EBIT + Depreciation - Capex - WK FCF Wacc Enterprise Value + Terminal Value + working capital Total EV (31/12/1983) EV/EBITDA 1984 EV/EBITDA 1985 EV/EBITDA avg. Terminal Value Growth Capex = Depreciation Monticello Mill financials Revenues Annual Capacity Utilization rate Tons Price per ton EBITDA margin Box Plants financials Revenues EBTIDA margin Combined Package financials Revenues EBITDA margin Depreciation EBIT Auxiliar: Capex New Capex Auxiliar: Depreciation New Capex depreciation Old Asset
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Loblaw Companies Limited (L C$33.33‚ TSX) 12th April 2012 Industry: Food Retail Prepared by: Recommendation: Hold Recommendation: Hold Market Data | Current Price | CAD 33.33 | 52-week Range | 42
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Mercury Athletic Footwear Ashutosh Dash Firm Value & Cash Flow Unlevered Free Cash Flow • FCF = EBIT (1-t) + DEP - ∆NWC - CAPEX Or • FCF = EBIT (1-t) - ∆NFA - ∆NWC • EBIT (1-t) or NOPAT is debt free income • Where do we pick up the interest tax shield? • Estimating FCF requires – Developing a reorganized Balance Sheet A Complex Reorganized Balance Sheet Assets Excess Cash NWC Liabilities 000 Debt 104117 Others 000 000 NFA (PPE) 32618 Hybrids Others 77332 Equity 214067 214067 Capital
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Coursework: Financial Analysis and Valuation of OJSC Megafon‚ Russia using DCF as the base model Prepared by: Victor Amoasii Word count: 3697 CONTENTS 1. Megafon overview and analysis of agency costs 2. Risk Profile Analysis 3. Weighted Average Cost of Capital 4. Megafon valuation 5. Capital investments risk analysis 6. Capital structure and dividend policy Megafon overview and analysis of agency costs
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higher working capital requirement as a direct result of higher drilling activity led to deteriorating CFO in 3Q17 versus a year ago. Nabors Industries capital expenditure rose from -867.1 in 2015 to -395.5 in 2016. A negative CFO‚ coupled with higher capex‚ led to negative and deteriorating free cash flow 2016. In 2016‚ Nabors Industries free cash flow 136.5 compared to -10.6 in 2015. In three of the last 8 years of free cash flows‚ the free cash flows have been negative on the statement of cash flows
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expenditure plan‚ how it is funded‚ and who the stakeholders in the process are. Keywords: capital expenditure‚ return on investment‚ funding Capital Expenditures in the Hospitality Industry General accounting principles define capital expenditure or CAPEX‚ as an amount of money spent to acquire or upgrade productive assets‚ such as buildings‚ machinery and equipment‚ to increase the capacity or efficiency of a company for more than one accounting period‚ (Businessdictionary.com‚ 2010). In the hospitality
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1. Describe and evaluate Harley’s operations strategy (using the framework of Chapter 1) It is helpful to adopt three different yet complementary views of operations strategy: The resource view of operations comprises 4 key questions: • Sizing –Due to the volatility and cyclical motorcycle business‚ Harley-Davidson attempts to expand capacity without taking on further debt. Thus‚ it would expand capacity first through internal process improvements and restructuring‚ and externally only if needed
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Valuation models Discounted cash flow models: Dividend discount Free cash flow to the firm Residual income Multiples-based valuation: Price-earnings Value-EBITDA Value-EBIT Value-Sales Price-Book value Equity valuation In conjunction with the valuation of Coles Group‚ contained in “Excel03 Equity valuation” Real options valuation Equity markets price shares above the present value of expected future cash flows‚ due to the presence of embedded options not captured by DCF analysis Real
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PROJECT REPORT ON “SECTOR ANALYSIS – TELECOM INDUSTRY & A CASE STUDY OF: IDEA CELLULAR LTD.” SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF POST GRADUATE DIPLOMA IN BUSINESS MANAGEMENT (PGDBM) SUBMITTED BY PRAJAKTA M. DIWAN PGDBM - FINANCE BATCH: 2007-09 UNDER THE GUIDANCE OF PROF. V. S. DATE [pic] N.L.DALMIA INSTITUTE OF MANAGEMENT STUDIES & RESEARCH
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Delivering growth and value First quarter 2012 results May 2012 Legal notice The following presentation contains forward-looking statements concerning BG Group plc’s strategy‚ operations‚ financial performance or condition‚ outlook‚ growth opportunities or circumstances in the countries‚ sectors or markets in which BG Group plc operates. By their nature‚ forward-looking statements involve uncertainty because they depend on future circumstances‚ and relate to events‚ not all of which can be
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