Cash flow can be estimated by the financial measurement known as EBITDA. EBITDA is used as a rule of thumb for cash flow. It stands for earnings before interest, taxes, depreciation and amortization. Essentially, it estimates cash flow by trying to add back all non-cash expenses to a firm s net income. However, since it doesn t take into account capital expenditures or changes in net working capital, it should be used only as an estimate and works best with companies that are in a steady-state.