Accounting – Cashflow Statement
Articles
What Is Free Cash Flow? Unlevered vs. Levered FCF Explained
What is Free Cash Flow, and how do Unlevered FCF and Levered FCF differ in a DCF and LBO interview? Learn which valuation each one feeds. Practice now.
How to Calculate Free Cash Flow from Net Income (Interview Walkthrough)
How do you calculate Free Cash Flow from Net Income in an interview? A 4-step framework covering D&A, after-tax interest, CapEx, and NWC. Practice now.
What Is Stock-Based Compensation (SBC) and Why Does It Matter for Valuation?
What is stock-based compensation, and why can it distort a DCF valuation through hidden share dilution? Learn the non-cash-but-not-free rule. Practice now.
How to Calculate the Cash Flow and Dilution Impact of Stock-Based Compensation (Interview Walkthrough)
How do you calculate the cash-flow add-back and the share-dilution impact of stock-based compensation in an interview? A 3-step framework. Practice now.
Cases
Walk Me Through the Cash Flow Statement
Walk me through the cash flow statement.
Free Cash Flow from the Statements
As an analyst, walk me through how you'd calculate a company's Unlevered Free Cash Flow starting from Net Income and using the three financial statements — what do you add back, what do you subtract, and why?
Stock-Based Compensation
Walk me through how stock-based compensation (SBC) affects the income statement, the cash flow statement, and dilution in equity value — and explain why it matters when valuing a company.