Every number, back to its source
One model feeds every figure in this app. Press any figure to see the filed page, the highlighted line, or the calculation behind it.
- calculations
- 261
- sourced inputs
- 201
- checks passed
- 12
How this was built
The app runs the same formulas as the Excel file, in the same order, so changing a lever here gives the result the file would give. All 12 model checks tie a result to a figure the calculation did not use.
For inputs held as text, a script confirmed that the quoted line appears on the stated page. Web sources are links, not copies, so check them against the original. 9 levers are stated assumptions. Figures stop at 30 September 2026.
What a source looks like
Documents
| Document | Format | Open |
|---|---|---|
| URD 2025 | 524 pp | Open PDF |
| URD 2024 | 504 pp | Open PDF |
| URD 2023 | 548 pp | Open PDF |
| Amendment to URD 2025, H1 2026 | 88 pp | Open PDF |
| H1 2026 results slides | 42 pp | Open PDF |
| Veolia 9M 2026 press release | 12 pp | Open PDF |
| Project briefing | 52 pp | Open PDF |
| Enviri definitive proxy, pp.43-65 | Text | Open |
| Enviri 10-Q Q1 2026, overview | Text | Open |
| Enviri 10-K FY2025, Note 12 | Image | Open |
| Enviri 10-K FY2025, Note 16 | Images | p.107p.108 |
| EPA 2023 extracts | CSV | SitesOutboundNational |
| Calculation model | Excel, CSV | ExcelInputsCalculations |
Model checks: 12 of 12 pass
| Check | Model | Reference | Result |
|---|---|---|---|
| ROCE 2025 reproduces 9.4%Group return inputs read correctly | 0.094 | 0.094 | PASS |
| Forecast EBITDA 2026 matches Veolia's $200MSeller and buyer agree on the 2026 base | 201 | 200 | PASS |
| Implied LTM EBITDA, high end agrees (2,780 / 17x)BofA range is internally consistent | 163.7 | 163.5 | PASS |
| Ex-RGS 2024 within 100 kt of the 8.7 Mt press figureSupports the RGS reading of the 8.7 Mt figure | 8,612.7 | 8,700 | PASS |
| Goodwill + intangibles + PPE + leases close to EV in eurosPurchase accounting lines add up | 2,764 | 2,767 | PASS |
| Net cash impact close to price + leases€2,778M includes both | 2,767 | 2,778 | PASS |
| Clean Earth EBITDA ties to segment accountsNote 16 agrees with the press EBITDA, small adjustments aside | 155.1 | 158.1 | PASS |
| 9M revenue bridge adds upEvery revenue effect in the release was read correctly | 33,310 | 33,310 | PASS |
| 9M EBITDA bridge adds upEvery EBITDA effect in the release was read correctly | 5,403 | 5,404 | PASS |
| 9M revenue by business adds upThe business table was read correctly | 33,310 | 33,310 | PASS |
| Staff + D&A + dividend FY2024 matches brief 25 / 7 / 1-2The brief split is FY2024 | 0.341 | 0.340 | PASS |
| Model reproduces BofA DCF midpointSame flows and midpoints give the banker's answer within 5% | 3,054.6 | 2,987 | PASS |
Every input
210 of 210 inputs
| Item | Value | Source | Type |
|---|---|---|---|
| Hazardous waste processed, 2024 | URD 2025 p.226 | Filed by Veolia | |
| Hazardous waste processed, 2025 | URD 2025 p.226 | Filed by Veolia | |
| 2027 target as first filed | URD 2023 p.27 | Filed by Veolia | |
| 2027 target after RGS sale | URD 2024 p.25 | Filed by Veolia | |
| Months RGS was owned in 2024 | URD 2024 p.327 | Filed by Veolia | |
| Hazardous waste treated in 2024, press figure | Veolia press release, 31 Mar 2025 | Web source | |
| Treatment capacity added by 2025 tuck-ins | Veolia press release, 25 Jun 2025 | Web source | |
| Short ton to metric tonne | EPA Biennial Report 2023, epa_national.csv | EPA data | |
| Clean Earth, hazardous waste received | EPA Biennial Report 2023, epa_sites.csv | EPA data | |
| Clean Earth, of which storage or transfer (H141) | EPA Biennial Report 2023, epa_sites.csv | EPA data | |
| Clean Earth, shipped on | EPA Biennial Report 2023, epa_sites.csv | EPA data | |
| Clean Earth, shipped to third parties | EPA Biennial Report 2023, epa_ce_outbound.csv | EPA data | |
| Clean Earth, shipped to Veolia sites | EPA Biennial Report 2023, epa_ce_outbound.csv | EPA data | |
| Clean Earth, third-party shipments for incineration (H040) | EPA Biennial Report 2023, epa_ce_outbound.csv | EPA data | |
| of which to Veolia | EPA Biennial Report 2023, epa_ce_outbound.csv | EPA data | |
| Veolia US sites, received | EPA Biennial Report 2023, epa_sites.csv | EPA data | |
