<Li> F C F = NOPAT − Change in NOA (\ displaystyle \ mathrm (FCF) = (\ mbox (NOPAT)) - (\ mbox (Change in NOA))) </Li> <Li> D C F = FCF WACC − BVD (\ displaystyle \ mathrm (DCF) = (\ frac (\ mbox (FCF)) (\ mbox (WACC))) - (\ mbox (BVD))) </Li>

How to calculate net operating assets from balance sheet