Level2 notes book4 P131
Free cash flow= NOPLAT+Dep-FCinv-WCinv
where:
NOPLAT=net operating profit less adjusted tax
=EBITA- taxes
......
Professor's note: ...NOPLAT isessencially equal to net income plus after-tax interest expense...
问题是
Amortization 在两个表示中好像有些矛盾,另外Amortization是否应该跟depreciation同样对待? |