| Veolia US sites, of which storage or transfer (H141) | EPA Biennial Report 2023, epa_sites.csv | EPA data | |
| Veolia US sites, incineration received | EPA Biennial Report 2023, epa_sites.csv | EPA data | |
| Clean Harbors and Safety-Kleen, received | EPA Biennial Report 2023, epa_national.csv | EPA data | |
| Clean Harbors, incineration received | EPA Biennial Report 2023, epa_national.csv | EPA data | |
| US total received | EPA Biennial Report 2023, epa_national.csv | EPA data | |
| US incineration received | EPA Biennial Report 2023, epa_national.csv | EPA data | |
| EPA incineration capacity, 2024 baseline | EPA national capacity assessment, Jan 2025 | Web source | |
| Veolia US hazardous volume as it states it | Veolia GreenUp page: hazardous waste in the US | Web source | |
| Clean Earth waste recycled or reused, 2024 | Enviri 2024 ESG report | Web source | |
| Clean Earth recycle rate | Enviri 2024 ESG report | Web source | |
| Clean Earth hazardous waste recycled or reused, 2024 | Enviri 2024 ESG report | Web source | |
| Clean Earth revenue, 2025 | Enviri 10-K FY2025, Note 16, p.107 | Seller filing | |
| Clean Earth operating income, 2025 | Enviri 10-K FY2025, Note 16, p.107 | Seller filing | |
| Clean Earth depreciation, 2025 | Enviri 10-K FY2025, Note 16, p.107 | Seller filing | |
| Clean Earth amortisation, 2025 | Enviri 10-K FY2025, Note 16, p.107 | Seller filing | |
| Clean Earth capex, 2025 | Enviri 10-K FY2025, Note 16, p.107 | Seller filing | |
| Clean Earth total assets, 2025 | Enviri 10-K FY2025, Note 16, p.107 | Seller filing | |
| Clean Earth revenue, 2024 | Enviri 10-K FY2025, Note 16, p.108 | Seller filing | |
| Clean Earth capex, 2024 | Enviri 10-K FY2025, Note 16, p.108 | Seller filing | |
| Clean Earth depreciation, 2023 | Enviri 10-K FY2025, Note 16, p.108 | Seller filing | |
| Clean Earth adj. EBITDA, 2025 | Enviri Q4 2025 results tables | Web source | |
| Clean Earth adj. EBITDA, 2024 | Enviri Q4 2025 results tables | Web source | |
| Clean Earth goodwill impairment, 2022 | Harsco FY2022 earnings release, Feb 2023 | Web source | |
| Clean Earth adj. EBITDA, 2021 | Enviri FY2023 earnings presentation | Web source | |
| Clean Earth 2026e revenue, Veolia | Veolia Clean Earth investor presentation, 21 Nov 2025 | Web source | |
| Clean Earth 2026e EBITDA, Veolia | Veolia press release, 21 Nov 2025 | Web source | |
| Forecast revenue 2026 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast adj. EBITDA 2026 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast unlevered FCF 2026 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast revenue 2027 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast adj. EBITDA 2027 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast unlevered FCF 2027 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast revenue 2028 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast adj. EBITDA 2028 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast unlevered FCF 2028 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast revenue 2029 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast adj. EBITDA 2029 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast unlevered FCF 2029 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast revenue 2030 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast adj. EBITDA 2030 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Forecast unlevered FCF 2030 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Headline price | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Paid at closing | Amendment to URD 2025 p.46 | Filed by Veolia | |
| Paid at closing, euros | Amendment to URD 2025 p.46 | Filed by Veolia | |
| Leases taken on | Amendment to URD 2025 p.12 | Filed by Veolia | |
| Net cash impact | Amendment to URD 2025 p.12 | Filed by Veolia | |
| Preliminary goodwill | Amendment to URD 2025 p.53 | Filed by Veolia | |
| Other intangibles added | Amendment to URD 2025 p.54 | Filed by Veolia | |
| Tangible assets added (scope line) | Amendment to URD 2025 p.55 | Filed by Veolia | |
| Run-rate synergies | H1 2026 results slides p.15 | Filed by Veolia | |
