Callouts & quotes from 575+ activist slides

"NOAM Physical is Core Business 69% of Revenues, 86% of OIBDA, 96% of Cash Flow"

"Procept reference doctor Elterman suggests Zenflow can displace Aquablation."

"Almost half of New Red Lobster's cash flow may be due to its rent "subsidy"."

"We Believe Limbach Overstates Free Cash Flow by Excluding Key Uses Of Cash"

"Management is not committed to flowing all the cost savings to bottom-line"

"Mercury's FY18 operating cash flow is inflated by $18.8m (43% of total)."

"GAAP Net Income has not been a good proxy for Valeant's free cash flow"

"Cumulative free cash flow was ~11% BELOW the 2018 Investor Day target"

"Cumulative free cash flow was ~11% BELOW the 2018 Investor Day target"

"We Also Observe Sub-Par Balance Sheet And Cash Flow Situation At PLTK"

"We use a discounted cash flow analysis to value the cliff portfolio"

"We use a discounted cash flow analysis to value the cliff portfolio"

"We find many indicators that WTRG's cash flow is being pressured."

"Operating cash flow is peaking as the slope of the curve flattens"

"Over $5 billion in sales with attractive free cash flow dynamics"

"Below: CPI PG 2023 Cash Flows show only €3m in interest received"

"Cash flow is so microscopic it is not even visible on the Y-axis"

"The keys are 2022 NCI inflows of $1.415 Billion at $1.98 / watt"

"Reported earnings for Book Retailers understates true cash flow"

"Margin has Expanded & Cash Flow Nearly Doubled in Last 3 Years"

"Why not? I'll pay extra for condoms and flowers in each room."

"Recurring revenue, Predictable growth, High free cash flow"

"AKG’s cash flow forecasts should be given no credence"

"Was an $18m (+12%) boost to cash flow not material?"

"Dropbox appears very rich on free cash flow basis."

"Macy's OpCo can maintain 95% of its free cash flow"

"Cash inflow from capex? A first in our lifetime!"

"Pursue free cash flow and ROIC, not EBITDA/MT"

"Historical cash flows tell a different story"

"Historical Cash Flows Tell a Different Story"

"Investors appreciate certainty of cash flow"

"62% of cash flow blown on share repurchases"

"Discounted Cash Flow Value = $3 billion"

"GMCR has not generated free cash flow"

"6.1x to 7.4x Year 1 Cash Flow"