Disagree a little here.
Let’s say a company as 100rs of cash.
If it can invest that money and generate 20rs (roce of 20 percent) or more on its investment. Then it’s good that the co invest that money (capex etc.)
If it can merely generate 5-10 rs on it, instead it should distribute the cash as dividend.
If you still think a company should generate FCF generation is always needed, feel free to do so
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