Doesn't the EBITDA interest add back lead to it being capital structure neutral and actually not taking into account risk and leverage of the business? Or am I missing something?
| +192 | UBS Accused of Favoring H-1B Workers While Cutting U.S.-Born Employees | 50 | 3h |
| +96 | IB Energy Drink Tier List / Ranking | 67 | 12m |
| +82 | PJT M&A Group Selection 2026 | 13 | 1d |
| +70 | ONLY THESE BANKS OR YOU STRUCK OUT | 27 | 3h |
| +34 | Feedback for internship first desk at IBD BB - personal fit, "don't be too confident" | 23 | 1d |
| +28 | Does BofA still pay its associates rat pellets? | 14 | 18h |
| +21 | Stay at Weak Dealflow Team or Lateral? | 3 | 6h |
| +21 | Firm Thinks I'm Lying About Offer | 5 | 46m |
| +19 | Updated JPM Group Rankings | 30 | 19h |
| +19 | VP Deal Origination Credit | 2 | 1d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
They also say that FCF = NOPAT - CapEx. Doesn't this leave out D&A and WC adjustments?
EBITDA calc is correct. Figure it out man.
Yes I agree the calculation is right. But EBITDA from what I’ve read is an unlevered metric no? It’s before interest and taxes.
That’s directly opposite of the guide which says it takes into account leverage.
Aut qui ut perferendis aut sint. Mollitia voluptas consectetur vel tenetur. Iste doloremque mollitia vitae animi aliquam est officia.
Eligendi voluptatum blanditiis nostrum ipsa sint et molestias. Voluptatem dolore iure quo ea similique impedit.
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...