Fi512 Dcf Valuation Assignment

  • Valuation

    or implied, is made as to their accuracy, completeness or correctness. For more information about this sample and our other services, please write to Tuesday, September 13, 2011 Description Summary Latest Result Valuation Matrix ROE Analysis Income Statement Balance Sheet Cashflow Statement Quarterly Result Growth Analysis Comparative Analysis Income Statement Balance Sheet Index Analysis Income Statement Balance Sheet Ratio Analysis Annual Quarterly TTM Analysis

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  • Nibc Valuation Memo

    NIBC Valuation Memo Analysis of valuation methodologies Comparable company analysis compares trading and operating performance of the Wynn Resort to its peers. We used this valuation method to determine how the market has valued the earnings and cash flows of similar companies and allow us to analyze other parameters such as book value, leverage and margins. The main benefit of this valuation methodology is that market efficiency ensures that the trading multiples are similar for companies

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  • Business Valuation

    Phi (φ), Gamma (γ) and Ohlson’s Weighting k INTRODUCTION The purpose of this exercise is to explore empirically the estimation of Phi (φ), Gamma (γ) and Ohlson’s weighting k. The three parameters are critical in applying the Ohson style valuation models. Part of the exercise you will develop a spreadsheet to perform your analysis. This template can then be added to your master analysis template as an “Estimation of Ohlson Model Parameters” module. NOTE: This workshop requires you to

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  • Valuation

    AMITY INTERNATIONAL BUSINESS SCHOOL ANALYSIS AND VALUATION OF EQUITY SECURITIES OF TATA CONSULTANCY SERVICES , INFOSYS AND WIPRO LTD. SUBMITTED TO: SUBMITTED BY : Ms.Vibha Singh Atreya Vyas A1802011445 Section C MBA IB TABLE OF CONTENTS S.No | Topic | Page Number | 1 | Introduction | 3 | 2 | Research Methodolgy | 4 | 2.1 | Research Objectives

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  • Company Valuation

    Executive Summary The primary purpose of this paper is to examine the various valuation factors that affect the financial performance of a particular company. This paper also includes research which involves a current literature review about the possible causes of both positive and negative outcomes of a company’s financial performance. The methodology used is qualitative research. The major findings entail that the nature of the business and its history is the greatest factor that most likely

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  • Pacsun Valuation Paper

    Pacific Sunwear, Inc. – Valuation Analysis Valuation Method | Weight | Implied Value | Relative Valuation | 30% | $2.69; Range of $2.04 - $3.06 | Regression | 35% | $2.30; Range of $2.10 - $2.50 | Discounted Cash Flow | 15% | $2.37; Range of $1.92 - $3.18 | Precedent Transaction Analysis | 20% | $2.30; Range of $1.47 - $3.66 | | Value Range | $1.47 - $3.66 | | Estimated Price | $2.43 | | Market Price (04/19/13) | $2.40 | | Conclusion | Slightly Undervalued* | | Recommendation

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  • Valuation

    Bank Valuation: Comparable Public Companies & Precedent Transactions Picking a set of comparable companies or precedent transactions for a bank is very similar to what you’d do for any other company – here are the differences: 1. The set has to be more specific due to differing regulatory requirements for different countries and types of banks. For example, if you’re looking at large-cap commercial banks in the US, you should not include regional banks or insurance companies even if they’re also

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  • Valuation

    Identified/Observed in the Organization b. Academic Preparation (Mismatch between assigned tasks and other operational functions of the organization with your academic preparation/major. Relevance of the academic preparation /major to the present assignment and future job requirements of the organization) c. Any missing knowledge and skills that need to be learned in the university which are relevant to the company or to oneself as future professional. V – LESSONS LEARNED FROM THE INTERNSHIP

