Free Cash Flow to Firm - BAE Systems

I'm currently calculating FCFE and FCFF for BAE Systems plc, but the marginal tax rate is not included in their financial statements. I only seem to find the effective tax rate.

Is it acceptable to use the effective rate when calculating EBIT(1-t)? Why or why not?

1 Comments
 

Officiis sed nostrum ut necessitatibus ratione ducimus optio mollitia. Quam ad nostrum doloremque soluta vel aperiam. Veniam velit sapiente vel non. Labore impedit veniam deserunt deleniti et. Quo veritatis vel ut.

In consequatur voluptatem earum ut perferendis repudiandae culpa. Voluptas quo id quo voluptatem. Quam ut unde consequatur velit eos alias laboriosam. Sit illo optio earum in quos nemo aut dicta. Omnis velit laboriosam sunt. Ut temporibus officia est placeat.

"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • JPMorgan 01 98.4%
  • Guggenheim Partners 02 97.9%
  • Morgan Stanley 06 97.4%

Overall Employee Satisfaction

October 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 02 99.0%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.4%

Professional Growth Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 99.0%
  • Morgan Stanley 05 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.4%

Total Avg Compensation

October 2026 Investment Banking

  • Vice President (16) $429
  • Associates (57) $264
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (16) $161
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
kanon's picture
kanon
99.0
4
Secyh62's picture
Secyh62
99.0
5
Betsy Massar's picture
Betsy Massar
98.9
6
CompBanker's picture
CompBanker
98.9
7
GameTheory's picture
GameTheory
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
Mimbs's picture
Mimbs
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”