Is an integrated three statement model necessary for forecasting and valuing a company? I have aand need a model. Is not not possible to forecast unlevered using: tax-affected EBIT, add capex, change in working capital, and D&A. Then once you discount unlevered free cash flow using to subtract current debt on the to get ?
I understand interest payments can increase over time. I this captured in the cost of debt in WACC? Can you not \use historic net working capital as a percent of sales for forecasting unlevered free cash flow?