Question
a. What is Mydeco's market capitalization at the end of each year? b. What is Mydeco's market-to-book ratio at the end of each year? c.
a. What is Mydeco's market capitalization at the end of each year?
b. What is Mydeco's market-to-book ratio at the end of each year?
c. What is Mydeco's enterprise value at the end of each year?
Income Statement 2009 2010 2011 2012 2013 Revenue 406.8 366.2 421.1 513.9 608.7 Cost of Goods Sold (189.4) (174.5) (205.0) (251.2) (297.4) Gross Profit 217.4 191.7 216.1 262.7 311.3 Sales and Marketing (67.9) (65.5) (83.5) (100.9) (120.4) Administration (58.6) (60.6) (60.9) (65.6) (77.6) Depreciation & Amortization (26.7) (26.8) (34.7) (39.7) (39.0) EBIT 64.2 38.8 37.0 56.5 74.3 Interest Income (Expense) (33.3) (34.4) (31.5) (35.5) (38.8) Pretax Income 30.9 4.4 5.5 21.0 35.5 Income Tax (10.8) (1.5) (1.9) (7.4) (12.4) Net Income 20.1 2.9 3.6 13.6 23.1 Shares Outstanding (Millions) 55.1 55.1 55.1 55.1 55.1 Earnings per Share $0.36 $0.05 $0.07 $0.25 $0.42 Balance Sheet 2009 2010 2011 2012 2013 Assets Cash 48.2 63.7 76.4 67.7 75.3 Accounts Receivable 89.2 71.2 68.4 75.8 86.1 Inventory 34.9 30.4 27.4 32.7 34.2 Total Current Assets 172.3 165.3 172.2 176.2 195.6 Net Property, Plant & Equip. 247.4 239.1 310.6 348.8 342.5 Goodwill & Intangibles 365.7 365.7 365.7 365.7 365.7 Total Assets 785.4 770.1 848.5 890.7 903.8 Liabilities & Stockholders' Equity Accounts Payable 20.7 16.4 22.2 28.7 31.8 Accrued Compensation 7.5 5.8 6.2 8.8 9.5 Total Current Liabilities 28.2 22.2 28.4 37.5 41.3 Long-term Debt 498.9 498.9 572.0 595.7 595.7 Total Liabilities 527.1 521.1 600.4 633.2 637.0 Stockholders' Equity 258.3 249.0 248.1 257.5 266.8 Total Liabilities & Stockholders' Equity 785.4 770.1 848.5 890.7 903.8 Statement of Cash Flows 2009 2010 2011 2012 2013 Net Income 20.1 2.9 3.6 13.6 23.1 Depreciation & Amortization 26.7 26.8 34.7 39.7 39.0 Chg. in Accounts Receivable 3.9 18.0 2.8 (7.4) (10.3) Chg. in Inventory (2.9) 4.5 3.0 (5.3) (1.5) Chg. in Pay. & Accrued Comp. 1.8 (6.0) 6.2 9.1 3.8 Cash from Operations 49.6 46.2 50.3 49.7 54.1 Capital Expenditures (25.2) (24.9) (104.9) (76.3) (39.5) Cash from Investing Activ. (25.2) (24.9) (104.9) (76.3) (39.5) Dividends Paid (5.8) (5.8) (5.8) (5.8) (7.0) Sale (or purchase) of stock - - - - - Debt Issuance (Pay Down) - - 73.1 23.7 - Cash from Financing Activ. (5.8) (5.8) 67.3 17.9 (7.0) Change in Cash 18.6 15.5 12.7 (8.7) 7.6 Mydeco Stock Price $7.52 $3.55 $4.82 $7.87 $9.54
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