Assumptions

Projected Revenue $10,00010,50011,000$

Projected Operating Income $($EBIT$)1,0001,1001,200$

depreciation$/$Sales $10\mathrm{.}00\%10\mathrm{.}00\%10\mathrm{.}00\%$

Capital Expenditure$/$Sales $5\mathrm{.}00\%5\mathrm{.}00\%5\mathrm{.}00\%$

Interest Expense $300300300$

Increase in Net Working Capital$/$Sales $2\mathrm{.}00\%2\mathrm{.}00\%2\mathrm{.}00\%$

Marginal Tax Rate $30\mathrm{.}00\%30\mathrm{.}00\%30\mathrm{.}00\%$

Weighted Average Cost of Capital $($WACC$)10\mathrm{.}00\%10\mathrm{.}00\%10\mathrm{.}00\%$

Terminal Growth Rate $(\%)4\mathrm{.}00\%4\mathrm{.}00\%4\mathrm{.}00\%$

Market Value of Debt $5,0005,0005,000$

Number of Share Outstanding $200200200$

Today FY$1$ FY$2$ FY$3$

EBIT $($Earnings before Interest & Tax$)$

Interest Expense

Tax

Net Income

Depreciation

Operating Cash Flow $($OCF$)$

Capital Expenditure

Increase in Net Working Capital

Free Cash Flow $($FCF$)$

Terminal Value

PV of FCF and Terminal Value

Sum of All PV $($Enterprise value$)$

Market Value of Debt

Value of Equity

Number of Share Outstanding

Share Price