4:22 10% 35% Done FIN 691 Graded Pro Forma Proble... Instructions: Fill out the empty cells in the table. Follow the formulas i BASIC TEMPLATE PRO FC Sales growth Current assets/Sales Current liabilities/Sales Costs of goods sold/Sales Depreciation rate Interest rate on debt Interest paid on cash & marketable securities Dividend payout ratio 20% Net fixed assets/Sales 70% 50% 10% CS 12.00% 5.00% 34% 60% Tax rate 0 1,000 Year Income statement Sales Costs of goods sold Interest payments on debt Interest earned on cash & marketable securities Depreciation Profit before tax Taxes Profit after tax Dividends Retained earnings 0 1.632 350 Balance sheet Cash and marketable securities Current assets Fixed assets Fixed assets at cost Accumulated depreciation Net fixed assets Total assets 1,000 300 700 2.682 Current liabilities Debt Stock Accumulated retained earnings Total liabilities and equity 200 1,000 800 682 2.682 37 29% 3 DebtAssets, actual DebtAssets, target 3 4:22 Done FIN 691 Graded Pro Forma Proble... Current liabilities Debt Stock Accumulated retained earnings Total liabilities and equity DebtAssets, actual DebtAssets, target 200 1,000 800 682 2.682 3729% 3 3 0 Year Free Cash Flow Profit After Tax Add back depreciation Minus NWC Minus increase in CA Add back increase in CL Subtract CAPEX Add back net interest after taxes Free Cash Flow WACC Long-term FCF growth 20% 6% 0 Year FCF Terminal value Total Enterprise value: PV of FCFs and terminal value Add back initial cash Asset value Subtract year 0 debt Imputed equity value 4:22 Done FIN 691 Graded Pro Forma Proble... llow the formulas in row H. LATE PRO FORMA MODEL 10% 35% 20% 70% 50% 10% 11 Toe D + Base Cur Om www ta + ta Free Adre Note 23 200 for HC urattatata Det Anwendeng Totalbies and QUE Dets ted vs. Top 3729 3048 23:49 25.50 1591 . 1 2 > Yew Free Cashflow Pole Mort Addre INC Mr. CA Aoid back ACADEX Add be reteam FreeCat 20% wwce La Four Year FCF Turner Total . 2 4 al PRO Enterree NFO Aw syuarat ingawa 4:22 10% 35% Done FIN 691 Graded Pro Forma Proble... Instructions: Fill out the empty cells in the table. Follow the formulas i BASIC TEMPLATE PRO FC Sales growth Current assets/Sales Current liabilities/Sales Costs of goods sold/Sales Depreciation rate Interest rate on debt Interest paid on cash & marketable securities Dividend payout ratio 20% Net fixed assets/Sales 70% 50% 10% CS 12.00% 5.00% 34% 60% Tax rate 0 1,000 Year Income statement Sales Costs of goods sold Interest payments on debt Interest earned on cash & marketable securities Depreciation Profit before tax Taxes Profit after tax Dividends Retained earnings 0 1.632 350 Balance sheet Cash and marketable securities Current assets Fixed assets Fixed assets at cost Accumulated depreciation Net fixed assets Total assets 1,000 300 700 2.682 Current liabilities Debt Stock Accumulated retained earnings Total liabilities and equity 200 1,000 800 682 2.682 37 29% 3 DebtAssets, actual DebtAssets, target 3 4:22 Done FIN 691 Graded Pro Forma Proble... Current liabilities Debt Stock Accumulated retained earnings Total liabilities and equity DebtAssets, actual DebtAssets, target 200 1,000 800 682 2.682 3729% 3 3 0 Year Free Cash Flow Profit After Tax Add back depreciation Minus NWC Minus increase in CA Add back increase in CL Subtract CAPEX Add back net interest after taxes Free Cash Flow WACC Long-term FCF growth 20% 6% 0 Year FCF Terminal value Total Enterprise value: PV of FCFs and terminal value Add back initial cash Asset value Subtract year 0 debt Imputed equity value 4:22 Done FIN 691 Graded Pro Forma Proble... llow the formulas in row H. LATE PRO FORMA MODEL 10% 35% 20% 70% 50% 10% 11 Toe D + Base Cur Om www ta + ta Free Adre Note 23 200 for HC urattatata Det Anwendeng Totalbies and QUE Dets ted vs. Top 3729 3048 23:49 25.50 1591 . 1 2 > Yew Free Cashflow Pole Mort Addre INC Mr. CA Aoid back ACADEX Add be reteam FreeCat 20% wwce La Four Year FCF Turner Total . 2 4 al PRO Enterree NFO Aw syuarat ingawa
