Friction friction and wear in so-called self-lubricating materials. Fluid friction occurs between fluid layers that are moving relative to each other. This internal resistance to flow is named "viscosity". In everyday terms, the viscosity of a fluid is described as its "thickness". Thus, water is "thin", having a lower viscosity, while honey is "thick", having a higher viscosity. The less viscous the fluid, the greater its ease of deformation or movement. All real fluids (except superfluids) offer some resistance to shearing and therefore are viscous. For teaching and explanatory purposes it is helpful to use the concept of an inviscid fluid
Free cash flow to equity Free cash flow to equity In corporate finance, free cash flow to equity (FCFE) is a metric of how much cash can be distributed to the equity shareholders of the company as dividends or stock buybacks—after all expenses, reinvestments, and debt repayments are taken care of. Whereas dividends are the cash flows actually paid to shareholders, the FCFE is the cash flow simply available to shareholders. The FCFE is usually calculated as a part of DCF or LBO modelling and valuation. The FCFE is also called the levered free cash flow. Assuming there is no preferred stock outstanding: where: or