This program compares the dividends paid to what a firm could have paid, by estimating the free cash flow to equity (the cash flow left over after net debt payments, net capital expenditures and working capital investments.
A complete dividend discount model that can do stable growth, 2-stage or 3-stage valuation. This is your best choice if you are analyzing financial service firms.
This model uses a 2-stage FCFF model to estimate the appropriate firm value multiples for your firm. It will give you identical answers (in terms of value) as the 2-stage FCFF model.