125% v F+ View Zoom Insert Table Chart Text Shape Media Format Sort Comment + Data Balance Sheet Cash Flow Statements Income Statement B D A E 7 Tax Rate 26% 8 Risk Free Rate at the End of CY 2.17% 9 Market Risk Premium End of CY 4.07% 70 Pretax Interest Rate on Debt 2.20% 11 Beta 1.29 12 Share Price at End of CY $ 110.38 13 Shares Outstanding at End of CY 925 14 Growth Rate 1.00% 15 Projected Free Cash Flow from Common Equity, Year +6 $ 34,957 16 Projected Net Income, Year +6 $ 45,744 17 18 Calculation of Dividends Based Value 19 20 a. Calculate the rate of return for XYZ Technologies as of the beginning of Year +1. 21 22 b. Calculate the sum of the present value of total dividends for Years +1 through +5. 23 24 c. Calculate the continuing value of XYZ Technologies at the start of Year +6 using the 25 perpetuity-with-growth model using Year +5 total dividends. Also compute the present 26 value of continuing value as of the beginning of Year +1. 27 28 d. Compute the total present value of dividends for XYZ Technologies as of the beginning 29 of Year +1. Remember to adjust the present value of midyear discounting. 30 31 e. Compute the value per share as of the beginning of Year +1. 32 Inforir Speech_ Chapter 1 Activ Powered by Jenzabar. V2021.2 63% (43 Mon Mar 28 8:47 AM Share Help Window XYZ Technologies Inc - Financial Valuation Project 11 Format Sort & Filter Collaborate Media 125% Zoom Text Comment Shape lim Table Chart Insert View Cash Flow Statements Balance Sheet Income Statement + Data im XYZ Technologies Inc Balance Sheets Projections Year +3 Historicals CY-1 CY Year +5 Year +4 Year +2 Year +1 146,761 13,102 1,764 3,453 Cash & equivalents ST & LT marketable securities Accounts receivable Inventory Deferred tax assets Other current assets (including non-trade receivables) Property, plant & equipment Acquired intangible assets (including goodwill) Other assets Total assets 121,251 10,930 791 2,583 14,220 15,452 5,359 5,478 176,064 152,236 13,454 1,805 3,453 14,421 19,687 4,706 5,146 214,908 161,082 14,318 1,887 3,453 14,421 23,571 3,721 5,146 227,599 169,207 14,959 1,971 3,453 14,421 26,738 2,888 5,146 238,783 182,348 15,695 2,068 3,453 14,421 29,154 2,282 5,146 254,567 14,421 16,597 5,756 5,146 207,000 191,985 16,541 2,180 3,453 14,421 30,783 1,848 5,146 266,357 21,175 20,015 Accounts payable Accrued expenses & deferred revenue (current & non-current) Long term debt Other non-current liabilities Total liabilities 22,367 23,916 16,960 20,208 83,451 22,904 23,858 16,960 23,208 86,930 24,412 23,925 16,960 26,208 91,505 25,506 23,816 14,460 29,208 92,990 26,760 23,956 14,460 32,208 97,384 28,203 23,941 8,460 35,208 95,812 16,664 57,854 16,422 19,764 Common stock Treasury stock Retained earnings Other comprehensive income (loss) Total equity 21,978 (23,968) 130,439 (471) 127,978 24, 191 (47,936) 160,310 (471) 136,094 26,616 (71,904) 191,552 (471) 145,793 29,162 (95,872) 224,364 (471) 157,183 31,844 (119,840) 259,012 (471) 170,545 101,289 104,256 (471) 123,549 499 118,210 238,783 254,567 266,357 227,599 176,064 207,000 214,908 Total liabilities & equity 0 G 64% [47 Mon Mar 28 8:48 AM : a ange View Share Window Help Loffice.com XYZ Technologies Inc - Financial Valuation Project Text Media Comment 117% V + no Collaborate Th Format Sort & Filter A Yahoo! Connect Insert Table Chart Shape View Zoom im Kapital 4 Ub. + Cash Flow Statements Data Balance Sheet Income Statement Move to XYZ Technologies Inc Income Statements .im Historicals CY-1 Projections Year +3 Year +4 CY-2 Year +5 Year +2 CY Year +1 3, 2022 Revenue eryone who es and took part Cost of sales Wartburg. It was Gross profit unity come togeth Research and development promote. Selling, general, and administrative Matthews, wh Operating profit (EBIT) of her choice Interest income Augustine, wh Interest expense for 2022-23 Other expense first-years Pretax profit Taxes 108,249 (64,431) 43,818 (2,429) (7,599) 33,790 519 156,508 (87,846) 68,662 (3,381) (10,040) 55,241 1,088 - (566) 55,763 (14,030) 