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  • Leadership in Valuation

    “MEMENANGKAN MOMENTUM GLOBAL”. Para pakar PENILAI/VALUER dunia mendukung hal ini: Aswath Damodaran (“DAMODARAN in VALUATION”) maupun McKINSEY (“VALUATION METHODOLOGY”) yang SEBELUMNYA mengajukan berbagai teori teknis Penilaian Korporasi seperti DCF (Discounted Cash Flow Valuation), EVA (Economic Value Added), RV (Relative Valuation), dan OV (Option Valuation), saat ini melihat “Intangible Asset Valuation” sebagai unsure sangat penting dalam valuasinya,yang mencakup INOVASI, yang tentu saja berdasar pada

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  • Valuation

    Valuation Valuation is the process and procedures used to determine the current worth of a company. Valuation is used in deciding if a company is worth investing in , what price you should pay when buying a company and even financial and dividend choices when running a company . Some elements of a valuation are Economic conditions, financial analysis, and financial statements. When a financial analysts need to value a business, they often start by identifying a sample of similar

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  • Needle.Com Valuation

    accessing the retail company’s websites. One way that Needle finds these representatives is by utilizing its Facebook page, inviting adherents of a particular product and promising pay between $8 to $12 and free samples of the newest merchandise. Valuation (Basic analysis of how much this company is worth) Needle has received two equity rounds of funding. In February of 2011 the company received 2 million dollars in Series A funding from Lightbank . In July of 2012, Needle received another round

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  • Pe Valuation

    Applied Finance Centre Assignment Cover Sheet Unit Code: Lecturer’s Name Assignment Title: Student’s Name: Student Number: Due Date: ECFS895 Unit Name: Private Equity Study Centre: AFC Stephane Chatonsky Private Equity Case Study Manuel Hernandez 43009492 4 September, 2012 th Date Submitted: 4 , September, 2012 th ACADEMIC HONESTY DECLARATION (this is very important please read carefully): By placing my name in this document I declare that:           This

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  • Aapl Valuation

    FBE-529 FINANCIAL ANALYSIS AND VALUATION Final Valuation Project Apple Inc. (AAPL) Jeffrey Bullock Zefu Chen Xiangyu Shi Xuezhou Xiao 4/24/2012 Company Analysis Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players, and sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include the iPhone

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  • Valuation

    stock splits, and thus, an original lot of 100 Wal-Mart shares had grown to 204,800 shares after the most recent split in April 1999. For this valuation we will be using the dividend discount model, the capital asset pricing model (CAPM) and price/earnings multiples. Dividend Discount Model (DDM) In discounted cash flow (DCF) valuation techniques the value of the stock is estimated based upon present value of some measure of cash flow. Dividends are the cleanest and most straightforward

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  • Valuations

    Valuation Assumptions The models used to value the target firm SkyWest will include: I. Residual Earnings Model (REM) II. Abnormal Growth Model (AGM) III. Dividend Discount Model ((DDM) IV. Discounted Cash Flow Model (DCF) V. Method of Comparables These models have been based on some fundamental assumptions. These assumptions can be found in Appendix 1.1. I. Residual Earning Model The REM splits the intrinsic value of a company into two components; the book value and the present value

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  • Valuation

    VALUATION TECHNIQUES Vault Guide to Finance Interviews Valuation Techniques How Much is it Worth? Imagine yourself as the CEO of a publicly traded company that makes widgets. You’ve had a highly successful business so far and want to sell the company to anyone interested in buying it. How do you know how much to sell it for? Likewise, consider the Bank of America acquisition of Fleet. How did B of A decide how much it should pay to buy Fleet? For starters, you should understand that the value

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  • Valuation

    BUSINESS VALUATION METHODS (All Valuations MUST BE based on Historical Data) I. Adjusted Book Value Take the Book Value of net worth -assets not acquired +liabilities not assumed +fair market value of assets acquired +any net worth adjustments =Adjusted Book Value ____________________________________________________________ II. Capitalized Adjusted Earnings First Step: Adjust Historical Earnings Seller’s Discretionary Cash Flow Net Profit +Officer’s salary +Discretionary expenses -New Owner salary

