## Value Factors

For similar reasons as for the Earnings Yield 5Y, this ratio calculates the FCF Yield of the last 5 years to smooth out business and economic cycle, as well as price fluctuations. It's calculated as follows:

$FCF Yield 5Y = ∑ ( Cash Flow from Operations last 5 years ) - ∑ ( Capital Expenditure last 5 years ) ( Enterprise Value * 5 )$