41,733 170,910 (106,606) 64,304 (4,475) (10,830) 48,999 1,616 (136) (324) 50, 155 (13,118) 37,037 179,381 (112,830) 66,551 (5,202) (12,198) 49,151 1,540 (329) (324) 50,038 (13,160) 36,878 188,389 (117,932) 70,457 (5,840) (12,810) 51,807 1,614 (329) (324) 52,768 (13,719) 39,049 196,830 (123,216) 73,614 (6,102) (13,384) 54,128 1,701 (317) (324) 55,188 (14,349) 40,839 206,514 (129,278) 77,236 (6,402) (14,043) 56,791 1,811 (317) (324) 57,961 (15,070) 42,891 217,643 (136,245) 81,398 (6,747) (14,800) 59,851 1,928 (252) (324) 61,203 (15,913) 45,290 (104) 34,205 (8,283) 25,922 - students clas Net Income 3. Student clas tration closes, e Castle twork for the hy graphics fiction piece be for mail questions Adapted form: 64% (4) Mon Mar 28 8:48 AM Share Window Help XYZ Technologies Inc - Financial Valuation Project T Chart Text Media Comment TV Format Sort & Filter Collaborate im 135% Shape Insert Table View Zoom Cash Flow Statements Balance Sheet Income Statement + Data XYZ Technologies Inc Cash Flow Statements Projections Year +3 Year +5 Year +4 Year +1 Year +2 Net income Depreciation & amortization Stock based compensation Accounts receivable Inventory Accounts payable Accrued expenses Other non current liabilities Cash from operating activities 36,877 6,929 2,214 (352) (41) 538 (58) 3,000 49,107 39,048 7,838 2,213 (864) (82) 1,507 68 3,000 52,728 40,840 8,886 2,426 (642) (85) 1,094 (109) 3,000 55,410 42,891 9,961 2,545 (736) (97) 1,255 139 3,000 58,958 45,291 11,211 2,682 (846) (111) 1,442 (15) 3,000 62,654 (8,969) (8,969) (10,738) (10,738) (11,219) (11,219) (11,771) (11,771) (12,406) (12,406) Capital expenditures Cash from investing activities Long term debt Common dividends Share repurchases Cash from investing activities (10,694) (23,968) (34,662) (9,176) (23,968) (33,144) (2,500) (9,597) (23,968) (36,065) (10,079) (23,968) (34,047) (6,000) (10,643) (23,968) (40,611) 5,476 8,846 8,126 13,140 9,637 Net change in cash during the period danted form your worst wartburg.edu/the-castle! 125% v F+ View Zoom Insert Table Chart Text Shape Media Format Sort Comment + Data Balance Sheet Cash Flow Statements Income Statement B D A E 7 Tax Rate 26% 8 Risk Free Rate at the End of CY 2.17% 9 Market Risk Premium End of CY 4.07% 70 Pretax Interest Rate on Debt 2.20% 11 Beta 1.29 12 Share Price at End of CY $ 110.38 13 Shares Outstanding at End of CY 925 14 Growth Rate 1.00% 15 Projected Free Cash Flow from Common Equity, Year +6 $ 34,957 16 Projected Net Income, Year +6 $ 45,744 17 18 Calculation of Dividends Based Value 19 20 a. Calculate the rate of return for XYZ Technologies as of the beginning of Year +1. 21 22 b. Calculate the sum of the present value of total dividends for Years +1 through +5. 23 24 c. Calculate the continuing value of XYZ Technologies at the start of Year +6 using the 25 perpetuity-with-growth model using Year +5 total dividends. Also compute the present 26 value of continuing value as of the beginning of Year +1. 27 28 d. Compute the total present value of dividends for XYZ Technologies as of the beginning 29 of Year +1. Remember to adjust the present value of midyear discounting. 30 31 e. Compute the value per share as of the beginning of Year +1. 32 Inforir Speech_ Chapter 1 Activ Powered by Jenzabar. V2021.2 63% (43 Mon Mar 28 8:47 AM Share Help Window XYZ Technologies Inc - Financial Valuation Project 11 Format Sort & Filter Collaborate Media 125% Zoom Text Comment Shape lim Table Chart Insert View Cash Flow Statements Balance Sheet Income Statement + Data im XYZ Technologies Inc Balance Sheets Projections Year +3 Historicals CY-1 CY Year +5 Year +4 Year +2 Year +1 146,761 13,102 1,764 3,453 Cash & equivalents ST & LT marketable securities Accounts receivable Inventory Deferred tax assets Other current assets (including non-trade receivables) Property, plant & equipment Acquired intangible assets (including goodwill) Other assets Total assets 121,251 10,930 791 2,583 14,220 15,452 5,359 5,478 176,064 152,236 13,454 1,805 3,453 14,421 19,687 