Trending Content - Investment Banking Forum
| +244 | UBS Layoffs (October 2026) | 71 | 1h |
| +110 | Do people still want to go PE? | 34 | 12h |
| +71 | UBS Tech layoff | 22 | 1h |
| +62 | Bloomberg - New UBS Investment Bankers See Smaller Pay Gain on Promotion | 15 | 23h |
| +46 | Think I'm fucking up my analyst years | 16 | 4d |
| +36 | What Differentiates the Best Analysts as AI Improves? | 9 | 21h |
| +33 | Lazard hirevue | 11 | 1d |
| +26 | Ambitious CC Student trying to break into IB | 14 | 6d |
| +23 | Quitting After First 4 months | 10 | 8h |
| +22 | Cornell Club T10 Rankings (UPDATED 10/2026) | 15 | 5h |
Career Resources
If they have no debt on the B/S (no interest bearing liabilities), then there should be no interest expense. Assuming $5MM cash, you're going to have interest income, so you're going to want to subtract tax-effected interest income from the CFO number.
Other than that, you're good. I generally calculate FCF as net income plus non-cash expenses less changes in working capital less capex -- I do not include changes in tangible, non-interest bearing LT accounts. I suppose it's a preference thing. But given the level of detail that you were provided with, you are going about calculating FCF the right way.
Ut ut beatae soluta aliquid. Beatae ut sit provident et praesentium esse reiciendis aperiam. Et voluptatem sequi ut fugit consequuntur et delectus et. Qui asperiores reiciendis eos perspiciatis quae sapiente at.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...