Net Income to NOPAT Reconciliation

The basic adjustments we make to convert Net Income to NOPAT.

GAAP Net Income

+ Total Net Non-Operating Expense Hidden in Operating Earnings

+ Reported Net Non-Operating Expense

+ Change in Total Reserves

+ Goodwill Amortization

- ESO Expense (Employee Stock Options)

+ Interest for PV of Operating Leases

+ Non-Operating Tax Adjustments

+ Net After-Tax Non-Operating Expense/Income

= NOPAT (Net Operating Profit After Tax)

General Information
Backtest Sample
Backtest Documentation
API Documentation

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