4,706 5,146 214,908 161,082 14,318 1,887 3,453 14,421 23,571 3,721 5,146 227,599 169,207 14,959 1,971 3,453 14,421 26,738 2,888 5,146 238,783 182,348 15,695 2,068 3,453 14,421 29,154 2,282 5,146 254,567 14,421 16,597 5,756 5,146 207,000 191,985 16,541 2,180 3,453 14,421 30,783 1,848 5,146 266,357 21,175 20,015 Accounts payable Accrued expenses & deferred revenue (current & non-current) Long term debt Other non-current liabilities Total liabilities 22,367 23,916 16,960 20,208 83,451 22,904 23,858 16,960 23,208 86,930 24,412 23,925 16,960 26,208 91,505 25,506 23,816 14,460 29,208 92,990 26,760 23,956 14,460 32,208 97,384 28,203 23,941 8,460 35,208 95,812 16,664 57,854 16,422 19,764 Common stock Treasury stock Retained earnings Other comprehensive income (loss) Total equity 21,978 (23,968) 130,439 (471) 127,978 24, 191 (47,936) 160,310 (471) 136,094 26,616 (71,904) 191,552 (471) 145,793 29,162 (95,872) 224,364 (471) 157,183 31,844 (119,840) 259,012 (471) 170,545 101,289 104,256 (471) 123,549 499 118,210 238,783 254,567 266,357 227,599 176,064 207,000 214,908 Total liabilities & equity 0 G 64% [47 Mon Mar 28 8:48 AM : a ange View Share Window Help Loffice.com XYZ Technologies Inc - Financial Valuation Project Text Media Comment 117% V + no Collaborate Th Format Sort & Filter A Yahoo! Connect Insert Table Chart Shape View Zoom im Kapital 4 Ub. + Cash Flow Statements Data Balance Sheet Income Statement Move to XYZ Technologies Inc Income Statements .im Historicals CY-1 Projections Year +3 Year +4 CY-2 Year +5 Year +2 CY Year +1 3, 2022 Revenue eryone who es and took part Cost of sales Wartburg. It was Gross profit unity come togeth Research and development promote. Selling, general, and administrative Matthews, wh Operating profit (EBIT) of her choice Interest income Augustine, wh Interest expense for 2022-23 Other expense first-years Pretax profit Taxes 108,249 (64,431) 43,818 (2,429) (7,599) 33,790 519 156,508 (87,846) 68,662 (3,381) (10,040) 55,241 1,088 - (566) 55,763 (14,030) 41,733 170,910 (106,606) 64,304 (4,475) (10,830) 48,999 1,616 (136) (324) 50, 155 (13,118) 37,037 179,381 (112,830) 66,551 (5,202) (12,198) 49,151 1,540 (329) (324) 50,038 (13,160) 36,878 188,389 (117,932) 70,457 (5,840) (12,810) 51,807 1,614 (329) (324) 52,768 (13,719) 39,049 196,830 (123,216) 73,614 (6,102) (13,384) 54,128 1,701 (317) (324) 55,188 (14,349) 40,839 206,514 (129,278) 77,236 (6,402) (14,043) 56,791 1,811 (317) (324) 57,961 (15,070) 42,891 217,643 (136,245) 81,398 (6,747) (14,800) 59,851 1,928 (252) (324) 61,203 (15,913) 45,290 (104) 34,205 (8,283) 25,922 - students clas Net Income 3. Student clas tration closes, e Castle twork for the hy graphics fiction piece be for mail questions Adapted form: 64% (4) Mon Mar 28 8:48 AM Share Window Help XYZ Technologies Inc - Financial Valuation Project T Chart Text Media Comment TV Format Sort & Filter Collaborate im 135% Shape Insert Table View Zoom Cash Flow Statements Balance Sheet Income Statement + Data XYZ Technologies Inc Cash Flow Statements Projections Year +3 Year +5 Year +4 Year +1 Year +2 Net income Depreciation & amortization Stock based compensation Accounts receivable Inventory Accounts payable Accrued expenses Other non current liabilities Cash from operating activities 36,877 6,929 2,214 (352) (41) 538 (58) 3,000 49,107 39,048 7,838 2,213 (864) (82) 1,507 68 3,000 52,728 40,840 8,886 2,426 (642) (85) 1,094 (109) 3,000 55,410 42,891 9,961 2,545 (736) (97) 1,255 139 3,000 58,958 45,291 11,211 2,682 (846) (111) 1,442 (15) 3,000 62,654 (8,969) (8,969) (10,738) (10,738) (11,219) (11,219) (11,771) (11,771) (12,406) (12,406) Capital expenditures Cash from investing activities Long term debt Common dividends Share repurchases Cash from investing activities (10,694) (23,968) (34,662) (9,176) (23,968) (33,144) (2,500) (9,597) (23,968) (36,065) (10,079) (23,968) (34,047) (6,000) (10,643) (23,968) (40,611) 5,476 8,846 8,126 13,140 9,637 Net change in cash during the period danted form your worst wartburg.edu/the-castle