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dbogatic · Sep 28, 2021 · 6efcb81 · 6efcb81
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diff --git a/intrinsic_value.ipynb b/intrinsic_value.ipynb
@@ -6887,7 +6887,7 @@
     "\n",
     "## Variables:\n",
     "\n",
-    " * Free Cash Flow (FCF) = Operating cash flow - Total CapEx (more conservative because it includes both growth and maintenance CapEx)\n",
+    " * Free Cash Flow (FCF) = Operating cash flow + Total CapEx (more conservative because it includes both growth and maintenance CapEx)\n",
     "\n",
     " * FCF Growth Rate 10 years (g) - 10-year average or make a judgement call what is a realistic growth rate to continue into the future\n",
     " \n",

diff --git a/value_screen.ipynb b/value_screen.ipynb
@@ -10,7 +10,7 @@
     "\n",
     "* D/E <= 0.50 low debt \n",
     "* Current Ratio > 1.5 more than enough cash to cover current liabilities\n",
-    "* ROE stable growth for the past 10-years\n",
+    "* ROE >= 8.00% stable growth for the past 10-years\n",
     "* FCF stable growth last 10 years (cash-rich)\n",
     "* Operating Margin - stable operating margins over the last 10 years (strong competitive position)\n",
     "* Companies that grow without issuing additional shares"