| Cost to reach synergies | Veolia Clean Earth investor presentation, 21 Nov 2025 | Web source | |
| Synergies 2027 | Moody's credit opinion, 2 Dec 2025 | Web source | |
| Synergies 2028 | Moody's credit opinion, 2 Dec 2025 | Web source | |
| Synergies 2029 | Moody's credit opinion, 2 Dec 2025 | Web source | |
| Synergies 2030 | Moody's credit opinion, 2 Dec 2025 | Web source | |
| Published multiple, post-synergies | Veolia press release, 21 Nov 2025 | Web source | |
| BofA trading range, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA trading range, high | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA EBITDA-capex range, high | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA EBITDA-capex range, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA precedents range, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA precedents range, high | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA precedents multiple, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA DCF, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA DCF, high | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA DCF, midpoint | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Listed hazardous peer multiple | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Party A, first round | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Party A, final | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Veolia, first round | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Discount rate, North America goodwill test | URD 2025 p.399 | Filed by Veolia | |
| Perpetual growth, North America | URD 2025 p.399 | Filed by Veolia | |
| Discount rate, Water Technologies goodwill test | URD 2025 p.399 | Filed by Veolia | |
| Current income tax rate | Amendment to URD 2025 p.23 | Filed by Veolia | |
| Group financing rate | Amendment to URD 2025 p.23 | Filed by Veolia | |
| BofA discount rate, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA discount rate, high | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA growth, low | Enviri definitive proxy, pp.43-65 | Seller filing | |
| BofA growth, high | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Price of the 30% stake | URD 2025 p.350 | Filed by Veolia | |
| Minority net income, Water Technologies, 2024 | URD 2024 p.416 | Filed by Veolia | |
| Minority net income, Water Technologies, 2023 | URD 2024 p.416 | Filed by Veolia | |
| Hit to group equity | URD 2025 p.372 | Filed by Veolia | |
| Run-rate synergies by 2027 | URD 2025 p.372 | Filed by Veolia | |
| Synergies delivered, 2025 | URD 2025 p.345 | Filed by Veolia | |
| Synergies delivered, H1 2026 | H1 2026 results slides p.24 | Filed by Veolia | |
| One WaterTech integration cost, H1 2026 | Amendment to URD 2025 p.48 | Filed by Veolia | |
| Segment revenue, 2025 | URD 2025 p.342 | Filed by Veolia | |
| Segment EBITDA, 2025 | URD 2025 p.341 | Filed by Veolia | |
| Segment revenue, H1 2026 | H1 2026 results slides p.20 | Filed by Veolia | |
| Segment EBITDA, H1 2026 | Veolia press release, 7 May 2025 | Web source | |
| WTS EBITDA, FY2024 | Veolia press release, 7 May 2025 | Web source | |
| Published multiple, post-synergies | Veolia press release, 7 May 2025 | Web source | |
| Revenue, 2024 | URD 2025 p.360 | Filed by Veolia | |
| Revenue, 2025 | URD 2025 p.360 | Filed by Veolia | |
| Personnel costs, 2024 | URD 2025 p.391 | Filed by Veolia | |
| Personnel costs, 2025 | URD 2025 p.391 | Filed by Veolia | |
| Depreciation and amortisation, 2024 | URD 2025 p.381 | Filed by Veolia | |
| Depreciation and amortisation, 2025 | URD 2025 p.381 | Filed by Veolia | |
| Operating income, 2024 | URD 2025 p.360 | Filed by Veolia | |
| Operating income, 2025 | URD 2025 p.360 | Filed by Veolia | |
| Parent dividend paid, 2024 | URD 2025 p.365 | Filed by Veolia | |
| Parent dividend paid, 2025 | URD 2025 p.365 | Filed by Veolia | |
| Average employees, 2025 | URD 2025 p.391 | Filed by Veolia | |
| Clean Earth employees | Veolia press release, 21 Nov 2025 | Web source | |
| Group EBITDA, 2025 | URD 2025 p.341 | Filed by Veolia | |
| Net financial debt, Dec 2025 | URD 2025 p.334 | Filed by Veolia | |
| Net financial debt, June 2026 | H1 2026 results slides p.5 | Filed by Veolia | |
