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1) Consider a firm whose total assets is 30 000 000 TL. The total debt of that company is 25 000 000. The firm's sales

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1) Consider a firm whose total assets is 30 000 000 TL. The total debt of that company is 25 000 000. The firm's sales is 5 000 000 TL and its net profit is 300 000 TL. a) Find the profit margin, ROA and ROE of that firm. b) Given that the sector average of profit margin is 10%, sector average of ROA is 4% and sector average of ROE is 8%; will you suggest to buy the shares of that firm in the stock market? Why or why not? 2) a) The following information is given. The expected rate of return of the index in next year is 30%, current annual rate of return of T-Bills is %15. We consider a stock whose beta is 1.2. It is estimated that this firm will pay a dividend per share of 2 TL next year. Investors predict that dividends will grow at the constant rate of 15% in future years. Then what may be the fundamental price of that stock? b) Will you consider to buy that stock if its current market value is 12.4 TL per share? 3) In the problem above (question 2); let us assume that investors rather than predicting one growh rate of 15%; predict two different growh rates. It is estimated that the dividends will grow at the rate of 10% in the next three years. Then the growth rate of dividends will accelerate to 20% starting in the fourth year and that growth rate will continue forever in the rest of future years. Given this: how the fundamental price of that stock changes ? (use the values of Question 2 in the answer. Only the growth rate is different in this question) b) Is that stock a good buy at the price of 12.4 per share with that new fundamental price? 4) We know that stock A exactly increases 14% when index is up by 10% and declines also 14% when index declines by 10%, Can we find the expected return of that stock if we know that the expected return of the index is 50% and the annual rate of return of T-Bills is 12%

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