How can the free cash flow approach to valuing an enterprise be used to resolve the valuation

Question:

How can the approach to valuing an enterprise be used to resolve the valuation challenge presented by firms that do not pay dividends? Compare and contrast this model with the valuation model.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Free Cash Flow
Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. Unlike earnings or net income, free cash flow is a measure of profitability that excludes the...