Net Operating Profit After Tax

EVA ( Economic Value Added ) is the balance found by deducting the cost of capital from the net operating profit after tax ( NOPAT ) .

EVA是经过调整后的税后经营净利润扣除全部资金成本后的余额。

However , the calculation formula of EVA may also lead to the managers ' short-term behavior , and blindly reduce the scale of investment , rather than by increasing the net operating profit after tax to increase EVA .

但是，根据理论分析，经济增加值指标还有可能会导致企业经营者的短期化行为，一味缩小投资规模，而不通过提高税后净营业利润来提高经济增加值。

Free cash flow equals the difference between net operating profit after tax and net investment .

自由现金流量等于扣除调整税的净营业利润与净投资之差。

Economic Value Added ( EVA ) is economic profit that is Net Operating Profit After Tax deducted Weighted Average Capital Cost ( include equity and debt capital cost ) .

经济增加值EVA指企业税后净经营收益扣除包括股权和债务的加权资本成本后的经济利润。