Cash flow is powerful—but as a first screen, it’s too volatile. I start with the Dividend Triangle—multi-year trends in revenue, EPS, and dividends—to find steady compounders across cycles. Then I bring in cash flow to confirm my thesis and verify the safety of the dividend. If you want CFO mechanics and the BCE visuals, see Part 1: Operating Cash Flow vs Free Cash Flow: Follow the Cash (Case Study). The Dividend Triangle Comes First Your first pass should be fast, comparable, …
Continue Reading about Why Cash Flow from Operations Isn’t My First Screen—and Where It Wins Big
