Finance

FCFE Calculator (Free Cash Flow to Equity)

Calculate cash available to equity shareholders after debt payments and reinvestment.

Net Income ($)

Depreciation & Amort. ($)

Capital Expenditures ($)

Change in Working Capital ($)

Positive = cash used

Net Borrowing ($)

New debt − debt repaid

Shares Outstanding

Formula:
FCFE = Net Income + D&A − CapEx − ΔWC + Net Borrowing
FCFE = Cash available for dividends and buybacks

FCFE vs FCFF

FCFE measures cash available to equity holders (after debt service). FCFF measures cash available to all capital providers (equity + debt). FCFE is used for equity valuation, FCFF for enterprise valuation.