Urgent question CFADS & Cash conversion ratio
Hi all,
Which exact formulas do you use for these? having trouble finding the exact one, as many different sources on the web use different versions.
- Interest coverage ratio : Ebit / net cash interest expense (excluding pik)
- fcf conversion ratio: EBITDA - Maintenance Capex - Taxes / EBITDA (do you include change in Wc?)
- CFAD: EBITDA - Capex (Maint and growth) - Taxes - Change WC / Net cash interest expense (excluding pik) + mandatory repayments (Exlcuding optional/ cash sweep?)
Huge thank you!!
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