EBIT for more capital intensive cyclical stocks r Key variables are cash conversion, capex/EBITDA, ROIC, fair equity risk premium, cost of debt it Assess risk (beta) by the volatility of a company's cash flow and earnings growth Cash flow based valuation model Focuses on key drivers to generate cash

ence Agency, McLean, Virginia, August 22, 1994. 97. Dietz PE: "Unsolicited Communications to Government Officials and Agencies: The Need to Report, Assess, and Avoid Counterproductive Responses," Threat Management Conference, Central Intelligence Agency, McLean, Virginia, August 23, 1994. 98. Dietz P