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  • Apach Valuation

    25. The holding period return would be 18.37%(including dividend). Apache is a large multinational corporation, engaged in the energy industry. In addition, the company is very active in the acquisition market. ◇Valuation. In this report, the main method I used to value the company is DCF model with reasonably estimated data based on the company’s historical performance. ◇Main growth driver: (1) the increasing needs of oil and gas.(2) exploitation and extension of existing producing fields.(3) acquisition

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  • Valuation Analysis

    Session 2 Comparator Analysis “Comps” An opinion of value • A valuation is a well-founded opinion of value. It should be based on market evidence, but it is not a market result itself. • In some cases, the asset is not traded in an active market or exchange. e.g., privately held companies, real estate. Here, the concept of value may be different, depending on the type of valuation. (e.g., valuation for tax vs valuation for listing) • In other cases, the asset is traded in an active market

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  • Forecasting Valuation Black & Decker

    Publicly Traded Equity Securities: The Black & Decker Corporation (BDK) [1] I. Introduction This teaching note describes the valuation of publicly traded equity securities using the Discounted Cash Flow (DCF) and Price/Characteristic (market comparison) approaches, with a specific spreadsheet example for The Black and Decker Corporation. Free cash flow valuation and comparables (comps) are key tools in fundamental analysis, the process of picking stocks with high expected return based on an

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  • Dcf-Valuation

    © Quick tips to answer the Personal Interview questions ! ! ! As you go for a personal interview, always expect the question "Tell us something about yourself". Go prepared to answer it. Understand the requirements of the role properly and keep your answer ready for "Why does this role interest you?" To judge your stability in the personal interview, the interviewer might ask a direct question like "Why do you think should we take you?" Go prepared to answer it. Prepare

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  • Accounting-Based Valuation Techniques

    FINANCIAL INFORMATION ANALYSIS ACCOUNTING-BASED VALUATION TECHNIQUES Application Exercises Question 2 Construct a two-period numerical example to show that the accounting-based valuation of a firm is the same whether R&D is capitalized or expensed. ACCOUNTING-BASED VALUATION TECHNIQUES Application Exercises Question 2 Consider R&D Inc., a biotech start up. This firm: • Incurs expenditures in R&D of $50 in the first year of activity; • Has an opening book value of equity of

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  • Dcf Discounted Cash Flow Valuation: Basics Aswath Damodaran

    Discounted Cash Flow Valuation: Basics Aswath Damodaran Aswath Damodaran 1 Discounted Cashflow Valuation: Basis for Approach t = n CF t Value = ∑ t t = 1( 1 +r) where CFt is the cash flow in period t, r is the discount rate appropriate given the riskiness of the cash flow and t is the life of the asset. Proposition 1: For an asset to have value, the expected cash flows have to be positive some time over the life of the asset. Proposition 2: Assets that generate cash flows early in

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  • Valuation Example

    Group Member Submitting this Assignment: Team Member Name Participated in Mtgs. Submitted Assignment Explanations: Trevor Thompson x x Breanne Wines x Landon Cooley x Roselle Baum x Brittany Hoehn x MyStory Valuation Valuation of MyStory I Trevor B. Thompson being of sound mind and body do hereby attempt to construct a report for the valuation of MyStory. The valuation will be based on three Valuation approaches as featured in my BYU-I 383 course work: 1. An Income

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  • Amd Valuation

    three methods I used to evaluate AMD and all related assumptions to support these methods. After all, I’ll conclude a price I would like to pay to acquire and control AMD on Mar-31-2013. Please read it of more. This is Gong Chen’s final project of Valuation Model and Practice for summer 2013. Hope you enjoy it! Company Overview 1. Background Founded in 1969 and headquartered in Sunnyvale, California, Advanced Micro Devices (AMD) operates as a semiconductor company worldwide. It operates in two

