For example, EBITDA doesn’t account for capital expenditures, which free cash flow does. Discounted free cash flow is a company’s enterprise value plus future cash flows over a specific period ...

Free cash flow (FCF ... sheet can also be used to calculate FCF. Other factors from the income statement, balance sheet, and statement of cash flows can be used to arrive at the same calculation.

I already mentioned above that Ecolab seems rather expensive right now with Ecolab trading for 30 to 40 times earnings and free cash flow. But as always, let’s use a discount cash flow ...