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Appraiser Newsroom - Untitled Article

Appraiser Newsroom

He specializes in the valuations of business enterprises and their intangible assets. McGinley serves as a member of The ESOP Association’s Valuation Advisory Committee, and he was recognized as a Top 40 Under Forty honoree by the National Association of Certified Valuators and Analysts (NACVA) in 2017.

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Earnings and Cash Flows: A Primer on Free Cash Flow

Musings on Markets

In the Microsoft FCFF calculation, this would imply replacing the effective tax rate of 13.83% with an average effective tax rate of 22%, using the 2017-2021 time period, which would lower free cash flows to the firm.