Chat with us, powered by LiveChat v Sheet1 Complete the following cells in ligh blue color. Table 7 - Writeedu

v Sheet1 Complete the following cells in ligh blue color. Table 7

v

Sheet1

Complete the following cells in ligh blue color.
Table 7
RELATIVE VALUATION METRICS (MULTIPLES) FOR SCHUMACHER AND TWO COMPETITORS
  P/B P/E P/S EV/EBITDA
  Based on stock price of $34.35 on 12/31/2013
Schumacher       6.97
Competitor 1 2.62 16.2 0.9 6.85
Competitor 2 2.58 15.5 1.02 8.39
  Based on the offer price of $50
Schumacher       10.79
Table 8
VALUATION OF THE ENTERPRISE DISCOUNTED CASH FLOW (EDCF) MODEL
t Forecast year FCF* or CV* Discount factor Present value*
1 2014   0.9217
2 2015   0.8496
3 2016   0.7831
4 2017   0.7218
5 2018   0.6654
6 2019   0.6133
7 2020   0.5653
8 2021   0.5211
9 2022   0.4803
10 2023   0.4427
10 Continuing value* (CV)   0.4427
= Value of operations (sum of present value of cash flows)*
+ Value of nonoperating assets*
= Enterprise value*
Value of debt*
= Value of common equity*
÷ Number of shares outstanding*
= Intrinsic value per share
* In millions
Table 9
VALUATION OF THE DISCOUNTED ECONOMIC PROFIT (DEP) MODEL
t Forecast Year Invested ROIC Economic profit* Discount Present value*
    capital*   or CV* factor
1 2014       0.9217
2 2015       0.8496
3 2016       0.7831
4 2017       0.7218
5 2018       0.6654
6 2019       0.6133
7 2020       0.5653
8 2021       0.5211
9 2022       0.4803
10 2023       0.4427
10 Continuing value* (CV)       0.4427
  Present value of economic profit*
+ Invested capital in 2013*
= Value of operations*
+ Value of nonoperating assets*
= Enterprise value*
Value of debt*
= Value of common equity*
÷ Number of shares outstanding*
= Intrinsic value per share
* In millions
Table 10
VALUATION OF THE ADJUSTED PRESENT VALUE (APV) MODEL
t Forecast Year Free cash flow (FCF)* Interest tax Discount factor Present value of FCF* Present value of ITS*
      shields (ITS)*
1 2014     0.9203
2 2015     0.847
3 2016     0.7795
4 2017     0.7173
5 2018     0.6602
6 2019     0.6075
7 2020     0.5591
8 2021     0.5146
9 2022     0.4736
10 2023     0.4358
10 Continuing value* (CV)     0.4358  
= Value of operations* (sum of PV of FCF and PV of ITS)
+ Value of nonoperating assets*          
= Enterprise value*          
Value of debt*          
= Value of common equity*          
÷ Number of shares outstanding*          
= Intrinsic value per share
* In millions

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