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  • Valuation

    Aswath Damodaran 1 VALUATION   Cynic:  A  person  who  knows  the  price  of  everything  but  the  value  of  nothing..   Oscar  Wilde   First  Principles   2 Maximize the value of the business (firm) The Investment Decision Invest in assets that earn a return greater than the minimum acceptable hurdle rate The Financing Decision Find the right kind of debt for your firm and the right mix of debt and equity to

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  • Gii Dcf Valuation

    LEARNING OUTCOMES LEARNING OUTCOMES Program: Master in Wealth Management Professor: Georges Hübner Title of course: Personal Portfolio Management  ECTS Credits (teaching days): 3 Learning Objectives: * Consider the client from the point of view of his/her preferences for risk and return * Determine the risk and return of various asset classes and explain where the risk premium comes from * Understand and master the notion of risk factors and how they explain portfolio returns

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  • Valuation

    The company is a listed company and its shares are traded in the capital market. We have collected the annual reports of last couple of years and from the data we have prepared the proforma income statement, free cash flow and then ultimately the valuation of the company’s share. We have shown the market strategy of the company. They prefer differentiation that is high price for high quality. The industry life cycle indicates that Cement industry is in its growth stage. We have shown the competitive

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  • Valuation

    for the leveraged buyout (LBO). Some of the main differences between their case and ours are: • How to calculate the price for the LBO o They chose to use EBITDA o After reading various articles on LBOs we feel net present value (NPV) is a better valuation tool 3 • Focus on various financial ratios o They calculated 22 different financial ratios that were not fully analyzed and they unfairly compared Seagate to the industry (Seagate is vertically integrated making it a different entity) o We

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  • Under Armour Dcf

    Ben Northrop Investments Step 3: Company Valuation Comparables: Comparables | P/E | P/S | P/B | Stock Price | Under Armour | 71.60 | 5.03 | 11.81 | 70.00 | Jarden | 62.29 | 1.58 | 3.3 | 66.78 | Finish Line | 16.26 | 0.68 | 2.01 | 28.45 | I have chosen Jarden and Finish Line as companies to compare to Under Armour as the industry average. I believe that these companies will be good choices because they provide similar products in the Athletic Apparel and Shoe industry. As a whole

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  • Fin 419 Week 3 Team Assignment Capital Valuation Paper

    FIN 419 Week 3 Team Assignment Capital Valuation Paper Get Tutorial by Clicking on the link below or Copy Paste Link in Your Browser For More Courses and Exams use this form ( ) Feel Free to Search your Class through Our Product Categories or From Our Search Bar ( ) Week 3: Capital Valuation Paper – Wal-Mart The market price of an asset is the

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  • Relative Valuation

    3/14/2014 1 RELATIVE VALUATION Introduction 2      The majority of equity research reports are based on multiples Most analysts use relative valuation because it is safer It is a short term strategy Forward multiples are better then historical ones because the price is related to expected cash flow Relative valuations usually means that you need to: 1. 2. 3. Come up with comparable companies Standardize by dividing by something common to all stocks Compare

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  • Stock Valuation on Pepsi

    comparative to their up to date market prices, from their valuation multiples and to conclude with the rate the investment prospective of every stock. In this research paper, I as an investment analyst will inspect Pepsi company’s analyst predilections across stocks, and estimate the sources of the investment worth presented by analyst stock recommendations and its changes for the particular company. II. What is Stock Valuation Stock valuation is a method of estimating the average intrinsic value of

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  • Valuation

    to offer firms a short cut to their strategic objectives, but the process has its costs. In this chapter, we examine the four basic steps in an acquisition, starting with establishing an acquisition motive, continuing with the identification and valuation of a target firm, and following up with structuring and paying for the deal. The final, and often the most difficult, step is making the acquisition work after the deal is consummated. Background on Acquisitions When we talk about acquisitions or

