If you could go back in time to the start of this year, which of the following groups of real-life companies would you be interested to invest in? Table 1 below shows the historical revenue and free cash flow for the two companies in Group 1, namely, Company A and Company B. It’s clear that Company A has not grown its revenue much over the past four years and its free cash flow has also not been steady. Meanwhile, Company B’s revenue has barely budged and although its free cash flow has improved in every year, there’s only so much juice that can be squeezed from improving the free cash flow margin*. Source: Tikr Next we have Table 2 below, which shows the historical revenue and free cash flow for Group 2 consisting of Company C and Company D. Both companies have displayed excellent revenue growth for 2017 to 2021, with Company C quadrupling its revenue and Company D increasing its...