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ฦ(x)
Use variable names from the panel above (e.g. FV, r, n) โ or type numbers directly: 10000 / (1 + 0.08)^10
EBIT$
$
Earnings Before Interest and Tax
EBIT = 300
tax% as decimal
Tax rate (decimal)
tax = 0.25
DA
Depreciation & Amortisation
DA = 60
capex$
$
Capital expenditures
capex = 80
delta_wc
Change in working capital
delta_wc = 20
๐ก You can also enter values directly in the formula: 10000 / (1 + 0.08)^10
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โฌ Export Calculation
Exports a plain .txt file with your expression, formula, all variable values, result, and educational notes โ ready to paste into any report, Word doc, Notion, or Google Docs.
The exported file includes the formula in standard mathematical notation โ you can paste it directly into Excel, Google Sheets, or back into FinanceSheep.
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Learn: How Much Cash Does the Whole Business Generate?
Estimating Cash Flows ยท Educational Guide
The Core Idea
Think of FCFF as the cash the business generates for everyone who has funded it โ both lenders and owners. It's the purest measure of business performance because it ignores how the company is financed.
How It Works
FCFF = NOPAT โ Net Reinvestment. NOPAT (after-tax operating profit) is what the business earns for all providers. We subtract what must be reinvested (capex minus D&A plus working capital increases) to get available cash.