Not really. The '01 cash flow numbers would have been generated by the stores existing at the time, as would the depreciation figure. Same with '08. There is no future assumptions in the calculations.
It's interesting that it cost Home Depot 3x the depreciation in '08 for roughly 2x the stores. Logically it makes sense though, as older stores would require more upkeep than newer ones.
The Right Way to Look at Cash Flow [View article]
It's interesting that it cost Home Depot 3x the depreciation in '08 for roughly 2x the stores. Logically it makes sense though, as older stores would require more upkeep than newer ones.