","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/8060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term"}],"about":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/types\/term"}],"author":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/comments?post=8060"}],"version-history":[{"count":1,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/8060\/revisions"}],"predecessor-version":[{"id":9289,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/term\/8060\/revisions\/9289"}],"wp:attachment":[{"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/media?parent=8060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/virconlegal.com\/tr\/wp-json\/wp\/v2\/categories?post=8060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}