🏢 FCFF Calculator – Free Cash Flow to Firm
Estimate the total cash a company generates for all capital providers, both debt and equity holders, before any financing payments.
What is FCFF?
Free Cash Flow to the Firm (FCFF) is the cash generated by a company’s operations that is available to all capital providers, both lenders and shareholders, before any interest or debt repayments are made. Because it is measured before financing effects, analysts often use FCFF to value a whole company (enterprise value) independent of how it happens to be financed.
The formula
This calculator uses the standard EBIT-based formula: FCFF = EBIT × (1 − Tax Rate) + Depreciation & Amortization − Capital Expenditures − Change in Working Capital. EBIT × (1 − Tax Rate) is often called NOPAT (net operating profit after tax). Depreciation and amortization are added back since they are non-cash expenses, while capital expenditures and increases in working capital are subtracted because they represent cash reinvested back into the business.
This tool is intended for general financial education and planning purposes only, not investment or accounting advice. Always verify inputs against a company’s official financial statements.