Cash Flow Statement

Guides • Finance & Accounting • 08/09/2019

Below, we show how the Cash Flow Statement is constructed:

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Details & Assumptions

There are very few assumptions here:

Any excess cash above the minimum cash balance is used to pay down debt, and not as dividends no shareholders
Here we have shown Levered, rather than Unlevered Free Cash Flows (as we have not added back any After Tax Interest Expenses). As we don’t plan to calculate the investment’s NPV (only IRR, and Cash Multiples), we don’t need to calculate its Unlevered Free Cash Flows (or WACC).