Pascal PIERRE edited section_Building_a_Profitability_Valuation__.tex  almost 8 years ago

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We can now transform Eq. 9 by replacing the $FCFF$ with its equivalent identified in Eq. 17.  \begin{equation}  EV_{t}=\displaystyle\sum_{i=t+1}^{t+K}\frac{FCFF_i}{(1+R)^i}+EV_{t+K}  \end{equation}  becomes  \begin{equation}  EV_{t}=\displaystyle\sum_{i=t+1}^{t+K}\frac{FCFF_i}{(1+R)^i}+EV_{t+K}  \end{equation}