UBS Deck
What's the difference between levered and unlevered free cash flow, and which discount rate pairs with each?
Model answer
Unlevered FCF is the cash flow available to ALL capital providers, calculated before any financing items: EBIT x (1 − tax rate) + D&A − capex − increase in net working capital. Discount it at WACC —…
The full, human-reviewed answer is in the bank.
Sign up free and Daily 10 serves you 10 questions a day from all 2,000+ — or go Pro for unlimited reps.
More from UBS Deck
- What does UBS stand for, and where does the firm come from?
- In the 1998 merger that created UBS, what did Union Bank of Switzerland and Swiss Bank Corporation each bring to the combined firm?
- What was S.G. Warburg, and why does it still matter for understanding UBS's investment bank?
- What was the significance of UBS's acquisition of PaineWebber in 2000?
- What happened to UBS in the 2008 financial crisis — the settled facts a candidate should know?
- Describe UBS's 2012 strategic pivot — what changed, why, and why it is the single most important fact for understanding today's firm.