
Unlevered free cash flow: bridge EBITDA to cash
Reconcile EBITDA to unlevered free cash flow in one worked example, cross-check it with a tax-shield shortcut, and see how the levered figure differs.
Practical guides to Excel and financial modeling. Work through the details, understand the mistakes, and build with more confidence.

Reconcile EBITDA to unlevered free cash flow in one worked example, cross-check it with a tax-shield shortcut, and see how the levered figure differs.

Calculate CAGR in Excel from a five-year revenue series, compare it with the average yearly growth rate, catch the off-by-one period count and convert an annual rate to monthly.

Work out what each measure values, classify debt, cash and other claims, and bridge between enterprise value and a per-share equity value with checked answers.

Diagnose a total that silently ignores text-stored amounts, convert the amount column with VALUE or Paste Special, and keep leading-zero account codes intact.

Use Excel's NPV formula with a worked cash-flow example. Put the initial investment outside NPV, check timing errors, and compare NPV with XNPV.

Calculate a loan payment with Excel's PMT function, keep the sign and rate-period conventions straight, and reconcile every payment into interest and principal.