| 2026 organic EBITDA guidance, low | Amendment to URD 2025 p.29 | Filed by Veolia | |
| 2026 organic EBITDA guidance, high | Amendment to URD 2025 p.29 | Filed by Veolia | |
| Disposal plan | Amendment to URD 2025 p.29 | Filed by Veolia | |
| Current EBIT after tax, 2025 | URD 2025 p.352 | Filed by Veolia | |
| Represented capital employed, 2025 | URD 2025 p.352 | Filed by Veolia | |
| Scope 4 erased emissions, 2025 | URD 2025 p.213 | Filed by Veolia | |
| Scope 4 target, 2027 | URD 2025 p.214 | Filed by Veolia | |
| Forecast capex 2026 | Enviri definitive proxy, pp.43-65 | Seller filing | |
| Synergy delivery | Lever | Assumption | |
| Seller forecast delivery on EBITDA | Lever | Assumption | |
| Discount rate used | Lever | Assumption | |
| Terminal growth used | Lever | Assumption | |
| Share of synergy cost in 2027 | Lever | Assumption | |
| 2026 organic EBITDA growth | Lever | Assumption | |
| Share of RGS tonnes in the 2024 KPI | Lever | Assumption | |
| Stake bought | URD 2025 p.372 | Filed by Veolia | |
| New England Disposal Technologies, net price | URD 2025 p.350 | Filed by Veolia | |
| Bio-Med Innovations, net price | URD 2025 p.350 | Filed by Veolia | |
| Ingenium, net price | URD 2025 p.350 | Filed by Veolia | |
| Months of Clean Earth in FY2026 | Project briefing p.25 | Filed by Veolia | |
| Leverage commitment | Amendment to URD 2025 p.29 | Filed by Veolia | |
| EBITDA target 2027 | Project briefing p.20 | Filed by Veolia | |
| Water Technologies synergy delivery | Lever | Assumption | |
| Clean Earth injury rate (TRIR), 2024 | Enviri 2024 ESG report | Web source | |
| Clean Harbors injury rate (TRIR), 2025 | Clean Harbors FY2025 results (8-K) | Web source | |
| Clean Harbors Environmental Services EBITDA margin | Clean Harbors FY2025 results (8-K) | Web source | |
| Veolia hazardous waste revenue, 2025 | URD 2025 p.342 | Filed by Veolia | |
| Veolia hazardous waste EBITDA, 2025 | URD 2025 p.343 | Filed by Veolia | |
| Group net income to minorities, 2024 | URD 2024 p.416 | Filed by Veolia | |
| Abatement rate for hazardous waste treated, 2023 | URD 2023 p.214 | Filed by Veolia | |
| H1 2026 revenue growth at constant scope | H1 2026 results slides p.33 | Filed by Veolia | |
| Calvert City: civil penalty settled, 2025 | Enviri 10-K FY2025, Note 12, p.95 | Seller filing | |
| Calvert City: site project under the settlement | Enviri 10-K FY2025, Note 12, p.95 | Seller filing | |
| Group revenue, 9M 2026 | Veolia 9M 2026 press release p.1 | Filed by Veolia | |
| Group revenue, 9M 2025 | Veolia 9M 2026 press release p.1 | Filed by Veolia | |
| Group EBITDA, 9M 2026 | Veolia 9M 2026 press release p.1 | Filed by Veolia | |
| Group EBITDA, 9M 2025 | Veolia 9M 2026 press release p.1 | Filed by Veolia | |
| Current EBIT, 9M 2026 | Veolia 9M 2026 press release p.1 | Filed by Veolia | |
| Organic EBITDA growth, 9M 2026 | Veolia 9M 2026 press release p.2 | Filed by Veolia | |
| Water revenue, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Waste revenue, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Energy revenue, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Hazardous Waste revenue, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Hazardous Waste revenue, 9M 2025 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Hazardous Waste organic growth, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Hazardous Waste growth with tuck-ins, excluding Clean Earth | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Hazardous Waste Europe revenue, 9M 2026 | Veolia 9M 2026 press release p.7 | Filed by Veolia | |
| Capex on hazardous waste treatment projects, 9M 2026 | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Water Technologies revenue, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Water Technologies revenue, 9M 2025 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Water Technologies growth at constant scope, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Water Technologies growth excluding Projects, 9M 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Water Technologies growth, Q3 2026 | Veolia 9M 2026 press release p.8 | Filed by Veolia | |
| Microelectronics bookings, year to date | Veolia 9M 2026 press release p.4 | Filed by Veolia | |
