Free cash flow to equity (FCFE) is a measure of how much money a company can pay to its shareholders after paying for its expenses, investments, and debts. It shows how well a company can generate cash from its main operations and how much cash is left for the shareholders. The formula for FCFE is: Where: - Cash from operations (CF015, cf_cash_from_oper) is the amount of money a company makes from its normal business activities. - Capital expenditures (CF021, cf_purchase_of_fixed_prod_assets + CF018 cf_disposal_of_fixed_prod_assets) is the amount of money a company spends on buying or improving its fixed assets, such as buildings, equipment, or land. - Net debt issued ((CF049, cf_proc_st_debt_and_cl + CF051, cf_pymt_st_debt_and_cl) + (CF053, cf_proc_lt_debt_and_cl + CF050, cf_pymt_lt_debt_and_cl) + (BS063, bs_pfd_eqty_and_hybrid_cptl - BS063, bs_pfd_eqty_and_hybrid_cptl (Previous)) - IS027, is_tot_cash_pfd_dvd) is the difference between the amount of money a company borrows and repays in long-term and short-term debt, and the amount of money it raises and pays out in preferred equity and dividends. Capital expenditures always returns a negative value because it is a cash outflow.