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Who
Already Uses REFS?
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PCF
(Price-to-cash flow ratio)
The calculation
of PCF is as follows:
LATEST SHARE
PRICE
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= PRICE-TO-CASH FLOW (x)
CASH FLOW
PER SHARE
Cash flow
per share is calculated using information taken from the Cash
Flow statement published in the latest available annual report.
This is required to be published by companies in accordance
with Financial Reporting Standard 1 (FRS1).
Cash flow
can be regarded as the volume of cash, generated by the trading
operations of the business, out of which the ordinary dividend
must be funded.
A full description
of the process for calculating cash
flow per share can be summarised as follows:
CASH FLOW
(£)
-----------------------------------------
X 100p = CASH FLOW PER SHARE (p)
WEIGHTED
AVERAGE SHARES IN ISSUE
Cash flow
per share can be subject to adjustment for a variety of reasons
which fall into the following two categories:
share
capital changes which give rise to share price adjustment
factors
annualisation
of accounting periods which are greater or less than 12
months in
duration
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REFS
is available in 3 formats to suit your needs 
Updated daily with data direct from the London
Stock Exchange 
Available
monthly or quarterly on CD
 
Available
monthly or quarterly in two hard-copy volumes
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