Here is a quick and dirty example of how to calculate free cash flow...
Start with Operating Earnings or Earnings Before Interest & Taxes (EBIT) Tax effect it... meaning use the corporate tax rate to calculate the taxes. Subtract taxes from EBIT. Now you have Net operating profit after tax (NOPAT)
Add back depreciation & ammortization from the statement of cash flows. Subtract Capital Expenditures Subtract changes in working capital.
You now have debt free cash flow.
I asked if anyone knew MYE's free cash flow, because some companies report it.
Just as an FYI, calculating Free Cash Flow is the first step in the process of valuing a company by the Discounted Cash Flow Model. I follow FCF very closely because it is a far more important measure of a company's performance than earnings. First rule of finance is CASH IS KING. Earnings are an accounting construct; they have very little to do with cash generation. This is even more important that the second rule which states.. BUY LOW SELL HIGH!!! :-)