Free cash flow to equity is the NOI or any other benchmark return. Add back Non-cash charges (depreciation, other simlilar stuff) to NOI beacuse that dint actually lead to cash outflow but had been reduced from NOI.
Next because ur calculating FCF for equity make sure Interest has been deducted and NOI is after Interest payments.
What is left is free cash flow for equity.
N.B.: Also focus on how tax savings on depn & other expenses plays a role.
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Free cash flow to equity is the NOI or any other benchmark return. Add back Non-cash charges (depreciation, other simlilar stuff) to NOI beacuse that dint actually lead to cash outflow but had been reduced from NOI.
Next because ur calculating FCF for equity make sure Interest has been deducted and NOI is after Interest payments.
What is left is free cash flow for equity.
N.B.: Also focus on how tax savings on depn & other expenses plays a role.