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  • Dcf Tutorial

    through a feedback mechanism. To test our existing constructs with new potentially better ones. It is with this in mind that we explore the classic or naive discounted cash flow modelling techniques. 1 Introduction The essential steps for a DCF are: 1. Gather information: Use historic Income, Balance Sheet & Cash Flow Statements to calculate ‘earnings’, ‘cash flows’ or any other variable you’re trying to obtain data for, 2. Generate Forecast Assumptions: based on our historical observations

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  • Dcf Analysis

    DCF analysis The value of a company today, based on how much money it’s going to make in the future Dividend discount model (DDM) Free cash flow to equity – determine the fair value of companies One must consider * Future sales growth, profit margins * Discount rate – depends on a risk-free interest rate 1. Forecast period & forecasting revenue growth * How far we should project cash flows * Excessive return period * One can guess based on the company’s competitive

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  • Sovran Self Storage Valuation

    8x Institutional Holdings 94.15% Insider Holdings 2.55% Valuation DCF Multiples Estimated Price $95.02 $94.96 Weights 50.0% 50.0% Target Price $95.00 Target Price is rounded from $94.99 to $95.00 SSS Diluted FFO per Share 3.72 SSS per Share Recommendation: HOLD Target Price: $95.00 USD 3.98 3.14 2.36 2.45 2.43 2009 2010 2011 2012 2013 2014 TTM *FFO – Funds from Operations Valuation - Valuation methods indicate a current intrinsic value of $95 per share. SSS

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  • Valuation

    discount rate, and your valuation model. 
(Hint: pay attention to the Working Capital Assumptions provided in Ex 1. For example, Accounts Receivable 41.67× means on average it takes 41.67 days to receive payment from customers. ) According to Jennifer Zhang’s analysis, we divide the stand-alone value of AirThread into two parts—operating value and non-operating value-- and then add the two parts together to get the result. First, when we calculate the operating value, we use the DCF model. We pick the

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  • Blmn Valuation

    2015 (as of 12/19/2014) (11.85% Upside) Highlights We issue a BUY recommendation on Bloomin’ Brands, Inc. (BLMN) with a price target of $26.28. Using a blend of the discounted cash flow model and a forward Price to Earnings multiple, the valuation offers an 11.85% upside from the December 19th, 2014 closing price of $23.50. Bloomin’ Brands’ upside strength results from superior sales growth, margin improvements, and strong growth in operating cash flow. Additionally, significant brand recognition

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  • Valuation

    | | | | The results from the breakeven EBIT analysis are calculated to current market conditions. The market has equities; in particular, California Pizza priced its prices at very high valuations. This is exhibited by California Pizza’s price/earnings ratio of 31.9. Because of this lofty valuation, if California Pizza is going to repurchase shares at the current market price of $22.10, it will be costly to investors. It will be especially expensive to investors to buy back shares if California

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  • Dcf Solution

    1. DCF Year sales COGS SGA D EBIT EBIT after tax D CAPEX Inventory A/R A/p NWC change in NWC FCF TV DFCF EV 95.55 0 55.3 37.9 12.3 2.1 3.0 2.2 2.1 2.3 18.0 6.6 1.2 23.4 2 57.5 37.4 9.8 1.8 8.6 6.2 1.8 2.4 3 58.7 38.1 10.0 1.8 8.7 6.3 1.8 2.5 4 59.9 38.9 10.2 1.9 8.9 6.4 1.9 2.5 22.6 -0.8 6.3 23.0 0.5 5.1 23.5 0.5 5.2 5.9 1.9 1 56.4 36.7 9.6 1.7 8.4 6.1 1.7 2.4 5.1 5.2 23.9 0.5 5.3 122.7

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  • Valuation of Equities and Firms

