duduct minorities interest from FCFF

When I do valuation I use FCFF which calculate from NOPAT (net operating profit after tax). It mean minorities interest are included in FCFF. so when I discount FCFF to present, this present value still have a part of minorities interest. Please kindly help me the way to deduct the minorities interest to evaluate price for only equity shareholder

Many Many thanks for your helps!

Use FCFE instead.

Also look:


NCI’s are not debt-holders of the entity, so FCFE valuation includes cash flows to both controlling and non-controlling shareholders.