| Water Technologies synergies, 9M 2026 | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Net financial debt, September 2026 | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Perimeter effect on revenue, 9M 2026 | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Perimeter effect on EBITDA, 9M 2026 | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Currency effect on revenue | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Commodity price effect on revenue | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Climate effect on revenue | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Pricing and Commerce effect on revenue | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Currency impact on EBITDA | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Commodity impact on EBITDA | Veolia 9M 2026 press release p.9 | Filed by Veolia | |
| Climate impact on EBITDA | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Growth and Performance on EBITDA | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Disposals already signed | Veolia 9M 2026 press release p.2 | Filed by Veolia | |
| Multiple on signed disposals, 2025 EBITDA | Veolia 9M 2026 press release p.2 | Filed by Veolia | |
| Clean Earth cash out in the 9M net debt bridge | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Clean Earth people, per the 9M release | Veolia 9M 2026 press release p.3 | Filed by Veolia | |
| Net free cash flow, 9M 2026 | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Financial investments net of disposals | Veolia 9M 2026 press release p.10 | Filed by Veolia | |
| Dividends paid | Veolia 9M 2026 press release p.11 | Filed by Veolia | |
| Hybrid debt repaid | Veolia 9M 2026 press release p.11 | Filed by Veolia | |
| Employee share plan, net | Veolia 9M 2026 press release p.11 | Filed by Veolia | |
| Capital reduction, treasury shares | Veolia 9M 2026 press release p.11 | Filed by Veolia | |
| Exchange rate and fair value effect on debt | Veolia 9M 2026 press release p.11 | Filed by Veolia | |
| Quarters left to the end of 2027 | Lever | Assumption | |
| Chameleon Industries, net price (outside the brief) | URD 2025 p.350 | Filed by Veolia | |
| Ingenium staff, estimate | Waste Dive: Ingenium, medical waste, VNA leadership, Jun 2025 | Web source | |
| Ingenium vehicles, estimate | Waste Dive: Ingenium, medical waste, VNA leadership, Jun 2025 | Web source | |
| Ingenium 10-day transfer stations | Waste Dive: Ingenium, medical waste, VNA leadership, Jun 2025 | Web source | |
| Ingenium revenue, 2021 | San Diego Business Journal: Ingenium absorbed in global expansion | Web source | |
| New England Disposal Technologies vehicles, estimate | Waste Dive: Ingenium, medical waste, VNA leadership, Jun 2025 | Web source | |
| New England MedWaste autoclave capacity, tons a day | Waste Dive: Ingenium, medical waste, VNA leadership, Jun 2025 | Web source | |
| Tuck-in multiple stated by Veolia | Veolia FY 2025 results presentation | Web source |
Glossary
- KPI
- A number a company tracks against a target.
- URD
- Universal Registration Document: Veolia’s yearly filing with the French regulator.
- Like-for-like
- Comparing the same perimeter each year, without what was bought or sold.
- RGS
- Veolia North America Regeneration Services: sulfuric and hydrofluoric acid regeneration for US refineries, sold on 1 August 2024.
- Storage or transfer (H141)
- The EPA code for waste held or moved on, not treated.
- Abatement rate
- A rate Veolia published until URD 2023 for hazardous waste treated. It measures outcome, not volume.
- EBITDA
- Operating profit before interest, tax, depreciation and amortisation.
- Multiple
- Price divided by EBITDA.
- Enterprise value
- The price of a business including its debt and leases.
- Goodwill
- The part of a price not explained by identifiable assets.
- NPV
- Future cash in today’s money, less the price.
- Discount rate
- The yearly return investors need for waiting and for risk.
- Terminal value
- Value of all years after the forecast ends.
- ROCE
- After-tax profit divided by the capital used.
- Value added
- Operating income plus staff cost plus depreciation and amortisation.
- TRIR
- Recordable injuries per 200,000 hours worked.