deletions | additions       diff --git a/section_Building_a_Profitability_Valuation__.tex b/section_Building_a_Profitability_Valuation__.tex  index 64fc4b1..b8bcb6b 100644  --- a/section_Building_a_Profitability_Valuation__.tex  +++ b/section_Building_a_Profitability_Valuation__.tex 
...
\subsection{Identifying the main components of the model}  We will be using the Discounted Free Cash-Flow to Firm model (\textit{FCFF} hereafter). As its name suggests, this model effectively discounts all the cash-flows that are/can be distributed to the shareholders and debt holders of the firm. Applying (1) to the firm, we get :  \begin{equation}  EV_{t}=\displaystyle\sum_{i=1}^{K}\frac{FCFF_i}{(1+R)^i}+EV_{t+K} EV_{t}=\displaystyle\sum_{i=1}^{K}\frac{FCFF_{t+i}}{(1+R)^i}+EV_{t+K}  \end{equation}  where $EV_{t}$ is the enterprise value of the firm receiving the free cash-flows ($FCFF$).  \\