What is unlevered free cash flow?
- A EBIT less taxes, plus depreciation and amortisation, less capital expenditure and change in working capital
- B Net income plus depreciation
- C Cash at bank
- D Revenue less all expenses
Answer
EBIT less taxes, plus depreciation and amortisation, less capital expenditure and change in working capital
It excludes interest because it represents cash available to all capital providers before financing decisions.