    VALUATION Outline Page Valuation overview 1 DCF valuation 7 47 Comparable transactions analysis 59 LBO analysis 68 Appendix VALUATI O N Comparable companies analysis 74 VAIDYA NATHAN 1 Overview “Price is what you pay. Value is what you get” VALUATI O N O V E R VI EW Value ! Price Do not confuse Price and Value. They are not the same If the Price paid is less than the Value derived, it’s a good investment VAIDYA NATHAN

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  • Capm Dcf

    Returns: CAPM vs. DCF Kalen Hickey American Military University The Capital Asset Pricing Model (CAPM) and Discounted Cash Flows Method are different techniques for determining returns on an investment. These concepts deal with the time value of money and the other investment factors. “If decisions are made that ignore the interaction of scale and risk, then cash flows are misvalued and suboptimal operations decisions are made” (Lederer & Mehta). Companies use CAPM and DCF to figure out

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  • Dcf Errors

    Michael J. Mauboussin Common Errors in DCF Models Do You Use Economically Sound and Transparent Models? Discounted cash flow analysis is the most accurate and flexible method for valuing projects, divisions, and companies. Any analysis, however, is only as accurate as the forecasts it relies on. Errors in estimating the key ingredients of corporate value . . . can lead to mistakes in valuation. Tim Koller, Marc Goedhart, and David Wessels Valuation: Measuring and Managing the Value of Companies

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  • Valuation

    Valuation M&A involves using more than one valuation technique to arrive at a valuation that we think is fair. The most common techniques used are: ➢ Comparable Publicly traded companies (“Public Comps”) – this analysis indicates how the stock markets are valuing companies that are similar to the target ➢ Precedent Comparable Transaction analysis (“Transaction Comps”) – this analysis indicates the valuations at which prior M&A transactions have been done in the same industry as that

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  • Commercial & Investment Valuation Methods

    5 7 Valuation and Calculation of Worth A discussion of the role of the valuer and the distinction between valuation, appraisal and calculation of worth. Introduction Valuation and Calculation of Worth Pricing Models-Valuation 9 9 9 10 Appraisal Mathematics A study of present value theory, net present value and internal rate of return. Introduction Net Present Value (NPV) Internal Rate of Return (IRR) 11 The Valuation of Rack-rented Property A comparison of DCF and conventional

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  • Fi512 Dcf Valuation Assignment

    1. [DCF Valuation and Ownership Concepts] The venture investors and founders of ACE Products, a closely held corporation, are contemplating merging the successful venture into a much larger diversified firm that operates in the same industry. ACE estimates its free cash flows that will be available to the enterprise next year at $5,200,000. Since the venture is now in its maturity stage, ACE’s free cash flows are expected to continue to grow at a 6 percent annual compound growth rate in the future

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  • Qantas Valuation

    equity, market risk premium and company beta, which were determined from economic forecasts and market observation. The intrinsic value of Qantas is valued at $1.79 per share. Following an analysis of the airline industry and detailed DCF and comparables valuations, this report does not recommend the inclusion of Qantas in a diversified portfolio. Considering the uncertainty surrounding the strategic direction of the company and the increasingly competitive environment in which it operates, the difference

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  • Dcf Theory

    DCF теория (статья написана для D')  В соответствии с DCF (модель дисконтированных денежных потоках), справедливая стоимость компании равна всем денежным средствам, которые эта компания сгенерирует за все время своего существования. Эти денежные средства называются денежным потоком. Но мало знать, какой будет денежный поток. Дело в том, что 100 рублей, получаемые через год, для инвестора не равны 100 рублям, которые у него есть сейчас.  Ведь разумный человек, имея эту сумму, может положить

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  • Valuation of Startup Companies

    The valuation of a business is a critical element that depending on the accuracy of the valuation can be the difference between large positive returns or devastating losses for investors. The importance of valuation is why differing methods are always being debated and analyzed. The valuation of traditional companies with historical data and comparative industry examples can be a bit confusing for the average person but with practice they really are not overly complicated. The discounted cash

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