To create shareholder value in this environment companies must increase their cashflows in real terms.

为了在这种环境下创造股东价值，企业必须增加实际现金流。

The idea is similar to factoring, whereby firms sell off all their invoices at a discount to improve their cashflow.

这个想法与上面提到的分散化借款的想法很一致，企业在一定折扣的基础上卖出票据，以此获得现金来改善自己的经营状况。

It estimates that its cashflow could be reduced by as much $1.4bn in 2019, adding to its woes.

该公司估计，到2019年，其现金流可能减少多达14亿美元，使其雪上加霜。

That is less than 1% of the forecast operating cashflow in 2021 for a panel of 37 listed airlines.

这还不到37家上市航空公司预测的2021年运营现金流的1%。

Eventually, earnings must tally with cashflow.

最终，收益必须与现金流相符。

Its ability to control production expenses helped bolster its cashflow in the first quarter.

它控制生产费用的能力帮助增强了第一季度的现金流。

These days it is big tech that blows cashflows on capital spending.

如今，是大型科技公司在资本支出上浪费了现金流。

The troubled lgfv in Zunyi, for instance, has had negative cashflows since 2016, and seems to have little hope of a turnaround.

例如，陷入困境的遵义地方政府融资平台自 2016 年以来一直出现负现金流，似乎扭亏为盈的希望渺茫。

The primary task for any management team is to defend margins and cashflow, which investors favour over revenue growth when things get dicey.

任何管理团队的首要任务都是保护利润和现金流，当形势变得不明朗时，投资者更喜欢利润和现金流，而不是收入增长。

Mr Shiller's pioneering paper in 1981 looked at the relationship between the prices of shares and their intrinsic value—the cashflows that shareholders will eventually receive.

席勒于1981年发表的具有开创性的容貌与着眼于，股值与其内在价值的关系，也就是股东最终接受的资金流转.