NOPAT with benefits from income taxes

Hey - am using the marginal tax rate for my NOPAT calculations. How do you treat benefits from income taxes though? Simply using 0% for the marginal tax rate so that operating profit = NOPAT?

418 WSO Academy Equity Research Session Reviews: 4.84/5

Class of '28 Dec 2026 Cohort

5.00/5

Equity Research Full Resume Review

“wilson was an excellent mentor throughout the entire resume review process and i genuinely appreciated the time and effort he put into helping me improve my application. what stood out most was how thorough and attentive he was in understanding my background and making sure my experiences were accurately represented. he went beyond simply editing my resume by asking thoughtful questions and helping me identify ways to better communicate my accomplishments. in particular he helped me articulate the experience of building and selling my own business to a search fund and understand how to position that experience as a differentiator when applying to investment banking and private equity roles. he also provided practical advice on how to approach interviews and communicate my experience effectively. i especially appreciated his patience, responsiveness, and willingness to go back and forth until every detail was right. he was genuinely personable throughout the process and made what could have been a fairly straightforward resume review feel like a much more valuable mentorship experience. i am very grateful for his help and would highly recommend working with him to anyone going through the wso academy program.”

Class of '18 Nov 2026 Cohort

5.00/5

Equity Research Career Roadmap (optional)

“Aditya provided a pathway very specific for my background as a consultant looking for a career change. He provided additional resources I can look into and how to build a portfolio that will leverage my experience. ”

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NOPAT with benefits from income taxes

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