Part 9: Lever #5 – Capital | Cash Flow
Update: 2025-09-09
Description
This is Part 9 of Steve Coughran’s book Cash Flow. Steve introduces the fifth lever of cash flow: capital. He explains why EBITDA isn’t cash flow, how invested capital and ROIC reveal whether a business is creating or destroying value, and the hidden cash traps in receivables, inventory, and CapEx that often strangle growth.
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