what is levered free cash flow lfcf 
levered free cash flow lfcf is the amount of money that a company has left remaining after paying all of its financial obligations lfcf is the amount of cash that a company has after paying debts while unlevered free cash flow ufcf is cash before debt payments are made levered free cash flow is important because it is the amount of cash that a company can use to pay dividends and make investments in the business formula and calculation of levered free cash flow lfcf l f c f e b i t d a n w c c a p e x d where ebitda earnings before interest taxes depreciation and amortization nwc change in net working capital capex capital expenditures d mandatory debt payments begin aligned lfcf ebitda delta nwc capex d textbf where text ebitda text earnings before interest taxes qquad qquad quad text depreciation and amortization delta text nwc text change in net working capital text capex text capital expenditures text d text mandatory debt payments end aligned lfcf ebitda nwc capex dwhere ebitda earnings before interest taxes depreciation and amortization nwc change in net working capitalcapex capital expendituresd mandatory debt payments 