NOPLAT (Net Operating Profits Less Adjusted Taxes): represents the profits generated from a company's core operations after subtracting the income taxes related to the core operations. NOPLAT is often used as an input in creating discounted cash flow valuation models.
For Example:
1. FCF (free cash flow) = NOPLAT - Net Investment
2. ROIC (return on invested capital) = NOPLAT / Invested Capital