Yilmaz Ratio

Purpose: Yilmaz Ratio is “CFFO- Capital Expenditures-Property, Plant, and Equipment Purchased via a M&A: CFFO”. However, this is the last and valid version of Yilmaz Ratio. Materials and Methods: Actually, it started to be created by Yilmaz (2021) during his article investigating the usage possibility of Free Cash Flow (FCF) concept in corporate finance. It was evolved in Yilmaz (2022) during the creation of cash flow based corporate finance (CFCF) model. Findings: The most important change was realized in Yilmaz (2024b) during the explanation of dividend policy function of the model. This is the Yilmaz ratio given above in the Abstract.   Implications to Theory, Practice and Policy: It was used during free cash flow based corporate finance (Yilmaz,2021) and dividend policy function of cash flow based corporate finance (CFCF) model (Yilmaz, 2024b).    It also could be used in cash management of working capital management and financial investment decisions etc. Potential other usage fields will be searched in future. Keywords: Yilmaz Ratio, Free Cash Flow, CFFO, Capital Expenditures, Property, Plant, and Equipment Purchased via a M&A.