defour44

Thecodont Wrote:
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> I thought NOPLAT was EBIT(1-t). I have also seen
> NOPAT used as EBIT(1-t). I think all three are
> the same thing. But I do not think that any make
> adjustments due to defered taxes since they
> represent cash flows before taxes


It's helped me by thinking that they are all the same...the only thing is check out pg. 271 vol 3. where it gives the def of NOPLAT; Says that NOPLAT = Unlevered net income + change in deferred taxes.

Unlevered net income by itself is EBIT(1-T)

FCF looks and smells just like FCFF, only NOPLAT is used instead of EBIT(1-T) which includes an adjustment for deferred taxes...I really hope they don't get that tricky.