It is posts like this which lead me to question your aptitude. The difference between NPAT and EBITDA, for a company which doesn't pay tax, is the treatment of depreciation and amortisation. Why are you deducting sunk costs from future profit forecasts?
You are doing it. The fact you can't see it says alot about either your aptitude or your integrity.
Never used DCF to value companies? Really? What did you use an abacus?
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