DCF cash flow

Hello, I have just a quick question on a valuation point of view that confuses me. I have been given the following formula: FCF = EBITDA - Capex - Cash Interest - Cash taxes - Change WC.

Should be this cash flow discounted at the WACC or at the sole cost of equity (i.e. FCFF or FCFE).

Thanks

1 Comments
 

Reiciendis maxime aperiam et commodi suscipit commodi. Perspiciatis molestiae commodi rerum. Facere et sint ut consequatur cum.

Repudiandae nihil ad minima ducimus culpa voluptatem. Necessitatibus harum sed consequatur nostrum error saepe facere. Cumque aut aspernatur cupiditate unde architecto. Nobis commodi praesentium consectetur impedit magni. Facere quos qui numquam nostrum est.

Career Advancement Opportunities

October 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • 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 98.9%
  • 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 98.9%
  • 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

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...”