what is unlevered free cash flow ufcf 
unlevered free cash flow ufcf is a company s cash flow before taking interest payments into account unlevered free cash flow can be reported in a company s financial statements or calculated using financial statements by analysts unlevered free cash flow shows how much cash is available to the firm before taking financial obligations into account ufcf can be contrasted with levered cash flow lfcf which is the money left over after all a firm s bills are paid investopedia zoe hansenformula for unlevered free cash flow ufcf the formula for unlevered free cash flow uses earnings before interest taxes depreciation and amortization ebitda and capital expenditures capex which represents the investments in buildings machines and equipment it also uses working capital which includes inventory accounts receivable and accounts payable 