[original post removed]
is the cashflow that is calculated yours or someone else’s?
It belongs to the company, not minority shareholders yet (because it hasn’t been distributed into dividends)
I guess you’re saying that for someone to count the money as theirs, they would have to be a controlling member of the company?
Does the book says that FCFF measure is more suitable for valuation when you are a controlling shareholder? If yes, then it has total sense. Since you are a controlling shareholder, you can do whatever you want to that FCFF, so you can you use it to valuate your own position.
If you are not a controlling shareholder, that FCFF is uncertain and not much reliable for valuation. The most common way to valuate your position is to use all the risk premiums the controlling shareholder is using above (i.e required return) but add some more risk premiums like control, liquidity, marketability, etc. This is from another chapter btw.