Equity valuation uses free cash flows to the firm discounted by the cost of equity free cash flows to the firm discounted by the weighted average cost of capital free cash flows to equity holders discounted by the cost of equity free cash flows to equity holders discounted by the weighted average cost of capital free cash flows to equity holders discounted by the cost of debt Equity valuation uses free cash flows to the firm discounted by the cost of equity free cash flows to the firm discounted by the weighted average cost of capital free cash flows to equity holders discounted by the cost of equity free cash flows to equity holders discounted by the weighted average cost of capital free cash flows to equity holders discounted by the cost of debt