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Amazon’s Riddle: When is Cash Flow from Operations not a Cash Flow?

June 11, 2013

We have published a new IOI Tear Sheet on Amazon (AMZN). This article provides more color on our valuation of the company. Cash Flow from Operations and Net Working Capital Generally, IOI uses Cash Flow from Operations (CFO) as a base for estimating the economic profit generated by a given firm. CFO can be thought …

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