an equity research analyst for cable stocks‚ believes that the best way to value cable stocks is through creative methods such as real options and not through more traditional or typical valuation methods such as EBITDA multiples‚ ROIC analysis and DCF analysis. In 1999 she presented at the Credit Suisse First Boston Broadband conference‚ where she wanted to portray the message that real options is a superior valuation technique for cable stocks. She also wanted to have the opportunity to demonstrate
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Boom predicted in Indian beer market One of the world’s largest breweries plans to invest $100m (£70m) in the Indian beer market in the next five years. South African Breweries (SAB)‚ the world’s fifth largest brewer‚ aims to increase its share of the Indian market from 4% to 25%. SAB says it expects the Indian market‚ currently selling 72 million cases of beer a year‚ to treble in size in the next 10 years. A shift in drinking preferences from spirits to beer‚ and also some relaxation in
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What are the details need to be updated in the UBS system when I have created a new company in the UBS system? Step 1: double click to UBS system and u will enter into the ‘Select Company’ page. Step 2: Click ‘ADD’ to create a new company and a new directory for the company. Step 3: After finish creating the new company‚ click ‘cancel’ and double click on the new company name. Step 4: After double click from the company name‚ a ‘Housekeeping’ frame will come out indicating and u need to generate
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(HBS Press‚ 1999) by Martha Amram and Nalin Kulatilaka Glaze Creek Partners Page 2 May‚ 1999 A Step-by-Step Example PORTLANDIA ALE: ❒ Two brewmasters and a dream ❒ Their business plan is straight DCF ❒ The reality is that firm has options ❒ Let’s calculate the expanded value of the firm: V = DCF + option value Glaze Creek Partners © HBS Press‚ 1999. From Chapter 10‚ Real Options: Managing Strategic Investment in an Uncertain World Page 3 May‚ 1999 Portlandia Ale’s Business Plan Fixed Cash
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Since the case didn’t provide us with the financial statements for Monmouth‚ we can assume that in order to complete the acquisition they have to issue stocks as they exhausted (or will pretty soon exhaust) their debt capacity. 2. Based on the DCF valuation and using a WACC of 8.25% (the beta assumed to be 1‚ the average beta of comparable firms and the coupon rate to be 7.96%‚ the rate for BB rated companies) and a growth rate of 5.5%. The fair price is $40.4 per share for Robertson‚ lower than
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TERMINATION OF PARENTAL RIGHTS AND ADOPTION PROCEDURES The Probate Courts of Connecticut Probate Court Administrator 186 Newington Road West Hartford‚ CT 06110 Compliments of your probate court: INTRODUCTION Among the laws within the jurisdiction of Connecticut Probate Courts are those dealing with adoptions and the termination of parental rights. This brochure was designed to explain the basic aspects of a complex body of laws with which most people are not familiar. It is not
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IPO. Some of the options available to the management and lead underwriter are listed below. • Using Discounted Cash Flow (DCF) Analysis • Using valuation multiples • Pricing the issue below or above the current IPO price range. III. ANALYSIS OF ALTERNATIVES DCF Analysis JetBlue Airways can use a discounted cash flow (DCF) analysis to price its IPO. This is a valuation approach used to value firms. The best approach will be to use the financial forecast
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Executive Summary From our DCF calculations‚ the value of Torrington as a stand-alone entity is $1.181 billion. However‚ the maximum purchase price for Torrington should only be $641 million. The optimum debt amount for this transaction would be $301 million. This amount of debt would result in a total debt to capital ratio for Torrington of 47%‚ within the range for a BBB “investment grade” debt rating. The combined entities‚ Torrington-Timken‚ would produce an interest coverage ratio of 3.2‚
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Instance column shows the instances analyzed by the CPLEX and the RAS. The five subsequent columns show the results achieved by CPLEX. The FO column shows the value of the Objective Function (FO)‚ corresponding to the transportation total cost. The UB and LB columns show‚ respectively‚ the upper and lower bound found when CPLEX was not able to reach the optimal solution of the instance. The Exec.
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