MBA 530

• EBIT(1-Tax Rate) + Depreciation
•    (NOPAT)

NFA + Dep

(CA-STI) - (CL-N/P)

(Current Assets - Short Term Investments) - (Current Liabilities - Notes/Payable) 

OCF - GFA - NOWC

• After Tax Interest
• N/P
• LT Bonds
• Preferred Dividends
• Preferred Stock
• Dividends
• Common Stock
• Short Term Investments 

Interest * (1-Tax Rate)

Net Income - Retained Earnings

NOPAT - [WACC * (Total Liabilities & Equity - A/P - Accruals)]

EBIT(1-Tax)

Market Value of Equity - Book Value of Equity

(Price Per Share * Shares) - Total Common Equity

PV(1+I)^N