Free Cash Flow Calculator

Use this free-cash-flow calculator as a DCF building block: cash to all funders (FCFF). FCFE would still subtract after-tax interest and add net borrowing, which this page does not.

NOPAT = EBIT × (1 − tax%). FCFF = NOPAT + D&A − capex − increase in NWC. If working capital fell, type a negative change so cash is added back. Tax is a percent (24 for 24%), not a currency tax charge.

EBIT: Operating profit before interest and tax.

Tax (%): Statutory or effective tax rate as a percent.

D&A: Depreciation and amortisation to add back (non-cash).

Capex: Cash spent on long-lived assets this period.

Δ NWC: Increase in net working capital (inventory + receivables − payables). Negative if WC fell.

NOPAT: Net operating profit after tax.

FCFF: Free cash flow to the firm.