NOPLAT

NOPLAT=EBITA-TAX =(EBITDA-D)*(1-TAX) from the equation here, seems like interest is taxed but doesn’t interest has tax shield? a little confused here Thanks

NOPLAT uses adjusted taxes

NOPLAT is discounted at the after tax WACC, including interest tax shield in the cash flows would double count the impact

=(EBITDA-D)*(1-TAX) + (t*D)